Tuesday, June 30, 2015
Tuesday, June 23, 2015
Sunday, June 21, 2015
Wednesday, June 17, 2015
LASH COMMENTARIES: City management their own worst enemy
LASH COMMENTARIES: City management their own worst enemy: What is the deal with abandoned and vacant properties. Cities often have a silly rule of inspecting them for safety. Now as a Real Estate I...
City management their own worst enemy
What is the deal with abandoned and vacant properties. Cities often have a silly rule of inspecting them for safety. Now as a Real Estate Investor this can definitely put a monkey wrench in your well thought out rehab. You have everything set to go. The property closes and your contractors are scheduled. You have already bought the supplies. Three weeks and we sell this property. giving back to the neighborhood as a beautiful home for a family.
Well it did not go that way. What we live in the good old USA. Freedom and all the great things that go along with that. The city says you cannot get water, because this house has been empty for a year. Okay I can comply with that. It is now 5 weeks later and still no sign of the people who live and work and probably drive by your property everyday. Well your first thought is money. They want money, but yet they are not getting any money until they do the inspection and issue my permits. So what is it all about.
Some cities deliberately cause this nightmare in particular areas in order to bulldoze off old neighborhoods so hedge funds can come in and develop new businesses or homes and neighborhoods.
I wish I could say this was my case, but it is not. In my case the management of the city is just behind the 8 ball. They don't seem to be able to get anything done due to the shortage of staff. If the city cannot afford adequate staff to take care of rules they have imposed, maybe they should be fined for the loss of funds to the homeowner. Shouldn't they have some restrictions on their inspection requirement. Like if we cannot do this in a week the homeowner is free to turn on the water and move in or get permits to do repairs. Why is the city not held responsible. Don't we pay their salary. Why are they making our life uncomfortable and seem to bear no responsibility for the loss to taxpayers.
Some cities just seem to run the city into the ground to the point they cannot get anyone to invest or buy property in their area. I believe that most people elected or placed in city positions just should not be there. They somehow got in office and really have no clue how to manage a city. The point I am making is that city management need to become public friendly, after all they are public servants and should work with our best interest in mind.
I suggest that city employees all think about the fact that we do pay for their lifestyle.. We put them there to work in our best interest and keep the city running smooth.
Sunday, June 14, 2015
LASH COMMENTARIES: Real Estate in on the move. What will sell?
LASH COMMENTARIES: Real Estate in on the move. What will sell?: Our Country has seen the best and the worst in real estate trends in the past decade. The large wave of bank foreclosures and unemployment ...
Real Estate in on the move. What will sell?
Our Country has seen the best and the worst in real estate trends in the past decade. The large wave of bank foreclosures and unemployment seem to have faded in background. We now have a new group of home buyers. Eager to buy the perfect house. Yes I said perfect house.
Our young upcoming home buyers have been watching the Property Brothers for sure. They expect the whole layout. Open floor plan. Luxury spa like bathrooms and of course the ultimate in a Chef's kitchen. Yes the celebrity life style is on the move. California is trending into the markets in Michigan.
My recommendation for anyone selling a home in this current market is to fix it up or face a very low price on you investment. Now that being said. Since the hedge funds have bought up all the REO property so us little guys can't get to ii, we have a slight housing shortage driving prices up on the current available homes. Good news for sellers at the moment. Sell, Sell, Sell if you want to get out. You will more than likely get your price from a first time home buyer.
I predict the next wave will be the remodeling of every home that investors can gett their hands on. You know with both people working they don't have the time or often skills to do the work themselves. They want that picture perfect no maintenance move in ready home and investors should be prepared to put in the upgrades.
Stainless steel appliances, tile floors, granite counter tops etc. You are not going to be able to cheap your way with this young group of buyers. they will have a discriminating tastes we have never seen the likes of in the Michigan market.
If you have a home go ahead and splurge on that upgrade, You may as well enjoy it now and reap the benefits later. Make sure you are maintaining the home to keep the major repairs down at the time you decide to sell. A bad roof can cost you a lot more at the selling point than if you had replaced it. so protect your investment and care for it well. It may be worth it to move out update and then sell. This will be a sellers market for quite awhile. So take a few thousand and maximize your profits on your equity.
Wednesday, June 10, 2015
LASH COMMENTARIES: Real Estate Investing. Are you ready to take the P...
LASH COMMENTARIES: Real Estate Investing. Are you ready to take the P...: Real Estate Investing is impossible! So we may say to ourselves, but is it really? All those big Hedgefunds and all their money and in...
Real Estate Investing. Are you ready to take the Plunge?
Real Estate Investing is impossible! So we may say to ourselves, but is it really? All those big Hedgefunds and all their money and infinite resources are sucking our markets dry. Not to mention the avalanche of online real estate Gurus and their internet prowess from anywhere in the world. Can the little guy make it big in this crazy real estate world.
I say yes. You just have to have a solid plan and take advantage of all the wisdom and knowledge available on the internet. Go to some seminars. Read some books. Absorb the millionaire mentality and snatch it for yourself and your future. Lets face it. What do we have to lose. A 9-5 job that will never support our retirement, if we can retire in these economic times. We need to figure out Why? Yes I said WHY? If we know the WHY in our life we can forge ahead and make anything possible.
The journey to being Real Estate Investor is an exciting and challenging path. You will encounter all your fears, but if you feel the fear and do it anyway you can achieve anything. Each and every day and each and every deal will present challenges. You learn to adapt and change to accommodate to create your world. Yes your world, not the bosses world, but your world. Wow what an amazing adventure when your world comes alive because you had faith and believed that you are in fact an Investor.
That first deal is the ultimate achievement. The one you can't wait to get and can't wait to finish. Yes you know the one. The one that you thought was gonna take 3 weeks and a month goes by and you still can't get into the property, because of some silly city inspection. Yeah you know the deal. time is ticking and you really had no warning or idea that this could even happen. Yes live and learn the investors motto.
I do believe that if you want something bad enough, you can do it. Now if it were easy everyone would do it. So don't get me wrong. You will spend tireless days working at your 9-5 to get the paycheck that barely pays the bills. Then late nights and weekends looking at broke down properties, just to see if there is a deal there. Then how are you going to finance it? Hard Money? Not sure, but you don't have it in the bank. Creative financing becomes your friend. What can I juggle to get the deal and then after a couple of deals, maybe someone will notice my achievements and loan to me to do another deal.
You then realize how many things you need to run a successful business. Help. I need Help. SEO what the hey is SEO. Well the method to even get noticed on the internet is in depth and complicated. So many programs to offer you help in so many different ways. It is almost impossible to choose. Then what do I do about taxes and liability. What type of legal entity do I create?
Wow there are more questions than answers, but not to worry there are plenty of Real Estate Gurus out there just pick a program and go for it.
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