Technology for Landlords

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Landlord real estate technologyI’m always on the lookout to ways to improve my real estate property management business through the use of technology. Here are you some of the technologies that I’m using to manage properties, stay in touch with tenants, real estate owners, and other in the real estate field.

Below is a list of the technologies that I’m using. I will go into each one of these in more detail in future post. Continue reading

Investors Now’s The Time

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Here is a piece that I wrote for homebuyersearchaz.com. It gives insight in what sellers are thinking now as they contemplate selling their homes.

In the Mesa Arizona real estate market for 2011 we can make a few assumptions that I think most people will agree with.

  • Mortgage rates will probably increase slightly
  • Home prices will stay flat
  • The housing market will not be hot for some time.

So it is clear to see that it is still very much a buyers market and will be so for 2011. So looking for a house right now makes perfect scenes.

You may ask why would anyone want to sell?

There are two primary reasons: First, the seller is distressed and must sell & second, reason is to avoid being distressed.

Today’s buyers are much more demanding, demanding lower prices and better conditions. In the past we could just put the house on the market and it would sell, but that doesn’t work today.

There are 3 possible scenarios for selling your home in Mesa Arizona and the surrounding market they are; aggressive selling the first 90-days, moderate six to nine months and then patient a year or longer.

Selling your home is 2011 requires more planning than has been required in the past and it also requires that homes be in better condition for top price. It will also require that you get more creative, such as offer 6 months of prepared HOA fees.

What ever your reason for selling now is the time to begin marketing you property, but be prepared to wait.

My Story Property Management Story.

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Property Management Story and MistakeFrom time to time I’ve been asked how did you get started in property management and do you like it?

The last part of the question, “do you like it” is fairly easy to answer. YES As with anything there are things you like and things you don’t. There are more things about the job that I love than I hate and that is why I continue to do it.

To the first part of the question, “how did you get started”. Continue reading

What To Look For When Buying An Investment

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Long  Term

  1. Find: Select ideal neighborhoods, attract sellers and find houses with investment potential.
  2. Analyze: Identify which, if any, improvements to make and analyze the profit potential of any house.
  3. Analyze Cash Flow: Obtain mortgage information, vacancy rates, taxes, HOA (if applicable), and budget for maintenance/repair issues versus average rental prices for similar properties.
  4. Buy: Arrange financing, present the offer and close on the purchase.
  5. Fix: Fix any necessary repairs prior to finding tenants. Keep in mind, not all repairs have to be top of the line (and in many cases, may not be ideal for tenants).
  6. Rent: Find qualified tenants to generate positive cash flow.

This is a good list but I would add one thing to this when looking for real estate investment in Mesa and Phoenix Arizona. Look for a good property manager who knows the area. A good property manager can look at a property and tell you if it is good or bad.

Who do you consult when purchasing an investment property