While there’s no denying that the demand for real estate properties is on the rise, your business as a real estate investor will not flourish unless you know how to set yourself apart in this overcrowded market. In fact, as the need increases, so does the necessity for optimizing your marketing strategy that will ultimately help you boost your business relevance, brand awareness, and bring more clients your way. As an investor, your role is a multifaceted one, including that of negotiating over prices, looking for the most appropriate buyers later down the line, and finding the most lucrative real estate opportunities overall.
To refine your marketing approach in 2020, you need to keep your target audience in mind, as well as the market itself. For example, according to the National Association of Realtors, 50% of buyers found their home online, which instantly puts more pressure on your website, your social media, and other digital factors to enhance your...
When it comes to VA financing, many veterans have heard about the popular fixed rate VA Loans. They are usually the standard when it comes to hearing about veteran finance options for real estate. But, did you know there's another option? It's called a VA Hybrid Loan and it could be a great choice for your home buying needs.
A VA Hybrid Loan is exactly like it sounds – it is a government-backed loan that includes a fixed-rate introductory period that transitions to an adjustable-rate mortgage after a certain amount of time. The initial period can be 3, 5, 7, or 10 years. After this time (on the anniversary date), the interest rate can change yearly as determined by index, margin, and caps.
VA Hybrid Loans are capped – which means that there is a limit on the interest rate and how much that rate can rise both annually and over the life of the loan. The annual adjustment cap is one percent...
So, someone has convinced you to self-manage your rental properties. Glad you found me. I will not try to persuade you that managing your properties is a bad idea, but I hope that after you read this article, you will fully grasp how much work it is getting started. Feel free to learn from my mistakes.
Pro-Tip: Train until you cannot get it wrong.
One of the greatest football coaches of all time, Vince Lombardi, once said, “We are going to practice not until we get it right, but until we can not get it wrong.” Apply this principle to as much as possible in life but especially landlording. Do not go into property management with the expectation that it will be passive. Property management is very active but you can make your job easier if you properly train your tenants. Every time a unit turns over and you place new tenants, you begin the training cycle over again. Each new tenant...
The perpetual bears among us have been forecasting an imminent recession and corresponding crash in the housing market since about 2015. Those bears have missed out on considerable asset appreciation since then, but eventually, the bears have got to be right — right?
No, at least not in Savannah, and not for quite a while — and the biggest reason why Savannah’s real estate market is still in the third inning is those big, beautiful cranes that we see just upriver of the bridge.
Every so often I get the question, “How did you get your start in real estate?” The start for me was when I was very young, I then let it idle, and started again 30 years later.
In the beginning, my mom separated from my father when I was three and divorced when I was five, so it was the two of us for many years growing up together. Realizing at a young age that we had an uphill climb, and having been born an entrepreneur, I always found ways to accumulate cash: yard work, babysitting, snow shoveling, paper routes (Warren Buffett’s start too), selling candy in school out of my locker, returning school cafeteria trays for a dime each, etc.
After moving various times between apartments, an opportunity came up: a large complex of apartments and townhouses was selling off the complex as condos. Mom and I had been struggling and discussed this as a joint venture and decided to take a stab at it. Mom had the credit and a job and I...
Let’s be honest – the current market is pretty crazy. House-hunting is a stressful event in general but add in the fact that you can’t find a newer home to fit your budget and that stress increases ten-fold. Most veterans are aware of the “normal” VA loan, but there are other options available. It’s important to know your VA loan options so you don’t miss out on spectacular opportunities! Whether it’s a foreclosure you fell in love with or just a fixer-upper, the VA renovation loan may have you covered.
A VA Renovation Loan is a single loan provided by the VA that includes both the home’s current value AND the amounts needed for minor remodeling and non-structural repairs. There are some similarities to the straight VA Loan- such as it is usually 100% financing, the home must meet the VA’s minimum property requirements, and the home must be the veteran’s primary residence. There is no...
Going to college is extremely expensive these days.
In general, having children is an expensive 18+ years. It is something my wife and I are about to face with complete joy and overwhelming anxiety. Once senior year rolls around, most parents have to figure out a way to pay a massive college tuition bill, not to mention many other expenses that come along with sending a young adult off into the real world. After all, your college student is going to want to have some spending money in their pocket.
Rather than telling them to find a part-time job, which will most likely hurt their extracurricular activities, study time, and social life, why not invest in their future early on? Help them be smart about money and give them a legacy of financial freedom and literacy.
Here is what you do: In the year that you have a baby, buy him or her a turnkey investment property with a 30-year loan. Have any cash flow go directly towards the principal. If you do this...
From 2013-2016, I worked at a factory called Kleer-Fax. During the second half of my tenure, I was the National Sales Manager (sometimes called Chief Marketing Officer). While seeking out ways to increase sales with current customers and getting new ones, I also found other money.
This included a grant from the SBA for hurricane relief, as well as one from a non-profit. But the best opportunity I ever found was in solar leasing.
Solar leasing is when you rent out your property (usually the roof) to an energy company that makes money with solar collection and the sale of SRECs (Solar Renewable Energy Certificates) on the commodities market.
You have a building or land, and you get paid to let someone else install solar technology.
Normally, to go green, you have to pay a good deal up front. Then, for the next 20 years, you are financially responsible for the whole system. Hail...
Military members are accustomed to significant challenges. Combat tours, deployments, and frequent transfers are a few of the difficulties they face frequently. Because of this stress, many military members experience significant struggles when it comes to getting ahead financially.
Possibly one of the greatest benefits to U.S. government or military service is the Thrift Savings Plan. The Thrift Savings Plan (TSP) is a retirement savings and investment plan offered to current employees of the military and federal government.
Since it’s a “defined contribution” retirement plan, the retirement income you receive from the TSP will depend on how much you (and your agency, if applicable) contribute during your working years--along with how well your investments perform over that time. Though it offers numerous advantages for retirement savings, the TSP is an under-appreciated and under-utilized benefit offered by the federal...
VA loans can be used toward many types of homes. At first glance, it’s easy to see how single-family homes, condos, and townhomes can be purchased with a VA loan, but what about manufactured homes? With proper research and assistance, a veteran can purchase a manufactured home with a VA loan.
Manufactured homes are built and assembled in factories in pieces, then transported to the home site for installation. These homes can be 10-20% cheaper than single-family homes, thus making it a viable option for veterans.
Sometimes “modular home” and “manufactured home” are used interchangeably. This is not correct – because even though a modular home is built in a factory as well, modular homes are transported differently and must follow different (and more stringent) code regulations.
Although manufactured homes can be a convenient and affordable option, there are multiple...