Tips for selling “less-desirable” homes

If you focus on their strengths, less popular houses can be more appealing than you might think.

Are you trying to sell a less-desirable home? These days, many home buyers want open floor plans, huge master suites (including master baths with walk-in showers and whirlpool tubs), and large, bright kitchens with high-end stainless-steel appliances. Buyers with that kind of vision may find a dated split-level or a mid-century ranch home with small bedrooms lacking.  

§         Assuming you’re not going to spend tons of money remodeling your less-desirable home, you need to figure out how to highlight your home’s best features. Here are some tips that might help turn your less-desirable home into to a must-see:

 §         Heavy curtains can make a room seem dingy and closed off from the outdoors. New, minimal window treatments can bring the outside in and brighten up even the most undesirable rooms.

 §         Split-level homes, now considered less-desirable homes by many, often feature large dens with fireplaces. Make sure the den looks large and cozy, not dark and crowded. Get rid of any outdated furnishings and clean the fireplace. Consider painting over outdated brick or covering it with travertine tile.

 §         Most buyers want to see a bright, clean, modern kitchen. If yours isn’t modern, at least make sure it’s clean. Consider updated lighting and hardware to counter the dated look of many less-desirable homes.

 §         Light-colored paint can freshen up older, less-desirable homes and make them look newer.

 §         Remove or replace old, stained or worn carpeting, which makes a home look shabby. Refinished hardwood floors reinforce the appeal of an older home.

 §         Clutter turns buyers off. If you clear the clutter, rooms that may be small by today’s standards, and therefore less desirable, will appear larger.

 §         Curb appeal is even more important for less-desirable homes. Attractive, easy-to-maintain landscaping, bright annuals and well-trimmed trees can help turn an outdated home into a quaint home nestled in a mature neighborhood.

 Consider hiring a professional home stager, who is trained to de-emphasize the weaknesses of less-desirable homes and highlight their strengths.

 

Tony Saccaro
Real Estate Investor

www.bigdawgsbuyhouses.com
www.bigdawgcash.com
www.tonygivesyouenergy.com
www.allamericanemall.com/ts7509

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We buy & Sell houses Tampa Real estate Secrets

My name is Tony Saccaro and Big Dawgs buy houses. I created a Website for you Realestatesecretsoftheunknown.com. Check us out and be prepared for a whole lotta info

We buy & Sell houses Tampa Real estate Secrets

Get Real Estate Tips to avoid mistakes

Looking for Deals, we buy houses we sell houses. Check out Bigdawgsbuyhouses.com & realestatesecretsoftheunknown.com for the latest tips and tricks to suceed in this market. Foreclosures, shortsale

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16 Tips to Buy Real Estate Successfully

16 Tips to Buy  Real Estate Successfully 1. Do not overanalyze. You may lose a lot of great opportunities to make great deal of money. Start making offers!

2. Get the property under a contract first with a safety clause. 3. Ask fellow investors, real estate broker about the property value. If it makes sense go ahead with the purchase. 4. If you are buying for a quick flip neighborhoods do not matter. What matters is the $$$ you are going to make. 5. Your perfect buy should be a house/condo/building in excellent condition and in a good neighborhood. 6. Your Second choice should be a cosmetic fixer in a good neighborhood. 7. Inspect the property. Try to get as many things fixed by the seller as possible. Check the neighborhood. Drive around the block. Look at the houses in the neighborhood, what is their condition. Look at the cars parked in the street. Old cars normally can tell you a lot about the neighborhood. Trash on the sidewalks can spell less than great neighborhood. Which in turns means you should buy and sell quickly (most of the time). Renting in those neighborhood could be challenging, especially for the new investor. 8. Use a real estate agent or broker if your a begginer. Try to get access to the MLS so you can look for deals yourself. 9. Shop around for Financing. My experiences with the loan officers tells me one thing. Email them your questions and ask them to email you back their answers or put them on paper. They tend to always change terms and rates (though illegal), and put junk charges. 10. Try to reduce your Title/Escrow charges review them with an experienced investor or real estate agent. 11. Use a real estate attorney for your foreclosure/pre-foreclosure purchases. 12. Read articles on Real Estate Investing Educational sites.   Read as much as you can from them. 13. Make connections with other fellow real estate investors. You can learn great deal first hand experience from them. One peace of advice alone could be worth thousands for you. So if you like challenges and lifetime learning Real Estate Investing is a great field to work and have fun. 14. Advertise yourself. Get business cards hand them to interested people. Place ads in the newspaper and use whatever other means of advertising you can think of. 15. Use the right Real Estate Forms when you buy and sell. If you dont have any forms email me and I can send you some forms. 16. Do not be afraid to buy real estate Fear and lack of knowledge are the number one factor for failure. Thanks Tony Saccaro www.bigdawgsbuyhouses.com www.realestatesecretsoftheunknown.com

Three Real Estate Secrets Not many Investors know!

Some real estate secrets are right out there in the open for everyone to see. The second secret below, for example, is simply to make low offers. Real estate agents and others will argue that you just waste everyone’s time because low offers just aren’t accepted, but common sense and experience say that they do sometimes work. Other secrets are not so obvious, as this first one demonstrates:

The Value Is In More Than The Property

Real estate prices are determined by the market. If buyers are paying $200,000 for similar homes in your area, that’s probably about what you’ll get, unless you make your property better in some way. If buyers will pay $10,000 more for a finished basement, for example, then it makes sense to finish that basement if the cost is say, $5,000. When you think “better” however, don’t limit your thinking to the property itself. How else can you raise the price?

You can raise your price by making the property easier to buy. This is one of the most overlooked real estate secrets. I once bought property for cash and sold it for 30% more a few weeks later simply because I sold it with easy payments. No cash? You might refinance your home to raise the cash. A $18,000 lot, for example, paid for with money borrowed on your home at 6%, might be sold for $24,000, with 9% interest, if you make the down payment and monthly payments low enough for the buyer.

The other way to make it easier for the buyer and so raise your price, is to sell on a lease-option. The buyer pays higher than normal rent, with part of that rent applying towards the down payment if he chooses to exercise his option to buy. The price is typically set according to what the house will be worth at the end of the option period (two years is common). With a non-refundable deposit or “option fee” and high rent, you do well whether or not the house is bought.

How much more can you ask when you make buying easy? It depends on a lot of factors, of course. Here is an example: a couple years ago, we wanted to sell a mobile home (with a lot) that we owned. Because these are difficult to finance, we figured we could get about $36,000 cash. We sold it for $45,000 however, by letting the buyer make a reasonable down payment and then making payments to us directly. We also are making thousands from the interest over the years.

The Secrets Of Low Offers

Making low offers can be a great way to get cheap real estate. But don’t expect to make a few really low offers and snag a great piece of real estate at half-price. Be realistic in your offering prices, and use this two-step plan to make this strategy effective:

1. Find sellers likely to accept a low offer.

2. Make a lot of offers.

Start by identifying “motivated sellers.” This can mean looking in areas that are temporarily slow markets, but primarily you are looking for sellers that need to or want to sell fast for some good reason. These reasons can range from needing to move for a job to just being tired of owning a rental.

Make a lot of offers. Most sellers – even motivated ones – will say no to an offer that is 15% to 20% below their asking price. This is what you’ll often have to aim for, though, if you intend to flip the property for a profit, because transaction costs (commissions, taxes, closing, etc.) can eat up 10% of the value. This strategy will annoy real estate agents, by the way, and may even embarrass you. That is the price you pay for getting a great deal.

On the other hand, if you don’t have a property in your hands by the time you’ve made 100 offers, you may be going too low on your offers, or targeting the wrong properties.

Counting Backwards

When doing fixer upper for a quick profit, you have to start at the end and figure backwards. The “end” is the sales price you are likely to get when you sell. Subtract all costs and your desired profit from this figure to determine how much you can offer.

For example, decide what a potential fixer-upper needs and then – with help if necessary – determine what it will sell for once you do the planned improvements and repairs. Let’s suppose that this is $225,000. Now you have to figure as carefully as you can what every single costs will be. These costs include buying costs, repair and improvement costs, utilities, taxes, interest on loans, sale’s commission, advertising costs, selling costs, and anything else you can think of.

All of those costs AND the profit you want for your effort have to be subtracted from the projected sales price. This is how you arrive at the maximum price you can offer. This procedure is often ignored by investors even though it is one of the simplest and most important real estate secrets.

 

Tony Saccaro
Real Estate Investor
www.bigdawgsbuyhouses.com
www.bigdawgcash.com
www.tonygivesyouenergy.com

www.realestatesecretsoftheunknown.com
www.allamericanemall.com/ts7509

The Key to Getting Started in Real Estate Investing (Know Your Risks)

There are smart reasons to invest in real estate, and then there are dumb reasons. The truth is, for example, that we can’t know for sure whether what’s happening in real estate right now is the formation of a “bubble.” It’s the first thing you must question if you’re getting started in real estate investing, and the one issue you’ll continuously address. But if you’re investing for the “right” reasons – and you know your risks – chances are your investment will be a good one.

While the topic of real estate investing is just too big to cover in one short note, I’ll cover some of the major points that you’ve got to keep in mind…

1. Speculating versus Investing

Buying a chunk of land and hoping it goes up in value is SPECULATING. Buying a property to collect high income in the form of rent is INVESTING. When you compare investors who speculated in Nasdaq stocks in 2000 (and lost it all) to those who invested in bonds and smartly collected income, the difference in risk between speculating and investing is obvious. Investing is a much safer (and smarter) way to go.

2. “Property Will Always Go up in Value”

Don’t believe this dangerous myth! Property prices in Japan have fallen by 75% over the last decade – about the same amount that Nasdaq stocks have fallen since 2000. Hoping for – or worse, expecting – a price rise is speculation. Make sure the investment makes great sense from a positive-cash-flow perspective first. Then if the property falls in value, you’re still “right side up” on your cash flows. Consider any appreciation to be simply icing on the cake when it comes to speculative real estate investing.

3. Getting Started in Real Estate Investing with Residential Property

It’s easier to understand, purchase, and manage than other types of property. If you’re a homeowner, you’ve already got experience here. And you’re the boss. Start close to home, so you can stay on top of things.

4. Truthful Real Estate Investment Advice: Don’t Believe Everything You Hear or Read

Sellers and real estate agents ultimately want you to buy that property. So what they’re telling you is most likely the rosy scenario, not the actual scenario. If the property has been a rental, ask the seller for his Schedule E form from his taxes. It’ll show his ACTUAL revenue and expenses, or at least the ones he reported to the government. What you can expect to earn is somewhere between what he reported to the IRS and what he’s promising you.

5. Where To Buy

There is – as you probably know – a widely held belief that the three most important factors involved in real estate success are “Location, Location, Location.” But real estate experts actually say there’s MORE profit in less desirable locations. Most look for what we call a “double-digit cap rate.” As an example, if you net $1,000 a month in rent on a $100,000 investment, that’s $12,000 a year, or 12% of $100,000. That’s a double-digit return that year or a double-digit cap rate. The catch is that this is NET rent or rent AFTER expenses. My parents have had rental properties for decades. And off the top of his head, my father suggests that 5-10% is close to what really happens, even after doing your homework.

Conclusion: there are no get-rich quick schemes here, and THAT is plain, simple real estate investment advice you’re not likely to get from the real estate industry.
www.realestatesecretsoftheunknown.com

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33 Ways to Find Motivated Sellers

33 Ways to Find Motivated Sellers

1.Place a newspaper ad (major daily) 2.Place an ad in Pennysaver, Thrifty Nickel, Greensheet, etc. 3.Bandit signs 4.Drive neighborhoods looking for vacant houses and FSBO’s 5.Call FSBO ads 6.Search MLS for junker properties 7.Search MLS for expired listings 8.Contact landlords who are evicting a tenant 9.Contact landlords with properties for rent 10.                   Pre-foreclosures 11.                   Foreclosure auctions 12.                   REO’s 13.                   HUD & VA houses 14.                   Tax sales 15.                   Estate sales 16.                   Properties with outstanding building code violations 17.                   Properties with outstanding health code violations 18.                   Condemned properties 19.                   Fire damaged properties 20.                   Out of area owners 21.                   Network with professionals, i.e. attorney, CPA, REALTOR�. 22.                   Network with service people, i.e. letter carrier, pool service person, lawn service person, newspaper delivery person, carpet cleaning people, plumbers, etc. 23.                   Bird dogs 24.                   Wholesalers 25.                   Magnetic car sign 26.                   Distribute business cards EVERYWHERE 27.                   Career attire (Polo shirt with embroidered “I Buy Houses” logo) 28.                   Fliers 29.                   Door hangers In my area (Tampa), some of the big players also do #30. billboards, #31. radio spots, #32 TV spots, and #33. full-page ads in the yellow pages. Hope this helps. Best of success!

 

 

Tony Saccaro
Real Estate Investor
www.bigdawgsbuyhouses.com
www.bigdawgcash.com
www.advocare.com/0312767
www.allamericanemall.com/ts7509