How to get your offers accepted to buy properties

The biggest challenge facing most real estate investors is making acceptable offers, especially when buying properties is the basic foundation of real estate investing.



Unless you buy properties, you cannot make any money.



Here is how to make offers that get accepted.



The offer you make depends on the type of property you are buying.



1) Buying from motivated sellers



If you buy houses from motivated sellers, it is necessary to have the following pieces of information:



a) Market Value



Do your due diligence to find out conservatively how much the house would be worth in perfect condition. You must have this information before you can make any offer.



b) Mortgage balance



You must get this information before you can make an offer. A seller who is not willing to disclose this information is not motivated enough. Move on to a motivated seller.



The mortgage balance must allow you to buy the house and still leave you with a profit. It must allow you to make a profit and own it free and clear.



c) Repairs needed



It is possible to estimate repair costs with the information provided by the seller.



You must know how much you need to fix up the house before you can make an offer. Of course, I like to see the house and do my own repair estimates.



d) Asking price



If the owner is asking for too much money given the above 3 pieces of information, the dealmight never happen.



A good asking price must take into account the market value, mortgage balance and repairs. You can then make an offer based on the asking price. Make an offer if the mortgage balance allows you to make a profit.



Even though it is necessary to consider the seller's needs, no offer can be too low. If they are facing foreclosure, then they probably need some money to move, or their asking price might be just enough to get away from the property.



If the mortgage balance is too high compared to the value of the house, it does not make sense to make an offer. Move on to the next deal.



There is no bad offer, except the one you have not made. Always make the offers that make sense to you. You'll be surprised how many get accepted.



2) Buying foreclosed properties



The asking price and repairs are the only important considerations to make in this case. Banks selling these properties are willing to negotiate.



Most REOs are listed below market value. Depending on your exit strategy, if the numbers are close to making sense, by all means make an offer.



Lastly, remember to make your offer lower than the asking price.



by: Simon Macharia

http://www.articlecity.com/articles/home_improvement/article_6984.shtml

The best kind of home improvements: high-impact, low-maintenance

(BPT) - Yes, everyone knows making home improvements are a worthy investment in your greatest material asset. Sure you want every improvement job done well with top-notch end results. But when all is said and done, do you really want to have to put a lot of effort and money into maintaining those improvements? For most people - whether they'll admit it or not - the answer is "no."



The best home improvements are the ones that not only enhance your home's value and livability, but also require little work from you afterward to keep them looking great and functioning well. If you're looking for high-impact, low-maintenance home improvements, consider these popular projects:



No-leak skylights



When it comes to an improvement that brightens your home, enhances its indoor air quality and boosts energy-efficiency, skylights deliver. Unfortunately, early skylights had a reputation for being leaky - a problem that simply doesn't occur with modern, no leak, energy-efficient skylights. Pre-engineered flashing kits (the metal shield that surrounds any opening in a wall or roof) work with all types of roofs, from shingles to metal, to ensure a properly installed skylight won't leak.



Need further low-maintenance points to make the case for adding a skylight? Not only do modern skylights keep water out, they're energy efficient as well. Energy Star-qualified, no leak solar-powered fresh air skylights, like those from Velux, deliver fresh air through cost-effective passive ventilation. Adding remote-controlled, solar-powered blinds allows you to easily open or close a fresh air skylight and shade it when the sun hits that part of the roof, boosting the skylight's energy efficiency by 39 percent. Keep the shade open during cold weather to admit warmth and reduce heating costs. A 30 percent federal tax credit on both products and installation costs makes a skylight project even more appealing. Visit www.veluxusa.com for a tax calculator to show your savings for a new installation or replacement skylights and a skylight planner app to show exactly how skylights and blinds will look in any area of your home.



Lighting upgrade



Older light fixtures not only look dated, they often use outdated, inefficient bulbs and are lacking in the energy-efficient emphasis that comes with newer fixtures. Upgrading lighting throughout your home is a great way to ensure you won't have to think about it again any time soon.



If a total lighting redesign is out of the question, you can still make your existing light fixtures lower maintenance simply by swapping out old, inefficient incandescent light bulbs with newer, electricity-sipping versions. Options like CFLs and LEDs provide all the light of incandescents while using a fraction of the energy. Energy.gov says Energy Star-rated LEDs use at least 75 percent less power than incandescent bulbs, and last 25 times longer. Imagine the time, hassle and money you'll save not having to replace bulbs constantly - especially in lights that get a lot of use, like porch lights, or that are hard to reach, like the chandelier in your two-story entryway.



Vinyl siding



Wood, fiber cement, stucco, brick - there are nearly as many types of exterior siding as there are colors to paint it. When it comes to low- or no-maintenance siding, vinyl remains the gold standard. In fact, more new homes are built using vinyl siding than any other type of siding product, according to the Vinyl Siding Institute.



While early versions of vinyl siding earned criticism for being less lovely than wood, even those less sophisticated versions had staying power; it's possible to find homes in use today sporting vinyl siding that was added to the house a while back.



Vinyl siding never needs to be painted, and when properly installed provides exceptional shielding from the elements. New technology has made modern vinyl siding look better and last longer without fading issues associated with older versions of vinyl. It requires basic cleaning, and overall maintenance demands are much less than other types of siding.

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OCTOBER 2015 MARKET UPDATE

October 2015

Included in this blog post is a link to my Real Estate Update Newsletter. Please click on the link below to get the latest Real Estate Update for October! If you have any questions, please don’t hesitate to call or email my office. 

614-882-6725

delena@delena.com

http://realtytimes.com/203/DeLenaCiamacco