Open Houses – Why you should be taking them seriously!

Importance of Open Houses

The importance of Open Houses

11/05/2018

If you are considering selling your home then Open Houses are always a good idea, especially if you have a good Realtor that gets your property a lot of exposure. Exposure should include social media invitations or posts on different platforms like Facebook, Instagram, LinkedIn, Twitter and YouTube to name a few. If the agent creates a video or does a live video it will probably get even more exposure because people tend to watch videos more than they do read a post. Exposure should also include a lot of signage around the neighborhood that includes the Open House time and address on it.

Before placing your home on the market, always make sure that the price is competitive and a CMA was used; make sure to have a Survey that is acceptable and a Sellers disclosure.

 

The Open House should include an MLS sheet with information on your property that will include price, number of bedrooms/baths, square footage, tax, HOA fees, inclusions, financing terms etc. It’s also a good idea to know the age of the roof, the AC, water heater and sprinkler system (as these questions usually come up during open houses).

It’s also a great idea to invite all of your neighbors and personal friends, word of mouth is still a very strong way of marketing and who knows, maybe your neighbors or friends know somebody interested.

Always try to obtain the potential clients email and personal information; you can always keep them updated. Perhaps if the price was lowered slightly, maybe one of the Open House visitors would actually make an offer this time around.

Open Houses are important because of the exposure that they get. It’s much stronger than just having it on the MLS or having a sign outside of the house.

If you live nearby a Church, School or other places that gathers a lot of people, I’d recommend taking flyers and inviting people to come.

Always have a couple different mortgage companies’ information you trust just in case one of your visitors needs to find out about how to get a mortgage.

 

Selling your home doesn’t have to be a nightmare!

 

To read more about topics of interest, click on the links below:

Should I sell my home without a REALTOR® ?

https://realtormanuelhuitron.com/2018/07/18/realtor

First time home buyer – Selecting a REALTOR®

https://realtormanuelhuitron.com/2018/05/28/first-time-home-buyer-selecting-realtor

Real Estate Investing – The dream or nightmare?

https://realtormanuelhuitron.com/wp-admin/post.php?post=33&action=edit

Why rent when you could buy?

https://realtormanuelhuitron.com/2018/08/29/rent

Moving to San Antonio?

https://realtormanuelhuitron.com/2018/10/03/moving-san-antonio

¿Busca invertir en Bienes Raíces en San Antonio, Texas?

https://realtormanuelhuitron.com/2018/10/21/buscas-invertir-en-bienes-raices

 

 

 


Posted on November 5, 2018 at 1:55 pm
Manuel Huitron | Posted in Uncategorized |

¿Busca invertir en Bienes Raíces en San Antonio, Texas?

¿Busca invertir en Bienes Raíces en San Antonio, Texas?

¿Qué estrategia quiere seguir?

La industria de los bienes raíces es una industria que puede ser muy lucrativa si se invierte con precaución e inteligencia. En este blog les platicare acerca de diferentes estrategias de inversión que yo pienso son las mejores y las más seguras. Aconsejo, no soy abogado, CPA ni Analista Financiero, soy REALTOR® y esta es mi opinión únicamente.

Trabajo junto al equipo de JB Goodwin REALTORS® en San Antonio, Texas y eh ayudado a inversionistas a buscar propiedades con fines de lucro por medio de inversión. Las propiedades han incluido condominios, casas individuales, terrenos y viviendas multifamiliares. Tengo la experiencia de haber ayudado a inversionistas con fix and flips, hold/rental, owner financing, rent to own, live and flip etc y es por esto que quiero platicarles diferentes puntos de vista para que no se vean sorprendidos a la hora de tratar de realizar alguna de estas estrategias.

Existen muchos programas de televisión que lo hacen ver muy fácil, pero la realidad es que invertir en bienes raíces no es fácil y existen cientos de variables que pudiesen llegar a afectar su inversión. Una de mis sugerencias primarias es asociarse con un equipo DE CONFIANZA que conste de las siguientes personas, especialmente si usted es extranjero queriendo invertir en el estado de Texas en los Estados Unidos.

  1. Contador o CPA con experiencia en Real Estate para extranjeros.
  2. Banco que trabaje con extranjeros, será importante tener cuenta de banco en los Estados Unidos.
  3. REALTOR® de confianza que tenga experiencia trabajando con extranjeros e inversionistas, de preferencia que hable el mismo idioma que usted, si usted no domina el Inglés.
  4. ¡Contratista de confianza, lo más barato te puede resultar mucho más caro CREEME!
  5. Title company con excelentes reviews.
  6. Survey company con excelentes reviews.
  7. Property management company con excelentes reviews.
  8. Inspectores con excelentes reviews.
  9. Agente de Seguros Inmobiliarios.
  10. Home Warranty Company.

*Por mencionar algunos de los más importantes.

Como mencione anteriormente, existen muchas estrategias diferentes y los resultados de las mismas estrategias pueden variar dramáticamente. En mi experiencia prefiero buscar una casa en una zona de alta demanda que tal vez no necesite mucho trabajo, luego hago un análisis “Competitive Market Analyisis” (CMA) para poder identificar a qué precio se están vendiendo las casas en ese vecindario, cuantos días en el mercado se encuentran en promedio, cuánto cuesta rentar casas similares en la misma vecindad y también cuantos días en el mercado duran sin ser rentadas. Es importante considerar lo siguiente a la hora de realizar un estudio (recomiendo que un REALTOR® se lo haga, muchos lo harán sin costo): Es importante determinar la vecindad y las /rentas que se hayan realizado en los últimos 6 meses o un ano (dependiendo de cuantas aparezcan), es importante que las casas sean similares y tome en cuenta lo siguiente:

La misma vecindad.

Cuantas recamaras y baños tiene la casa.

Hace cuanto se vendió/rento.

Cuantos días en el mercado se tardó en vender o rentar.

Cuantos pies cuadrados tiene la propiedad y cuantas acres tiene el terreno. Aconsejo que sea similar, tal vez un rango de 15% menor o 15% mayor que la casa con la que está comparando.

¿Las casas con las que se están comparando han sido rehabilitadas anteriormente o no?

¿Cuantos pisos tienen? (Recomiendo que sean iguales con fines de comparación. En mi experiencia la gente prefiere las casas de un piso.)

Es importante determinar cuántos días en el mercado y a qué precio se vendieron las casas para que uno tenga una buena idea de cómo el precio puede afectar los días que tardara en rentarse.

Después de que se haya hecho el análisis por medio de un REALTOR®, recomiendo platicar con un prestamista de su gusto para explorar diferentes tipos de financiamiento en caso de que usted no quiera pagar efectivo por la casa. Por cierto no recomiendo pagar efectivo a menos de que el financiamiento sea muy malo o que no se pueda obtener, explicare esto más a detalle a continuación.

Antes de realizar cualquier compra de una casa también recomiendo checar los papeles del “Home Owners Associaciation” para asegurarse de que se permita la renta de la propiedad por un tiempo mínimo, esto es especialmente importante si se va a rentar un condominio. En muchos casos NO SE PERMITE QUE USTED  PONGA EN RENTA SU PROPIEDAD.

También es importante que su REALTOR® averigüe si la casa tiene algún tipo de subsidio de parte del gobierno, por ejemplo si existe un “Homestead Exemption” o “Disability” etc. Estos subsidios se irán de la propiedad con los dueños y puede afectar la cantidad de impuestos (property taxes) que usted tendrá que pagar y puede afectar su cashflow (flujo de efectivo).

Luego es fundamental comprar una casa a excelente precio (reitero excelente precio), uno rara vez tendrá una buena inversión a menos de que se haya comprado la casa a un excelente precio y recomiendo nunca comprar una casa a menos de que se le haga una inspección, se cheque el Title (quien es el dueño de la propiedad en realidad), se pida y se REVISE el survey y se le pida el “seller’s disclosure” al dueño. Recomiendo SIEMPRE trabajar de la mano de un REALTOR® para que minimice sus riesgos y le acompañe a tomar las mejores decisiones.

Podría hablarles de “Wrap arounds”, “Take overs”, “Wholesales” etc pero prefiero platicarles acerca de “Hold/Rent” que a mi gusto se me hace una de las mejores estrategias y estas son las razones:

  1. Si la casa se está financiado (lo recomiendo) la persona que está rentando la casa está pagando SU DEUDA.
  2. Los activos fijos como las casas se deprecian y esto puede minimizar los impuestos que se deberán pagar.
  3. Las casas en San Antonio están subiendo en valor aproximadamente 3.9% año con año de acuerdo con “The San Antonio Board of Realtors” (SABOR), 2017 y 2018 (Octubre).
  4. Se genera “equity” esto quiere decir que se debe menos por la casa y aumentado su valor. Cuando sea hora de venderla (aconsejo esperar al menos 5 años) la casa valdrá más (usted gana) y los que han rentado la casa han disminuido su deuda (usted gana).
  5. Los intereses del mortgage se pueden utilizar como costos y puede reducir los impuestos sobre el ingreso que tendrá que pagar.
  6. Se estará generando cashflow positivo y si hecho correctamente puede traerle un flujo de efectivo cada mes. Considere que tendrá que pagar por mantenimiento, property management, impuestos, seguro, mortgage (PITI) que deberán estar incluidos en el precio de la renta.

Si desea invertir en Bienes Raíces en San Antonio, márqueme al (210) 274-2778

Manuel Huitron, REALTOR® at JB Goodwin REALTORS®

 

Bienes Raices

 


Posted on October 21, 2018 at 2:03 pm
Manuel Huitron | Posted in Uncategorized |

Moving to San Antonio?

Moving to San Antonio?

Why are so many people moving to San Antonio?

You’ve probably heard the hype about the cost of living in Texas, especially in San Antonio right?

Well, it’s true!  Not only is San Antonio more affordable than other Texas cities such as Dallas, Austin or Houston, it also has a unique charm to it and people from all over the country and the world are moving to San Antonio. Here are some of the most common reasons why people are moving to San Antonio:

  • Cost of living.
  • Great aray of Real Estate prices.
  • Unemployment rate.
  • Investing opportunities, especially in Real Estate.
  • Geographical location.
  • Quality of life.

San Antonio is a great place to live and if you are either thinking about moving here or have already taken the leap of faith, here are a couple of things to consider:

  • San Antonio, New Braunfels and San Marcos have some of the highest growth rates in the country.
  • The food in San Antonio is very diverse, there is everything from Mexican, Texan, BBQ, Oriental, Middle Eastern and European. Here you will learn that Mexican and Tex-Mex food is not the same!
  • It’s HOT, even in October the temperatures can reach 90 degrees or more.
  • It snows every couple of years believe it or not!
  • San Antonio is located near other major cities and other great places to visit such as: Austin, Fredricksburg, Greune, New Braunfels, Dallas, Houston, Corpus Christi etc.
  • San Antonian’s take their basketball very serious and past players such as David Robinson, Tim Duncan, Tony Parker, Manu Ginobili, Bruce Bowen, George Gervin and Sean Elliott should be considered as San Antonio treasures and heroes. Gregg Popovich (coach) is well known as “Pop’s” and is highly loved in San Antonio (watch his interviews and his interactions with the press).
  • There is alot of Mexican influence in San Antonio and history unfolds itself throughout the city but especially downtown at the Alamo, The Riverwalk (la Villita) and The Spanish Missions (Canary Island Missionaries).
  • As some of you may know, Texas has been part of Spain, France, Mexico, USA, Confederate States of America and the Republic of Texas. Curious thought of the day, this is why Six Flags was named Six Flags, it all started in Arlington!
  • There are many activities to do in San Antonio, especially for families and some of the best attractions are: Six Flags Fiesta Texas, Sea World, The RiverWalk, The Alamo, Enchanted Rock, Hamilton’s Pool, Jacob’s Well, Fredricksburg Wine Country, tubing at the Guadalupe or Comal River, Going to nearby beaches such as Corpus Christi, watch a Spurs game, watch a FC San Antonio soccer game, watch a Missions game, go to a Rampage game, visit the Pearl brewery or visit the amazing Tower of the Americas (if you are not afraid of heights).
  • San Antonio is also home to many military and air force bases, hence why it’s sometimes called Military City USA. Some of the bases located in San Antonio and it’s surrounding areas are: Lackland AirForce Base, Kelly AirForce Base, Randolph AirForce Base, Fort Sam Houston, Camp Bullis to name a few.
  • Real Estate in San Antonio is also at it’s prime, year after year we have seen an increase in the price of homes of at least 3.9% according to the San Antonio Board of Real Estate.

There is so much more to talk about, but if you or somebody you know are relocating to the Alamo City please feel free to call me for all of your Real Estate needs.

 

Manuel Huitron

Licensed REALTOR®

 (210) 274-2778
 
Here are some other topics I cover in this blog:
First time home buyer – Selecting a REALTOR®
Why rent when you could buy?
Should I sell my home without a REALTOR® ?
Real Estate Investing – The dream or nightmare?
Please visit my youtube channel and watch my videos

Posted on October 3, 2018 at 1:49 pm
Manuel Huitron | Posted in Uncategorized | Tagged , ,

Why rent when you could buy?

Why rent when you could buy!

Most people understand that buying a home may be a better investment than renting, however many people keep throwing their money away instead of building equity in a home. The home process is not that complicated and a REALTOR® or a Mortgage Lender are some of the best resources to help you begin your journey.

Why rent when you could buy?

Many people are under the impression that they’re not “qualified” to purchase a home yet and some of the most common concerns are:

  • We don’t have enough money for the down payment.
  • We don’t know where to start.
  • Our credit score is too low.
  • Buying a home is really expensive and we don’t have that kind of money.

First of all you won’t have any savings if you are spending your money on expensive rent, guess what is factored into the price of rent?

Landlords set the price on rent depending on many different factors, some of the most common ones are:

  • They still owe money on the property, perhaps they still have a mortgage on it (including interest), guess who’s paying that mortgage now?
  • Property taxes need to be paid, guess who’s paying for it now?
  • The property may have Home Owners Insurance, guess who is paying for it?
  • The property needs maintenance, guess who’s paying for it?
  • Some properties may have Home Owners Associations, guess what? YOU ARE PAYING FOR IT!

I could go on and on but I think the point has been made. In addition to these sunken costs the landlord will also want a profit, believe it or not some people need to make some income off of their property and there is absolutely nothing wrong with that in my opinion, but wouldn’t you much rather own the property instead of just throwing your money away?

There are many comparative tables which show how much money one will just throw away after 5 years of renting compared to 5 years of owning ad the difference grows with every passing year. In San Antonio, according to the San Antonio Board of Real Estate (SABOR) the average cost of renting is $1,530, this amount may be much higher than a mortgage (depending on interest, years etc) and the price of renting increases year over year.  In July 2018 the price of homes saw an increase in 5% year over year. This 5% increase in the value of homes is wonderful if you are a homeowner but not so great if you are stuck paying someone else’s mortgage.

For more information call or text Manuel Huitron REALTOR® JB Goodwin REALTORS®  (210) 274-2778

Here is a post on First Time Home Buyers

Here is a post on Real Estate Investing

 

 

 

https://realtormanuelhuitron.com/

https://www.linkedin.com/in/manuelhuitron/

https://www.facebook.com/REALTORManuelH/

https://www.facebook.com/Military-on-the-Move-Realtor-Manuel-Huitron-158453824780785/

https://www.jbgoodwin.com/

 

 

 


Posted on August 29, 2018 at 4:40 pm
Manuel Huitron | Posted in Uncategorized |

Should I sell my home without a REALTOR® ?

Should I sell my home without a REALTOR® ?

By Manuel Huitron

REALTOR®  JB Goodwin

 

Selling your home can be a nerve wracking experience, especially for someone who has never done it before!

Should you sell your home without a REALTOR®?

I encourage anyone selling their home to have a specific game plan, especially if one is working without a REALTOR®.

I’d recommend thinking about the following items:

  • How will the home price be determined?
  • How long is it taking similar homes to sell in this market?
  • What is the average price per square foot in that subdivision?
  • Have you considered the downfall of having your home sit on the market for too long?
  • How much money will you be having to pay for things like property taxes, utilities, storage facilities etc while the house doesn’t sell?
  • Have you thought of the opportunity cost you will incur from this timely activity?
  • Will you have the advertising budget and expertise to market the property?
  • Will you have time to show the home to interested parties around the other person’s schedule?
  • Who will you be letting in your home, do you even know this person?
  • Are you willing to accept liabilities for any errors and omitions you may encounter?
  • Are you familiar with the different documents and contracts needed to perform a successful Real Estate transaction?
  • Will you have a database of over 10,000 REALTORS® possibly ready to show your property to their clients (time is money)?
  • Are you familiar with surveys?
  • Are you familiar with AFIDAVIT T-47’s.
  • Are you familiar with what home warranty companies, inspectors, appraisers and Title Companies do?
  • What may happen if there is a sudden change in the market and suddenly the price of homes drop or interest rates increase dramatically?
  • Will you have time to search for another home while securing the sale of your older one?
  • Where will you live in the meantime?
  • Are you familiar with Surveys?
  • What are considered inclusions, real property or real estate?
  • Do you know what your home is zoned for (you could be surprised)?

The list can go on and on and I could bring up dozens of other reasons to use a REALTOR® instead of working without one, however if you still decide not to use one consider the following:

  • Asking a Licensed REALTOR® to provide you with a free CMA (competitive market analysis), many REALTORS® will do so for free, including me.
  • Advertise the property on Facebook Groups, with your Sphere of Influence, Instagram, LinkedIn, Open Houses, Craigslist, flyers at schools, flyers at community centers or offer to give a REALTOR® a commission to bring you buyers.
  • I wouldn’t recommend showing the home to people who are not  at least “Pre-qualified” for a loan, this will help you find out if they can afford the home, this will also let you know how serious they really are and finally and probably most important you will know who this person is. You don’t want to let just anyone in.
  • If you have a 9 – 5 job, try to arrange to always show the house on the weekends while hosting Open Houses and accompanied by a friend or family members, this will help keep you safer, help you control your time better and set expectations to your potential buyers. If they don’t want to work with your schedule, they “may” not be that interested.
  • Always know your bottom line, including your Net Sellers sheet that includes your closing costs.
  • Speak to a loan officer about what to expect from different kinds of loans, will you be financing, will you accept VA loans, FHA, USDA, conventional etc?
  • Do you need an attorney to write up a contract?
  • Ask a REALTOR® or a Title Company if they can help you have a list of contracts necessary that will cover you from potential lawsuits for example: “Lead based paint disclosure”, “sellers disclosure”, “HOA addendum”, “Survey” etc.
  • Consider working with a Buyer REALTOR® to help you find your next home, he/she may have a good game plan.

I wish you the best of luck and if you have any questions feel free to contact me at (210) – 274-2778

Note: This information is my opinion and is in no order formal advise or representation, if you wish to learn more I encourage you to do your own due diligence or hire a REALTOR®

 

Other articles:

https://realtormanuelhuitron.com/2018/05/25/real-estate-investing-dream-fear-reality

https://realtormanuelhuitron.com/2018/05/28/first-time-home-buyer-selecting-realtor

https://realtormanuelhuitron.com/2018/08/29/rent

 

RealtorManuelHuitron.com

 

Follow me on Social Media:

https://www.facebook.com/Military-on-the-Move-Realtor-Manuel-Huitron-158453824780785/

https://www.facebook.com/REALTORManuelH/

 

Should I sell my house without a REALTOR®

Should I sell my house without a REALTOR®


Posted on July 18, 2018 at 2:18 pm
Manuel Huitron | Posted in Uncategorized |

First time home buyer – Selecting a REALTOR®

Are you a first time home buyer and are somewhat intimated about the home buying process?  It’s really not that bad and can actually be quite enjoyable and very exciting, especially if you are working with a good REALTOR®. Being a First time home buyer may actually present many opportunities that are not available to other people such as FHA Loans, Down payment Assistance for First Time Home Buyers, USDA Loans, Homestead exceptions (principal residence).

You may be asking yourself the following questions?

How can a REALTOR® help me?

How much does a REALTOR® going to cost me?

How do I pay him or her?

What make a REALTOR® a good REALTOR® or a bad REALTOR® ?

We can first start by addressing the fact that a Realtor’s® responsibility is a fiduciary one with his client and a licensed REALTOR® must adhere to a very strict code of ethics imparted by his/her local board of Real Estate. The difference between a Real Estate agent and a REALTOR® is the affiliation with the code of ethics and the board of Real Estate. A REALTOR® should be able to not only help you find the property of your dreams but can also review the contracts carefully to make sure you are getting the best deal possible and that someone is there to help you with the many details that the process entitle, from selecting a mortgage company, a specif loan, looking for a licensed inspector, licensed appraiser, home warranty company, insurance company etc. A quality REALTOR® will be able to guide you through the process and look out for your well being at all times.

As a First Time Home Buyer, my recommendation is to interview different REALTORS® and do not just go with the family REALTOR® because he/she is someone’s friend. Look for a qualified REALTOR® that will respond to your needs promptly, one that can explain closing costs and review a survey carefully. Good communication skills are a pillar of the industry and can either make the process a walk in the park or a walk through the dessert, choose carefully.

Being a First Time Home Buyer may be confusing or stressful and I recommend seeking a good mortgage lender to help answer some of these questions: “Do you qualify for a VA loan, a USDA Loan, an FHA Loan etc, talk to your lender, ask questions and don’t just go with a company because of the lower interest rates or funny commercials, there are many things to consider such as reputation, customer service, availability, terms and conditions etc.

A buyer’s REALTOR® (the one that helps you find and purchase  a home) does not get paid from you, there is no “out of pocket” cost with his or her services. REALTORS® generally receive  a 3% commission from the SELLER which will be split between his/her broker and the REALTOR®, some companies offer their agents 70%/30% , 80%/20% etc.

A good REALTOR® will answer the phone, texts, emails on a timely manner, will be respectful, knowledgeable and ethical. A good REALTOR® will help you write the best stipulations and conditions for your contract and make the home buying process a magical one!

There are also many no cost First Time Home Buyer classes held by mortgage companies that are free, attend some of them and ask questions.

For more information on being a First Time Home Buyer, call or text Manuel Huitron REALTOR® JB Goodwin REALTORS®  (210) 274-2778

Other articles:

https://realtormanuelhuitron.com/2018/08/29/rent

https://realtormanuelhuitron.com/2018/07/18/sell-home-without-realtor

https://realtormanuelhuitron.com/2018/05/25/real-estate-investing-dream-fear-reality

 

 

https://realtormanuelhuitron.com/

https://www.linkedin.com/in/manuelhuitron/

https://www.facebook.com/REALTORManuelH/

https://www.facebook.com/Military-on-the-Move-Realtor-Manuel-Huitron-158453824780785/

https://www.jbgoodwin.com/

 

First Time Home Buyer

First Time Home Buyer

 

05/28/2018


Posted on May 28, 2018 at 2:51 pm
Manuel Huitron | Posted in Uncategorized | Tagged

Real Estate Investing – The dream or nightmare?

Real Estate Investing – The dream or nightmare?

Have you dreamt about becoming your own boss, having the flexibility to spend time with the ones you love and building the foundation of wealth and future success?

You probably have!

Are you tired of seeing Social Media posts about free seminars/webinars that seem to have hidden agendas about how to become a millionaire in Real Estate over night?

The truth is thousands of people attend some of these seminars only to find out that they are trying to sell you into a “system guaranteed for success”. Now, don’t get me wrong some of these seminars may actually have many truths and even some good information, but one must always dive into a new adventure with caution.

The reason I’m writing this article is because Real Estate Investing can be an amazingly rewarding career in many different aspects but can also become a nightmare if done wrong. Don’t believe the TV shows on HGTV, the truth is that Real Estate Investing is a LOT harder than the TV producers want you to think it is
Given the fact that I am a Licensed Realtor, I can’t give any type of financial advice or ever guarantee a return on an investment; my job is a fiduciary responsibility to my clients and the general public. Be wary of companies trying to pitch on an ROI. If the home they are trying to sell you is such a great investment then why are they not trying to flip it or hold it themselves? Some may argue that wholesalers can make a lot more money by working with large number of transactions hence why they would rather leave this opportunity to someone else, but it still leaves one to wonder if it’s truly a good investment why don’t they keep it to themselves. The after repair value (ARV) of homes in some cases become objective to the seller and have no real market data behind it and things to consider such are some monthly costs associated to the purchased home such as principal, interest, taxes, utilities, maintenance, unforeseen events etc, also, they don’t usually tell you how long the other “comparable” were on the market and will probably not appraise to the value you are being sold on, this as a consequence would make it very difficult for someone getting a loan to actually get the amount of money they need in order to purchase the home without a MONSTER down payment.
I am going to say that I have seen, been part of and know people who have been successful Investing in real estate, the truth is IT CAN BE DONE and these are my recommendations:

– If a home is already on Foreclosure it’s probably already too expensive to give you enough cushion room for a profit, especially with unexperienced investors. YOU MAKE THE MONEY BUYING THE PROPERTY; a bad purchase can be EXTREMELY frustrating and has terminated many investor’s dreams and aspirations. Foreclosures can usually be found on the first Tuesday of every month at the Bexar County Courthouse steps.
– Wholesalers may actually have some of the best properties to invest in; however it’s imperative that you conduct your due diligence. Some wholesalers DO NOT OWN the properties; they only own a contract which will be handed to you. Make sure to conduct a formal “competitive market analysis” (a Licensed Texas Realtor can help you with that); they will need to have access to the MLS.
– Be very careful to “over improve” a property, you may actually never break even if you do this.
– Consider the OLD saying location, location, location. It still holds VERY true. School districts are also very important as well as flood zones.
– Interview different lenders and understand the cost of financing, there are also many other ways to finance that do not involve a conventional loan.
– Always get a survey.
– Learn about closing costs; ask a Realtor or a title company for some guidance.
– Make sure the property goes through a formal inspection with a TREC licensed Inspector; you could be dealing with HUGE issues that may not be noticed by the public eye.
– Make sure there are no “liens” on the home.
– Make sure the Title is clean.
– ALWAYS keep your margin in to perspective (Purchase price + costs + time on the market + closing costs) – sales price = profit/loss
– Make sure the property is not in a FEMA flood zone, this is a risk, may not sell, you will have to purchase flood insurance if you received a loan

Talk to a Real Estate attorney or a financial planner on more information about:

– 1031 exchange 😉
– Capital gains.
– REO (RealEstate Owned)
– International investments and taxes.
– Buying estates after probate.

For more information, please call me at (210) 274-2778

 

So, is Real Estate Investing  truly a dream or is it a nightmare?

Other articles:

https://realtormanuelhuitron.com/2018/05/28/first-time-home-buyer-selecting-realtor

https://realtormanuelhuitron.com/2018/08/29/rent

.https://realtormanuelhuitron.com/2018/07/18/sell-home-without-realtor

Real Estate Investing

Real Estate Investing

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Posted on May 25, 2018 at 12:22 pm
Manuel Huitron | Posted in Uncategorized | Tagged , , , , , , ,

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