Who are you going to call when selling an investment home? There are lots of answers to this question. Yet the most obvious one would be the professional people who could accomplish the work for you properly with complete effectiveness and efficiency.
Or take 95% home loans…these rates are higher than 20% down. But sometimes people want to keep their money vs putting it towards a home. Maybe they are self-employed and can get a greater return on this money elsewhere or maybe they can take the 5% down and eliminate all their consumer debt. Each person is different and has different goals and incomes.
One place you may find several good deals are areas of the country where the inventory is high. With the problems of the economy lately there are homes that have been for sale for quite some time. Many were homes built by contractors who were hoping to sell them rapidly but instead still have them on their hands and are paying the mortgages. They are often quite willing to discuss a lower price to get rid of the homes so they are out from under this debt.
Who are the smart ones buying homes right now? While there are a lot of primary residences being purchased, the experts are saying that 40%-60% of the homes being purchased are for investment purposes. This appears to be pretty accurate, as Brewer Caldwell has experienced a high volume of calls from investors looking to buy homes. Not only are seasoned investors getting back into the Real Estate market, there are a lot of people looking to buy their first investment home. While buying an investment home can be a scary thing, the best thing an investor can do is higher a Property Management Company.
Contribute to your IRA (Individual Retirement Account) if you are eligible to do so. You’ll improve your future financial situation when you do! Interested parties could open an IRA account through brokerage firms, credit unions, banks or even through mutual fund companies. As long as you make regular contributions, an IRA can provide a big boost to your retirement resources.
Over the past 6 years of helping owners find lease option tenant/buyers for their casas baratas, I have strongly considered doing a “Sandwich Lease Option” on some of these homes. Let me begin by explaining the basics of a lease option and then the sandwich variety.
Most of the time, the argument to own is a lot stronger than the argument for renting. But in certain situations, renting is the right thing to do. If a potential home buyer is in a job that is changing and they are improving or working their career, and are likely to be asked to move, then renting is a better idea as the moving costs are so much lower than trying to sell a home and the transaction costs involved. Also in a decreasing housing market, renting is the only way to go, for obvious reasons.
The time to buy is now. We may not see prices like these ever again and these prices won’t last forever. However, investing in Real Estate is not easy or cheap. The best thing an investor can do is seek the guidance of a Property Manager before they begin looking for a home and then let that Property Manager protect that investment and take the stress out of trying to manage the home themselves.