October 19, 2015

Unlimited Real Estate Magazine 101615


Unlimited Real Estate Magazine

Delivering Real Estate that works for you

 

Brett Young reviews

Luxury Cash Flow Home

 

 
This property is located in a very high end area.  The home will demand $1600 a month in rent and will benefit in equity with the market trends.  The area is really second to none.  Starbucks and many other amenities are there for the taking.  You will get a great tenant and they stay for 2-4 years.  Lets look at the approx numbers:
 
Purchase Price_____$150,000
 
Rent_________$  1600
Tax__________$    325
P/M__________$    160
Insurance_____$     60
 
Net Proceeds
_____________$  1055
 
Remember this is a long term tenant home and it will go up in value with the way the current market trends are moving. Call Brett 216-703-5740 Coldwell Banker
 
 

Flip Real Estate or Cash Flow

 

 

This property has options: Rehab to flip or rent.

The home is a 3 Bedroom 1 Bath (we can add a bathroom easily) 2060 Sq feet.  The property is in good condition needs to be updated. The home is very affordable. Lets look at both rent and Flip approx numbers

Rental

Price______$59,900
rehab_____$ 15,000
Total_____$  74,900

Rent______$  1200
Tax______$      220
P/M______$     120
Insurance_$        60

Net Proceeds  $800 per month

Sales Numbers
Price______$59,900
Rehab_____$25,000
Total______$84,900

Sales Price____$115,000

This property located in an area that has very low days on market.  This property will rent or sale quickly.  Close to everything a family would want.  Call Brett 216-703-5740 Coldwell Banker or 
CLICK HERE TO EMAIL ME
 

 

Brand New Cash flow Property nets $627

 

 

This property is a 3 Bedroom 1 1/2 bath home that is in one of the most high demand areas available in this market.  We can get this property for around $60,000.  It will demand $950 a month in rents and will net $627.00 a month. 

This is a very easy rental and a great addition to your portfolio.  Call Brett 216-703-5740 Coldwell Banker 

This Property will not last call me today 

 

Great Property Buy

 

 

I found a great home in one of the top places to live in America. This home is surrounded by homes that sell $400,000-$700,000 there is even one listed at $3,100,000.  These properties are a 1/2 mile or less from this property.

The home also has several  acres around it and would make a great income property or second home.  This property will rent for $1200-$1300 per monthThe home will cost around $160,000 all in and will be a 3 bedroom 1 bath home.  This property will grow in equity over the next few years.  The area has gained 10% from August 2014-August 2015.  Which is extremely good and I think the area has a long way to go before it gets to the top price.

Here are the Approx numbers with a $1200 a month rent that will net you $770 a month. the quality of tenant and the length of time they will stay makes this a great income property.

If your looking for a great place to have a 2nd home or live this is a great buy.  Brett will assist you in the any updates you may want to call this property home.  Call Brett 216-703-5740 Coldwell Banker

 
 

 

2nd Home or vactaion Home Deal

 

Want to have this view when you come home?  You won’t believe the price $449,900 for a 4800+ square foot home on Lake Erie.  This is a 5 bedroom 5 bath home that has an awesome view.  This would be great for a second home or business retreat.  Close to all the wineries and activities in the area.  Call Brett 216-703-5740 Coldwell Banker
 
 

 New lending rules to help lower and moderate price buyers

 

 

This is a great sign of the trends you will see in the future real estate pricing. Just like the new car market lending is the key to it’s success.  You see the commercials we will get you a car and your loan is approved. This program is for families purchasing a new home for their family.  Here is a story from http://www.post-gazette.com/ by By Tim Grant.

The Feds have decided to start loosening the loan requirements for mortgages for the lower to middle income buyers.

As you see from a quote from the story the non-bar or household member can be considered to determine application debt to income. The reason for this is they believe that it keeps at home more stable than other ones in similar income levels. Simply said it’s a whole new way of getting a mortgage in there lowering some standards of that process.

“For the first time, income from a non-borrower household member can be considered to determine an applicable debt-to-income for the loan, helping multi-generational and extended households qualify for an affordable mortgage,” said the news release issued by the mortgage giant, which said its research found such extended households typically have incomes that are as stable or more stable than other households at similar income levels.”

This is yet another sign of the coming future of the market this is the missing formula for a successful sellers real estate market. Remember the higher income individuals go conventional which is not FHA. They are usually easier to qualify because of the higher income. That market is really doing well today.

This new formula Will allow new blood to come into the mortgage market and with the low inventory that means that they’ll be the pressure on the pricing market that will help get Equity positions back to their original state. It will also help real estate investors who bought properties in the right areas also to see a large improvement on their equity position. That’s when they may want to think about selling in the near future.

“Fannie Mae’s move could be a step in the right direction, said Howard “Hoddy” Hanna III, CEO of Howard Hanna Real Estate Services”

If you do need your property and analyzed and please give me a call I have a great system that helps investors keep their properties moving in Direction of the market Call Me 216-703-5740 Brett Young Coldwell banker 

You Can Also Click Here to Email Me

 

Building Real Estate to live and make money with

 

 

Click above to view some kitchens we’ve done

 

When you’re looking to buy real estate as an income venture you may want to consider a couple other options when you’re doing that.

 

I found the story in the talks about how he family purchase property to rent in later moved into it.

http://www.dailytelegraph.com.au/  By Jen Melocc.  This family decided they wanted to have a family and the husband wanted a different career.

 

Remember when you want to purchase properties for income you may want to also consider your financial freedom through having very little payments are no payments on your property in The future. That means pick a location you would consider living if you wanted to later.

 

That’s why I’m pushing the luxury rental market. These homes are in super areas that have all the amenities you want to live by. You may want to move some point time in your life when you decide maybe I want my financial freedom and I want to do other things besides what I’m doing. having a place that you can golf, Fish, Shop, Eat or whatever you like to do.

 

Imagine not having a mortgage and being able to go to some of the finest eateries you can find anywhere. That is the type of real estate I am talking about.

 

Being wealthy does not mean you have a zillion dollars in the bank it means that you have almost no bills and you have plenty of money to cover what you want to do in your free time. That’s what we all get in the real state is to have that free time and having it in a area you can enjoy with family and friends.

 

The other reason is maybe you want to change your career do something different very difficult when you have a high mortgage payment or high bills to do that.

 

That’s why you need to consider the Cleveland Metro area I live here and I love it. Having the right type of real estate in your portfolio can do two things make you a lot of money and give you a place to stay when you want to change your life or you want to chill and have some fun in the meantime with your financial freedom..Brett Young 216-703-5740 Coldwell Banker

 

 

6 Advantages of Real Estate Investing

 

I found this story at http://www.entrepreneur.com/ by Brandon Turner that talks about some important advantages to Real Estate investing.  I wanted to go over a couple of points I like about real estate investing.

#1 Cash flow this is an often used advantage as along as the cash flow happens. Getting a consistent cash flow is the key to the success in Real Estate.  Good cash flow has a couple very important factors that every property you purchase must have.  #1 Location Location Location a huge factor for two reasons.  The first being the better the location the better the tenant selection. The second being the property management of your property.  You need both to get the money you want monthly and build equity in your investment.

#2 Hedge against inflation is another prime reason to have investment real estate.  Real estate prices are high in low inflation and great cash flow in high inflation. I remember in 1985 when I started purchasing real estate in the Phoenix area I bought condos for $15,000 that rented for $800 a month.  That was because of inflation. In the 2000’s when inflation was in check I flipped real estate.  That is what they mean a hedge against inflation.  It protects you in all markets, remember people need a place to live.

#3 Control this is the one I like a lot! You can control your own property there is no other investment that you can do this with.  Like they mention in this story you can rent your property or sale it.  It really depends on the market.  The key as I mentioned before is location of your property.  In order to have control you need to have property in areas that have both high rental demand and high sales demand.  That is very important. I have a property in an excellent area that I will probably sale in 2017.  The prices are going up, I currently make a solid income on my cash flow.

Having the right real estate can do so much for you.  That is what I do is find the gems in the areas that will benefit my clients the most.  Call Brett 216-703-5740 Coldwell Banker and lets talk about your portfolio and how I can benefit it. We have a great new program that is buying in brand new areas that will benefit you in all markets.

How to make more money with a Home

 

 

 

Every property that is priced above the $150,000 and up, needs to have a few updates in order to sale for the top price and quickly. I personally go through a lot of properties have the same values but why do some close in a few days and other it takes an eternity? 

When your wanting to sale a property from an investment stand point or a personal residence stand point you need the same updates in both that to help property sale fast.

One of the crucial things that I have noticed that buyers really must have to sell your property fast.  That is a updated or new kitchen.  Kitchens are a very important part of a buyers decision to purchase a property.  They entertain and have family get together there often. For example I had buyers out that are looking at $300,000+ properties.  We have looked at around 20 properties and only 2 of them had an updated kitchen.  Guess what those two properties are sold.  The others were outdated and really looked cheap and still on the market. I remember one home that had all different colored appliances in their kitchen. That was a $350,000 dollar home, really sad the Realtor did not tell them they needed to update the kitchen to get their property sold fast.

The other consideration would be bathrooms.  Vanities are not that expensive. Putting a new one in and a toilet just does not cost that much. The bath tub can also be replaced or sprayed by a company that is really good at it.  I personally have a guy that paints them like cars and they look fabulous. He charges $325 to do that.  The flooring should also be updated and tiling the shower area is a nice touch.  Also replace the shower heads and all the other knobs there. This will really update your home and make buyers take notice.

These are two critical issues that need addressed before you sale your property.  They can be expensive if you don’t use the right people that understand you need to make money.  As both a contractor and Realtor I understand the challenges in selling a home and will assist you in getting your investment sold quickly.  Call me today 216-703-5740 Brett Young Coldwell Banker

 

 

 

 

10 lethal mistakes for real estate investors

 

I found this story in at http://www.bankrate.com/ by By Pat Curry that talks about how investors need to look at their real estate investment.

I going to go over a few of these items but it is a great story. Lets start with number 2 Thinking You’ll “get rich quick”.  I think there are a lot of forums out there that teach that.  They expect you to buy in areas that they usually don’t live in and tell you that volume is king.  In other words you’ll get a better price on everything if you buy in large groups. Real Estate can get you very wealthy through proper purchases in the right areas.

The cost of each home depends on many factors and in order to save money you need to get rid of that middleman.  I met a unlicensed real estate buyer that had clients that he had purchase in some questionable areas(wholesale deals).  He was trying to get me to sell them for him because his investors wanted to get some quality real estate. I of course would never consider those types of properties.

Remember with nicer real estate the cost on the home is higher, and they usually need less fix up. These properties are hard to wholesale to investors.  Investors have to get these directly from the original seller in order for it to work.  They usually do not need much fix up and they are mostly sold through the MLS. I think this market really helps the investor in two ways.  They get the best price and consistent income and these homes usually build good equity.

Lets go over one more number 3 Playing the lone ranger. You have a very hard time knowing what to buy doing this.  I work over 60 hours a week on just real estate. That is all I have done for the last 15 years full time.  I have purchased and seen more homes than 99% of the public. I have also did 100’s of investment properties and understand the better buys for my clients.  Being a lone ranger does not allow you to have a second set of professional eyes that can look at it through many years of experienced eyes.

I have a client that has spent all his money on courses to try to understand real estate and be a lone wolf.  After over $100,000 in money spent he has 0 properties.  That makes it very difficult to build a nice income property base. He calls me all the time with very outdated and impossible ways to buy real estate. 

Look for smaller firms that have a track record and understand their local market. You do not have to be in a large investment club to get the best deals. They have a lot of overhead and pass that on to you while telling you that they are getting you the best deals.  Make sure you use a Licensed Realtor that has a main focus of investment real estate in their practice.  You can also call me if you want to buy in the Cleveland Metro Area 216-703-5740 Brett Young Coldwell Banker

 

Keeping your income property making money

 

 

 

Keeping your property making money has many different facets. First you have to consider the cost of the maintenance and what it will cost you do not do the maintenance in the future.  For example if a client of mine has an asphalt driveway that needs resurfaced. The cost to do that is $750.00.  If they wait until next year the driveway will have to be replaced costing them around $4,000.

As a property owner you also need to have to make sure and only do what is necessary and not over spend on the project.  That will eat into your income for that property.  It is a delicate balance between over spending and under spending. Dealing with a company that understands it’s an income property gets you properties done in a correct manner.

After the maintenance is finished you need to get a tenant into your property. We also do this for our clients.  Getting the most amount for your rent requires a company that focus on getting your property rented with massive marketing and working with your management company. We get more money for your property because that is what we do. We can also get you set up with our management or another property management that will take care of managing your properties.

If you are having difficulty with your property making money get with us. http://rentdirectpro.com/

In the end we can keep your cost down because we know this business inside and out.  Our clients save both time and money with our service.  We help make your property a turn key deal.

If you need our services please Call Brett 216-703-5740 Coldwell Banker