Renttropolis Online Property Management

When buying a real estate investment:

1. Check if the seller is motivated to sell the property

In real estate investing, dealing with someone who does not really want to sell their property is a waste of time – you should forget about them and move on, no matter how promising the deal might look like. How to check the seller’s motivation level? It’s relatively simple: try to make an appointment. If he or she puts it off (especially if it happens a few times in a row), there is a 90% chance that the seller is not motivated to sell.

2. Inspect a property before making your first offer

Never, ever make an offer before a close inspection of a property. This will put you on the back foot throughout whole negotiation process! Also, don’t let the seller force you into making your offer RIGHT AFTER the inspection. You will need at least a few hours to prepare your final offer. It’s best to inspect the property and then make an appointment for the following day. Do not make any offers before that time!

3. Prepare more than a single offer

Do not enter negotiations with only a single offer. Even if you don’t have any aces in your sleeve, make sure that you can make at least three offers – and that your final one is still profitable enough to enter the deal!

4. Talk to the seller while leaving

If you and the seller can’t reach an agreement, try this simple trick: make your final offer standing at the door. First off, this way you give a clear sign that the seller can’t hope for a better deal. Then, this puts the seller on notice that you are about to walk away from the deal – he or she may not like your offer, but there is no guarantee that the next real estate investor will give the seller better terms. This can often make the seller more receptive and accept your proposition.

Selling your investment property:

1. Be sure that you really want to sell the property

Before you tell anyone that your property is on sale, think if it is really the case. If you deeply hate the idea of selling the property, it is generally a good idea to try to keep it. Every real estate deal has pluses and minuses. If you sell, you get instant cash profits, but sacrifice long term capital growth. If you decide to hold, the opposite applies.

2. Be reasonable

When it comes to negotiations, don’t be ridiculous – you can demand high prices, but make sure that they are reasonable (certainly not twice the average). You will only be left with an overpriced property that will be difficult to sell. Moreover, making such high offers may cause some real estate investors to back out from the negotiations. You usually can hope for more than the buyer’s first offer though, so it is always worth to haggle a little.

3. Read through all the clauses and contingencies before signing anything

There’s an old saying: “The devil’s in the details”. Nowhere is it truer than in real estate deals. Before you sign anything, read the contract (especially the small print). Such things as being held responsible for making all necessary repairs requested by the buyer or agreeing for waiting six or seven months for the money may spoil even the best-looking deal.

4. “There’s always another buyer around the corner”

If the purchaser does not seem to be able to meet your price expectations or offers you terms you cannot really accept, don’t waste your time. There is always another purchaser around the corner – and even if there won’t be anyone else, you can always call the buyer later, can’t you?

About the Author
Discover exactly how Sal combined two of the easiest (yet brutally powerful) Real estate investing strategies and made an insane $31,510 Profit In Just 49 Days…And How You Can Do The Same!”. Visit http://www.FixerUpperFortunes.com

Roof Repair Tips: Taking Control of Your Roofing Job by Alby Fernsworth

You may think you can repair your roof by yourself and save tons of money in the process. Think again. This may not be a wise decision. Instead you should hire a professional roofer to do the job. You must be careful when selecting a roofer as there are stories of contractors that scam people out of their money. They either never finish the job or take the money upfront and disappear. Or they finish the job, but had shoddy craftsmanship. Therefore, it is vital to find a roofer that is reputable and allows you to have control over the roofing job.

The first thing is to verify that the person you will hire is a certified professional. They will be taking a large chunk out of your bank account so you need to do a thorough background check. Ask for references and contact those references. A professional will easily give you a list of references and will most likely volunteer this information upfront. If certification is a requirement in your state then ask to see their certification card.

Strive to track down a roofing service that has a good history in your area. Look for their advertisement in the yellow pages. What is their tax ID number? Ask for a list of vendors and credit references. If they are unwillingly to supply any of this information then think twice before hiring them.

Take note of the equipment they use on roofing jobs. What is the status of equipment? Is it old? Do they have a great amount of equipment in their truck? Check to see if their truck has their company name or logo on it. If it does note the professional appearance of it. Do they employ the use of air nailers and other modern tools? If their equipment looks like it’s deteriorating, beware. They may not necessarily be out to scam you, but the odds are leaning in that favor.

A major factor to consider when hiring a roofing contractor is to determine the level of skill their crew demonstrates. Does the contract employ full time skilled roof mechanics or are they using temporary employees and day laborers? The competence level of the crew is much lower if it consists of day laborers. You want a roofing company that has qualified roofing mechanics. Demand that the team consists of only qualified roofers. If they give you any hassle about this do not hire them.

Has the roofer told you what type of materials they are going to use when working on your roof? Be sure that they don’t dump cheap materials on you. This can happen easily because there are several different grades of shingles and plywood. If you end up with cheap materials you will no doubt have to make repairs in the next year or two. Therefore, you need to specificy the brands and types of materials you want them to use.

It is tempting to hire the lowest bid, but the lowest bid hardly ever means the best deal. Often times roofers that do not have experience or people that are going to take your money and run give low bid estimates. Remember you can’t get something for nothing. Look for competitive bids that are within 10% of each other.

Finally, get everything in writing and do not sign a thing until you understand every aspect of the contract. Reputable contractors will offer service after the sale in order to safeguard their reputation and maintain high customer satisfaction and loyalty. Whatever you do, never engage in a high dollar business transaction without a contract! By taking these and the other precautions mentioned above, you can take control of your roofing job and make sure that you are getting the best service for your money.

About the author: Alby Fernsworth is the proprietor of Ferns Roofing, a fantastic website to visit if you’re looking for accurate up to date advice and discussion about Roofing. For further information on Roofing please visit: http://www.fernsroofing.com/articles

If your thinking is sloppy, your business will be sloppy. If you are disorganized, your business will be disorganized. If you are greedy, your employees will be greedy, giving you less and less of themselves and always asking for more.” -Michael Gerber

Investing in real estate is a great way to increase your wealth through capital apprecation. However, if you are interested in buying and renting residential properties there are several things to consider. Being a landlord can be extremely stressful and expensive if you have managed to invest in property which has not been well maintained. In this article, we will discussion the benefits and risks of renting out residential real estate.

One of the biggest benefits to renting property is that it is very lucrative. Not only are you making an income each month you also possess a real physical asset which is quite different then owning stock you will never be able to see or touch.

Many people just are not comfortable owning something they can no see. In the recent decades, many people have decided not to invest in the stock market and place all their money into real estate. Who could resist! With rapidly increasing prices, high demand, and almost no risk – the benefits are obvious.

Rental real estate gives you a monthly income. Property also increases in value and your capital appreciates each year. Real estate is one of the few investments that do extremely well in time of increase inflation.

Remember, rental real estate can also be purchased with borrowed money and this is called leverage. For almost no money down an investor can own and rent a large residential property like condos or apartments. If your rental properties cost you more then you received in income from them, the profit is tax free. Once there is equity in your residential property, you can apply for a home equity loan and use that money to invest with.

There are also several risks associated with rental properties. First and foremost you are liability for any injuries which take place on the property. If a visitor breaks a finger in a door, you have to pay for it. Not only that but you are subject to lawsuits which will be suing for not just the injury but emotional distress. This is why it is extremely important that all of your properties meet government building and living standards.

There are always unexpected expenses. Apartments flood, walls get cracks, and foundations leak. They are all your responsibility. On top of that you have to deal with tenants. Ninety percent of your tenants will be great people who mind their own business but the other 10% will make you want to rip your hair out.

Visit the Global Investment Institute and signup for our free Online Investing For Beginners E-Course at http://www.Global-Investment-Institute.com