ARCHIVED BLOG POSTS
2007
Raise the Rent:You should raise the rent of your properties once a year a small amount, approximately 3% to5%. You are less likely to lose a tenant than to wait 3 or 4 years and make a substantial increase.In fact, you should have a stipulation in your lease agreement that states if a new lease i...
07/17/2007
Working with existing tenants:When you acquire a residential rental property, you should contact your new tenants and reassurethem that you intend to treat them with respect. In other words, try to have a cordial, yetbusinesslike relationship. Deal with tenants' questions honestly and directly. F...
07/16/2007
Down payment:The first question to ask is “how much money should I put down?” I am of the belief that “cashis king” and that it’s better to have your money in the bank than in the property. That said, I alsobelieve that one of the most important aspects of real estate investing is your cost of de...
07/15/2007
You make money in real estate by purchasing the property “right”. In other words, if you buywell-located and physically sound property below market value, the property will provide youwith excellent returns for many years. Excellent knowledge, combined with excellentnegotiating, leads to excelle...
07/14/2007
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Location:Remember, the old adage "location, location, location" its true for several reasons. My first pieceof advice is to look at properties within 50 miles of your house and always, always, personallyinspect the property before you make an offer.Understand that there is a huge advantage in bei...
07/13/2007
Determine Your Investing Strategy:Before you start investing, you need to come up with your goals, gameplan, and strategy. Thegoal is most likely to create wealth. The gameplan is either to buy and sell, or buy and hold. Thestrategy is the part that's open for discussion.Buy and SellYou have two ...
07/12/2007
It is impossible to buy real estate by yourself. You need several qualified professionals. I suggestestablishing these relationships ahead of time, to help facilitate the transaction:1) Tax Advisor – A good Tax Advisor is worth their weight in gold. My experience is that agood Tax Advisor can pro...
07/10/2007
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Buy your primary residence first:This is more than "walk before you run" advice. A primary residence gives you all the benefitsof an investor property, but it can be purchased easier and with better loan terms. You still getthe great tax advantage of deducting the mortgage interest, but when you ...
07/09/2007
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I have been a mortgage banker for 14 years and have financed thousands of properties. During that time I have seen many real estate investors become wealthy, while others struggled. I intend to give a generaloverview of real estate investing and share some of my experiences and bits of knowledge ...
07/08/2007
We are now offering 95% FHA Cash-out loans for borrowers with less than perfect credit. These loans have been updated with new higher loan limits up to $544,000 depending on the county; however, most metropolitan counties have a limit between $200,000 and $300,000.It is no secret that over the la...
07/07/2007
Rainmaker
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118,963
Stephen Katz
Branch Manager, CMPS