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20
Apr

I’ve gotten a number of positive responses to my recent post about including multifamily properties in your investment portfolio. Therefore, I’d like to provide some additional information on this subject. This 28-minute video is titled, “Apartment Investing for Beginners” and it features Peter Harris of Commercial Property Advisors. In this video Peter explains why apartments are ideal for getting started in commercial real estate investing and he does an excellent job discussing: 1.) Why starting with apartments is good; 2.) 7 Things to look out for; 3.) 3 Areas beginner investors go wrong; 4.) His first apartment deal; and 5.) An action plan for getting started. I think you’ll find this video informative.
— Joe

 

 

Contact Information

Joe Pleva, Director
Keller Williams®
202 Manufacturers Road
Chattanooga, TN 37405

Mobile: 423-667-6204
Office: 423-664-1550
Fax: 423-826-4951
Email: Joe@yourrealtysolutionsteam.com

13
Apr

If you are thinking about investing in commercial real estate you might want to include multifamily properties in your investment portfolio. This article from “Realtor Mag,” the official magazine of the National Association of Realtors, will hopefully provide you with some new insight into this potential opportunity area.
— Joe

Investors looking for single-family rentals are running into supply issues, but that doesn’t mean they’re out of luck; they just need to think outside the box.

MAY 2014 | BY BRENTON HAYDEN
Over the past few years, institutional investors have gobbled up the available stock of desirable single-family rentals in many markets. Rather than compete with these large investment companies, why not try multifamily investment?

Too many investors immediately rule multifamily homes as unaffordable and high maintenance, which is a costly mistake. In many cases, multifamily property can be a better investment than single-family homes. If you know your audience and are willing to be creative, a multifamily investment property could be the best purchase you ever make. Here are three reasons:

1. More reliable income. A vacant single-family home means zero income. However, barring a major disaster, your multifamily home will rarely sit completely unoccupied, even during high turnover seasons. This fact gives you the leeway you need to repair or renovate vacant units, and the time you’ll need to find quality tenants rather than accepting the first person who submits a rental application.

2. Tried and true. There is still a large base of tenants looking for multifamily homes, believe it or not. A recent study by the National Multifamily Housing Council shows only one-third of rental properties are single-family homes while 63 percent are multifamily. If you don’t believe it, take a look at the skyline. Hopefully all of those high-rise apartment buildings don’t block the view.

3. Cheaper by the pound. Let’s face it: That big initial price tag of a building can be terrifying. The key is to think of this purchase as the investment that it is. After all, your price per unit will be much lower than it would be if you dealt exclusively in single-family properties.

Despite all this encouragement, multifamily investing is still daunting. It is fairly different than investing in a single-family home, and there are some extra items to consider.

Amenities Are King

One of the biggest factors to look at when purchasing a multifamily home is location (some things never change). Are there amenities within walking distance? Is public transportation available?

Tenants interested in a unit in a multifamily home are likely more dependent on local amenities and public transportation than tenants interested in a single-family home. That beautifully renovated duplex on the city limits may not be a great investment if there is no bus route nearby.

Knowing the area will also give you a good idea of the kind of income you can expect. Just because the listing says you can expect a certain income per unit doesn’t necessarily make it true. Do your research to find comparable properties nearby.

Financing Differences

Just as you need to do your due diligence in researching the neighborhood, it’s important to be aware of all the local laws governing the financing of multifamily purchases.

In some states, the financing for a multifamily home is based on the property’s ability to generate income, instead of being based upon the buyer’s credit, as is the case in the purchase of a single-family home. In other states, multifamily property investments are actively encouraged through favorable financing regulations.

Stiff Competition

When it comes time to find tenants, your multifamily building will have more obvious competition. Just as it was easier for you to find comparables when you were researching the multifamily market, it’ll be just as simple for renters to do the same and shop around for the best deal. You’ll need to be more aggressive with advertising, pricing, and differentiation in the multifamily marketing world.

As the market starts to cool off in some regions, and heat up in others, it’s important to do your research when purchasing a home. Make sure you have realistically assessed the need for multifamily space in your area and the market potential of your investment.

In the overcrowded single-family rental market, multifamily properties are a blessing in disguise. Before you discount that downtown high-rise or the contemporary duplex, consider the facts. You can’t judge an investment by its dual occupancy status. Jumping to conclusions about multifamily properties might just mean missing the investment of a lifetime.

 

Contact Information

Joe Pleva, Director
Keller Williams®
202 Manufacturers Road
Chattanooga, TN 37405

Mobile: 423-667-6204
Office: 423-664-1550
Fax: 423-826-4951
Email: Joe@yourrealtysolutionsteam.com

20
Mar

Want to learn more about 1031 Exchanges? If you are a property investor and intend to keep your accumulated wealth, you must know the 1031 Exchange. In this 46-minute podcast Peter Harris, a leading expert in the field of commercial real estate investing, dives into the mechanics, conditions, timelines, whys and why nots of 1031 exchanges. IN A HURRY? SKIP THE FIRST 7.5 MINUTES!
— Joe

 

Contact Information

Joe Pleva, Director
Keller Williams®
202 Manufacturers Road
Chattanooga, TN 37405

Mobile: 423-667-6204
Office: 423-664-1550
Fax: 423-826-4951
Email: Joe@yourrealtysolutionsteam.com

13
Mar

I recently ran across a number of commercial real estate related articles written by Brian E. Bell, an Australian real estate agent. I think the information he provides is factual and worthy of re-publishing on my website. This is the second of two article that address a few of the things a would-be commercial real estate investor should be aware of as he or she contemplates making a significant real estate investment. I hope you find it informative.
— Joe

There are many different ways you can do to make money and wealth from property investment. Real estate experts say that there are a lot of possibilities, and if you already own a home and still have a few dollars to invest to improve the appearance of the place, and if you are truly a business-savvy, then you will have many more options.

There are instances wherein we move home just like when we transfer to a bigger home in order to provide more space to the family or take up a smaller home just to stay nearer a particular area. During these instances, we are presented with an opportunity to turn our main place of residence into an investment property. It is important that in such cases, you will be able to carry out a decision carefully because a wrong decision could mean the loss of future wealth.

However, real estate professionals point out that most property owners turned out to be satisfied with their decision because they are able to prevent the problems from happening through proper preparation and careful selection.

If you are planning of putting your property for rent, instead of selling it, it would help if you are aware of the usual considerations. Listed below are several of these considerations.

Knowing about Tenancy law and policies – It is important that you know about these in order to protect your asset. Get some advice on the common rules that you can implement and which tenants need to adhere to. This is to ensure that when the contract terminates, you will not be disappointed for renting out your property because the tenants were allowed to do just about anything they wanted to the place.

Your responsibilities as the landlord – It is your responsibility as the landlord to do the repairs and other maintenance on the property. This is important to ensure the steady rental returns aside from increasing the value of your investment property. It would be wise if you allocate an amount of money that will go to the purchase of worn out things as well as for the general maintenance of the property.

Setting the right rental rate – Determining the right rental rate will help you in presenting your property as an attractive choice to renters. The rental rate is not all about you getting enough returns to cover the holding costs. Aside from getting a positive yield, you should also consider the requirement of most renters and what they look out for when choosing a place. Do research on your local market in order to have an idea of the ideal rate you will set for your property. Then, do a conservative cash flow analysis; outline the income you expect to get against the financial obligations for the property for each month which includes maintenance costs, taxes, utilities, insurance, mortgage, and others.

And so, instead of selling your home why not consider turning it into an investment property? This might just be a smart investment advice you can take.

Get property investment tips and advice from experts at http://www.empowerwealth.com.au.

Article Source: http://EzineArticles.com/?expert=Brian_E_Bell

Article Source: http://EzineArticles.com/8892515

 

Contact Information

Joe Pleva, Director
Keller Williams®
202 Manufacturers Road
Chattanooga, TN 37405

Mobile: 423-667-6204
Office: 423-664-1550
Fax: 423-826-4951
Email: Joe@yourrealtysolutionsteam.com

06
Mar

I recently ran across a number of commercial real estate related articles written by Brian E. Bell, an Australian real estate agent. I think the information he provides is factual and worthy of re-publishing on my website. This is the first of two article that address a few of the things a would-be commercial real estate investor should be aware of as he or she contemplates making a significant real estate investment. I hope you find it informative.
— Joe

Many of the world’s top billionaires today found their fortune and success in real estate investments. They were able to grow their companies and their money substantially through their various property investments and land development project.

Real estate investments, whether commercial or residential, can really be the key to amassing fortune and wealth. Unfortunately, not all people will succeed in this cut-throat and highly volatile industry. However, with the right information, education, training and tips, interested and first time property investors can find success in this lucrative market.

Knowing and following certain tried-and-tested but not too popular commercial property investment tips can help first time investors find success in their first undertaking in the real estate business. These tips are shared by and vouched for by seasoned commercial real estate investors. Some of these helpful and effective investment tips are the following:

• Take your time with the whole commercial property investment process. Generally, commercial deals take longer than residential investments. This is because they take longer to purchase and get sold. You need to bear this important fact in mind so that you don’t get impatient or rush into a bad decision. As a general tip, consider commercial deals as big bonuses or your retirement vehicle and not a way to get quick regular cash to pay the bills.

• Go big. If you need commercial financing to buy a 5-unit apartment, which is already a hassle, go big and invest in properties with at least 10 units. Seasoned real estate consultants say that the more units you buy, the cheaper they are per unit. In time, you will also find that getting a bigger property with more units wouldn’t be as hard as managing a smaller one.

• Don’t immediately invest in an apartment. Consider the other types of commercial property as well, such as office buildings, industrial, mobile home parks, and land properties. Weigh the pros and cons of owning and managing all of these property types and choose your own niche based on whatever you think (and feel) will help you reach your personal goals, irrespective of your comfort zone.

• Lastly, find good financing in due time. Commercial loans are also different from residential loans. Many finance experts say that they are in some ways better. The down payments required usually have a higher percentage than loans on residential properties. This means you’ll have to put more down money for this investment. However, there is often no personal liability if a deal goes awry and you will find that banks or lending institutions are more lenient about letting you borrow the down payment money from someone else. But before making any offers, find out who the best lenders are in your area to use when buying commercial properties, since this will spell the big difference between qualifying for a loan or not.

Read more informative and useful articles about commercial real estate investment and management on http://www.perthcommercialproperty.com.au/.

Article Source: http://EzineArticles.com/?expert=Brian_E_Bell

 

Contact Information

Joe Pleva, Director
Keller Williams®
202 Manufacturers Road
Chattanooga, TN 37405

Mobile: 423-667-6204
Office: 423-664-1550
Fax: 423-826-4951

17
Feb

I’ve always been pretty good at spelling — maybe not great, but probably average or better. And, I think we’d all agree that spelling is an important tool that should be mastered by everyone striving to be successful in modern society.

With that thought in mind, I recently ran across a vivid demonstration of how our mind works as we read. Although it doesn’t specifically relate to Chattanooga real estate, I thought you’d enjoy reading it.

Believe it or not you can read it:

I cdnuolt blveiee taht I cluod aulaclty uesdnatnrd waht I was rdanieg The phaonmneal pweor of the hmuan mnid Aoccdrnig to rscheearch taem at Cmabrigde Uinervtisy, it deosn’t mttaer in waht oredr the ltteers in a wrod are, the olny iprmoatnt tihng is taht the frist and lsat ltteer be in the rghit pclae. The rset can be a taotl mses and you can sitll raed it wouthit a porbelm. Tihs is bcuseae the huamn mnid deos not raed ervey lteter by istlef, but the wrod as a wlohe. Such a cdonition is arppoiately cllaed Typoglycemia :)-

Amzanig huh?  Yaeh and yuo awlyas thought slpeling was ipmorantt
 
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Did you find this interesting? If so, please feel free to pass it along to friends and family…and have a great day!

 

Contact Information

Joe Pleva, Director
Keller Williams®
202 Manufacturers Road
Chattanooga, TN 37405

Mobile: 423-667-6204
Office: 423-664-1550
Fax: 423-826-4951

Learn why Joe Pleva is a top-performing realtor. Click here to watch a short video.

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