Real Estate Investing Palooza » Real Estate

Buying Land In Southern Oregon

Real Estate Investing Expert — Tue, 24 Aug 2010 02:51:31 +0000

Right now is a great time to buy land in Southern Oregon due to the extreme buyer’s market that Southern Oregon is currently in. The entire country is in a recession and there are good buyer’s market to be found all around but Oregon is a specially good. The unemployment rate is quite high in Southern Oregon and as a result, many landowners are selling their property quite inexpensively.

It’s really rather easy to find cheap land in Oregon right now. If you are in the market to purchase land, it’s a good idea to find land that is for sale by owner if you can. There are a couple of reasons for this. First, people who were selling their own land don’t have the expertise or experience that are real estate agent might give them. These people are at a disadvantage when it comes to the negotiating time.

The second reason that it’s good to buy land from someone who is selling it themselves and not using are real estate agent is because these people are often very motivated to sell. Oftentimes they are selling the land themselves because they want to avoid paying are real estate agent a commission.

They sometimes think that they will get a better price by selling it themselves but what usually happens is that they get less. Don’t be ashamed to put in a very low offer when buying land in Southern Oregon right now. By placing a very low offer you give yourself some room to negotiate if they don’t accept the offer and still purchase the property at below fair market value.

There is so much land for sale in Oregon right now that it just doesn’t make sense to pay fair market value. If you can’t find land to buy that is less than fair market value, you’re simply not looking hard enough because there is a lot of it around.

Should You Buy Land During These Tough Economic Times?

Real Estate Investing Expert — Sun, 01 Aug 2010 22:04:51 +0000

There’s no doubt that we are in some tough economic times right now. Many people have lost a bundle when the stock market took a dive. Unfortunately a lot of people are being too conservative and sitting on their money right now for fear of losing more of it. The basic strategies for choosing any investment are to buy the investment at the lowest possible price and sell it at the highest possible price. It’s sometimes difficult to do that and it’s tough to know when the best time to buy is.

Smart investors will take advantage of these tough economic times and realize that land prices are undervalued right now. Those who are smart enough to buy land while the prices are so low will stand to make some tremendous profits. Smart investors are able to buy land for pennies on the dollar.

There are two strategies that come to mind when buying land. The first is to buy land that is undervalued and immediately put it on the market to try to make a quick buck. The second is to buy land that is undervalued, hold on to it for the long run, and sell it when prices are at their all time highs. The strategy that you choose will depend on your current financial needs. If you are in need of developing quick cash flow the first option may be the best for you. If you are looking for long-term investments, you obviously should choose the second option.

Many people know friends or family members who were smart enough to buy land when it was really cheap. It’s not uncommon to hear people say things like “I wish I would have bought land when it was so inexpensive.” The smart investors realize that we are in one of those times right now. Don’t be left out in the dark and miss out on this opportunity to buy land that is cheaper than you may be able to find it any other point in your lifetime.

Tips to Selling Your Home Faster

Real Estate Investing Expert — Tue, 20 Jul 2010 15:00:54 +0000

Several years ago, homes would sell quickly no matter where they were located, what condition they were in, or what was wrong with them. In fact, I would argue that price didn’t even matter! All that has changed. In this real estate market, you need to do everything you can to impress those picky home buyers. Here are some ideas that can help your home stand out from the competition:

A recent statistic said that over 85% of home buyers will spend time looking at homes on the internet before they ever call a real estate agent. Despite that statistic, I am amazed every time I see blurry, dark or bad pictures of homes on the internet. Even more frustrating is the real estate agent that only posts a single exterior shot of the home. This may be the only contact you ever have with a web surfing home buyer. Why not spend the extra money and have your home professional photographed?
If you have any old appliances in the kitchen or laundry, replace them now. Even inexpensive new models will look better than that 1970s harvest gold unit. It may seem like a small item, but home buyers do notice these things, especially when they are looking at Maple Grove homes for sale.
When I tour houses with clients, I am amazed to see a nice kitchen, clean bathrooms, but then 20 year old carpet in the master bedroom. The buyers are turned off instantly. Even if you get the carpet at a discount and buy almost the cheapest made, replace it with a decent color that will take that objection off the table.
Have a professional cleaning company come in and clean your home prior to putting it on the market. Not only will you enjoy not having to spend 8 hours yourself, but they are going to clean in places that simply ignore since you see it every day. There are cleaning companies that specialize in prepping homes for sale.
It has been demonstrated that homes that are professional staged will sell quicker than ones that are not. The home stagers may get paid $500-$1000 to do their work, but if you can sell your home 1/2 as fast, that money is well spent. Even if you think you have a beautiful home and it does not need any work, trust these professionals to give you good advice. There are several different stagers that specialize in Maple Grove houses.

Selling your home quicker will help you get the most money possible for it and don’t we all want that!

Property Investing Tax Breaks

Real Estate Investing Expert — Wed, 16 Jun 2010 18:26:56 +0000

Property investing has so many possibilities when it comes to making money. Many people may not be aware though that there are many possibilities to save money as well. I will discuss three tax breaks everyone should be taking advantage of.

Although there could be many different tax benefits to owning a home, there are definitely at least three big ones you must be taking advantage of. I would like to point out that these benefits can be taken advantage of beyond what many people typically think.

Tax break one- Write off your mortgage interest. Everyone knows they have to pay the dreaded mortgage payment, but they often forget about being able to write off the mortgage interest when they are figuring there yearly expenses. The best thing about this benefit is that it can be used in all properties you own. In fact you could write off the mortgage interest on 100 different properties if you wanted to.

Tax break two- Write off property tax. Property tax is similar to mortgage interest in that it is tax deductible. It is also similar that the benefit applies to all properties owned.

Tax break three- A big one that can help if you intend to sell your home. If your property goes up in value it used to be that you had to pay capital gains tax. Other than a few creative strategies the only real way to avoid capital gains was through a tax deferred exchange. The 1031 tax deferred exchange, this was a way you could take the capital gains and use them in the purchase of a more expensive or like-kind property thus deferring the tax liability. Now the law states that you only have to pay capital gains if the property goes up in value over 250,000 or 500,000 if you are married. Any amount over this of course relegates you to the 1031 method.

Property investing has so many benefits beyond just the business, and the tax benefits are practically endless for those willing to research the advantages.

Why You Need a Buyer’s Real Estate Agent

Real Estate Investing Expert — Mon, 24 May 2010 16:49:04 +0000

It goes without saying that buying a home is a large purchase. One that many homeowners do only every 5-10 years. Yet despite this infrequent, but large purchase, many choose to venture out and do it alone. Many buyers just figure that if they have access to the MLS, they have everything they need. I think that you are putting your purchase at risk by not using a buyer’s agent. Here is why:

In most areas, the buyer’s agent is paid a portion of the listing agent’s commission. Consequently, it is FREE to use a buyer’s agent. Why not let them do the work for you, help you get the best deal and have someone else pay them? What other purchases let you do that?
Any real estate agent should be familiar with the all of the legal, ethical, and customs of their local market. This can help you not only navigate the process easier when you do find a house you want, but it can also help you put together the strongest offer possible to help you get that new dream home.
Using a buyer’s agent that specializes in a specific area, such as Lake Minnetonka Homes for sale, may give you some inside knowledge on what to pay for a home once you find one you like. The agent should know how this home compares to others that have sold in the area. He can also tell you where the nearest shopping is, how the schools are, and any other items about the community.
Every real estate agent has list of other reputable housing resources that they can refer you to such as inspectors, painters, movers, and such. These referrals can be an invaluable resource to insure you are using a vendor you can trust.

Using a buyer’s real estate agent is one of the smartest investments you can make when looking to buy a home. And it is free!

Foreclosure

Sat, 24 Apr 2010 16:48:32 +0000

Property foreclosure is a terrible experience for anyone involved, but it is a necessary evil in the real estate investing market. I do not think there are many people out there that feel that relish getting involved in any type of transaction that deals with a foreclosure but on the real estate investment end of things foreclosure does offer some opportunities as well as some positive aspects to the community.

Now I am not saying that people that have been foreclosed on are trash and that they don’t deserve to own houses and I am not saying that real estate investors should go around preying on potential foreclosures. However foreclosures do tend to be a blight in the communities and can lead to pockets of neighborhood degradation.

Here are some benefits that real estate investors bring to the table in a foreclosure situation:

Properties that have been foreclosed are often left in disrepair. They may have been vacated quickly and the departing owner often takes out some frustration on the property. After that they often sit in limbo for many months without an effective owner. During this time period the property can degrade quickly and become a local problem. An overgrown house can be a magnet for vandalization or other crime. In the short, it does not help local real estate values. Investors can often take possession of the property before it becomes any type of a problem. Or they can whip it into shape quickly and get it occupied. Increasing the local pride of ownership.
House sitting in limbo are not available to potential renters. This causes the level of demand for rental properties to go up. This is good for owners, but bad for renters. In the scheme of things a healthy rental market will be a win win situation for the renter and the owner. If there are more rental units available the owners will have more of an incentive to keep the properties in good shape and attractive to potential renters.
Real estate investors buying foreclosures are often the starting point for the real estate whole sale market. This is the beginning of the real estate assembly line so to speak. If there is no property available on the whole sale market there is a reduced number of homes available to buyers in the retail market or even the secondary investor market. Investors often take property off of the market that many people don’t want or can’t handle. Investor expertise can be attributed in large part to renewal of many urban areas or the development of new areas.

Foreclosure happens in good markets and bad markets and real estate investors should always be on the lookout for potential deals and area where they can really make an impact.

Property

Sat, 24 Apr 2010 16:41:05 +0000

My thoughts on property and real estate investing in my local area have lead me to some interesting discussions and realizations about the real estate market.

First a little bit of back story. I live in an area that is about half and hour away from Austin Tx in a small town that is relatively economically depressed when compared to many of the other surrounding areas. The powers that be are in control and don’t want a whole lot of change, but they are also old. The demographics of the area are old and young, without too many people in the middle. Only about 40% of people in town own their own property. There is not much of an employment base in town and most people that make any money work in Austin or from home.

That said I was kind of scared to invest in local property because of the lack of employment in the area. This lead to a discussion with a successful local investor that has no problem buying lower income housing and financing on a 10 year note. He pays 20% down and gets many of his properties for less than $60,000. Having a relationship with a local banker is essential to the success of his business because it allows him to be able to close quickly.

I like this approach for a couple of reasons. First, it keeps the property close to home and keeps the cost down. Second, we are talking about payments as low as $400 per month, even on a short term loan. There is a minimum rental price for single family homes and this monthly payment is well below the minimum. It is also not a stretch to say that if I had to pay carrying cost I could afford $400 a month for a few months.

Another consideration that I had not taken into account was that when you are dealing with families looking to rent out a home in the $600 – $800 range you are dealing with renters that are either on their way up and out as most people will be at some point in their life, or you are dealing with people who will never leave. Either way you have the potential to have a winning situation.

I have reevaluated my real estate investing strategy and will be apply the strategy to buying local property.