Results for category "US Real Estate"

What Property Managers Think About Home Warranty

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We have asked some of our property manager to provide us with their opinion on home warranty companies/service.

Their opinions are expressed here.

The opinions are should not use as an advice on what you should or should not do when it comes to home warranty – You can be the judge of it.

 

Home warranty companies differ greatly.

 

Some are better than others, but overall then aren’t good for property manger’s and owners.

 

We want to service our tenants.

 

If your AC breaks down and its 90 degrees you want service within a reasonable time frame.

 

HW’s wont come for days and when they come out the repair isn’t covered.

 

Happy tenants are long term tenant’s.

 

My job is to save the owner money.

 

I recommend preemptive. maintenance, service the HVAC system every 12 months, make the tenants change AC filter, etc.

 

Plus I have a construction background as should any PM.

 

I know what things cost to repair.

 

Our vendors understand that we work for owner and they need to do cost effective repairs, guarantee the work and provide prompt services to maintain our relationship….Do you think their repair people guarantee the work and work for a 60.00 co-pay. I think not!

 

Home warranty’s are good for homeowners

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Where is America moving? 2013 Migration Patterns

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Atlas Van Lines hold an annual analysis on migration patterns.

The 2013 data was released and you can view this info here or on Atlas Van Lines website.

 2013 Migration Patterns By Atlas Van Lines

As reported on Atlas Van Lines website:

“Where is America moving?

Since January 1993, Atlas Van Lines has reviewed and released data on the origins and destinations of interstate (or between states) moves throughout the previous calendar year. The 2013 Migration Patterns study results provide a snapshot of relocation patterns and this year, the majority of the country achieved a balance between inbound and outbound moves while the total number of moves increased six percent from 2012.

Similar to last year, the highest number of moves occurred in California, Texas and Florida. Regional trends show the most significant changes occurred in the Northern and Western states while the Southern and Midwestern states saw very little change.

Other migration trends:

Northern States

The Northern states underwent major change from 2012 to 2013. Pennsylvania went from being a balanced state to outbound; Vermont and West Virginia both went from being outbound states to balanced; and Delaware went from being balanced to outbound. Washington DC remains as the only northern location to be inbound for 11 consecutive years.

Southern States

The Southern states saw no change from 2012 to 2013. The majority of the Southeast and Mid-Atlantic states remain balanced with the exception of Tennessee and North Carolina, which both remain inbound states. All of the Southwest states remain balanced in 2013 excluding inbound Texas.

Midwestern States

Mirroring last year’s data, Illinois, Indiana, Ohio, Minnesota and Nebraska remained outbound while Kansas, Missouri, Michigan, Wisconsin and Iowa remained balanced. North Dakota remained inbound. No Midwestern state has been classified as inbound for more than 10 consecutive years.

Western States

The Western states also experienced significant change since 2012, particularly with Montana and Idaho shifting from balanced to inbound states. Additionally, Washington went from inbound to balanced, leaving the majority of the Western Unites States balanced.

Canadian Provinces

Five of the 10 provinces remain outbound – British Columbia, Manitoba, Nova Scotia, Ontario and Saskatchewan. Having moved to inbound in 2012, New Brunswick is back to being balanced. Another noteworthy change is that Quebec went from being balanced to outbound. Two territories – Nunavut and Yukon Territory – are unclassified, while the third territory – Northwest Territory – is outbound.

How is a state classified?

Each state/province has a threshold value, which is the total number of shipments multiplied by 0.55 (for example, in a state with 100 moves, at least 55 of them would have to be outgoing to classify the state as outbound). A state/province is considered:

  • Outbound when outbound shipments exceed the threshold.
  • Inbound when inbound shipments exceed the threshold.

Getting Ready For Closing – Next Steps

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Now that an offer was submitted and accepted, the agent had visited the property to make sure everything is ok, the next steps are:
  1. If you have not done so already the agent will provide you with instruction to send the earnest money (deposit) for the purchase.
  2. The agent will schedule and inspection by a license inspector. You’ll need to pay for it – the agent will provide instructions.
  3. Once inspection is done, and it may require some additional negation w/ the seller, you are going to start the loan process. Part of it will be to send an appraisal over (the agent and the lender will coordinate) to make sure the house apprises for the asking price.
  4. Once appraisal is done the an escrow account will be open and the title company will order title search to make sure you are buying the house w/o any title issues.
  5. A closing date is set: by that time you will need to make sure you have ALL the funds ready for the down-payment + closing cost, for example:
    1. Earnest money: $3000
    2. Down-payment (20%): $26,000
    3. Closing and mortgage costs: $3500
      1. TOTAL: $32,500
    4. Few notes/additions:
      1. Lender may suggest you pay in advance for 6 months or 1 year the insurance and property taxes (another ~$3000) in exchange for a lower interest rate. If you have it we suggest you do so as you are anyway going to pay this over the coming year.
      2. As the agent suggested you will have $2,000-$5,000 in repairs after closing (amount will be different from one house to another).
      3. Simply Do It invoice will be issued after you close.
  6. Just before closing you will need to sign a property management agreement
  7. Just before closing we will send you an IMPORTANT video to make sure you know in advance about being an owner when working with property manager/s – CRITICAL TO WATCH!
  8. From now till closing make sure you are pro-active with the lender and are ready financially.
Prep For Closing Day
  1. Make sure funds are ready
  2. You will need to sign purchase documents using a notary. Notary can come to your hose (called mobile notary) or you can find one in a nearby title company and most UPS stores (you just need to call in advance to make sure a notary is available).
  3. Your funds for closing will need to be wired (no regular checks).  Makes sure your account is set for wiring large amounts.
  4. MAKE SURE YOUR NAME/S ON AGREEMENTS AND CONTRACTS MATCH NAME ON YOUR DRIVER LICENSE SO THE NOTARY CAN APPROVE YOU AND YOUR SIGNATURE W/O ANY HICCUPS.

Good luck,

Simply Do It Team

Self-Directed IRAs and Real Estate – Important to Know When Selecting a Self Directed IRA

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This article was put together with some of our actual investors based on their experience.

Q: Why did you set up a self-directed IRA (SDIRA)?

A: I had a 401k plan while I was working. That account was limited to investing in mutual funds, but I wanted to be able to buy rental real estate. A self-directed IRA permits investing in many types of “alternative investments”, including rental real estate.

Q: How did you set up the IRA?

A: When I retired I decided to first move (rollover) the money from current holder to an IRA account at another company  I was concerned that the current one would be more difficult to work with than the new one when I was ready to transfer to the self-directed IRA. For me this was a stepping stone towards my goal. After the self-directed IRA account was opened, I was easily able to transfer funds from the new company IRA to the self-directed IRA. Read More →

2012 November Newsletter: Flip Example, Upcoming Events, Featured Property and Persoanl Note

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A Personal Note from Dani

We are entering my favorite time of the year. Gathering with family and friends and focusing on gratitude is a very happy activity. I started Simply Do It Real Estate Investment with the goal of connecting real estate investors with competent teams around the US and bringing investors outstanding investment deals. I feel very grateful and blessed now that I’m able to help my investors accomplish exactly that.  Our network includes over 10,000 people from Europe, Canada, Australia and many parts of the USA.

Those of you who know me a little better also know that my spouse and I had our first child this summer and it is an amazing experience. Nothing like a newborn to make you appreciate and enjoy life (and sleep).

I would like to take this opportunity and thank all of you who are part of our network. Those of you who already stepped into investing and own one or more properties, I am grateful to have worked with you.

Please don’t keep us a secret, tell people about us and share the wealth of Real Estate Investment Made Simple with your loved ones.

Whishing you a Happy Thanksgiving and looking forward to seeing you at our next meeting and seminar.

Sincerely,
Dani Beit-Or, CEO
Simply Do It
Real Estate Investing Made Easy

Buy a house for $50,000 and sell it within 4 months for over $600,000!

Can you imagine a profit of over 400% within only a few months? This is what one of our investors is going to make in just a few months! Dani told us all about it in his mind boggling talk on Fix and Flip Buying at Auction at our last week’s November meeting in Mountain View.

If you missed the meeting, click on the link to watch it or, even better, sign-up for our upcoming webinar on Monday, November 19, 2012, 6:30 PM:
Remote Fix & Flips and Auction vs Open Market Purchase (http://tinyurl.com/b4wzj8h)!This webinar will focus on the pros and cons of purchasing properties at Auction instead of through Open Market with a special emphasis on handling it all remotely.

Investment Property Spotlight

Park Row Street McKinney, TX 75070
3 Bdr, 2 Bath, 1534 sqf, 1995 year built,  Single Family 

Purchase Price:  $129,500
Downpayment:  $ 25,900
Closing costs:   $7,000 (includes mortgeg fees and fixup costs)
Rent   $ 1,250
Projected NET ROI     19%

For more details and a financial analysishttp://tinyurl.com/cezln3q
Our properties Website gets updated frequently check it outwww.connectrei.com.

Contact Rina or Dani if this or another property interests you, these properties disappear fast so act now!


Would you like to know how other investors successfully do it?

Come to our very special end of the year 2012 Deal Of The Year Award Meeting & Networking on Thursday, December 6, 2012, 7:15 PM. Sign up at: http://bit.ly/IGw44A.

Learn how others are investing, see their transactions’ DNA, and most importantly where the profit areas are found. The Year-end meeting is a great opportunity to learn from others and to get to know other investors.
An award will be given to the best deal of the year! It is not too late. You can still submit your application and win the award(http://tinyurl.com/bzeska8)!

Would you like to step into real estate investing in 2013 or sooner?

Getting started in Real Estate Investing can be a daunting task. The mission at Simply Do It is to empower individuals, like you, to safely and realistically learn how to invest! To get started, contact Rina to schedule your own 30 minute, one-on-one strategy session with Dani Beit-Or in our Cupertino office, through Skype, or on the phone.

Oct. 2012 Newsletter: Case Study, Market Updates, Expo, Meetings, Questions You Should & More

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SPEAKING IN LOS ANGELES:

“Learn to Net $10,000 Per Month in Just 12 Years”

Join me and other educators and investors for a Halloween special real estate expo.

Saturday 10/27 9 AM – 4 PM, Woodland Hills CA

REGISTER for your free attendance (http://bit.ly/REIExpoLA)

MARKETS UPDATES

You may have noticed that many markets around the country are heating up. This is no surprise. When you have: low inventory (Builders have not built new homes for few years!), low interest rate, a strong recovery feeling, and low housing-prices; there’s only one thing that can happen: Demand is going up.

With demand going up; prices will, and are following as we can see in many markets around the country.

How is this situation affecting you?

If you are trying to decide whether to invest or not, maybe you should stop thinking and start doing. Properties in many markets are not getting cheaper.  Read More →

Introducing Asset Management Expertise (AME) Services

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Welcome, we have extended this message as we want to personally invite you to one of our newly added services. We have listened to our customers, and have heard you speak as real estate investors, owners of rental properties, and multi-property owners of many of the difficulties of your daily routines. If you have any difficulties in your work, then read on….

We wish to introduce to you the Asset Management Expertise Service!!! This is here to help with all of your investment properties.

I don’t need to tell you how much time it takes to invest in real estate, or the amount of energy it takes to protect your investment. You already know the value of a great property manager in managing your rental properties. This leaves you to supervise your property manager, and this time takes away from you making more money on the next deal.  Read More →