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5 Steps to Easily Make Money in Real Estate

 

You too, can become one of those people that relaxes while money flow streams in. How? Real estate investing. I'm sure you've considered it before but weren't sure of where to even begin - well, we're here to break it down for you. With years in the industry, we have the experience and knowledge to lead you in the right direction.

  1. Buy the Property

    Finding the right property will take time but once you find it (with our help) the money will begin to flow in. You'll have to choose a property that will generate income by considering factors such as maintenance costs, insurance costs, etc. We can help walk you through step by step. If you're not real estate investment world, we'd recommend finding a turn-key rental property. This way, you won't have the added costs of a flip and will have to do the least amount of hard labor. Even if you have the money, time, and reliable contractors - flipping can be too much for most first time investors.
     
  2. Hire a Property Manager
    This step is, of course, optional. If you have the time and knowledge to manager your own property, you'll keep more of your residual income. If not, it is definitely worth investing in a trusted property manager. They'll handle rent collection, maintenance orders, and deal with tenants on your behalf. You'll have to decide for yourself if the cost outweighs the headache but most people go this route since it can become time consuming to do this yourself.
     
  3.  Get a Partner
    Relax, we're not trying to set you up like Aunt Laurie. We're talking about a real estate investment partner. Not only will it give you fresh ideas and new perspectives but you won't bear all the weight of the financial responsibility. 
     
  4. Invest in Real Estate Investment Trusts
    If you have the funds for large investments like, multiple homes, malls, apartment complexes, etc then you should look into REITs. They purchase large real estate investments and you have the security of knowing they are legally required to allocate 90% of its dividends to their investors every year. On the flipside, however, these dividends are taxed as ordinary income, which can be an issue if you are in a higher bracket.
     
  5. Keep Buying
    Hey, the saying holds true: "It takes money to make money". If you really want to become a successful real estate investor then you'll have to continue to buy more properties. Not only will your returns increase but once you have a credible name in the industry, it will be easier to find new properties.

 

Walk Through Like a Pro!

So, you've scheduled a showing and are heading to do a walk through of your potential home. Don't just breeze through it. Really take the time to see the home in all it's entirety. We've compiled a list to help ease you through the process.

  1. Don't Skip
    Really walk through the entire home to get a feel for the layout. Do you see yourself living there as is? Or will you need to change a few things? Make sure none of your non-negotiables are missing. You don't want to buy a house and then realize you barely have any storage space.
     
  2. Look Down
    Make sure to really inspect the floors. If it's hardwood, is it finished properly? Will you need to revive them? If there's carpet, would it need to be removed? What kind of floor is underneath?
     
  3. Look for Leaks
    Make sure to check the walls, under sinks, in the basement ceilings, and under windows for water stains or spills. A small amount is manageable but anything more will just be headache. If you do find leaks, we'd recommend doing mold testing and searching for foundation cracks.
     
  4. Locate Utility Units
    Things like the furnace, hot water heater, AC unit, etc. Make sure to check the tags for he date. Your inspector will be able to help you determine the shelf life.
     
  5.  Appliances
    Are the sellers offering the appliances? If so, test them. Make sure that everything is not only working but up to code.
     
  6. Look Outside
    It would be a good idea to walk around the home. The exterior can show anything from structural problems to wear and tear in the windows, doors, etc.

If you miss any of these, don't beat yourself up. If this is the home you've set your mind on, your inspection will find flaws that the untrained eye can't.

Call us today & let us help you find your dream home!

Don't Wait Until Spring - Sell Your Home Now!

I'm sure you've heard from several people how much better it would be to sell your home in the Spring/Summer but is it really? I think we subconsciously believe that when the weather is "better" we can get a better price, As if like the flowers blooming in the spring, buyers will just sprout up everywhere we look as soon as the snow melts.  How true is this theory?

Not very true at all! There are a lot of solid reasons why listing your house in the winter, rather than waiting for spring. Of course everyone’s situation is different, and an experienced real estate agent in your area can give you the best advice, but here are a few things to consider when deciding when to list your home for sale. (And if you don’t have a choice and have to list it in the winter, hopefully these facts will help set your mind at ease!)

1. Less Competition

Fewer people tend to list their homes during the winter months, but don't let this deter you! This means that your home has a better chance of standing out, as there will be fewer competing listings. Wouldn’t you rather be the only home for sale in your neighborhood, than have three of your neighbors also selling at the same time?

2. Motivated Buyers

It takes a little more motivation to bundle up and go look at houses when the weather gets cold. Think about having to pack and move during a snow storm. The fact that someone would want to house shop during one of the busiest times of year should let you know that these buyers are ready to make an offer. The curious neighbors or “we’d like to buy a house in the next year…or two” buyers are not as likely to be making the rounds. 

One of the reasons you will find more motivated buyers during the winter is that January is when many companies do corporate relocations. Someone who is being moved because of a job is not going to have the luxury to leisurely shop for houses for three months. Similarly, because many families with kids prefer to move over summer break, those who are moving in the middle of the year are more likely doing so because they are on a timeline.

3. Loans may be processed quicker

Because the housing inventory is generally smaller during the winter, lenders are less busy. This means that when your buyers are ready to go under contract, they can get their financing ready to go that much faster, and everyone can make it to closing quicker.

4. Homes listed in winter sell faster and for more money

Contrary to popular belief, homes listed for sale in the winter sold faster (by an average of one week), were 9% more likely to sell within six months, and sold for 1.1% more money relative to list price. The benefits of selling in the winter were true both for markets with very cold climates (Chicago and Boston) as well as markets like Durham, NC, with warmer climates.

There are obviously many unique factors that go into the decision of when to list your home for sale, but if you are considering listing in the winter, or circumstances have forced you to list in the winter regardless, you should keep these things in mind as you weigh the pros and cons of listing now versus waiting until the spring.

 

Happy Holidays from Inside Realty!

We have been decorating all week in preparation for this week's office holiday party and wanted to take a moment to wish you happy holidays from our family (including those missing from the photo below) to yours!

Why does one of us look concerned? Well, Frosty just heard about the hot chocolate bar we're setting up (don't worry, there will plenty of frozen drinks for him to enjoy).

Cheap & Cheerful for the Holidays!

We are decorating here at the office and thought it might be helpful to give you little tips and tricks to make your homes just as festive! Hanukkah is already upon us and Christmas will be here in the blink of an eye (not to mention all of the other holidays this time of year). We hope this list will take a little stress out and bring joy into prepping for the holidays.


1. Put up a tree.

Whether it's a Christmas tree, New Years Tree, or something in-between, this is one of the quickest and easiest ways to spruce up your home for the holidays. It can be big, small, silver, gold, made of paper, or a Charlie Brown Christmas tree. Contrary to popular belief, most holiday decor sales begin before the 25th so you can still save big on lights and ornaments even before the holiday has passed. The budget still too tight? There are plenty of DIY ornament ideas on Pinterest of things you can make yourself and save big!

2. Don't Be Brief, Hang a Wreath!

Everything will come together with a wreath whether it's outside or inside, it can bring a little pizzaz to your home. This is something you can easily DIY yourself with a trip to the local fabric store or even bring in a bit of your natural side with items like pine cones from your backyard. You don't have to spend a lot to bring the cheerful spirit into your home. 

3. Light it Up.

Lighting can really set the tone for cozy winter vibes. Lighting a candle or a group of candles in some holiday decor can really bring your holiday decorations to the next level. Candles look great as centerpieces on tables, vignettes & on any piece of furniture in your home. You can even mix and match scents to really spice up the home with the scent of their favorite childhood holiday memories. Use candles you already have around the house & surround them with some holiday elements to create the perfect centerpiece that didn’t cost you a penny.

4. Set the Mood.

Adding cozy blankets & holiday pillows with pops of gold, green, red, or any other fun holiday colors is a great way to add warmth to your everyday home decor. Plaids, Christmas patterns, holiday colors, & even DIYing a Christmas themed pillow is the perfect way to bring the cozy decor in your home. 

5. Wrap Battle.

Get the family or your friends together early and have a gift wrapping party. Think about the homes you went to for the holidays with the big tree with presents scattered around and giant bows - didn't it just make you feel the holiday spirit? Even if you haven't finished all of your holiday shopping (guilty!), you can grab some faux boxes to place  on your mantle or under the tree until Santa brings the real ones. 


6. Channel Your Inner Martha Stewart.

You might not be throwing a huge Christmas party at your house this holiday season, but by adding some holiday decor to your dining room, you can really turn every meal you and your family have into a festive feast. By simply adding a centerpiece of candles & some greenery or any holiday centerpiece of your choice, your dining room instantly screams yuletide cheer! Remember it doesn’t have to cost a lot to be beautiful. 

8. Create a Cookie Bar.

Or hot chocolate bar or any other kind of festive bar. Creating a quick and easy hot chocolate bar or drink bar is a great way to make your home instantly ready for a holiday party. Again, this doesn’t have to cost a lot & you can just use things you already have like coffee cups, straws, hot chocolate, marshmallows, & other utensils. In minutes, you can bring your holiday decor & parties from drab to fab with a lovely hot chocolate bar that everyone will be talking about.

Monthly Training Webinar.

Today we attended:

Begin Leveraging Your TransactionDesk® Tool Set to Manage Your Transactions Electronically and Online - December 11, 2017

In this webinar, a Realcomp trainer demonstrated how to manage transactions online with the TransactionDesk®program that’s provided with a Realcomp MLS subscription.

They showed how this tool can help to …

  1. Keep all important documents associated with your listing in one secure and convenient place;
  2. Document and track action items associated with your listing so no important task “falls through the cracks”;
  3. Facilitate electronic signings of contracts;
  4. Provide updates to clients;
  5. Archive and store all documents for your customers electronically; and more!

Date: Monday, December 11, 2017

Time: 1:15 pm – 4:00 PM (2 hours, 45 minutes long)

 

Don't Scare Away Potential Home Buyers!

So, you're ready to sell your home and you've put the time and money into restoring it to it's rightful glory; you're done, right? WRONG. There are a few things that have the potential of scaring off the right homebuyer that you might not even be considering. We've compiled a list below to make things easier on you.

1. Pets
Have you ever heard the saying, "a face only a mother could love"? That doesn't just apply to humans. As much as you love Bruno, the Pitbull, potential homebuyers might not. Imagine walking into tour a home and all you can smell is the animal's scent. Would you be able to envision your life there if all you're thinking about is when's the last time the *insert animal here* had a bath? Even if you keep your pets well groomed, no one wants to be chased around by a pet while shopping.

2. Hunting Trophies
The avoid animals in the home advice goes for dead ones as well. In our political climate, it's best to avoid offending anyone. Keep those tucked away until you're in your new home.

3. Flags
You may be from the South but we can almost guarantee your Confederate battle flag is not going to go over well with most sellers. Immediately their focus is going to go from seeing themselves in your new home and thinking about what kind of people lived in it before. 

4. Sport Memorabilia
Sure, you can't imagine anyone NOT wanting a room filled with Lions gear but if the potential home buyer is rooting for another team, it will leave a poor impression of your home. No one wants to walk into a home that has someone else written all over it.

5. Nudity
Yes, I get it - Americans are prude compared to the French "blah blah blah". The fact of the matter is nudity will make potential homebuyers uncomfortable.Shock value is not going to help sell your home.

6. Hidden Rooms
If you were looking to buy a home would be interested in one that didn't let you tour the entire house? No room should be left locked and buyers will not be sure what to think if you don't let them see what's behind door number three.

7. Drugs
This should go without saying but even with new laws, home buyers do not want to see or smell your federally illegal substance. 

Selling Your Home? Leave It As Is!

Well, sort of. We are by no means saying, do nothing but it's easy to get caught up in the idea of all the things wrong with your home when you're about to list. However, not everything needs to redone. Avoid the "while we're at it" attitude. It will cost you not only time but more importantly, money, that you could be spending on renovating YOUR new home.

Your goal is to find a happy medium between spending the least and netting the most from any potential buyers. The home should read as nice, new(er), neutral, and filled with necessity. If you're unsure what's included in those four qualifiers? We've compiled a list of things you don't have to waste your energy on below:

  1. Don't Compete
    The old saying, "the grass is always greener on the other side", seems to effect us all from time to time. For example, if everyone in your neighborhood has a fitted kitchen and a master bath, you may need to make improvements but if most of them don't, then you don't need to worry about them. Realtors will always check comps in the area for you but if those homes aren't even for sale and it's only 1 or 2, you have nothing to worry about. The most important thing is to be practical in your renovation.
     
  2. Don't Sweat the Small Stuff
    What's the first thing people see when they enter your home? The entry and main living areas are what buyers pay the most attention to. Don't worry about things like the laundry room. For these "bonus" rooms, a good cleaning is usually enough. Buyers will customize these as they see fit.
     
  3. Is It Irreparable or Just Dirty?
    Could your shower really just use a deep clean and re-caulking? A power clean can bring life back to old tiles, appliances, etc. Hire a professional cleaning crew first before you decide to go ahead with expensive tile replacements or even bigger projects.
     
  4. Revive Not Replace.
    Rather than replacing baseboards, trim, tiles, an old fireplace, etc simply revive them by adding embellishments or a new coat of paint. You would be amazed by the results a new coat of paint can get you!
     
  5. Stage
    If you feel your home is too simple, just add coffee table books or raised displays to play up the minimal appearance of the home.
     
  6. Don't Overanalyze
    A lot of times sellers can get overzealous about what potential buyers want. If the improvement is as subtle as simply putting in solid wood doors opposed to hollow doors, don't waste your time. Most buyers won't even notice the change.
     
  7. No Fancy Drapes
    Buyers will not be impressed because you purchased a lavish new drape. To envision themselves in the home, you should keep things simple with plain, some shade of white blinds. If it's too much of you all over the home, it will be hard for them to envision themselves in the space.
     
  8. Don't Replace Appliances
    This will vary by market but overall, it will not add to your gain if you buy the new appliances for them. If they have the option of replacing them with what they want, they will be happier in the long run.

For more tips and tricks, call one of our experienced agents today!

 

5 Star Kennel For Sale!

Have you always dreamed of owning your own kennel? Well, let's make that dream a reality! Brady's Kennels is selling their thriving business.

  • SERIOUS BUYERS ONLY.
  • Prospective buyers are to be accompanied by a Michigan Real Estate licensee.
  • Showing agents will be guided through the kennel by an employee. However, the employees cannot answer questions regard business details.
  • 5 Star Google Reviews
  • 11.5 acres of land which includes the business (kennel) as well as a home to live on premises.
  • Established business with loyal clientele.

 

Call Chuck at 248-758-0022 today!

 

30 Ways it Pays to Work with a Realtor

 

  1.  They can check your credit report for you.
  2. You'll have a market expert price your existing home without having to do the research and guesswork yourself.
  3. Determine how much you can afford. Realtors can see the big picture and help you find something within your budget.
  4. They have access to the full market potential and will be able to show your home across many platforms.
  5. They will be able to market and advertise for you. Saving you tons of time AND money.
  6. Host open houses.
  7. Schedule appointments to show the current home and show you your next one.
  8. Find the perfect home with everything you heart desires.
  9. Research the school district. They'll know everything there is to know to put your mind at ease.
  10. Research the neighborhoods. You'll know exactly what you have access to without pending hours finding the information yourself.
  11. Analyze the neighborhood's home sales to price your home properly.
  12. They can make offers on your behalf and are skilled in negotiating with other realtors.
  13. They'll be able to weed through the offers on your current home and present you with the best options.
  14. Review home owners' association documents. Who wants to read through all of that themselves?
  15. Coordinate with the closing lenders, buyers, sellers, and the title company.
  16. Find you the best pest and home inspectors for your home.
  17. Schedule and meet with home and pest inspectors.
  18. Negotiate terms of sale or purchase including repairs or concessions.
  19. If you want, they can even find an attorney to draft the contracts.
  20. Review and approve contracts.
  21. Get signed contract to seller.
  22. Choose your mortgage lender.
  23. Hire attorney or title company to complete closing research.
  24. Hire surveyor to survey property.
  25. Review and approving closing costs.
  26. Obtain homeowners' insurance.
  27. Conduct a final walk through of the home.
  28. Review and sign closing documents.
  29. Get signed contract to seller.
  30. Order title search.

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Inside Realty LLC “Woman Owned & Operated”

Evduza Ramaj Broker/Owner/GRI/SFR/ABR | Nationally Certified (WBENC/WOSB)

 Office - 248-758-0022 | Cell - 586-995-5054

Inside Realty LLC
1877 Orchard Lake Rd, 204
Sylvan lake, MI 48320
United States