| |
| |
|
Real Estate Information |
|
|
|
Cant Rent a Work Zone
So you've picked up your first (or third, or tenth) income property, and it's a real fixer-upper. You've got a great team of contractors, and you know what they need to do and how much time and money it's going to cost to make it happen. The renovations are going to put you in the red and you're going to need to get a tenant in there ASAP. So as soon as you have the plan worked out with the contractors you run an ad and start showing the place, right? Not if you don't want to throw away money, you don't! Prospective tenants lack imagination, and this is never so evident as when you're showing them a place that is missing walls, is covered in construction dust, badly needs a paint job, has a gutted bathroom . . . you get the idea? "Curb appeal" is a concept that refers to the attractiveness of the outside of a house. Equally important is what I call "Foyer Appeal," which is how the inside looks when you're standing in the front door. If your curb appeal is poor (which is likely while you're renovating, since your money is best spent on the inside problems first), half of your appointments will be no-shows because they assume the outside is representative of the inside. On the flip side, poor foyer appeal will turn off the ones that actually walk in the door. No matter how clearly you explain what work you've got planned, the best you're going to get is, "I'd like to see it again when it's finished," and you'll be lucky if a third of them offer that level of commitment. Let me put it another way: if you're savvy enough to know the importance of online marketing, you also know that pictures are the most powerful part of your internet ad campaign. Are you going to take pictures of a construction zone, or a place that looks like a tornado hit it, and expect a high response rate? Or maybe you'll just skip the pictures entirely, so that ninety percent of your potential tenants just scroll on by without a second glance? Having good pictures could cut your advertising time from two or three months to under a week. If you're putting money into a property, it stands to reason that you're going to want to recoup that investment as quickly as possible. Showing an apartment that isn't ready for a resident wastes your time and advertising dollars, could permanently turn off potential tenants, and might give you an unearned reputation for low-quality housing. Start your marketing when the punch list is cleared, and your prospective tenants will be far more likely to sign on the dotted line. © 2005 Terence P Ward, all rights reserved.Terence P Ward is the President of Landlord for Hirehttp://www.landlordforhire.com, a residential property management service of Green and Clean Corporationhttp://www.Green-n-Clean.biz, based in the Mid-Hudson Valley of New York State. You may find contact information for him on either of his company's web pages.
MORE RESOURCES:
Real-Estate - Google News |
|
|
|
RELATED ARTICLES
Selling Houses Fast: Basics of Design & Color Psychology Fixing up houses to ready them for sale includes a design plan for needed changes. Save money on transformation costs by choosing design details right the first time. What is Tax-Deferred Exchange? Under Section 1031 of the Internal Revenue Code, owners of real estate held for investment or use in a trade or business can swap their property tax-free for "like-kind" real estate.Exchanges are made for people wanting to stay invested in real estate, increase their leverage and to avoid paying hefty taxes upon the sale of property. 10 Frequently Asked Short Sale Questions 1. What happens to the seller's credit rating when they allow an investor to short sell their property?What typically happens is the loan will show up as "paid" on their credit report; however there will be a notation that says "settled for less than originally owed" or something along these lines. Closing Costs When Buying A Home Closing costs are often the last thing a person thinks of when buying a home. While closing is the joyous moment the home becomes yours, the costs can be surprisingly aggravating. What is a Foreclosure? A foreclosure is an action taken against a property owner by seizure of his/her real property. It can be for many reasons. Maltas Market Battle With new destinations such as Bulgaria, Slovenia and Croatia offering two and three bedroom apartments for sale for £50,000, there was concern last year among some Malta estate agents that 2005 could see a drop in the number of UK and Irish buyers choosing to buy a holiday home on the island.With good all year round temperatures enticing many buyers for the winter months as well as the summer, driving on the left and a warm welcome from the local population who nearly all speak English, Malta has been popular for some years among overseas property buyers. Youre Not Paranoid: The House Really Hates You If you've just bought a house, you may be able to relate to a fascinating essay in Maya Angelou's book, Even the Stars Look Lonesome.When Ms. Don't Just be a Real Estate Agent, be a Professional! Buyer Broker Agreement? What's that? Most agents don't ask their potential buyers to sign anything. It is too?well?you know?uncomfortable. Real Estate Bankruptcy Although real estate bankruptcy cases no longer dominate the bankruptcy courts' dockets as they did in the early nineties, but they continue to be filed with great frequency in UK. At its essence, the real estate bankruptcy is a two party dispute between mortgagee and mortgagor. Homebuyer Heaven Can't Possibly Last With interest rates at record lows over the past year, there's really only one way for them to go, the only question is when. Most experts agree that rates will remain fairly stable in the short term, at least until the end of the year, and some believe they will even decrease slightly. Selling by Owner = Saving by Owner? According to the National Association of Realtors, For Sale By Owner (FSBO) home sellers comprised nearly 14% of all home sales in the United States in 2003. The Boston Globe reported that nearly 25% of homes sold in that area during that same time period were FSBOs. Residential Income Property Financing: Part 2 of 3 Welcome to the second segment of a three-part series about income property. In this second segment we will be discussing financing options for residential income properties as well as the upside (and downside) of owning this type of property. Wealth Building - An Advantage of Home Ownership As you grow older, the issue of wealth building comes front and center. Wealth building simply refers to increasing the net value of your total assets. The Secret Jewel in the Mediterranean Crown Since the Northern Cypriots famously voted 'yes' to the UN backed Annan plan for the peaceful reunification of Cyprus in 2004 the world has awoken to the secret and hidden beauty of this untouched jewel in the Mediterranean crown. Those open-minded and individual thinkers seeking elegant living, unrivalled Mediterranean-region investment property opportunities or their own hideaway are today embracing Northern Cyprus. Why I Love Country Living As somone who has lived in both places, I can tell you that country living certainly beats the hustle and bustle of city life! Living in a rural area has advantages that simply can't be bought at any price.In the city I was bombarded with the sounds of horns blowing and sirens blaring. What Is a CMA "CMA" is an abbreviation real estate agents use for a Comparative Market Analysis. A CMA gives an estimated sale price for a property given current market conditions. Sell Your Home Without Paying Any Commissions All of us know that real estate commissions can work out to quite a bit of money - anything from a few thousand dollars with discount brokers to 6% in commissions with full-service agents. That's a substantial sum of money to be paying for something you could very well do on your own. Selling A Home - What Attachments Stay or Go? The home selling and buying process can be confusing. This is especially true when it is a FSBO (for sale by owner) operation. Planning for Real Estate with Estate Planning One of the most important considerations you will need to make in regards to your real estate holdings and your estate includes tax planning. If not handled properly, your estate could end up getting hit with significant losses due to taxes after your demise. How to Choose Your Real Estate Lender Because you need quick action when applying for a real estate purchase loan, find a lender you can access easily. A lender's quick response signifies good service to follow.
|
| home | site map | |
| Realty Web Services © 2007 | MesaSky Services |