Category Archives: Buying & Selling Tips

Ways To Make Your Home Sale-Ready

If you are planning to sell your home, then the first step that you need to take is to check all the rooms and see what parts of your house need to be repaired or renovated. Leaving a good first impression to the buyers is the most important thing and even minor mistakes like small cracks or flaking paint may become the cause to say goodbye to a good price for your home. Get all these problems fixed before you show the house to anyone. Do not leave any chance for them to think that you did a last minute fix up job.

To make it more easy for you and understand more about open houses, it would be a better idea to go for one. Here you can observe people inspecting the home and see how the home itself has been prepped for others to see. After coming back you can see whether your house meets all the requirements that buyers usually look for. Once the interiors of your home are done, you will also need to look at your exteriors. Your house should exactly look like the one that is on display. If you have picket fencing, get it painted. If you have plants in your courtyard or window shelves, see to it that they have been cleaned and the plants freshly trimmed. Get all your exterior metal decors polished and do not look faded or corroded.

If there are any patches and pit holes in your driveway, get them filled. Also looks at all your drainages and make sure that there is nothing blocking it from any point. Get it cleaned thoroughly.

If you want to make your home and space more attractive, take a little more trouble to trim bushes, clean pots and replant in the places where you think it is required. Do not forget to get our home cleaned, dusted and vacuumed on the final day.


Top Reasons Why Hard Money Lenders Are Considered By More And More Investors

Hard money lenders have turned out to be the most reliable providers of financing in the real estate industry.

All types of real estate investors today avoid bank loans and look for an alternative option in place of this. Bank loans have a complicated application process and hence turned out to be strenuous every time. The hard money lenders are willing to work and provide you the financial services as per your requirement, where you don’t need to worry about paying huge down payments and monthly payments. The rehab money lenders can help you to get the cast without paying much attention on the value of real estate that you are planning to invest in. Once you have purchased the property you can get it renovated and sell it. Once you are finished with selling part, you can pay back the hard money lender plus you can also keep all the profit that you have made off of the property.

The process with hard money lenders is less complicated:

Choosing a Hard Money lender instead of choosing a bank can be a better option if you want this process to be stress free. You just don’t have to worry about all the intricate aspects that a getting a loan involves. Applying for a loan is not an easy process to go for rather it is very difficult and time consuming. Choose going with a hard money lender and get what you need without complications.

Why do you need a hard money lender?

Hard money lenders hardly ever require as much money down as banks do. They make it much easier for you to get the money as compared to the complicated process requires in the banks. The Hard money lenders provide money to their customers by requiring less down as they want to make it more affordable for the customers to choose them instead of going with the banks. There are times when you do not have as much cash as the banks demand for in in such cases you won’t be able to invest unless you find a hard money lender.


Why Every Good Trust Deed Investment Starts with a Good Broker

Most investors will complain that their retirement portfolios are under performing. Since banks stopped lending back in 2008, many investors are diversifying their retirement portfolios by investing in trust deeds on real estate. If these investors aren’t knowledgeable about real estate, trying to get into real estate so late in life may be a mistake. This is why many investors are looking for a good broker to help them find the best properties and borrowers, to make a loan against a piece of real estate that will yield higher returns. This is what is called trust deed investing.

A trust deed investment is essentially making a loan on a piece of real estate exactly like a bank would. The difference is the property type and the borrower. A trust deed investor, also called a private money lender, is making loans to experienced real estate investors who have a track record and experience buying and selling investment properties. The properties are usually income-producing assets, which make for a relatively safe place to park your cash for a short duration. But again, trying to invest in trust deeds on your own is risky, this is why you need a good broker.

Private money lenders are able to get 9%, and as high as 11%, annual returns on trust deed investments. Savings accounts pay from 0.2% to 1.05%.  Money market deposit accounts are paying 1.25%, while high yield internet checking accounts are paying 2-3%. CDs are offering 1.85% while World Currency CDs can earn you returns as high as 3 to 4%.


Avoid Paying Too Much for a Property in a Bidding War

The biggest complaint from real estate investors in some markets like Southern California and Phoenix is that properties are being bid up over the asking prices. So how do you keep from paying too much on a property when the stakes are high? Here are 3 tips to keep from paying too much:

Decide on Your Max Offer Price and Stay Firm: Once you determine your maximum offer price, stick with it! Sometimes realtors will get your reason all out of whack and may encourage you to offer too much for a property. Don’t succumb to your emotions, stay cool and focused.

Run Your Own Comparables: A realtor may give you comparables but run your own comparables, analyze them carefully, and drive the neighborhoods to make sure they are true comparables to the house you are looking to purchase. How far away from your target property are the comparables? A finished basement or a detached garage are examples of things that can throw off the comparables, so ask your realtor the hard questions and make sure your comps are accurate. Don’t allow a tiny oversight in your comparables to cause you to pay too much for a property.

Determine the Repairs before You Bid: If you can, get inside the property in order to see what items need repairing and what upgrades will be needed. What will be the cost of these things and does the deal make sense once you factor these in?

 


Use Equity Line of Credit to Get Your Property Ready for Sale

For both homeowners and real estate investors, using an equity line of credit has always been the best way to get a property ready to sell. But for those of you who have tried to apply for an equity line of credit at your bank, you may have noticed that it is really difficult to get them. Fortunately these loans are still available from real estate lenders, also called private money lenders.

For those who can’t qualify at the bank, real estate lenders can provide rehab loans to help you do what you need to do to get a property sold. These rehab loans act like a HELOC or an equity line of credit because they provide the funds needed to repair or update a property.

These loans are far easier to obtain than a bank loan, and the requirements of a private money loan for an equity line of credit are also far less. Because many times you want to get a property sold quickly, another advantage of rehab loans is the speed of closing. A private money loan is the best alternative for a quick loan funding.  If you can’t get a HELOC from your bank, consider using a private money lender to finance the repairs and upgrades to your property with a rehab loan.


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