How To Find The Next Rental Home

The first step while looking for a furnished apartment will be analyzing the financial budget. There is no point choosing a apartment that will exceed what you can afford. It is rather easy to find what you can afford on rent if you review your other, monthly bills. Whatever sum remains after these costs are deducted will be used for your rent. You should not plan over what you can pay and do not get tempted and wind up regretting it. It helps to look at your earnings and whether it exceeds the rent about double.

The next thing in the process of hunting for a furnished apartment is choosing an area. The best location to rent a property is one that is near to the employer. Walking distance is perfect for people who have car problems. When the renter may find something close to public transit and grocery stores, it’ll be a lot more convenient. The important thing to performing a good move is finding a location that is close to all essential accommodations.

In case you found a location you like, take into account the sort of place you would like, the size and whatever additional features it has. It is obvious that a one-room apartment won’t be appropriate for a big family with young children. A two-bedroom flat usually can house four folks. Smaller sized places might be good for as much as two tenants. Make sure you inquire about all the included additional features and costs, for example internet, water, electrical power etc..

If you ultimately know about all what you need and then what you can devote, it will help considerably while looking and selecting a new place. More often than not the places where one can browse and find rentals will give you unfurnished as well as furnished rentals to pick from. You can then merely ignore all sections that just deal with unfurnished rentals, this will make the search a whole lot easier.

If folks look around on the internet, they can often find images and ever more common, entire video clips presenting the rentals. In case the future tenant sees something appealing in one of the places, she or he should set up an appointment for further talk. Thanks to the web, finding a fantastic furnished apartment nowadays is a lot easier than it ever was.

Best Books On Real Estate

Some of the best books on real estate are some of the most common ones but for unrelated various reasons. Most books on real estate only give anecdotal information and, with the laws varying from state to state, can be difficult to apply to your career.

What I decided to do was to grab a few of these books, both hard cover and also on audio book. I picked up one from Gary Keller (of Keller Williams) Donald Trump & Dean Graziosi. I enjoyed them all but for different reasons.

First off, Gary Keller offers the most practical approach to any real estate agent getting started. He’s one of the most popular real estate agents on the planet and has, in my opinion, one of the most successful brokerages in the US. All the information he provided in his book was applicable to me when I was getting started. His book is really for someone that maybe is a part of a small mom and pop office where there isn’t much training. After one get’s their RE license then few offices offer ongoing training. For the most part, you will have to go to your local board or MLS to obtain any relevant on going training. However, Gary’s books are good and, like I said, give you valuable insight for getting started. I recommend his “The Millionaire Real Estate Agent: It’s not about the money…it’s about being the best you can be!”

My next two favorites are Donald Trump and Dean Graziosi. Now, these are two polarizing individuals. Either you love them or you hate them. I happen to like them both.

For The Donald, I recommend “Trump Strategies For Real Estate”. Now, if you are in a small market you won’t find any real applicable strategies as most of the insight is from DT’s experiences in NYC. The one thing that does irritate me about his books is that, from what I can tell, he doesn’t put pen to paper and write the book. He co-writes with another author that he trusts. Now, nothing wrong with that but I want to hear the author talking to me. There was some valuable information in the book that I read and the insight gained from made me think in ways I had never thought of before. The way he structured and negotiated some of those deals is mind boggling. A very interesting read for sure.

Now, Dean is an interesting cat. If you look him up on line that guy is selling everything from cars to real estate. I like that he has a history selling informational products. One interesting thing I learned from him was that he shared with me how to buy tax liens. A very interesting concept and one that is easy to implement. Well worth reading.

All in all, none of these books gave a step by step process to getting started as a real estate agent and, honestly, I don’t believe any book on the market will give you those tips and tricks encompassed in one book. However, I have found that they are practical in the advice offered. If I had to pick the best of the three I would recommend Gary’s books as a first read. You really can’t go wrong. Especially for the agent that is looking to brush up on some fresh concepts or the new agent looking to get started. The Donald and Dean are good for the real estate investor looking for additional strategies. I enjoyed those for different reasons that I applied to my real estate investing career.

Buying Wholesale Real Estate

How can you buy wholesale real estate from a wholesaler? First, I have to assume that you know the basics of investing in real estate and you understand cash flow formulas and ROI calculations. Without knowledge of these, you might as well close this page and read a comic book instead. Since conventional financing for investors has all but dried up, I also have to assume you have cash. Without cash, you cannot buy from wholesalers. Let me explain how wholesalers work.

Hey, why should you read this and listen to me? Well, I am a wholesaler who has had my share of flaky “investors” who promise it all and deliver little! My idea is to under-promise and over-deliver. When I have a wholes “deal” it REALLY IS a “deal” for the end buyer(investor) with cash.
A wholesaler is like a bird dog. He or she scouts around their target area do “deals”. When the deal is found, it is put under contract in one of several ways. One way is using a short one or two page agreement that is “assignable”. No matter the agreement, it must be assignable. The end result is that the wholesaler will be assigning their contract with their seller to you. You would fulfill the buyers role and pay an assignment fee to the wholesaler. Now there are many variations to what I just described, but suffice to say these are the basics of every wholesale deal.

Your first step is to find one or more wholesalers out there and give them the details of the properties you intent to purchase. Details like specific target neighborhoods, overall condition of the property, BR, BA, etc. Of course a price range would be helpful; you cant just say “as low as possible”. How do you find a wholesaler? Well, its easier than you think. There are probable more wholesalers in your backyard than you realize. Do you ever see those, “We Buy Houses” yellow signs on poles or in someones yard? The sign placer is most likely a wholesaler. Ever see google ads for “We sell houses cheap”. The ad placer is most likely a wholesaler. Craigslist house wanted ads are most likely wholesalers. Craigslist house for sale by owner can be wholesalers with deals ready to buy. Use your imagination and find someone you can work with.

When you find a wholesaler, you need to be sure that you can work together to reach your mutual long-term goals. Find out what the wholesalers goals are for his business and the plans he has to move from wholesaling, if any. A good wholesaler is in it for the long haul and wants to build a successful business out of wholesaling.

Like you, a wholesaler is out to build long-term relationships with his buyers. You should be looking for a wholesaler to build a long-term relationship with also. One time purchasers are not the wholesalers ideal buyers. The first couple of deals you work together with a wholesaler and use the Ronald Regan method to determine the depth of the ongoing relationship; that is “trust and verify”. You need to trust your wholesaler to tell you truthfully everything you want to know that he knows. You also need to verify any information you receive from a wholesaler for accuracy, oversights and judgment errors. You dont want a wholesaler who tells you that they know this neighborhood and the house is worth $200k using Zillows inflated or old estimates when in reality the area only supports $150k properties. Use your own reliable internet resources and if needed, boots on the ground to verify what you are buying. If you by a dud, dont blame you wholesaler; he most likely is a brand new “investor” himself just looking to get started. It is your responsibility to know what you are getting in to. Trust builds on itself and its a two-way street. You need to also be trustworthy and buy the property when you say your going to and pay what you agreed to pay for it.

Creating Joint Tenancy in a Real Estate Deed

There are three basic ways to own property: individually, in joint names with others, and contractually. The type of ownership determines the rights of the individuals on the deed to sell their interest in the property, to will it, or to eliminate their interest. A joint tenancy is a type of concurrent estate in which property is owned by more than one person at a time.

A few states consider the phrase joint tenancy to be synonymous with tenancy in common. For the most part, though, tenancy in common is held when the co-owners of the property are not married or have contributed different amounts to the purchase of the property. The co-owners in tenancy in common contracts are regarded by law as owning separate and distinct shares of the same property.

In a joint tenancy, each owner has an unrestricted right of access to the property, a right to any profits gained from the property, and each owner has a right of contributions for the cost of owning the property.

A joint tenancy with the right of survivorship means that if one owner dies, that owners interest in the property will pass to the surviving owner or owners, without going to probate. The deceased owners interest evaporates and cannot be passed down to his or her heirs, unless the heirs were also the co-owners in the joint tenancy. The deceased owners liabilities, however, can sometimes remain attached to the property.

In a joint tenancy, the title to real property can be cleared when an affidavit of death of joint tenant is filed. This allows the surviving joint tenant to have full property rights without additional paperwork.

To create a joint tenancy, clear language must be used in the deed. For example: AB and CD as joint tenants with right of survivorship and not as tenants in common. In a tenancy in common, co-owners do not always have equal shares in the property. Joint tenancy co-owners have equal shares.

Four conditions must be met to create a joint tenancy: 1) The co-owners must acquire the property at the same time; 2) The co-owners must have the same title to the property. If a condition applies to one owner but not to the other, there is no unity of title; 3) Each owner must have an equal share of the property; and 4) Each owner must have equal rights to possess the whole property. If any of these conditions are not met, the joint tenancy is ineffective and will instead be treated as tenancy in common in equal shares.

If joint tenants agree to sell the property or a portion of it, this agreement must be mutual. The profits from the sale must also be equally divided among the joint tenants. If one of the joint tenants decides to convey his or her interest in the property to a new owner, the joint tenancy is broken, thus creating a tenancy in common.

Tenancy in common is also created by a deed, will, or operation of law. The tenancy in common differs from the joint tenancy in that owners do not have to own equal shares of the property. Tenants in common are also able to dispose of their shares without dealing with the restrictive conditions of a joint tenancy. The right of survivorship is not written in to the tenancy in common, which means that the deceased persons shares will be passed to the heirs.

Green Real Estate

When owning a home, making it as green and environmentally friendly as possible is beneficial to the whole world and to your home. You will be able to get many benefits out there when turning your home into a more energy efficient place to live. There are a number of ways that you can do this. It does not cost much money to become more energy efficient, and it saves you a lot of money in the long run. This is because your energy bills will be lowered, and your house will be warmer. When you an eco-friendly home, you increase the value of the home if you ever decide to sell the home to someone else. Not only that, but you also decrease the amount on your energy bill each and every month. Since there are no drafts, there is no where for the warm air you put in the home to get out. Making your home eco-friendly and green provides you with tax credits on your tax returns as well. This is because the type of new materials you put in your home. If they are good for the environment, and save energy, then the government wants to give some of the money you put into making energy efficient home. These are only a few of the reasons why you might want to think about making your home more energy efficient. This is especially true in those areas that get pretty cold, and a lot of snow such as when you live in homes.

There is something called an R-Value of insulation, and it is very important to keep the heat in your home instead of having it go outside. This is because the more heat it takes to circulate through your home means the more you’re going to have to pay in electric bills, and the more energy it is using to generate that heat. This not only is bad for your wallet, but it is bad for the environment because of all the fumes and gases that it takes to heat your home. If the heater is constantly running, then there is no break for the environment. If you insulate the windows, or even replace older windows with newer windows that have argon gas then this traps the heat that comes from the furnace. You will no longer have to heat the outside, and keep all the warm air in your home. If the heat is trapped, then there is no need for the furnace to constantly run. It will come on, blow the heat out, heat up the home, and turn off. You may not have to hear it kick on again for awhile if your house is properly insulated.
In those places where it becomes very frigid, such as Chicago, you want to ensure that your home is energy efficient. This is something that can be done when you choose the right replacement windows. If you purchase real estate, then you should know if the home was already made to be energy efficient. If you find that it was not, then you’re looking at putting money in for new windows, insulation, and sometimes doors. This should not cost much, and thinking about all the money you will save in your upcoming energy bills, you make the money you spend back in savings. The more people that you get to make their homes energy efficient, the better the world will be because of the decrease in energy usage and pollution from running their furnaces throughout the winter. You might think that changing the windows will not affect the way that the home is heated and holds heat, but this false. Windows are one of the biggest causes of heat loss in homes, especially older homes where the windows have not been replaced in awhile and the insulation is poor. If you live in older homes then you might want to think about replacing windows and adding more insulation before the winter hits. It can be a cold, high cost winter if not.

Many people are switching their homes to a more energy efficient and green way. Saving the environment, as well as saving money in your pocket are two wonderful benefits of doing so. This provides a lot of home with warm heat while not having to constantly run the heater in order to get it. The EnergyStar program is out there for anyone in the United States who makes their homes energy efficient with the right windows and insulation through their program. Not only will they reimburse you for some of the costs you have made to make your home eco-friendly, but they will continue to give you tax deductions on the following years if you qualify. There is no better time than now to start thinking about making your home more energy efficient and green. The world can be a better place once everyone starts doing their parts, and saving more money when it comes to heating their homes.

How You Can Find the perfect Lake Michigan Real-estate for Sale

The terms for locating the most beneficial Lake Michigan housing for sale are highly contingent upon not just your intention for buying, but also your very own tastes in the home as well as environment. Here we are going to discuss ideas on how to find the best houses for sale on Lake Michigan which suit both your budget as well as your particular interests. We’re going to analyze highlights for every primary goal in selecting a home, for which there are 2: One is that of investment, along with the other is selecting a location to live.

For Investment

Lake Michigan properties offers both short-term and long term investment opportunities for competent investors. Whether youre considering establishing a monthly income by renting or youre very likely to sell for profit, below are a few suggestions for finding profitable bargains on Lake Michigan real estate.


Home foreclosure information is available for the general public to evaluate. While some homes are foreclosed on at a loss to the lender due to depreciation, there are numerous circumstances in which the amount essential for the lender is significantly less than that of the assessment value. Look online or talk with your agent about possible investment opportunities through home foreclosures.


Consumers declaring bankruptcy is yet another matter of public knowledge, and this can be used to your advantage as an opportunist. Not every person filing for bankruptcy is going to own their very own residence, however, many will; and some will be in a position to simply accept a low-ball offer.

For Living

The coastal area of Michigan is an ideal destination to live for a multitude of individuals and families. For many people, the position of the residence and also the details of the metropolis in which you will live are equally as essential as the dwelling and suitability of the property itself. Once you have decided the city which best suits you, its time for you to search within that city for the greatest solutions.

Look for Deals

Try to narrow down your list of homes youre considering to sellers who will work with you. Perhaps there exists a seller who is willing to pay your closing costs. Evaluate every piece of real estate with a critical eye for structural damage or alternatives in dcor or furnishings. Many sellers will be willing to cover the expense of redecorating to suit your requirements before entering into a contract.


Whether youre searching for a great investment or a new spot to live, negotiations are definitely the key to any advantageous transaction – especially property. Make sure you have a versatile lender and a dedicated agent that will help you find and negotiate the most beneficial deals on Lake Michigan real estate for sale.

Knowing the Real Estate Fundamentals

The real estate business can easily lift the hopes of the people who want to engage in the most promising money making transactions.

Venturing into the real estate business have made the lives of many people more comfortable than the way it used to be and there is a great chance that it can also create amazing improvements for the people who hope to find their luck in the real estate industry.

However, it is important to know that the risks involved in a real estate venture can really be high for the people who lack the essential knowledge in the real estate business. Like any other industry, people who are aspiring to make it big should learn the basic must-knows that can easily lead them to the most promising places in the business.

For the aspiring person who sees real estate as the industry that can change his life, you can start by knowing the “merchandize” that you will definitely bump into in the world of real estate. The following are some of the things that you should know about vacant lots, residential properties, and commercial properties.

Vacant Lots
Empty lots are the best properties to offer the ones who are after the idea of raising live stocks and growing crops. Some people are looking for properties for farming or to use as ranches and vacant lots are also perfect for the people who want to build their dream home away from the busy city life while enjoying natures glories.

Residential Properties
Ideally, residential properties can be best offered for the people who are in search of a place to live in. Residential properties can come in many forms and that can be any of the following: vacation homes, condominiums, town houses, separate houses, row houses, duplexes, and mansions. There are ranges of options to choose from for the home seekers and of course the decision will definitely depend on their personal preferences.
Commercial Properties
Commercial properties may come either as a vacant lot or with a pre-built building. These properties are especially made for business related investments and definitely a place will only be considered as a commercial property if its capacity to earn great revenues is assessed properly basing on its potential and its past profits. It is only thru dependable valuation can one be confident of gathering enough earnings from such investment.

The real estate business can easily appear appealing for the people who want to gain the benefits that others have successfully enjoyed. A venture into the real estate industry has become instrumental for others lives to change enormously. But of course, the most profitable gains will only be possible if you will be able to put your feet on the path that led other people to their much deserved success.

Certainly the greatest things come from humble beginnings. The real estate business has its fundamentals and for sure, you will find it worthy to start with the basics to be assured that the greatest rewards from the real estate business will be yours to enjoy in the end.

Properties In Naples Real Estate

Naples luxury homes and Naples real estate in general has some very powerful demographic drivers that continue to fuel Naples real estate demand. The first boomers turned 65 in January and according to active seniors real estate developer Del Webb, many are considering Florida for a new home. Before starting the hunt for your dream home, from the foreclosure properties of any of the above neighborhood, you have to decide on your budget – the money you are prepared to invest. Secondly the source of funding – either from your cash resources or finance from the institutions. In any case you have to submit proof of your financial soundness, to qualify you as a potential home buyer – bank balance statements, 401(k) retirement savings plan, or any other deposits with financial institutions etc.

There are many things to see and enjoy during your travel to Naples Park. The fun activities that families can enjoy here include stargazing, kayaking, boating and fishing to name a few. Visitors can also go on nature trails, eco tours, charter fishing trips and trap and skeet shooting excursions. Naples luxury homes and Naples real estate in general has some very powerful demographic drivers that continue to fuel Naples real estate demand. The first boomers turned 65 in January and according to active seniors real estate developer Del Webb, many are considering Florida for a new home. Before you begin your search for suitable foreclosures, it is very important to decide your budget as well as space requirements in order to get the best deals available.You can begin your search for Naples foreclosed homes by looking through real estate, and bank websites listing foreclosure properties and then filtering the suitable ones according to the price range and sizes.

In real estate contracts, contingencies are not uncommon in the least as some can be major setbacks for the seller or the buyer or just minor ones. The many common contingencies above are pretty much normal. Let’s say that a buyer submits an offer to purchase contingent upon whether or not their existing home sells, in addition there is a backup offer from another buyer that has no contingencies in the offer they submit.Back in Naples, a sophisticated enclave supports fine art, symphonic concerts and high-end shopping. Overlooking the Gulf of Mexico, Naples exudes stylishness with beautiful pedestrian walks, shops, art galleries, and eateries. Row after row of palatial homes surrounded by tropical landscaping immerse residents and visitors in a real-life paradise. It’s not unusual so many visitors fall in love with Naples and return to make the area their home. Located in prestigious North Naples, just minutes from the sparkling waters and white sandy beaches of the Gulf of Mexico, The Dunes is an unparalleled waterfront residential resort community.

Real Estate Lesson Learned Is Big Better

At one time in my life I was buying 7-8 Houses a month, fixing them up and then reselling them. Then I got the bright Idea that if I can buy and sell 7-8 a month, I can buy and sell 80. This was a choice that eventually led me to bankruptcy. This has not been that long ago. Twice in my life I have made a lot of money and then took on a large growth spurt and got a large learning experience in business failure. The last one resulted in bankruptcy.

It is hard when things are going well to not be seduced by more is better. When you have something working for you, it is easy to become overconfident and start to think of multiplying it. As with most things in life, you want to be sure when you take on something, that you complete it. Pumping up the volume puts you at risk of not having the structures and being set up to deliver on what you are committed to. You naturally encounter problems that were not present on a smaller scale. It is hard when things are going well to not be seduced by more is better. I had to learn personally that pride Goethe before the fall. The bottom line is that there are always good deals in Real Estate! I say measure your success one house at a time. Buy investor property, fix it up, resell it, rent, do a lease-option, but do it one house at a time.

Multiple Purchases?

One of the most common mistakes I see in business is where investors come into the business and think they need to do multiple houses at a time. Try this on: Try doubling the cost you think it will take to fix the property, doubling the time you think it will take to rehab the property and figure your holding costs doubled (insurance, mortgage payments, taxes, lights, gas, rehab cost).

Great deals in Real Estate dont come in houses fixed and ready to sell. The great buys come from houses that need work. If you are just getting started, stick to cosmetic rehabs (paint and carpet), Dont take on major rehabs. It will take time to develop rehab crew. The most successful people I see in Real Estate do one house at a time. Failures are great; if you look at them and ask what action was missing that would have made a difference?

Hard moneylenders?

One pitfall is using very expensive money. For years I ran a business financed on money from Real Estate Investors who are called hard moneylenders. They look at collateral and loan money based on receiving interest can be 18% or higher when you figure in the closing costs. When you get multiple properties in this condition, you will have interest payments that are going to be double and triple what conventional financing is in Real Estate.

Now combine this with the common lie we tell ourselves that we can repair the house and put it back on the market for sale or rent in a short time. Your overhead will rise because you will need a staff to manage and rehab everything. Can you see this is a recipe for disaster for everyone? Now if you are doing one house at a time, your overhead will probably stay very low, with very little staff. Therefore you have limited your expenditure of time, money and aggravation.

The American Housing Bubble Timeline And Causes

The USA housing bubble wasn’t something that popped out of a box one day. It was building up for the better part of the decade, but it still came as a shock. The subprime mortgage crisis and the real estate market crash were quickly followed by a severe credit crunch. With loans drying up, consumers stopped buying and the vicious cycle spiraled into the Great Recession of 2008-09. From 2007 to 2010, tens of millions of people lost either their homes or jobs or both.

The roots of this crisis go back to 2001, to the dot com crash and 9/11. This deadly combination knocked the stuffing out of the economy and the only thing people had left to maintain their lifestyles was home equity. Congress deregulated the banks and the Federal Reserve kept interest rates low, thus allowing mortgage lenders to shovel money out the front door to all comers.

The result was that speculators started buying homes just to make a quick buck. Even for ordinary home owners, it was easy to take out equity loans and second mortgages so that they could enjoy the fruits of the housing boom. According to BLS (Bureau of Labor Statistics) data, non-farm payroll employment for residential construction jumped 29.1% from 2001-06. Employment among loan brokers jumped nearly 120% during the same period, and the real estate credit industry grew by 52%.

Speculation fueled by irrational exuberance is what the FED is there for. They could easily have kept it under control by increasing interest rates. Instead, they did nothing until it was too late. Wall St. Was knee deep in derivative products created from these subprime mortgages. The lenders had created mortgage packages graded by the credit ratings agencies and then handed them off to investors.

Private equity funds began using it to setup massive leveraged deals where companies were wildly overvalued and the only security the banks had was these worthless mortgage papers. Everybody was in on the systemic fraud, and share values and home prices kept climbing. When the bubble finally collapsed in 2007, the banks were left mortgages in default and bankrupt companies which had been valued at billions just a year or two before.

By this time, home values had tanked so much that even ordinary people who had nothing to do with the mess found their home loans underwater. From 2006 to 2009, the real estate industry lost all the gains for the entire decade, and then some. Employment in residential construction dropped 36.6% and home loan credit companies started laying off employees so fast they lost 44% of the workforce in the same period.

Faced by a credit crunch and delinquent home owners, the banks panicked and sent out millions of foreclosure notices. Nearly 8 million homes were ultimately foreclosed in 2009-10. Over 10 million homes were still underwater in 2011, poised on the edge. The federal government has now forced the five biggest banks to spend $25 billion to help out everyone who lost their homes due to The USA housing bubble.