The recent housing situation has caused a rise in home foreclosures in some pockets of the US. This is opening the doors for a new wave of real estate property investors. These investors are jumping into the world of property foreclosure looking for quick profits with simple approaches. If you are one of these potential real estate investors, here are some common mistakes discussed by Todd Hill, you should be aware of so you can avoid them.
Being ignorant of the foreclosure process - Don't get caught up in the pitches that will come at you from all directions. Do the homework that you need in order to make an informed decision. In some cases you will need to invest in some resources which will give you the information to make an informed decision so you can realize a profit on your investment. Don't make decisions based on inaccurate evaluations - To realize the profit you're looking for you need to understand home values in order to keep your evaluations in line with the current market conditions. If the number of homes on the market is rising it can indicate the number of buyers is decreasing. When competition for homes decreases your negotiating power increases. Realize foreclosure properties usually need work - These are home that the previous owners knew they were going to lose. They are quite likely in need of maintenance which the previous owner put off for that very reason. In many cases foreclosure properties have items removed which are considered standard inclusions for a home. Things such as faucets, light fixtures etc may be missing. Don't hesitate with your purchase decision - Finding the right opportunity is only the first part. Next you have to be prepared to move quickly because making a profit in property investment hinges on it. There are many other property investors also looking for great opportunities hesitation on the right property could mean you miss out on the best deals. Utilize a network of professionals - You need experts who can assist you in finding properties and evaluating them, exploring financing options and performing services on the property. Not to mention title companies, property inspectors, appraisers just to mention a few. The best way to establish a network quickly is to develop a relationship with a local Realtor. Most Realtors will have an already established network of vendors they have worked with in the past and trust to take care of their clients. Investing in real estate can be profitable in any market when done properly. Understand that the key to any investment is the theory of buy low and sell high. Investors understand that the best opportunities are most often found in markets where sellers are unsure and scared. Volatility creates opportunities for those who understand that markets fluctuate but real estate has always appreciated in value over time. Right now the real estate market is creating excellent opportunities to purchase properties for investment. Investors right now are building their property portfolios with an eye towards the recovery that is to come. Those seeking a home as their personal residence should also be pursuing home ownership now because even principal residences are investments in the future. For more details you can consult with Todd Hill, a real estate entrepreneur that has over two decades of experience in the industry. Todd has over 18 years experience flipping both single family and multifamily residential properties. His expertise is building, remodeling and selling residential real estate. With a background in marketing and real estate development, Todd knows exactly how to bring those high-end finishes to every FLIP. Todd is highly experienced at evaluating and acquiring properties, navigating difficult entitlement and permitting processes, managing infrastructure and project construction as well as directing all marketing and sales programs.
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When considering home remodeling, there are many ideas to select from. Home owners always wish to make adjustments to their home and to make it better in every aspect possible. However this can only come to life if the appropriate funds are available. Any home owner might have a number of ideas to select from but all might not be appropriate. At the end of the day, the real question which must be asked before any home remodeling project is undertaken is what really do you want? How do you wish to transform your home?
Would you like your home to be remodeled into one which looks beautiful both on the outside as well as inside? Would you want it to be a place where you can retreat comfortably after a long days work? Would you like your home to display how wealthy you are or would you simply want it to be a house which fits in with the others? Every home owner is likely to want different areas of their home remodeled and for them, home remodeling would mean something completely different, than it is done to someone else. When given the chance to conduct home remodeling and to achieve your dream house, not everyone is likely to opt for the same thing. Therefore, before opting for home remodeling, you need to consider certain aspects with the help of which you can begin coming up with home remodeling ideas to discuss with your contractor. Every home has a number of individuals living in it. The needs and requirements would be different for each of these people and hence would have to be considered when conducting home remodeling. If you are married and have a wife, for her, home remodeling would consist of having room to entertain her friends and family while at the same time being able to maintain a good home. Most wives also wish to have a proper dining room along with a sitting room as part of remodeling. Then, there are those members of the household who are constantly wishing to have fun and entertainment. They wish to watch movies and listen to music all the time and at times, this passion and addiction is much larger than any available financial budget. For such people, it is absolutely vital for a budget to be allocated for remodeling or else the likelihood of going overboard is very high. By having a budget, perhaps one room of the house could be allocated to entertainment rather than exploring within the entire house. Then, there is that one person at home who wishes to cook and absolutely loves staying in the kitchen all day, coming up with new and delicious recipes. Remodeling for such an individual would consist of having high quality and top grade appliances, cabinets and wall fittings, adequate storage space, running water, a good work station and the list goes on. With the right kind of remodeling planning, this can be made possible. Remodeling ideas have a number of forms and different home owners are likely to have different interests when considering home remodeling. There is a great deal of inspiration which goes into remodeling and the simplest of ideas can be executed into the best remodeling projects, if they are planned correctly. Without taking a chance, nothing is possible so let your imagination run wild whenever you come up with your next remodeling idea. You could just end up with something fantastic and your home would be completely transformed to a little extra imagination. Todd Hill has extensive experience in creating custom new homes, home remodels, and commercial construction and is the owner of Todd Hill Homes, a well established construction company. Todd helps walk home owners through every aspect of a home construction or home renovation project, to ensure peace of mind and satisfaction in craftsmanship. Also read: Considerations for Your Home Remodel Are you having fears of buying properties from Residential Developments? Need not to. Residential developments are the best way nowadays for most people especially for average earners. At the recent times, it is no longer an easy goal to own a home that you yourself built in a raw land. Even rich people prefer to purchase properties from land development areas. For the purpose of having a home, a person essentially does the best options they can just own one. It is a sign of security to the entire family.
Either for rich or for poor, Residential Developments have different kinds of houses built in a land development. The rich ones may purchase a land, hire a builder and build a villa or mansion their family. The poor ones may settle or rent on apartments or flats. You can choose what type of house you want to be built based on your budget. Usually, Residential Developments form like a subdivision or subdivided land development. Housing is made affordable in this manner compared to renting. As a developer, the cost is particularly cheaper as well because the design is uniform and the materials needed in building are bought by bulk. Residential Developments are often advertised showing some information when it comes to land development. You can check details and available features they made based on your needs. However great Residential Developments are, just like any other land development type, there are minor things that can be a problem to some people. You may find that there is only one gate entrance where all residents go in and out of the subdivision. Since the land development area is kind of isolated and is made only for residences, commercial establishment may not be available within. You may still need to get out of the area for that purpose. But, if you look at that factor closely, Residential Developments delivers safety to the entire community. Your subdivision can hire guards and maintenance to make your area safe and always clean. Your kids will be in a good environment where they can play with neighbor kids whom you know. Residential Developments only aim to accommodate everyone with the land development they will build. For the developer's perspective, you should see above all if this specific area you are aiming for, a residential land development, is feasible for that purpose. Do not settle on areas where there is unlikely of a progress even in the near future. On the other hand, you as a consumer should see if the area is conducive for living with your family in a comfortable manner. At Todd Hill Homes we believe that home ownership is still at the very heart of the American dream. As one of the premier home builders in Los Gatos CA, Todd Hill Homes provides new homeowners with quick move-in homes that combine build quality, comfort and enticing pricing incentives. Todd offers top-quality services that let homeowners see their dream house become a reality. For more information on the homes and services offered, visit www.thillhomes.com or call 913-927-0595. It is becoming increasingly difficult for property developers to secure the financing needed for their development projects. Because of this it is becoming increasingly important for developers to turn their attention to those projects which have the highest levels of profitability. Here are some ways suggested by Todd Hill (A Property Developer) that you as a developer can find those opportunities that will give you the highest return on your investment. Will renovation or development costs be overly high? You need to determine whether or not a project will have development costs that are extremely high. It may be that a property needs massive amounts of renovations before it can be resold or rented out. It may also mean that you need to pay for specific licensing or rezoning in order to use the property for the usage that you had intended. Because of this, it may mean that you will not be able to get the return on your investment that you wanted. You do not want your profit margin eaten up with renovation costs or rezoning costs. Will the project be overly time consuming? It is important to know how much time a project is likely to take. While it is not unusual for there to be setbacks or delays with any project but unless you know that you are in for the long haul you may not be able to structure your financing properly. You need to remember that as a project continues, more money will go to paying mortgages or other sources of funding. If a property takes a much longer period of time than you thought you may find that you do not end up with any profit from a project. Do you have the right professionals on your team? It is important that you have the right professionals working for you on a project. You should start by working with experienced real estate agents that can give you an accurate picture of what the market is like in your area. They should be able to work with you and direct you to projects that will give you the return on an investment that you have been looking for. You also want to work with a licensed contractor that can appraise a project and tell you the scope of the work that will be required. They should be able to tell you how long a project is likely to take, keeping in mind that there will often be unknown issues that only arise after a project has begun. It can also be helpful to have a financial advisor that you work with on a regular basis. They will be able to tell you what kind of financing you will be able to secure so that you can move on a particular opportunity once it has come onto the market. By making sure that you have the money you need secured before you enter into real estate negotiations it will make it much easier for you to close those deals that you want as quickly as possible. At Todd Hill Homes we believe that home ownership is still at the very heart of the American dream. As one of the premier home builders in Los Gatos CA, Todd Hill Homes provides new homeowners with quick move-in homes that combine build quality, comfort and enticing pricing incentives. Todd offers top-quality services that let homeowners see their dream house become a reality. For more information on the homes and services offered, visit www.thillhomes.com or call 913-927-0595. It is vital to take real estate developments very seriously. When you are investing money in a piece of land, you must make sure that you carry out the development such that you can ascertain the gains in future. Like various other businesses, it also demands many basic things.
To begin with, analyze and understand your goal completely. This helps in a maintained focus as well as, if you plan to hire some professional to do the development work for you, you will be able to provide them a clear viewpoint only when you yourself know what is to be done. Understanding the fact that whatever will be the resultant product will be responsible or returning your investment with good amount of interest rate, will help in putting forth maximum efforts from your side to get the best out of the land development. To set your objective, ask yourself the questions given below.
While you can develop the land on your own, the catch is still to make others do what you want. Of course you are paying them, but as such if you are not experienced enough to undertake that task, you must hire experts. Additionally they will also tell you the trend of the current market and potentials of the future market, how you can use your land better for developmental purposes and what additional changes can be made to your proposal so as to make it more profitable. Planning is most important. It is a key to achieve your target within a time slot and in a predefined budget. When you execute a plan step by step, you know that nothing is left behind, and you are certain that the functioning is smooth. It also helps in efficient usage of time as every step or level is allotted a time period. This directly affect the budget as more is the time, more will be the money spent. Always remember that the land for development is not for your living purposes, but for selling. So when the ultimate aim is to sell, then know the requirements of the potential buyers. You can do this by keeping yourself updated with the trends of the property. The end product is what the buyer will look at, so how does it look like? What will be the value of the asset? How much profit will you gain after subtracting the minor and major expenditure? Is the profit sufficient? If not, then how can you make more profit from existing land? What will be the trend of property after a certain period of time? It is not that you need to follow the traditional ways to develop the land; you can always experiment, given that you are ready to. So always look beyond the limits. Todd Hill is a real estate entrepreneur that has over two decades of experience in the industry. With a background in marketing and real estate development, Todd knows exactly how to bring those high-end finishes to every FLIP. Todd is highly experienced at evaluating and acquiring properties, navigating difficult entitlement and permitting processes, managing infrastructure and project construction as well as directing all marketing and sales programs. Contact him at [email protected] or call him 913-927-0595. Also read: Construction Blueprints in Real Estate Development by Todd Hill What's crucial about how to remodel a home? How much to remodel a house? House remodelling can be a hard and expensive task. Doubly so, if you're not a tradesman or professional. Your home renovation ideas are very valuable.
But, even small kitchen remodelling ideas will require some fine-tuning. Or, do it yourself bathroom remodelling, for that matter. The full task of designing home reno's and upgrades can easily turn into a nightmare. Let alone the installation. But it doesn't have to be that way. When giving your house a facelift, you can also expect to encounter problems and hazards you had not expected. Nevertheless, if you are determined to take action on your remodelling dream, there are several remodelling mistakes to avoid and to watch out for. It is very helpful to get some home remodelling ideas pictures. After all, a picture is worth a thousand words. Do Only As Much As Your Comfort Level Permits - Not More Like most, you probably have a full-time job. Plus, you have a family. Some days you just can't help sleeping in a couple hours more in the morning. Your home remodelling project has to be planned in accordance with the available time you can spend doing reno tasks. Such tasks include the clean-up after all the remodelling work is done. You should be prepared for a lot of time conflicts, inconvenience and mess. Although it always gets worse before it gets better, here's some remodelling tips to help out. Remodelling | The 4 Biggest & Most Common Mistakes to Avoid Never try to do the entire job at once. Unless of course you can afford to skip going to work during the remodelling process. In case this is not an option for you, do one thing at a time and monitor the way it is going. Getting your renovation done under budget is a science. Rare are people who have the good fortune of coming in under budget. It's an art, few masters. There are many ways to achieve it however. Often better than cheapening-out, is controlling waste. It is important to curtail waste with both materials and labor. If you are one of the fortunate few, why not invest in professional after build cleaning to accentuate the results of your great work? It saves you precious time. Alternatively, you can recruit family members. Get them to help you remove post construction debris, clean and polish. Just buy a cute present for each one afterwards. Inflating Your Remodelling Budget Endless are the number of building projects that have collapsed due to wrong cost and budget calculations. Whether you want to replace just a few old doors with new ones, or build a playroom for your children, your undertaking could end in failure. If your financial strategy is properly managed and sound, flopping will become less likely. Before you start, ensure you have the financial comfort level to be able to adjust your budget. It is not uncommon to have 10 or 20 percent overburden. Having a contingency figured into the numbers is a great way to ensure that no such fiasco is probable in your case. However due to financial constraints, not everybody is able to do that. It is critical therefore to do your pricing homework thoroughly, in advance. Utilize a remodelling cost estimator or similar tool for both materials and labor. Mind The Remodelling Hand Tools If "this old house" remodelling is not your first DIY project, then you probably already have some of the essential tools common in every household. Those who are just starting, have to keep in mind that high quality tools can turn out to be more expensive than you expected. Before jumping headlong into the remodelling work, make sure you are well prepared to use these tools safely and efficiently. Proficiency is a superior choice to taking the risk of ruining the fancy materials you bought for the remodelling project. Cracking or scratching a couple of the hardwood flooring panels for the entryway for example, is a mistake that will cost you additional percentage points within your allocated budget. Inexperience in the end, will force you to either buy new materials or at the very least, cause the need for a professional refurbishing solution to get rid of the blemishes and blunders. All this costs money. Inaccurate Renovation Measurements Being careful with measurements is essential. Good measuring skill is imperative when it comes to choosing and handling the materials for your remodelling project. In the event you've taken wrong measurements, the remodelling work will certainly become a stress-filled nightmare. The clean-line design you desired will remain just a dream, not the reality. Messing up the measuring on a remodelling project will only serve to make you regret that you even thought about face-lifting your house, let alone doing it. To provide your home with the image you really want, "measuring twice and cutting once" may not be enough. Repeat the measuring task a few times. Such a practice assures comfort and confidence. If no other reasons, do it for the sake of all the efforts you already put forward on your house reno aspirations. The other old adage, "an ounce of prevention is worth a pound of cure," really applies here. Get Proper Home Reno Ideas and Help Last, but certainly not least, get helpers that you don't have to babysit. The home renovation process is stressful enough, without having to hand-hold others. Or worse yet, having a helper mess up royally. Remodelling a home requires skilled design-work in advance of the actual demolition and construction. It is critical therefore that you solicit a skilled renovation designer to go over your home remodelling ideas and assemble them onto a set of renovation plans. A skilled designer will also be able to supply you with some great ideas for remodelling your home. He'll be able to give you the contact information of some reputable home remodelling contractors. Or maybe, he will simply recommend free remodelling software should you decide to go it alone. It's your money, so mind it closely. Remember, if you are going to tackle this sort of undertaking on your own, don't turn a home remodelling project over to inexperienced hands. You'll live to regret it for a long time to come. Although do it yourself remodelling can be fun, it can also be challenging. As such it's paramount to be able to recognize when you are in over your head. Some aspects of your home renovation project are best served being done by remodelling contractors local. It holds true that there is no substitute for skill, training and experience when it comes to home renovations, large or small. Mr. Todd Hill is a real estate entrepreneur that has over 18 years experience flipping both single family and multifamily residential properties. His expertise is in building, remodeling and selling residential real estate. With a background in marketing and real estate development, Todd knows exactly how to bring those high-end finishes to every FLIP. Todd is highly experienced at evaluating and acquiring properties, navigating difficult entitlement and permitting processes, managing infrastructure and project construction as well as directing all marketing and sales programs. Contact him at [email protected] or call him at 913-927-0595. Also visit here: http://toddhillutah.simplesite.com/ Anyone looking into wholesale real estate will want to pick up a few house flipping tips to keep their costs down and profits high. In the house flipping game it's all about how you set your budget and the final selling price of the home. So, with the aims of keeping you, the real estate investor, within budget here are several house flipping tips by Todd Hill (A Real Estate Developer) towards success.
1) Choose the Right Property It's possible to be so eager to get into wholesaling property that you buy the first cheap house you can find. House flipping is about more than buying a cheap house. It's about finding the right cheap house. You want a property that is structurally sound, but needs a lot of cosmetic repairs. This way it won't cost you a lot of money to invest in that property, fix it up and you'll still be able to sell it at close to current market value. Another house flipping tip to keep in mind here is to make sure you get a home inspector to look over the property you'll be signing papers on. A home inspection can ensure that the property is structurally sound before you buy. 2) Look for Homes Needing Cosmetic Repairs This was touched on by the first of the house flipping tips, but warrants further explanation. You'll want to seek out wholesaling property that is in need of yard work and a good coat of paint. These are the kinds of repairs that a homeowner doesn't want to do themselves, when moving out or moving in. Yet, they can greatly increase or decrease the value of a property. Plus, new paint on the exterior, fresh paint on the interior and some yard work are all investments that can be done quickly and less expensively than major home remodeling or rehabbing. 3) Get Rid of Mold! Mold is a deal breaker. Recent news has made the average homeowner terrified of possible black mold in a home. Plus, it's really hard to get out of a home once it shows up, meaning more time and expense. When you see mold in a home you're considering you may want to reconsider it. At the very least it's bound to lower the price of the home. 4) Cost List and Double it Basic house flipping tips say that you should always double your estimate for fixing up a property. Keep that in mind when figuring how much you think you can offer to buy a property and still come away with a profit. No matter how accurately your contractors estimate the cost of repairs, something inevitably happens to increase the final price. So, doubling your repair budget automatically creates a buffer zone for wholesaling property. If you come in under that amount at the end, then it’s just more profits for you. 5) Contractors take time This isn't so much a cutting costs tip as a warning. Most contractors have multiple jobs going on at once or backlogged. If you decide to just pick a contractor out of the yellow pages one day he or she may not be able to get to work on your house for a few days or weeks, maybe even months. So, keep this in mind if you have a property that will need major repairs or are running short on funds for carrying costs. It may be better once you get low on funds to just cut your losses on a property that still needs repairs by selling it as is. 6) Make Moderate Improvements A lot of investors wholesaling property make the mistake of going overboard in their improvements. They don't take into account what homes in the surrounding area are actually selling for and so invest a more money than needed in a property. This can be in time, effort and especially money. For instance, if no other homes in the surrounding neighborhood have miniature water features in the backyard, there is no need for you to add a miniature water feature to your homeowner's backyard. It increases the price a lot, but also requires a lot of care on the part of the buyer and really only appeals to a certain select group of homeowners. There are plenty of other house flipping ideas you can follow to keep those costs down when wholesaling property. In fact you'll probably come across a few of your own private tips and ideas as you start flipping more houses. Hopefully, the above tips are a good start for your burgeoning real estate investor's tool box. Todd Hill is a real estate entrepreneur that has over two decades of experience in the industry. Todd’s expertise spans a range of skills including building and remodeling to investing and development. He has definitely the solution to all your real estate issues, contact him at [email protected] or call 913-927-0595. Also read: The Real Art of House Flipping discussed by Todd Hill |
About ToddTodd Hill was born and raised in Los Gatos CA in Silicon Valley. Todd Hill Homes is a leading brand providing affordable homes at Utah and many other locations. Todd has great expertise in building, remodeling and selling residential real estate. ArchivesCategories |
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