Hiring a mover watch those hidden costs

The impending move is getting closer, but that's ok, you're on top of everything. You've done your due diligence, researched various movers, received three estimates and have a good idea of your final moving costs. Now it's time to build all those extra costs into your budget. You will be shocked when you start building up your inventory of boxes and packing supplies. This is big business and companies are making a lot of money selling this stuff. Try to re-use whenever possible. I found our local liquor store and grocery store to be most helpful when I moved. Actual moving companies sell re-used boxes and packing materials at a discount as well. Start collecting early to build up your supply. Enquire as to the cost of purchasing last minute boxes in case you run out on moving day. It's quite costly to purchase these new directly from the moving company. Providing lunch and beverages for the movers is a gesture that is extremely appreciated. It also ensures they aren't running off to get lunch elsewhere and using up your valuable moving time. You may want to plan on a morning snack and pizza later on, with the occasional coffee run. You may consider tipping your movers, it's totally optional, some do, and some don't. If the movers are paid hourly, they may not have estimated enough time for the job and every extra hour gets added to your bill. Replacing damaged goods during packing or delivery can add to your budget. If you've purchased added insurance, the guidelines for making a claim are stringent, ensure you read the fine print. Generally your standard homeowner's insurance does not cover contents while they're in transit. Certain larger items may require special handling such as a piano, artwork, a billiard table or a vehicle, which translates into more dollars. How are you getting to your final destination? Don't forget to include your own traveling costs, hotel, meals, and transportation. If you are shipping your vehicle to the new home, those costs should be added in as well. Generally movers do a pretty good job of estimating the final weight of a shipment, but it's never exact and rarely do they estimate lower than the final tally. Be prepared to owe more than planned for the final cost per pound. If you will be requiring storage for your contents, make certain you understand not only the cost of storage, but the cancellation and late fees that may also apply. One ray of sunshine that may be available to you, if your move is job related and a specified distance closer to your new job, the expenses could result in a tidy deduction. Research your tax laws and see if this applies to you.

What kind of sellers are real estate investors looking for

Copyright 2006 National Real Estate Network LLC You are looking for sellers whose #1 objective is to sell their property. You are looking for motivated sellers (A DON’T WANTER). If you are dealing with any one else, you are going down the wrong road. It would be a good to get a real estate license. Even when you are dealing with someone who is not a motivated seller and who’s #1 objective is not to get rid of the property, a real estate license can earn you money by listing the property for the person, or referring them to someone else that would be better as a listing real estate agent for the property. When I call on someone who wants to sell their property, I have found they know the value and their options. We review what the after repaired value is with them and what we would offer. We also advise them as to their options regarding getting pre-qualified by a mortgage company, or any other options that might be the best solution for them. If they are motivated sellers whose #1 objective is to get rid of the property, then they will look to work out a sale with you. I feel it is important to let them know all their options such as to list property, take investor offer, or refinance property. If you present to them what is you see as their possible solutions it will make a difference for them regarding saving the property through refinance, or you might get the listing or referral fee from another realtor that gets the property sold for the owner. The bottom line is you served them and in doing that, you get taken care of also. Some examples of motivated sellers are: a. Divorce—The couple has separated. They now have doubled their individual overhead. They have two house payments now. The home they shared required two incomes. The marital house is headed for foreclosure b. Probated estates - the attorney in charge will want to liquidate the estate as quickly as possible c. Tired landlords—people who jump into this business and can't handle property management. d. Loss of job e. Move out of state - double house payments f. Partnership split The business of finding motivated sellers is good one. g. Foreclosures h. Tax Forecloures In this business, key is to stay focused on making sure you have motivated seller. Said anyother way is that the person #1 objective is to get rid of their property. Good hunting for Motivated sellers!

Real estate investors offer perks to retain tenants

Real Estate Investors Offer Perks to Retain Tenants What tenant wouldn't love the allure of high speed Internet and a computer of their very own? This is one of many incentives that investors and property owners are offering in order to retain or reward long term tenants. There are other rewards that are just as effective and cost property owners a little less in order to keep the tenants such as gift cards to restaurants after the renewal of a lease or gift cards at furniture stores for lengthening an existing lease. Savvy investors realize that an empty house, apartment, mobile home, etc. is money that is being lost each month that these sit empty. The same savvy investors also realize that by keeping tenants longer they are often able to prolong the installation of new carpet, new paint, and other cosmetic repairs that are often required when a dwelling is turned over. In addition to the costs of these repairs there is also the time problems of these repairs as many of these cannot be completed in the course of a day or two and leave the apartment out of commission for at least a week if not longer. Bottom line is that the time the apartment sits empty is essential income that is lost. If you do have an empty apartment or house there are things you can do in order to entice renters to sign a lease. One thing that many potential tenants find appealing is offering to allow them to select the color scheme for the walls and flooring. Too many rental units permit only white walls to their tenants. Imagine the benefits of not only allowing them to have walls in designer colors but also doing the work for them. This is a great incentive to many renters who love the idea of the final look but not necessarily the expense or work involved in creating that look. The ability to have the colors of choice when moving in is a huge bonus to many renters that should not be neglected or overlooked. Another thing that tenants find helpful and appreciate in a rental property are the little luxuries such as a dishwasher, garbage disposal, built in microwave, washing machine, or dryer. These things are luxuries that many find are well worth signing a longer lease and even paying a little extra for each month. Garages and carports are another great bonus to potential tenants if you have the facilities to provide this. There are other enhancements you can make to a property that makes it more appealing to long-term tenants. Some of these would include ceiling fans, a fenced in yard for children or pets, and free cable television. It is the little touches that often appeal to renters and you will be amazed at the difference they make. By offering your tenants something that every other landlord in the area is failing to offer you are standing out from the rest. You are also creating a 'spoiled' tenant who isn't going to be content with what the other landlords have to offer when the time to renew the lease comes around. For this reason he or she is likely to stick around for yet another six months or year until the new lease expires, at which time you, as the savvy investor you are, can convince them to once again name their price for staying and offer yet another beautiful incentive in order to keep your clients happy and in place. 588

Outdoor rooms add great value

Outdoor rooms are all the fashion in areas where the climate can support the use of them. Florida is a great example of such an area. With an unrivaled climate and number of sunny days per year the outdoors is a perfect spot to add a functional room that will add thousands in value to your home. Plus it can take advantage of available space while creating a beautiful and useful room that is not hindered by walls and conventional restrictions. There are some guidelines that you should follow while planning an outdoor room. You should set out the amount of space needed beforehand and make sure that you make contingency plans for any needs that may crop up along the way. The usual choice for an outdoor room is an additional kitchen/dining area. As kitchens are the most social room in a home, it makes good sense that this should be the outdoor gathering spot. Be sure to allow enough space for all the necessary amenities like a grill, sink, counter, and seating. Another thing that must be considered is the effects of the weather and nature. If the area is under direct sunlight all day long then a gazebo or pagoda will be necessary for the area to be comfortable. Also, netting might be a good idea if the area has a tendency to be frequented by insects. There are many ways that you can personalize this kind of space. The decoration of such an area will be quite different from traditional decorating due to the lack of walls and other normal "art spots." However, the effect can easily be achieved by the use of plants, creative seating and knick-knacks and decorations on the flat surfaces. Also take into account the effects of lighting for the evenings and try to create a special aura for the area. As an area where much of the year is spent outdoors, Florida homes are the idea spot for these rooms. The addition of one will surely see a great ROI when them home sells.

Investors how to buy a house for your rent to own inventory

: First and foremost, this article is for investors. As an investor, you should not (must not) have any emotional ties to any of your properties. You are in this business to make a fair and honest profit, and you will sell your home(s) when it makes sense to do so. Your goals should be to buy low and sell high, generate a positive cash flow while you own the house and use as little of your own money as possible. OK, so now how should you go about buying a house for your rent to own inventory of homes? Location: Stay in your comfort zone. If you are not familiar with the laws and regulations in other states, stay in your home state. If you must "touch and feel" (see) your properties, stay within a comfortable driving range.

If you are not comfortable with certain types of neighborhoods, whether it be an urban blight area or upscale posh area, don't go there. There are plenty of opportunities in your comfort zone. All you have to do is find them and BE PATIENT.

Buy low: The best way to do this is to find a motivated seller. Here are some obvious (and some not so obvious) ways to find that seller:
1. Search the MLS listings in your preferred location(s) for properties that have been listed for more than 90 days.
2. Check public records for foreclosures and/or tax delinquencies.
3. Read the obituaries in your preferred location(s). There might be a house in the estate that must be sold.
4. Check public records for divorce filings. Many times a house must be sold to satisfy a Judgment.
5. Advertise in local newspapers and on the web (for example, place a free wanted ad on JSC Rent To Own Homes).
6. Look for a high growth area where builders are extremely active. You will discover there will be people who are unable to sell their home because the builder incentives are capturing all the qualified buyers. These neighborhoods are usually very desirable, and there are motivated sellers unable to sell. That sounds like an opportunity, doesn't it? Here is your advantage. The person that you will try to find to rent the house after you buy it probably is not a qualified buyer to the builder. Builders want bank qualified buyers. Typically, people who are seeking a rent to own opportunity do not qualify for a mortgage with a bank. All you have to do is have a good renter/buyer lined up to move in to that desirable neighborhood.
7. Let your good renter/buyers find their own rent to own home. If you have a good prospective renter/buyer that is asking for your help (and you will if you do your job properly), give them the opportunity to find their own rent to own home. You have to set the ground rules, and they will think you walk on water. It is strongly suggested you develop a relationship with a good realtor who will follow your ground rules, take your renter/buyers on showings (most homes are listed anyway) and save you the time of doing this yourself. Bottom line - If you find a motivated seller, you should be able to buy the property below appraised value. Sell high: In this scenario, sell high refers to the option price you will set with your renter/buyer. Keep this in mind - If your renter/buyer was able to qualify for a mortgage today, he/she would probably not be your renter/buyer. He/she would simply buy a house without your help.

Furthermore, the renter/buyer is probably a frustrated renter who wants to be a buyer. In other words, you have a motivated prospect, and that prospect should understand that you are a business person who is entitled to a FAIR profit in exchange for the risk you will take to help them. Bottom line - your prospect is probably not very price sensitive, and he/she will probably accept any fair number. In my opinion, a fair option price should be the current appraised value (not necessarily what you paid for the property) plus an amount equal to the average annual rate of increase compounded annually for each year of the option term.

Allow me to explain by way of example: First, try to keep all of your option terms to one year. It's to the seller/landlord's advantage. So, assume you own a house with an appraised value of $150,000 and prices have been increasing an average of 8%. For a one year contract, you should set your purchase price at $162,000 ($150,000 + 8% of $150,000 or $12,000); a two year contract, $175,000 ($162,000 x 1.08 = $174,960). Positive cash flow: Cash flow is defined as the amount of money you receive per month minus the amount of money you spend per month. Obviously you want that to be a positive number. 1. First let's look at how to minimize the amount of money you spend per month:
Your mortgage loan: You could put a large amount down to minimize your monthly payments, but that would not be wise. The best thing you can do is find a good lender who is willing to work with you. They are out there. A good lender will realize that you will bring in many deals, and most up front fees should be greatly reduced if not eliminated. Ideally you should be able to borrow up to 90% LTV amortized over 30 years without having to purchase mortgage insurance. You should avoid high interest fixed rate loans. You plan to sell the house in a short period of time so a 30 year variable rate loan with a fixed interest rate period of 3 or 5 years will be much better. In our example, we borrow $135,000 at 5% amortized over 30 years. That is approximately $725 per month (principle and interest) Furthermore we use an additional $300 per month for taxes and property insurance. The lease: Your tenant is not just a lessor. Contractually he/she has the right to become the owner of the home. As such the tenant should develop a "pride of ownership" attitude and be responsible for most of the minor maintenance issues that arise with any home. Ownership: Get a good real estate attorney and an accountant. They should be able to explain the advantages/disadvantages of personal versus LLC ownership including liability issues. This will help you determine the extent (and cost) of insurance you will want to have. 2. Now, let's look at how to increase the amount of money you receive every month:
Here's a little known fact - Over 90% of all people who enter into a rent to own agreement fail to exercise their option after one year! Do you remember I said to try to keep all of your contracts to one year? Besides maintaining better control of your investments, this little known fact can be hugely advantageous to you, the business person. Now, PLEASE keep this in mind; if you have a GOOD tenant who is unable to exercise his/her option, WORK WITH THEM. You should renegotiate a second year to your advantage, but not one that would force a good tenant to leave. OK, here's what you should consider (by way of example).
Using the above example, a reasonable contract might stipulate an option consideration of $8,000 (to be fully applied toward the down payment upon exercising the option) and a monthly rent of $1,100 per month of which $100 will be applied toward the down payment providing that monthly rent payment was made on time. After one year, assuming all rent payments were made on time, the tenant/buyer will have accumulated $9,200 in credits ($8,000 plus $100 per month). One can view the actual monthly rent as $1,000 assuming the option is exercised. If the tenant/buyer fails to exercise the option for any reason, That $9,200 is forfeited by terms of the contract. To increase your cash flow, offer the tenant/buyer greater credits in exchange for a higher monthly rent. For example, in exchange for $1,300 per month, offer the tenant a $400 rent credit for every on-time payment received. Now, it can be viewed as a monthly net rent cost of $900, and the total equity built would be $12,800. If you present this properly, you can let the tenant negotiate for higher rent payments! You will have a much better cash flow, and there will still be a nice profit if the option is exercised provided you properly purchase the house. If the option is not exercised (90%+ odds it won't be exercised), you keep all the rent monies paid. But, again, PLEASE keep this in mind; if you have a GOOD tenant who is unable to exercise his/her option, WORK WITH THEM. You should renegotiate a second year to your advantage, but not one that would force a good tenant to leave. Use as little of your own money as possible: With diligence and patience, you will be able to buy a home for less than appraised value. Rather than buying the house at the reduced amount, pay the appraised value and take the difference as an allowance for, say, remodeling.

Take this money in the form of a bank check. Using the above example, assume you are able to negotiate a purchase price of $140,000 (this is possible, in fact, doable if you do your homework). Tell the seller you will pay $150,000, and they must give you a bank check for $10,000. Now you will finance 90% of the purchase price of $150,000 which equals $135,000. You need a down payment of $15,000. Your actual out of pocket cost is $5,000 because of the $10,000 allowance. Summary: We will assume the tenant/buyer takes advantage of getting additional rent credits, makes all rent payments on time and the option is exercised after the first year.

Using the above example (which is based on a composite of actual deals) and not accounting for miscellaneous costs (for simplicity purposes), here is the deal: 1. Cash spent - $17,300 ($5,000 out of pocket down payment plus $1,025/month P. I.T. I.)
2. Cash received - $23,600 ($8,000 option consideration plus $1,300/month rent)
3. mortgage obligation: $135,000
4. Received from sale - $149,200 ($162,000 minus $8,000 option consideration minus $4,800 rent credits) Profit from cash flow = $6,300 ($23,600 minus $17,300)
Profit from sale = $14,200 ($149,200 minus $135,000)
Total profit = $20,500 $20,500 profit divided by $5,000 out of pocket = 410% RETURN IN ONE YEAR!!! If the tenant does not exercise the option, it can only get better.

Burbank california real estate

Burbank, California, is located in Los Angeles County, and is nine miles north of Los Angeles, California. Burbank has a population of 100,316. Among its residents are those who work in the media and entertainment field. NBC, Warner Studios, and Disney Entertainment call Burbank their home. The city is served by Burbank International Airport. Burbank’s homes consist of luxury homes in the hills, and single and multi-family homes throughout the city. Its sunny weather, prosperous economy, relative safety, and consistently high-ranking schools make Burbank a popular place to live, especially with families and those in media and entertainment. Burbank properties pool is 41,608 residential properties including Burbank new homes. The median age of real estate in Burbank is 1956. The average household size is 3.14 people. 7% are one bedroom homes, 39% are 2 bedroom homes, 42% are 3 bedroom homes, 10% are 4 bedroom homes, and 2% are 5+ bedroom homes. Homes With No Mortgage - 26% Homes With Mortgage - 74% First Mortgage Only - 56% First & Second Mortgage or HELOC - 18% Burbank Real estate Tax: Median Real Estate Taxes (2000) were $1,640 comparing to 1999 Median Family income $ 56,767pare to USA median yearly Real Estate Tax $1,300 and USA median Family Income $42,000 (1999). Burbank School District: The Burbank School District consistently rate as one of the most successful in the County. Parents are keen to purchase homes here in order to send their children to the highly successful District. Children make up 22.3% of Burbank population. Burbank has 22,337 under 18 years old residents, or 0.46 kids per one worker, or 0.54 kids per one household. Burbank Real Estate & Burbank Homeownership There are 14146.72 or 34% one person households, 12482.4 or 30% two person households, and 6241.2 or 15% three person households in Burbank, California. Median residents age is 36.4, Senior citizens (65+) make up 12,859 or 12.8%% of Burbank population. There are 48,430 workers (over 16 years of age) in Burbank. Of these, 89.33% drive to work. Approximately 2.56% of workers in Burbank take public transportation, reflecting the area’s over reliance on cars. An estimated 2.75% walk to work. Median Burbank homeowner's housing expenses are 22.4% Crime in Burbank (2003), crimes per 10,000 residents per year Violent Crimes - 28.21 Robberies - 6.88 Aggravated Assaults - 19.54 Property Crimes - 268.55 Burglaries - 49.84 Larceny-Thefts - 172.26 Motor Vehicle Thefts - 46.45 When making a decision about buying real estate in Burbank California area, many factors should be considered, along with the following statistical data: Near Medium City - Near Large City - Los Angeles, California Burbank Zip Codes - 91501, 91502, 91504, 91505, 91506 Burbank Area Codes - 818 White population - 72.18% African-American population - 2.06% Asian - 9.15% American Indian & Alaskan - {-}% Hispanic (of any race) - 24.87% Median Family Income (1999) - $ 56,767% Population Below Poverty Level - 10.45%

Things to look for when buying personal real estate

Things to Look for When Buying Personal Real Estate There are all kinds of things you will want to consider when buying the real estate that your family will call home. The problem is that far too many get caught up in the small or cosmetic details of the purchase and search that they forget the primary needs of the family in the process. Keep the following things in mind when considering real estate purchases and you are much more likely to be happy with your decision a few years down the road. 1) Size. When it comes to real estate size really does matter. The problem is that it matters differently for different people. Those that are aging and whose families have left home would do well in smaller properties that required lower maintenance. Those with growing families need room to grow not only inside the house but also outside the home. If you have 5 children you do not want to be crowding them into 2 bedrooms nor do you need five bedrooms (unless you want them of course) if you are a confirmed bachelor. Size is an important consideration when deciding on a house that will meet the needs of you and/or your family. 2) Neighborhood. This is important for everyone. No one wants to buy a home in an area where they do not feel safe. At the same time most people also do not want to live in a neighborhood that is just entering into or on the verge of a state of decline. Remember that a home for the most part is a 30-year commitment you want to make that commitment in an area that is slated for growth rather than decline. 3) Property Value. The value of your property is what makes real estate an investment. The general idea is that in the 30-year period you are making the payments on your home the value of the home will experience a slow but steady increase. If the area you are considering for your real estate purchase has experienced a couple of years of declining property value you may want to find out the cause before making the investment and placing your family in that area. It could be an indicator of potential decline. 4) School District. This is typically only a consideration for those who either have children or are planning to have children. For those however, it is a very important consideration. Most school districts around the country are determined by the neighborhood in which you live. 5) Cost. This is a very important consideration for most people who are searching for a home. Obviously you want the best possible value for your money but you should take care that you do not find yourself slaving away to merely eek out your house note each and every month. You need to be able to live comfortably within your means along with your house payment in order to have the best possible real estate situation. Of course there are other common considerations that should be taken into account. Among those are the condition of the home, the number of similar families in the area, and the closeness of the area to other conveniences such as stores, work, and entertainment. All of these things add up to a deep satisfaction in the home you have chosen or growing discontent over the years. 568