Choosing a Property Manager for a Muskoka Real Estate Vacation Rental Home

Choosing a Property Manager for a Muskoka Real Estate Vacation Rental Home

So you are the proud owner of a Muskoka real estate vacation home – congratulations. But just as with your own home, a Muskoka vacation home needs a lot of tender loving care. Who is going to look after it when you are away? And, perhaps, how is it going to pay its own way? Thoughts like these tend to push vacation home owners into thinking about appointing a property management company. So what should you be looking for in a property manager, and how do you go about finding one with the qualities you want? First and foremost, you have to decide if you just want the property taken care of, or if you also want it rented out. This will determine what kind of property management firm you want, and whether you need to check their credentials for marketing your firm, or just for looking after it. Assuming that you would like your home to generate some income for you, you need to look for several key capabilities • A firm which will ensure the highest standards of care and attention to the fabric and contents of your property. Lots of rental income will not make up for the damage caused by careless renters. Make sure that your chosen firm will keep on top of every • Personal check-in and check-out of every rental. Many firms take advantage of the availability of keyless coded locks to allow renters to check themselves in and out. This means that they never know who is in your property, and whether your four-bedroom home which is supposed to have a maximum...
Real Estate Flipping Basics

Real Estate Flipping Basics

You see a lot of articles and books about how to make money “real estate flipping.” Perhaps you’re heard radio or television news reports about the illegalities of flipping real estate. Maybe you’ve seen the late-night infomercials promising you easy overnight fortunes. What’s the truth about making money flipping real estate? First, real estate flipping isn’t illegal. Because some dishonest real estate investors conspired with deceitful mortgage brokers and property appraisers, their stories made “good news” for newscasters who love to grab attention with “Investors Scam Banks and Bilk Buyers out of Millions!” sound bites. True, some investors defraud mortgage lenders and/or desperate home buyers. Cheating investors hyped up property values, helped home buyers tell untruths on mortgage applications, and conned banks and buyers. On the other hand, ethical real estate investors make a lot of money real estate flipping. There are many ways to make money flipping real estate: 1. You can help home sellers in foreclosure save their credit by arranging a sale of the property and never even take title. In other words, buy the property and double-escrow the property to a home buyer who wants to live in the home. 2. Find a seller under stress with a bargain property, secure a sales contract, and sell your contract for roughly $500 to $5,000 to a seasoned real estate investor without financing or taking title. 3. Buy a fixer for a bargain price, fix up the property, and sell for full market price. You can make money flipping real estate without being dishonest or unethical. But first, you need to: 1. Get your credit in order...
Huntsville Real Estate – Five Easy Steps to Owning Your Own Home

Huntsville Real Estate – Five Easy Steps to Owning Your Own Home

Buying your own home is one of the largest purchases you will ever make. What should you do to get ready? The key to a successful home purchase is making your choice through your finances, not your emotions. This takes research and patience. Here are five steps that can help you make a good decision. 1. Decide how much you can afford. You should look at your finances in order to determine how much you can afford to spend on a home. Look at your income, assets and current debt level. You aren’t looking at what percentage the lender says you can afford, you are looking at what your finances dictate. If your lender says you can spend $1,200 a month, but you know you are struggling with a rental of $1,000 a month, you probably know that you don’t need any more than you already have. You should also consider the down payment and closing costs. Lenders are usually looking for a 5% to 20% down payment. Don’t overlook other expenses, such as property taxes and homeowners insurance. Your total interest, principal, taxes and insurance payment should not exceed 28 percent of your gross monthly income according to lenders. Your total monthly debt, including your mortgage, autos, student loans and credit cards should be under 36% of your gross income. You don’t have to have a house in mind before you apply for a mortgage. It is a good idea to be pre-approved when you are looking for a home It will give you the security of knowing that you have funding and the buyer will know you...
Huntsville Real Estate – Finding Hidden Treasures

Huntsville Real Estate – Finding Hidden Treasures

Finding a diamond in the rough could help you get some fast equity. Look beyond the curb appeal to find a real hidden treasure. As a real estate buyer, you have a tremendous opportunity for finding great deals if you look past curb appeal. There is a lot of talk by real estate professionals and real estate articles about curb appeal. It is widely known that improving the curb appeal on a house can get you an extra $10K-$20K+ when you sell your home. This also means that there is an opportunity for home buyers to save $10K-$20K+ when you buy a house with less curb appeal. When looking for a house with less curb appeal this does not mean to look for a run down house. It means to find a house that with a very small amount of work or money can be greatly improved. By looking for a house with less curb appeal and improving it, you can afford a house more expensive then you would be able to afford otherwise, and you can gain instant equity in your new home. Look for homes that need paint. Paint is very cheap and can make a huge difference on the inside and outside of homes. An unpainted house will typically not be as desirable to buyers as a well painted home, so there is an opportunity to get a good deal. Find a home with a messy yard. The yard can have a huge impact on the curb appeal of a house. Houses with large untrimmed bushes, dead trees, unmanicured yards, or junk in the yard will...
Feng Shui in Real Estate Sales

Feng Shui in Real Estate Sales

Literally translated “Feng” means wind and “Shui” mean water. Deeply rooted in connection to nature, Feng Shui is the 4000 year old Chinese are of placement and philosophy that supports living in awareness and harmony with our surroundings. As the awareness of Feng Shui increases, more real estate agents are being asked to show buyers homes with “good” Feng Shui. If a real estate agent has knowledge of this ancient and highly respected design philosophy will assists him/her to: Increase the value, marketability, and emotional appeal of a home. Build confidence with Feng Shui savvy buyers and sellers. Provide solutions to remedy a home’s Feng Shui energy challenges. Build referrals by selling “Feng Shui friendly” homes that support the well being of your clients and their sphere of influence. This section will explain the 5 Feng Shui tips for your references. Tip 1 : Main Entrance The main door is like the mouth for the house. It is the gateway between the world and the privacy of the home and air currents literally enter and exit at this point. The positioning of a main door can determine the fortune or misfortune of the occupants. Therefore you must keep the entrance clear of any clutter to allow the energies to flow freely. Make sure there is nothing in direct alignment with the door such as a tree or telegraph pole. To remedy this place a Bagua mirror over the door so it is reflecting the Sha Qi. Avoid facing a dark, pokey room, an interior staircase, mirror, stove, sink, fireplace, the door of a toilet, laundry, bathroom or bedroom. To...