Without a doubt, the biggest factor that goes into purchasing property - for business or personal reasons - is whether or not it’s financially feasible. Not to mention, by taking out a real estate loan to make your purchasing dreams a reality, the interest rate will surely come into play. Just one or two percentage points on the interest rate can make a significant difference to your monthly payments, which is why many property buyers keep a close watch on mortgage rates as they prepare to make their purchase.
If you work or reside in the Washington, DC metro area, chances are a good chunk of your day consists of commuting. According to a global traffic scorecard, Washington, DC ranks 6th for the most traffic congested cities in the United States. Look on the bright side! Long commutes mean more time to catch up on some real estate investor news and knowledge.
Here are 5 real estate investing podcasts that are guaranteed to entertain, educate and quite possibly make your next drive or ride much more bearable 🚗 🚌 :
Buying, fixing, then selling properties is a lucrative venture, and the number of homes being flipped annually is on the rise. In fact, according to a report released by ATTOM Data Solutions, house flipping hit a 10-year high in 2016, noting that there were 193,000 flipped homes across the country. But identifying the right real estate investment requires you to find properties with features that appeal to buyers in the current market.
Here's what to look for during your search for the perfect investment property to fix and flip:
House flipping, generally defined as selling property in an arms length transaction a second time within a 12-month period, is increasing all across the country, according to Realty Trac, the information center that keeps its focus on real estate trends. During the first quarter of 2016, 6.6 percent of all sales nationally were considered flips, and the average gross profit from those flips reached a 10-year high.
When it comes to Virginia, it seems that the state isn't just for lovers - it's a good place for flippers, too. Here are some of the cities that are most conducive to fix and flip success...
You're days away from closing your deal, and you receive an ALTA statement from the settlement company with A LOT of numbers on it. And where has the old HUD -1 form gone? Here's how to make sense of the new ALTA....
You've gotten an offer on your fix and flip, and the buyer has ordered a home inspection. What happens next? Sometimes you'll sail through an inspection and the deal will close quickly. But what is the best course of action if an inspection report contains unexpected, expensive or (in your judgment) unnecessary items that need to be addressed before you can proceed to the closing table?
Foreclosures can be a gold mine for fix and flippers looking to "buy low". The good: often priced well below market, in desirable locations, and in desperate need of rehab, they are just what flippers are looking for. The bad: they are not such a big secret anymore, and there is a lot of competition to get them. The ugly: often the properties themselves are in pretty bad shape, and many will not allow inspections so they can be risky. But there are still great deals to be had if you know where and how to look for them. Read on to find out about the different types of foreclosed properties and how to find them!
Property flipping gets a lot of airtime these days, with lots of HGTV shows and flipping couples who have even become celebrities. Buying and holding isn't quite as sexy, but has many benefits. Which real estate investment strategy should you try? Or a little bit of both? Read on for a quick list of the pros and cons of each ...
After the months of sweat equity and money poured into rehabilitating an old property, you undoubtedly want a quick financial return on your real estate investment. Now that you’ve crossed the construction and renovation finish line, you may feel a bit guarded about spending extra cash on commission fees and are considering listing the property yourself. These short-term savings can have long-term negative ramifications. Hiring a top-notch real estate agent can streamline the selling process and ensure you receive top dollar for your fix and flip by getting your property in front of the most qualified buyers - quickly and efficiently.
Here are a few pretty compelling reasons to hire a real estate professional versus going it alone when selling your property: