Rss Feed
Tweeter button
Facebook button
Technorati button
Reddit button
Myspace button
Linkedin button
Webonews button
Delicious button
Digg button
Flickr button

Renting is the Answer for Consumers Wary of Buying Homes

bigstock-Couple-Standing-By-For-Rent-edited After some considerable sizzle last year, the U.S. housing market rebound has slowed as sales and price increases experience an end-of-the-summer lethargy. Despite an improving national economy with some significant employment gains, consumers remain worried about job security, stagnant wages, tight credit and high debt levels. These worries are driving more consumers to consider rental housing. To be sure, housing experts don’t believe the housing rebound is over. The current pullback, however, could be viewed as silver lining for those investing in the single-family rental market as indicators suggest this sector is continuing to gain favor among consumers who are hesitant to buy. Fannie Mae reports that Americans’ attitudes toward housing softened in August in a surveyreleased by the government-sponsored enterprise last week. Interest in renting increased even though survey respondents indicated they expected rental rates to rise. “[T]he share of consumers who said now is a good time to buy a home dipped for the second consecutive month, falling six percentage points since June to 64 percent — tying the all-time survey low,” Fannie Mae reported. In July, the U.S. Census Bureau reported the nation’s homeownership rate had dropped to thelowest level in about 19 years — 64.7 percent in the second quarter, down from 64.8 percent in the previous three months. The implication for investors of single-family rentals is clear: Demand remains strong in the rental sector. SHIFTING ATTITUDES Rental housing has “always provided a broad choice of homes for people at all phases of life,” notes Harvard University’s Joint Center for Housing Studies in a 2013 report on the sector,“America’s Rental Housing”. VarietyOfRentalStock “The recent economic turmoil underscored the many advantages of renting and raised the barriers to homeownership, sparking a surge in demand that has buoyed rental markets across the country,” the report said. While the Great Recession — with its high unemployment and its wave of foreclosures — drove many into rental housing who might have otherwise preferred to own their homes, more recent trends are raising the popularity of renting even among those who can afford to buy. “All in all, recent conditions have brought renewed appreciation for the benefits of renting, including the greater ease of moving, the ability to choose housing that better fits the family budget, and the freedom from responsibility for home maintenance,” the Harvard report said. FUTURE GROWTH OF RENTAL HOUSEHOLDS JCHS estimated renter household growth over the next decade by applying current homeownership rates to recent household projections. Depending on the pace of immigration, the center estimates that the number of rental households is likely to increase by between 4 million and 4.7 million between 2013 and 2023. Although this indicates a considerable slowdown from the c

9 Questions Your Rental Property Tenants are Going to Ask!

Frequently Asked Questions Tenants searching for their perfect rental home are coming to the table armed with questions to ensure that their living experience meets the expectations created by your rental property advertisement. Be prepared for their questions, or consider proactively addressing some of them during your interview process. Below are 9 questions to expect: Can I make changes to the rental home and will there be costs involved? Tenants often want to paint walls, hang pictures and make the house their home. Clearly identify what you will do for them, what expenses will be their own, and what cannot be done. Are any utilities or services covered in the cost of the rent? When creating a budget for living expenses, this is a critical expense to factor in. Help your prospective tenants by being clear about the costs. How are utilities factored? If utilities aren’t included, explain upfront how the fees are determined. Also, consider sharing the cost history of the gas, electric, water, etc… so there aren’t any surprises. How do you handle emergency repairs? No one wants to deal with a power outage at midnight on a Monday, but it’s an issue that has to be handled ASAP. Share your emergency process with your tenants. Under what circumstance would you enter my rental home without notice? Inform your tenant of your process for notice prior to entering the home, whether it’s a minor air filter change, smoke detector check, or replacing an appliance. Can I sublet the rental home? In the event that your tenant needs to move out before their lease is up, they may ask if subletting is the only way to avoid breaking the lease. Are there plans to make any updates to the property? If improvements are being made, then tenants may have to deal with construction. Be sure and explain how updates could add to the amenities, enjoyment and appeal of your rental home. Under what circumstances would you not refund my security deposit? Be specific with your rules regarding the deposit and explain that the move out condition of the home should be similar to its condition during move in. What kinds of safety precautions are taken for the rental home? Your tenant’s safety should be a top concern. Take security seriously and be open and honest about the measures that are in place to give them peace of mind. Be sure to provide your tenants answers to all of their questions before signing a lease. This will help ensure a great living experience and hopefully a long-term renter

5 secrets to maximize profits on rental homes

Call Richard for more information 404-919-7545

Call Richard for more information 404-919-7545

Landlording ain't easy but it's necessary RealtyTrac reported that the percentage of all-cash buyers has soared in the past year, with 42.7% of all U.S. residential property sales in the first quarter all-cash purchases, up from 37.8% in the previous quarter and up from 19.1% in the first quarter of 2013. (This is the highest level since RealtyTrac began tracking all-cash purchases in the first quarter of 2011.)Individual and small investors are a big swathe of homebuyers these days, moving in and buying up homes with cash even as the institutional investors are taking flight. Meanwhile, institutional investors are walking away from housing. Institutional investors — entities that have purchased at least 10 properties in a calendar year — accounted for 5.6% of all U.S. residential sales in the first quarter, down from 6.8% in the fourth quarter of 2013 and down from 7% in the first quarter of 2013 to the lowest level since the first quarter of 2012. So who are these cash buyers? “Strict lending standards combined with low inventory continue to give the advantage to investors and other cash buyers in this housing market,” said Daren Blomquist, vice president at RealtyTrac. “The good news is that as institutional investors pull back their purchasing in many markets across the country, there is still strong demand from other cash buyers — including individual investors, second-home buyers and even owner-occupant buyers — to fill the vacuum of demand left by institutional investors.” So to help out those newly minted landlords and the mom-and-pop operations that are growing, here are five ways to maximize your returns on rental housing, courtesy BiggerPockets blog. 1) Decrease vacancy even if it means cutting your rent Maximize profits by minimizing vacancy sounds obvious, but the strategies to do it are not easy. Every month of vacancy costs you 8.3% of your potential yearly revenue, so you would be better off renting every property one month faster for 5% less rent, two months faster for 10% less rent, and so on. I once had a vacancy problem that cost me almost six months in rent. By my calculations above, I would have made out much better if I had lowered rents by 30% and found a good tenant immediately! Of course, I was not expecting such a problem in the beginning. 2) Minimize turnover The price of rent is not the only factor involved in tenant retention. The other key that is in your control is customer service. Whether you personally manage your properties or have a property manager, make sure that your tenants are treated with respect and professionalism, their concerns are valued, and matters are dealt with urgently and to their satisfaction. A good tenant/landlord relationship keeps tenants from thinking about moving. 3) Increase rent, strategically Once you have acquired a tenant, there is a cost for them to move. If the value of their current rental is significantly better than the value of a new rental plus the cost of moving, you still have the upper hand. Make sure that you know the rents in the area, researching sites such as Zillow, rentometer, Craigslist, and the MLS if you have access. You may find that there is plenty of room to increase your revenue a small percentage each year (1-3%) while remaining competitive, and there is no reason to give this up. 4) Be prompt about late fees Showing kindness and respect to your tenants does not mean being a pushover when it comes to rent collection and late fees. Collections are not the most enjoyable part of being a landlord, but are an essential part of running a profitable business. Make sure that your tenants understand that this is a business, they have signed a contract, and it is your job to complete this transaction, following the contract and all applicable laws 5) Add revenue streams If you are particularly entrepreneurial, you may even find additional revenue streams in your SFRs. An idea that I have had is to offer house cleaning and landscaping services to my tenants at the time they sign the lease. These are responsibilities that they have per the lease and may not be excited about taking on. Basically, you become a one stop shop for taking care of their home. You can negotiate the rates of independent landscaping and cleaning services, contract them out, and collect a fee as the contractor. For instance, if a cleaner agrees on a $75/month fee, you may offer the service to your tenant for $85/month, increasing your annual revenue by $120. Richard Simpson Office  404-919-7545 Direct Line:     404-788-4420 e-Mail: partnerwithrichardnow@gmail.com My web site:  http://rsimpson-404-919-7545.info/   Please LIKE my FaceBook page at:  http://on.fb.me/NnLTSE Join our Investment club: http://HOUSEjerk.org/rsimpson

No Income verification private investor hard money loan

Hard money loan

Your Source for true hard money loans

Georgia's Source For True Hard Money Loans

GEORGIA

What Is Hard Money Lending?

WHAT IS HARD MONEY LENDING?  Hard money (private money) lenders are commercial real estate lending companies offering a specialized type of real-estate backed loan. Hard money lenders provide short-term loans (also called a bridge loan) that provide funding based on the value of real estate that has been collateralized for the loan. Hard money lenders typically have higher interest rates than banks (between 11 and 16%) (65% LTV) because they fund deals that do not conform to bank standards.
 

WE ARE CURRENTLY ACCEPTING GEOERGIA HARD MONEY LOAN REQUESTS ONLY AT THIS TIME

Please note that we are currently accepting Georgia hard money loan requests at this time.

No Gimmicks, No Games, No Doc Loans!

SUBMIT YOUR LOAN DIRECT!

 

We are a direct source of money for those looking for Private Money loans in the Southeast U.S.  We work closely with a silent group of non-soliciting private money real estate investors that depend on us to review and screen incoming loan submissions so it reaches the proper lender.

Call Richard now at 404-919-7545 or like my Face Book page at http://on.fb.me/NnLTSE

 Visit my web site: http://rsimpson-404-919-7545.info/

We Specialize In All Non-Flagged Properties

* Residential Rehab Lending * Commercial Bridge Lending * Lending on Vacant Land * Full Doc, Light Doc, No Doc Options * Investor, Broker, Borrower and Realtor Friendly! * 1 loan or bundle multiple properties! * We are Hard Money Jumbo Loan Pro's! * Close in your personal or LLC name * Answers within 24-48 hours!

We Are Looking For The Following Property Types To Lend On:

Other Real Estate Parking Garage Raw / Vacant Land Regional Malls Residential Development Restaurant Retail Development Retail - general Self Storage Facilities Senior Housing Single Tenant Offices Ski Resorts Strip with Anchor Strip without Anchor Student Housing Taverns / Bars Time Share Underlying Cooperative Mortgage Warehouse - general

Also, UNIQUE PROPERTY TYPES

WE TURN NOTHING DOWN!  

We are a direct source of money for those looking for Private Money loans in the Southeast U.S.  We work closely with a silent group of non-soliciting private money real estate investors that depend on us to review and screen incoming loan submissions so it reaches the proper lender.

Call Richard now at 404-919-7545 or like my Face Book page at  http://www.atlantacommercialsaleshelp.com

 Visit my web site: http://rsimpson-404-919-7545.info/

NO credit check required for a NO DOC SFR investor loan

  NO Doc INVESTOR Loan- Purchase or refinance SFR.
  • No credit check and no credit reporting
  • No income verification
  • No asset verification
  • Fix and Flip Program – 6 months Interest only NEW - Buy and Hold Program – 10 year term - 5 year fixed term fully amortize available
We are a lender providing small balance loans from $20,000-$100,000 in 34 states for real estate investors who need fast, dependable funding. Highlights of our program: Loan amounts - $20,000-$100,000 for both Purchase and Cash Out refinances Loan to Value- 65% of purchase price on purchases, 50% LTV of appraised value on cash out refinances No prepayment penalty on any of our loan products 1-4 unit residential properties only We DO NOT- check credit, income/assets or do employment verification Questions? Call: Richard Simpson T-404-919-7545 C-404-788-4420

Here are 6 things that you cannot recover in life

Here are 6 things that you cannot recover in life:   (1) The Stone...............after it's thrown.   (2) The Word...............after it's said.   (3) The Occasion...........after it's missed.   (4) The Time...............after it's gone.   (5) Today..................after it's done.   (6) Opportunity............after it's around the corner. These things are lost forever. When you work with any of the above things listed, you must be very careful. Nothing ever returns to its former position . Nnot totally. There is always something that is different, no matter how small. You have to spend your time wisely, or lose it. You must learn how to spend the time you have as wisely as possible. Even while you are asleep, it is the wisest person that develops time in such a way that your purpose continues even when you retire for the night, or maybe while you sit in a movie theater. Multiples of individuals have mastered the art of developing a method of "hands-off" income generation, which means the business runs even when you "aren't on the job" in front of your computer. In almost every case, it is a work from home program that is built from an idea, or maybe to copy the idea of one already available. Now That's An Opportunity! Copying the successful is not just a good idea, it's almost brilliant. Copy the very successful professionals, do what they do without reinventing their methods and ways. When you know how, it is much easier and it works. Remember; don't make this a "lost opportunity"... Take Action!  Email  ThisBlogThis!Share to TwitterShare to Facebook                                 If you found this article to be of value, Please support this blog with a donation of $5.