What’s In Store For Investors In 2018?

What’s In Store For Investors In 2018? was originally published to MPG Deals Investment Property Blog

It's hard to believe that 2017 is almost over. It's December and 2018 is knocking on the door. So what do the experts have to say about what will happen with the housing market in 2018? That's what we will look at in this write up.

New Homes And Their Impact On Flippers

It seems that the stock market likes the new President and all the talk of tax reform, but has the housing market liked it as much? It looks like new home building still hasn't really broke loose yet to keep up with buyer demand and home prices will continue to rise because of the short fall of new homes.

Suzanne De Vita has a post on RisMedia that gives some good insight:

Analysts are expecting even higher home prices in 2018 than originally projected, according to new research.

Zillow’s 2017 Q4 Home Price Expectations Survey reveals experts are anticipating a 4.1 percent hike in the new year, up from the 3 percent they forecasted a year ago. Over 100 experts, including economists, participated in the survey.

Their reasoning? Home-building has not panned out as planned—yet.

“The American labor market is stronger than it’s been in decades, and Americans, particularly young Americans, are increasingly feeling confident enough to buy homes,” says Aaron Terrazas, senior economist at Zillow. “Home-building has not kept pace with this surge in demand and remains well below historical norms. We don’t expect that these demand-supply imbalances will fundamentally shift in 2018. Demand will continue to grow and, though supply should increase somewhat, we still won’t build enough new homes to meet this demand, contributing to higher prices.”

Less than 20 percent of experts forecast home-building to pick up next year, the survey shows. Approximately 313,000 new homes were on the market in October, representing 4.9 months supply, according to the U.S. Census Bureau. Entry-level homes, especially, are scarce—down 20.4 percent year-over-year over the summer, reports Trulia.

Continue Reading Suzanne's Full Article "Housing in 2018: Where Are Home Values Headed?"

So it looks like there will still be a greater demand than supply for new houses next year. This is both good news and bad news for flippers. The good, investors will still be able to quickly sell their freshly renovated properties for a good price. The bad, it will remain difficult to find good properties at a low enough price to turn a profit, unless you have access to a good Atlanta area real estate wholesaler :)

What's Coming For Rentals In 2018?

In our article "Should You Start With Fix And Flips Or Buy And Holds?", we preached the fact that new investors should be starting with fix and flips. However for those of you that are already in buy and holds what will your market look like in 2018? With new housing at a premium, what is in store for the rental market? Carole VanSickle Ellis has a write up on Think Realty that gives some good insight:

More Households Opt to Rent, not Buy

Blomquist observed, “Younger generations of new households are forming and entering the market. But they value mobility and the wages are not there to enable them to buy [a home].” Cisterna added, “The bottom one percent of mortgages are going to people with credit scores around 620, whereas historically those mortgages went to people with scores in the mid-500s. Millions of people do not have a choice [but must rent rather than own].” Markets in which the demand for rental housing is present along with affordable sales prices for investors represent ideal targets for SFR investors in 2018.

Markets with a population of Baby Boomers who are selling their homes often represent good potential investment locations for SFR investors. Because those homes are often outdated, needing updates and repairs before retail buyers would be interested in purchasing them, observed Vaidya. Thanks, in part, to Boomers opting to remain in their homes longer than most analysts expected, there is a limited inventory of move-in-ready properties both attractive and affordable to first-time buyers. Investors who purchase these properties and upgrade them often find themselves ideally situated to either rent or sell at retail once the rehab is complete.

Finish Reading Carole's Post "For Single-Family Rentals, Things Look Bright in 2018"

That's pretty much all good news for investors looking to grow their portfolio, as well as keeping renters in the properties they already have. She actually gives both flippers and landlords a great demographic to target in your marketing efforts - Baby Boomers who have been in their properties for a long period of time.

Summing It Up

We think that things are looking up for 2018. The only way we see that there could be a downside is if there were to be something major happening GLOBALLY. As much as people don't like to admit it or push it under the carpet, we are in a global market and crazy things happening around the world can affect us. However we feel it should be a good year for both flippers and landlords alike.

Is That Investment Property All That It Appears To Be?

The following article Is That Investment Property All That It Appears To Be? Find more on: MPG Deals Blog

Happy Friday All! Hope you had an awesome day with friends and family yesterday and had your fill of turkey :) .  I myself was super busy all week getting ready for family coming into town and wasn't able to post earlier this week and wanted to make sure I got something out before next week.

What I want to cover today is really all about hidden issues with distressed properties. No one likes it when they purchase a property and then find that there are foundation issues, mold or something else lurking that has the potential to cost you thousands of dollars, taking away from your bottom dollar when selling the property.

Hidden Issues with Investment Properties

Chris Clothier put up a post recently that covers some of the pitfalls when investing in distressed properties:

Hidden issues may be lurking

People who are selling distressed properties know that their properties have issues. They know that you know that their properties have issues. What they might, in some cases, be banking on, is that you might be so focused on seeing certain obvious issues that you don’t see the less obvious issues that they tried to cover up, so you paid a higher price for the property than you should have.

Hidden issues are not uncommon in distressed properties. Sometimes no one knew about them, sometimes the previous owner tried to cover them up. Some of the more common problems are electrical (re-wiring an entire property? An easy $10,000), mold (check out any fresh paint), and water damage. Check for caulking issues, like dry or cracking caulk, lots of caulk in one area, or peeling as indications of water damage.

If you miss something in your initial budget, it could turn a profitable investment into a lemon in a flash. Investing in distressed properties, especially if you’re inexperienced, is always somewhat of a gamble.

Read the full article "3 Pitfalls in Investing in Distressed Properties"

We totally agree with Chris in his final statement in that clip. Investing in real estate is always somewhat of a risk. However, a good investors knows the risks and actually hedges their bets on calculated risks. It is extremely important to conduct inspections before purchasing a property, whether it's from the MLS, a wholesaler or something that you found through your own marketing efforts. Also, the 3 things that Chris lists, electrical, mold and water damage are among the most costly and overlooked inspection items. I encourage you to read the rest of the article, and I think where they have "face-paced" at the beginning was suppose to be "fast-paced" :)

Do Your Due Diligence With Inspections

Ken Meyer actually wrote an article that has something to say about all 3 potential money sucking issues including:

Water Leaks

Look at the caulking around the bathroom tub. Lots of caulking could mean repeated attempts at stopping water from running behind the top. Caulking that is dry, cracked and peeling can indicate a long-term leak that may have rotted wood in the walls and floor joists around the tub. Check around the tub for other signs of water stains or soft wood. If you can get under the house, check the joists for rot.

There is a lot of money to be made in distressed properties. But if you miss a repair or two in your initial budgeting, it will end up costing you much more money than you expected and could turn into a money-loser just as easily. The trick is to not rush your inspection. Take the time to look at everything carefully and don’t cut corners.

Read more about what Ken has to say about electrical and mold issues "3 Hidden Issues Found In Distressed Property For Purchase"

I decided to include his bit about water leaks because in our experience they can be the most expensive and hide the most damage, including MOLD!

It's important to find the source of the leak. Years ago homes here in the Southeast were plumbed using something called polybutylene. Over time not only the joints would fail, but also anywhere in the pipe where it was bent to go around duct work or made a sharp curve to go up to a bathroom or kitchen. Repeated breaks could leave a home with mold growing in all kinds of locations, and not just localized. Again, Ken gives great advice at the end of the article and is what we recommend, complete and perform extensive inspections.

Summing It Up

The most important thing you can do to help eliminate as much risk when investing in real estate is to complete a thorough inspection.

Here at MPG Deals, we aim to find and disclose every issue that we find with every wholesale real estate investment that we offer. However, we do advise all of our end buyers to perform their own due diligence to insure they are buying a property without any hidden issues. Until next time, and enjoy your holiday weekend and we wish the best to you and your family!

 

 

Getting Started With Your First Rental Property

Getting Started With Your First Rental Property was originally published to MPG Deals

Ready to start you rental portfolio? Have you done enough research to know what you are doing so that your first investment property is a winner? In our article "Should You Start With Fix And Flips Or Buy And Holds?" we covered the fact that you should start with fix and flips and build some cash before jumping into rentals. Here are a few tips to make sure that your first rental property turns into a good cash flow property and not a nightmare that bleeds you dry.

Rental properties are a great way to add some additional cash flow every month, as well as creating generational wealth for your children and grand children. However there are a few things that you MUST do to make sure that you are making a good investment. Not every property is a good candidate for becoming a rental property.

Run The Numbers On The Property

This by far is probably the most important aspect. You must take into consideration how much you are paying for the property, what the note is (if you're not paying cash) and how much you can rent the property for. You also have to calculate in things like insurance and HOA dues.

Kayleigh Kulp had a bit to say about this back in August:

Run the numbers, then run them again. It's important to treat each rental property like its own business to serve as a good investment.

"The most important consideration for prospective landlords is to accurately estimate rental income and the costs associated with leasing," says Lucas Machado, president of House Heroes, a South Florida real estate investment company. "Until a landlord has a precise grip on these issues, they risk owning a property that – rather than a profitable investment – is a net loss every month."

Betting on appreciation alone is not a good idea.

"Rental purchases should have positive cash flow and good rate of return," Machado says. That could be anywhere from 8 to 15 percent in a residential market. Investment real estate is often valued by its capitalization (cap) rate, which is computed by taking the net operating income divided by the going cap rate in the neighborhood to come to an appropriate price.

Your monthly expenses will include the mortgage or debt service, taxes, insurance, lawn and pool maintenance, property management (optional) and insurance. At least 20 percent down payment will likely be required if financing the purchase.

Vacancy, turnover and eviction are realities of leasing any property, so wise landlords must assume at least a month's rent loss annually, Machado said.

Read The Full Article Here"A guide for investing in rental property"

Besides making sure that your property is in a decent neighborhood and that you will be able to rent it, running the numbers is the most important thing. In a later article we will dive more into calculating cap rate (capitalization rate).

Rental Amenities

So the numbers work on the property, now onto renting the property. One mistake that some first time land lords do is over update or flat out just make to many improvements to the property for tenants. In fact there are some things that you really shouldn't have at a rental property.

Chris Deziel wrote about a few things that you definitely don't want at your rental property:

4. Garbage disposal

Garbage disposals are useful, and they aren’t that expensive to repair or replace, but they may be behind more maintenance calls than any other appliance. Think carefully before supplying one at your rental, especially if children live there.

5. Trampolines

Some parents won’t even let their children play on a trampoline, but those that do should buy their own. Even that small trampoline you use to tighten your abs is a potential hazard for kids. Take it out of the garage or basement, and put it in storage or donate it to your local gym before renters move in.

6. Swing sets

Kids love swings, but it’s safer for you if they use the ones at the local park. The possibility of injuries is your main concern, but you should also think about how difficult it is to maintain the lawn around a swing set. It’s best to avoid swinging chairs on the porch as well. They can break.

7. Pools

Inflatable pools need to be refilled often, or they quickly become unsanitary. It takes 810 gallons of water to fill a 6-by-6-foot wading pool to a depth of 3 feet. That’s roughly the amount of water the average household uses in 10 days.

A note about in-ground pools: If your rental property already has a pool, you probably aren’t going to take it out. You might consider covering it and keeping the gate locked, however, for the following reasons:

• Maintenance is expensive, and the pool pump uses energy.
• A poorly-maintained pool is unsanitary. It’s an eyesore and could earn you a visit from the local health authorities.
• Pools are hazardous for small children.

Continue Reading "10 things you shouldn’t have at your rental property"

Those are 4 things you really don't want at your property!

First, the garbage disposal - tenants may tend to use this for a garbage can! And if your property is on a septic tank, you are probably going to end up pumping it sooner than if you didn't have a garbage disposal.

Trampolines -really? You are just asking for a law suit when a tenants child or one of their friends bounces off and breaks one of their legs in multiple places.

Swing sets - this is one that we sometimes let slide depending on the building materials and how well it's anchored. Metal swing sets we always remove. However if it's a nice pressure treated swing set that has a little fort and so on we may leave.

Lastly a pool. Whenever we consider purchasing a property for rental OR fix and flip and it has an in ground pool, the first thing we ask ourselves is "where are we going to get enough dirt to fill that in?".  Pools are extremely dangerous for small children! The risk of a child drowning is too great, much less the possible law suits.

Summing It Up

As we stated earlier, a rental can add some great cash flow to your monthly income. However you have to run the numbers and make sure that it's going to cash flow. And lastly, be careful about what amenities you provide or leave on the property when renting it.

Lastly, be sure and check us out for investment properties for sale in Atlanta GA!

 

What Is A Hard Money Loan

The post What Is A Hard Money Loan See more on: MPG Deals Wholesale Properties

If you are new to real estate investing you may or may not have heard of a hard money loan. You may want to start flipping houses, but don't have all of the cash necessary to complete the transaction. This is where a hard money loan might come in handy for you. In this short article we will cover what a hard money loan is and when to use them in your real estate investing business.

What Is A Hard Money Loan?

Joshua Dorkin wrote a post on Bigger Pockets that explains what a hard money loan is:

Hard money lenders (HMLs) are typically private individuals or small groups that lend money (Hard money) based on the property you are buying, and not on your credit score. Usually these loans cost (percentage-wise) much more then an average mortgage, often times up to twice what a regular mortgage does, plus high origination fees....

Hard money loans are easily accessed and cut through the red tape. If you can develop a relationship with a LOCAL hard money lender, you can get funds within a couple days, and sometimes with no appraisal or other costs (except for origination fees of course).

Read Joshua's Full Article "Hard Money: What Is It and How Do Hard Money Loans Work?"

We thought that was a perfect explanation of what a hard money loan is, which is why we included it.

Usually it's flippers (quick turn for retail sale) that want to use hard money loans because the cost of using this money is so high that it doesn't make sense to use it for a rental property. However we have come across some larger hard money lenders that can do a hard money loan on a property to complete renovations and get a property ready to rent, then convert the hard money loan to a conventional 30 year mortgage once the repairs are completed and the property is rented, thus bringing down the costs of borrowing the money and making more sense for the investor.

Advantages and Disadvantages of using Hard Money

Rebecca Lake wrote an article on Investopedia that explains in great detail the Pros and Cons of using hard money loans to finance your investment property:

The Cons

Hard money loans aren’t a perfect financing solution. There are two primary drawbacks to consider:

• Cost – Hard money loans are convenient, but investors pay a price for borrowing this way. The rate can be up to 10 percentage points higher than for a conventional loan. Origination fees, loan-servicing fees, and closing costs are also likely to cost investors more. (See also: The Complete Guide to Financing an Investment Property.)
• Shorter repayment period – The purpose of a hard money loan is to allow an investor to get a property ready to go on the market as quickly as possible. As a result, these loans feature much shorter repayment terms than traditional mortgage loans. When choosing a hard money lender, it’s important to have a clear idea of how soon the property will become profitable to ensure that you’ll be able to repay the loan in a timely manner. (See also: How to Calculate ROI for Real Estate Investments.)

The Pros

There are several good reasons to consider getting a hard money loan instead of a conventional mortgage from a bank. Here are the main benefits this lending option offers to investors:

• Convenience – Applying for a mortgage is time-consuming, particularly thanks to new regulations on mortgage lending implemented as part of the Dodd-Frank Act. It can take months to close on a loan, which puts investors at risk of losing out on a particular investment property. With a hard money loan, it’s possible to get funding in a matter of weeks. That’s important if you’re funding a large-scale development project and can’t afford deviations from the timeline to completion.
• Flexible terms – Because hard money loans are offered by private lenders, it’s possible for investors to have more room for negotiation of the loan terms. You may be able to tailor the repayment schedule to your needs or get certain fees, such as the origination fee, reduced or eliminated during the underwriting process.
• Collateral – With a hard money loan, the property itself usually serves as collateral for the loan. But again, lenders may allow investors a bit of leeway here. Some lenders, for instance, may allow you to secure the loan using personal assets, such as a retirement account or a residential property you own.

Read Rebecca's Full Article "Using Hard Money Loans for Real Estate Investments"

Really good comparison from Rebecca. One point that we really like about using hard money loans that she points out is that the subject property is collateral. This can be very beneficial for investors who have bad credit. This means that the lender is actually lending you money based on the numbers of the property. However, most of the time you will have to have some money to put down or use for repairs because these lenders want you to "have some skin in the game", otherwise the risk of you walking away maybe to high for them.

Summing It Up

Hard money loans can be very beneficial to investors. If you don't have enough cash to buy and  repair a property to sell it retail a hard money loan maybe just what you need. Shop around, find the best deal you can and visit REIA's and connect with other investors and find out who their favorites are.

If you are an investor looking for Atlanta wholesale deals for fix and flip, be sure and check us out!

 

Selling Your Renovated Property

Selling Your Renovated Property is republished from https://mpgdeals.com/

So you purchased a fix and flip to sell retail. It can be an exciting and stressful time all at once. But when is the best time to actually start marketing the property? How do you know when it is actually ready to go on the market and pass inspections? These are the questions we will answer in this short article.

Marketing Your Property

When should you start marketing your property to get it sold quickly? We all know that the longer you hold onto a property the more it will cost you in holding costs. Insurance, HOA dues, utilities and if you used hard money can add up quickly cutting into your bottom line.

If you ask most investors and realtors they will tell you that you start marketing the property once it is completely finished and staged, if you are going to lightly furnish the property for showings. We don't subscribe to that train of thought 100%. Let me tell you why.

A few years ago we renovated a condo in a high rise. From day one the neighbors were curious about what upgrades we were making. We also ran into several real estate agents that were showing other condos in the building. After introducing ourselves we were often asked by these realtors if they could see the property, sometimes even when they had a client with them that were there to see another unit.

Almost all of the realtors asked to be notified of when the property was completed, so we did. We actually notified them about 1 week before we were ready to go on the market. One of the realtors we had meet actually made an appointment to show the property the day it was ready. We hadn't even listed it with a realtor. He brought in a client and they put it under contract and closed within 2 weeks. We were extremely happy, being that the HOA alone on the property was $400 a month, and we only had the one realtor to pay!

We found an article that helps explain in more depth the Pros and Cons of marketing your property before it's completed on Connected Investors blog:

Realtors are normally decidedly for beginning active advertising and offering showings only after the property is 100% polished, cleaned, and even staged. Of course, this is in the agent’s favor as it theoretically makes it a lot easier to sell at top dollar. That means more profit and commission for real estate agents and the house flipper alike.

However, every day a property isn’t sold bleeds money and profit because of mounting holding costs. Some savvy rehabbers choose begin marketing the opportunity from day one of acquisition. Some may even market before that. The less you have to put in, and the less time it takes to resell, the lower the risk, and the higher the profit potential. In many cases this may also be the ideal scenario for the buyer. Some buyers would rather complete improvements to their own tastes. This kind of scenario is the exception rather than the rule, as most house flippers don’t want buyers on an active job site.

The downside of beginning to market too early is that some buyers just may not have the imagination to envision the end product and value and are scared away from an unfinished project. It depends on the buyer and how you are able to present the property. If you can afford it, test out these options.

Read The Full Article "How to Sell Fix and Flip Property"

Good advice. The one thing that you really need to take into consideration is how many contractors are on the job site that day, not only for staying out of their way, but for safety reasons as well.

Ready To List Your Property?

Okay, so everything seems to be done, or at least your GC tells you it's ready. Do you take their word for it? We don't. We always do a walk through and check every little thing. Just a few things wrong here and there can totally blow a sale to a potential buyer, thinking that if they see these little things wrong, how much more is wrong that they can't see.

Danny Johnson put up some great info on the Flipping Junkie blog about performing a punch list before listing:

It really comes down to the details. When I’m doing a rehab punch list I inspect everything from the texture on the walls, to if the paint has an even coat. Then, beyond the obvious cosmetic issues, I look at the elements that are going to be covered when the house gets inspected.

Important aspects of a house that are looked at during an inspection are:

• Trees rubbing against the roof
• The water heater raised 18 inches off the floor
• Weather strips on the doors and windows
• Hand railing on stair caseses (both inside and outside)

There are a lot of little things as far as safety goes that can be over looked. Especially when you have something like a deck at one of your properties, you always want to make sure there’s no structural damage. For instance, this house had that great big deck in the back yard, but it was a two story deck. Not only did we have to make sure the stairs on the deck were safe, with the appropriate hand railing, but we also needed to double check the safety of the railings and banisters were safe on the top section of the deck.

Always, always, always make sure your doors are sealed. That’s such an easy thing to fix, and just as easy to over look. You never want to miss the weather stripping on your doors. A good way to tell if a door needs a new seal is just to close it from the inside and see if there’s any light showing through from the outside. If there is, then you’re going to have to replace it.

The same goes for your windows. In fact, we had a house where we upgraded the windows to ones that open from side to side, but were installed opening up and down. Always make sure your new additions to the house are installed correctly!

Read The Full Article "Rehab Punch List – Getting Ready for Market"

You need to read the full article. He gives a lot of good info. Home inspectors can be a huge pain, and can "ding" you on the smallest stuff. Before you know it they have a huge list with little stuff that looks like a mountain to a potential buyer when in reality it's only a mole hill.

Summing It Up

It's really up to you and the project you are working on when you will start marketing the property. Just bear in mind that not all potential buyers will be able to invision the finished product. Then when the property is ready to be listed, be sure and do a thorough walk through paying attention to detail on every little thing.

As always, if you are looking for the best off market properties in Atlanta, sign up on our site.

Things To Do For Halloween Around Town

Things To Do For Halloween Around Town was originally published to MPG Deals Wholesale Properties

Today is October 31, Halloween. It's one of the most celebrated days, not only in America, but across the world. Personally, I've never understood it, but hey, if you are into it - that's cool. So instead of putting up an article about flipping or rentals, or anything about real estate, we thought we would put out a post about things to do today for Halloween in Atlanta.

 

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Halloween Events In Atlanta

A few of the things we found were from the AJC :

The Rocky Horror Show. Oct. 19 through Nov. 5. $15-$25. Out Front Theatre Company. 999 Brady Ave. NW, Atlanta. 425-891-0570. www.outfronttheatre.com.

Kicking off a spooktacular second season, this canny production is unlike any others you've seen before. Complete with Richard O'Brien's music and lyrics, sass from the audience and the most diverse and energetic cast -- this rock 'n' roll musical is more fun than ever.

Mummies & Mixers. 7-9 p.m. Oct. 26. $40 general admission. Michael C. Carlos Museum. 571 South Kilgo Circle NE, Atlanta. 404-727-2623. www.carlos.emory.edu.

Join one of the liveliest fall parties at the Michael C. Carlos Museum -- back from a sold-out smash year. There will be music, costumes, film and cocktails crafted by guest mixologist Julian Goglia. You can even spice it up by getting your face painted Ancient Egyptian style. And if that wasn't enough, attendees seeking a bigger thrill can purchase a host committee member ticket, which includes early access to the event, a champagne toast and a special tour of the Egyptian galleries with Carlos Museum curator Dr. Melinda Hartwig.

Sofar Atlanta Halloween Show. 8 p.m. Oct. 27. $20 in advance or apply for a ticket. A secret location revealed the day before. www.sofarsounds.com.

If you've never heard of Sofar Sounds, you'll want to pay attention because it is something a little different. Sofar describes itself as a "grassroots network of artists, hosts, and guests...helping to bring the magic back to live music. We curate secret, intimate gigs in unique spaces, from living rooms and churches to hoodie shops and fancy furniture showrooms."

Because Atlanta never stops producing incredible performing artists, you can catch one on the way up at the next Sofar (which just happens to be scheduled for an intimate special Halloween event edition). There aren't many better ways to discover live music than through unique experiences. Reserve your spot by buying a guaranteed ticket or apply for one via lottery; if you get in through the application process, tickets are on a pay-what-you-want model, and allow for a plus one.

See All Of The Listed Events On AJC's Article "Fear factor: 11 fright-filled Halloween events in Atlanta"

The very first one listed - "The Rocky Horror Picture Show", I really have never understood! My cousins were really into it when I was young. They would dress up and go see the midnight showing at a local movie theater at midnight almost every Saturday night. I need to call them and see if they are attending that event tonight.

Image Credit

Haunted Houses In Atlanta

Are you looking for a scare for you and a friend? Then maybe you are looking for a haunted house:

Netherworld

6624 Dawson Blvd., Norcross, Georgia. fearworld.com

Netherworld is open every night until Halloween, as well as November 3-5. Tickets start at $23, with passes costing up to $200 for behind-the-scenes tours.

Scare factor: 8/10

What can be said about Netherworld that hasn't been said already?

It is the undisputed heavyweight champion of Atlanta haunted houses. And 2017 is the last year to see the show - and all the Hollywood-quality costumes, special effects, props and make-up - in its longtime Norcross location. Is it the scariest of all? Probably not. But if it doesn't scare you, you've got a trip down Interstate 16 ahead of you anyway. And whatever Netherworld lacks in total fear, it more than makes up for in production value. It's the most professional haunting in the city.

Containment

1320 Blairs Bridge Road, Lithia Springs, Georgia. containmenthauntedhouse.com

Containment is open September 29-30, October 6-8, 13-15, 20-22, 25-31, and November 3-4) from 8 p.m. until somewhere between 11 p.m. and 1 a.m. depending on the day. General admission is $25.

Scare factor: 7.5/10

Just one exit past Six Flags on Interstate 20, Containment is one of the most inventive haunted houses in Atlanta, known for its design and story line. The way Containment's story unfolds creates a very personal and intense connection to the horror around you. Previously housed in Atlantic Station, its location in Lithia Springs makes it one of the closest haunted house to the city of Atlanta in 2017.

See All Of The AJC's 5 Haunted House Recommendations "5 of the top haunted houses for Atlantans with no scare threshold"

Haunted houses are definitely NOT my thing. People jumping out and scaring me, it's hard not to hit them!

Another thing that got my attention to do tonight included something I have been wanting to do for some time, an escape room. Atlanta Room Escape located at 314 Auburn Ave in Atlanta has escape rooms where you need to outsmart a "JigSaw" themed adventure and also a zombie themed room. I think I can handle that. Learn more by Clicking Here.

Go Have Some Fun!

No matter what you do tonight, stay safe and DON'T DRINK AND DRIVE! In fact be more mindful of your driving tonight. Remember there are lots of children out tonight as well, some in dark costumes making it hard to see them, so keep your eyes open for them while driving.

What am I going to do tonight? Well, now that I think about it I think I'll stay home and pass out candy and check out all the cute costumes on the little kids and leave all the parting and scares to the younger generation.

Final note - you won't find any haunted wholesale investment properties at MPG Deals! Happy Halloween!

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Repairs And End Buyers

Repairs And End Buyers was originally published to http://mpgdeals.com

So you are ready to dive in and do your first fix and flip. With a little understanding, you can make the most out of it, enjoy it, and in the end make some money. In this short article we will cover a few more things that you need to know and do for your first fix and flip property.

In our last article "Start With A Solid Foundation For House Flipping" we touched on a few things to getting started with your fix and flip business. Now we want to dive in a little more about how to know what you are getting into and how to best position yourself for success.

 

Repairs On Your "Fixer Upper"

The scope of work and who your end buyer is needs to be the very first thing you access.

Brandon Turner just posted an article on Bigger Pockets that gives some great advice on actually assessing your first flip:

2. Tour the property in detail.

Next, with a good understanding of how you want the finished product to look, walk through the property very slowly. Take a lot of photos or record a video, such as with your cell phone, so you can easily recall the condition later (trust me, you won’t remember it all). Furthermore, photos will help you sell the property later to the cash buyer. If the seller is home, be sure to let them know you will be taking pictures, that they’re for analysis, and that you won’t be making the photos public. Don’t make them feel like you are invading their privacy.

3. Write down the problems in each part of the property.

While you are still on-site at the property, go room by room and write down its condition, as well as any needed repairs that you notice. For example, if you walk into the living room and see carpet that looks and smells like dog urine, write down “replace carpet in living room.” Also, write down a quick estimate of the size of the room (it doesn’t need to be exact; just make your best guess). Be sure to take a look at the exterior of the home as well and pay attention to any big issues, such as the condition of the roof, siding, and any outbuildings.

Read The Full Article "The Simple 6-Step Process for Estimating Rehab Costs"

Good info from Brandon, and we like his 4th step of estimating by condensing the list into one of 25 categories. We can't stress enough how important it is to take your time when performing a walk through of the house for the first time. Even for properties that we are keeping for ourselves we always take lots of pictures, many times 50 or more.

Flipping Your Investment Property

After you have your scope of work down, next you need to look at your end buyer and other properties in the neighborhood. If all the properties nearby are selling at 100k to 200k, more than likely your end buyer is working middle class. No need to ad in extra expense by making the property look like the Taj Mahal!

Epic Real Estate posted an article that will probably help you stand back and evaluate your end buyer a little better:

#2: Know Your Customer & What They Want

The only way to get what you want is to give enough people what they want.

After calculating equity, you should have a good idea as to who you customer will be. For example, if you need fast money and you’re willing to sacrifice some of your equity to get it, your customer will probably be another investor – likely, a cash-buying investor – for the fastest close. In most circles, this is referred to as wholesaling.

On the other end of the spectrum, after fixing up the entire property and maybe even adding square footage, your customer will most likely be a resident owner – someone who will actually purchase the property to make it their home.

Again, these are the two extremes, and you could have anything in between – buy-and-hold investors, resident owners who want to fix up the property themselves, etc. The point is, there are different types of customers who want different things, and your job is to know who they are and what they want before you can effectively market to them.

Continue Reading "Flipping Houses Like a Badass"

While the two comparisons made in the article are very different, it should help you understand better how you need to assess the property for who your end buyer is.

We like to gain access to the MLS and look at current properties for sale, or if none are on the market nearby, look at pictures of properties that have recently sold. We pay the most attention to kitchens and bathrooms. If there are other properties on the market, we like to make ours better and competitively price the property so that it is the nicest property on the market at the best price.

Summing It Up

It can be an exciting time performing your first flip, but you need to be a little cautious and methodical when choosing what repairs to make. Look at nearby properties, either listed or recently sold on the MLS and get a good feel for who and what your end buyer will want in the property.

And as always, if you are looking wholesale properties for sale in Atlanta for your first fix and flip, visit our site. Until next time :)

Start With A Solid Foundation For House Flipping

The blog post Start With A Solid Foundation For House Flipping See more on: http://www.MPGDeals.com

It seems like every channel on TV has some sort of flipping show now. Some are better than others, while some seem to be all about just making a TV show. Sorry Mr Investor, but if you bought a house and didn't see the obvious major crack in the foundation that's going to cost you thousands, quit your crying :(

If you are new to flipping investment properties for retail, it may make you wonder "can I do this?" The short answer is yes, I think that almost everyone that has a desire to flip houses and has a solid coach and plan can get started flipping properties. But what makes a successful flipper? In this short article we are going to cover a few things that will help you in making sure you are on the right path with your real estate investment business.

Planning For Your Flip Property

In our post "Should You Start With Fix And Flips Or Buy And Holds?" we stated that fix and flip is our recommended path for new investors because of the cash that can be generated quickly. Then using the excess cash earned from those properties to use for buy and holds. But how do you make ensure that your next or first fix and flip is profitable?

Teresa Mears wrote an article on US News that gives a few good tips on setting out on the right foot:

They hire good contractors. Finding a good, reliable contractor to work with you on flipping a house isn’t any easier than finding a contractor to renovate your kitchen. Start looking before you find the house. Ask for references, call those references and look at completed projects. “This is going to be the hardest part of the whole thing,” Jensen says. “I have found three in my whole flipping career who were amazing. I have hired a lot more contractors.”

They buy in the right neighborhoods. When you don’t have a lot of money, the tendency is to assume that an inexpensive house anywhere is a good option. It isn’t. You want a neighborhood that is safe, where values are rising and where people want to live. “Not every house makes a good flip,” Jensen says. “Just because the house is priced low doesn’t mean it’s a good value. You’re not going to be able to force those neighborhoods to be good.”

They do work themselves – when they can do it well. One way to avoid dealing with contractors is to do the repair work yourself. That can be a decent option if you’re good at home repairs. Calculate how quickly you can do the work yourself vs. how much you would have to pay someone else. Your time has value, too. But bad renovations turn off prospective buyers

Read Teresa's Full Article "9 Secrets of Successful House Flippers"

First, hiring good contractors. This is a must. Talk to other investors and get recommendations from them. You have to remember that you CAN'T pay retail prices and make a decent profit. There are a lot of contractors out there, some good and some bad. Hopefully you investor friends will have some good contacts they are willing to share. Word of caution here though, even good contractors can go bad, so make sure you are comfortable with them before hiring them.

Next, we want to touch on buying in the right neighborhoods. Just like rentals, you want to make sure you are buying in the right part of town. No war zones, and stay away from busy streets. Check the local surroundings such as schools and shopping centers and super markets. If you can, talk to the neighbors and ask them what they think about the neighborhood before you buy.

DIY Some Of The Repairs Yourself?

The last thing, doing some of the work yourself. Paul Esajian just wrote an article that gives some advice on doing some repairs yourself:

2. Electrical

By electrical, we don’t mean major rewire work that requires 16 months of electrician training. But knowing the ins and outs of some basic electrical will save you money over the course of a real estate rehab from having to hire an expensive electrician.

Simple things like installing a ceiling fan or refreshing that indoor lighting from 1976 is a great set of electrical jobs that you could do on your rehab. To learn how, head over to your local library or check out a couple of YouTube videos to get you up to speed.

Electrical Advice:

• Identify wires: It’s a challenge to figure them out later. Google “electricians code” to find out the best way to label wires in your rehab.
• Always test wires before touching: Testers are cheap and easy to use, but they don’t do much good in your pocket. Be sure to use them any time you’re working with a wire.
• When in doubt, get a pro: If you’re not sure if you should handle a electrical job, best to hand it off to a professional.

Read Paul's Full Article "3 DIY Skills Every Beginner Rehabber Should Master"

We like this tip from Paul. Being able to change or install a light fixture or ceiling fan is a great way to help save on your rehab costs. Sometimes we go through and do all of the light fixtures ourselves when rehabbing a property. Important note though, if you are not comfortable with wiring, leave it to a professional!

Paul also lists tiling. If you have never tiled before, you may not want to experiment on your fix and flip. Maybe experiment at your own house first, then if you feel comfortable, do it on your rehab.

Paul also lists painting. This one we tend not to do. Painting the entire interior of a home can be time consuming because it really needs to be done correctly. The last thing you want is a sloppy looking paint job with wall paint on the trim or vice versa when a potential buyer is looking at the property.

Important Point To Remember On DIY

There is one thing that we want to cover about doing repairs yourself on properties, and it applies to any business that you are involved in. You need to carefully consider the cost of you performing the repairs yourself. What do we mean by that? You need to ask yourself this, "how much will this cost an hour to have done vs how much am I worth an hour?" Should you really be doing jobs that cost only $10 an hour when you could be doing something else that can earn you $100 an hour?! We will touch more on this in another post.

Summing It Up

If you want a solid foundation before getting into house flipping, talk to some other local investors, see if they will give you recommendations on contractors. From time to time you may want to do some of the repairs yourself, when it makes sense and you have the knowledge and tools to do the job properly. And lastly, make sure you are buying in the right neighborhoods, go ahead and talk to the neighbors and listen to what they say about the neighborhood and shopping centers.

If you are in the market for discounted investment properties in Atlanta GA, make sure to check out our site! Until next time :)

 

What Makes A Successful Real Estate Investor?

What Makes A Successful Real Estate Investor? is republished from MPG Deals Blog

Have you ever wondered why one real estate investor is so much more successful than another? Or maybe you see the success of a investor friend that you met at a REIA, and wonder how they have become so successful. Despite what the "Gurus" tell you, it does take work. I guarantee that every successful investor has a routine and plans for continued growth. In this short article we'll cover what it takes to make it big in Real Estate and what other investors are doing to make it happen.

Again, back to our first article "Tips For The New Real Estate Investor", we covered the fact that you need to decide that you are running a business, and real estate investing isn't just a hobby. So now that you have that mind set, now what?

Have A Plan For Your Real Estate Investment Business

Every successful real estate investor has some sort of game plan, and certain things that they do everyday. They don't just see what the day has in store for them, or take what the wind may blow them that day. They get up with a mission, and don't rest until it's done.

In our post "Tips For Becoming A Full Time Investor", we touched on the fact that you need to have a plan. One thing that wasn't touched on enough was that you really need to write things out. It helps you remember and prioritize.

John Fedro just wrote an excellent post that we had to mention. He gives a lot of really good advice for not only new investors, but also for some of us investors that have been around awhile and might have lost some focus. Here are just 2 tips from his 7 tip article that we liked:

2. Make incremental improvements.

Aim to not make the same mistake more than one time. At the end of each week, write down all the successes and failures of the week. Mentally walk through each day with an open mind to objectively point out what actions have produced results or continue to waste time and money.

Pro Tip: Always be reading and continuing to educate yourself. Consider joining or forming a book club with other like-minded real estate investors and entrepreneurs.

3. Keep your eyes on the prize.

It is too easy to let hours pass by without being productive. These hours turn into days, which turn into weeks and longer. The real world oftentimes has a habit of distracting us from our long-term financial goals and ambitions. For this reason, a prudent investor may write down and hang up a list of weekly/daily must-do’s. Hang this physical reminder around your home and office to help keep you on track.

Pro Tip: Motivate (or guilt) yourself into consistently producing results. Post reminders, quotes, and pictures of goals and achievements you wish to attain through your real estate investing all around your home, office, and car—a dream board everywhere you go. However, also make sure to include the custom list of action tasks to perform daily to help grow and maintain your investing business.

Read John's Full Article "7 Daily Habits of Real Estate Investors Who Seek Financial Freedom"

John makes some excellent points, and we really like his "Pro Tips" on these 2 points. First, continue your education on real estate investing. We regularly attend REIA's and other real estate investor meetings and we always try and take away at least 1 thing that we can learn, or implement into our business to make it run smoother. All though it is important not to try and jump on every type of new investment strategy that comes along. More on that in a minute.

On his 3rd Pro Tip, we are firm believers in writing down what needs to be done in the business, from day to day operations to setting goals for the future. It's also important that once you do accomplish your daily tasks, or reach a goal, go ahead and reward yourself! It makes getting things done that much sweeter.

We suggest you go ahead and read John's full article because we think it's a really good read for both new investors and savvy investors alike.

Master One Form Of Real Estate Investing

The last thing that we want to touch on is something that we see frequently with new investors. They attend investor meetings regularly and are constantly changing their strategy. This can lead to a lot of frustration and lack of being able to produce income on a continual basis.

We found an article that was written by Jean Folger on Investopedia that hits on this exactly:

4. Develop a Focus or Niche

Because there are so many ways to invest in real estate, it is important for investors to develop a focus in order to gain the depth of knowledge essential to becoming successful. This involves learning everything about a certain type of investment – whether it is wholesaling or commercial real estate – and becoming confident in that arena. Taking the time to develop this level of understanding is integral to the long-term success of the investor. Once a particular market is mastered, the investor can move on to additional areas. Savvy investors know that it is better to do one thing well than five things poorly.

Read Jean's Full Article "10 Habits of Highly Effective Real Estate Investors"

We couldn't agree with Jean more. We think it is extremely important to master one type of investing before you try and move onto the next. We see it all the time. An investor starts doing one thing, then hear about what the latest method is from some Guru and move onto that. Then before they make any money from that, another Guru comes along and entices them to move onto another strategy. Master one way of real estate investing before moving onto another form!

In Conclusion

There is no reason to reinvent the wheel. Learn from other investors, take action, write down your goals and make things happen. And lastly, just master one type of Real Estate Investing before you try and move onto something different.

If you are in the Atlanta area and are looking for wholesale real estate properties, be sure and visit our site to sign up for our email alerts when new properties become available.

 

 

 

Should You Start With Fix And Flips Or Buy And Holds?

The blog post Should You Start With Fix And Flips Or Buy And Holds? is courtesy of MPG Deals

Fix And Flip vs. Buy And Hold

When ever we meet people that are new to the Real Estate Investment business, we are often asked this one question, "should I buy and hold or fix and flip properties?". Well, there are a few things that you have to know and questions you must answer yourself before you choose. In this short article we will cover some info that will help you decide which path you should select.

The very first thing you have to take into consideration is your finances, and the money that you are going to use in your RE business. If you have a 9 to 5 job and make really good money and have some money, 100k or more saved up, you can probably do either one.

If you are an investor that has a significant amount of cash with a 9 to 5 the next thing you must consider is your skills for repairs and amount of time that you are able to devote to your investment. Time is a large factor, which we covered in the post "Tips For The New Real Estate Investor". Are you going to have time to oversee repairs for a fix and flip? Even if you have a buy and hold, it will eventually need repairs, so you will probably want to use the services of a property management company.

Unfortunately, most people don't have that kind of cash put away, so their options are more limited. So let's move on to breaking it down for what we recommend for new investors with limited funds.

Why Fix And Flip Investment Properties

For newbies that have a rather small sum of cash (20k - 50k) we always advise that you should do fix and flips before buy and hold. Why? Simple. By performing rehabs and quick turning these properties you will be able to quickly build a rather large sum of cash. Engelo Rumora just made a post in BiggerPockets.com that explains it the same way we see it:

Personally, I think you should not be buying and holding unless you have significant amounts of capital that will allow you to buy, fix, and hold or to buy and hold a property but still continue to buy, fix, and flip. Money makes money, and you need to stay liquid unless you are making millions and millions of dollars in your 9-5, you’re a dentist, you’re an attorney, or you’re a high executive at some company. Most of you are not those things. You’re making $50,000, $60,000, or $100,000 a year and working your butt off every single day. Be frugal. Save the $50,000 to $100,000 and then go into your first flip. Let’s just say hypothetically that you make $20,000 to $30,000 on that flip. In my opinion, that is very reasonable. Unless you are making 20 percent minimum margins on the flip, don’t even do the flip.

Buy & Hold When You Can Afford to Forget That Money

So you invest $100,000 hypothetically, you make a $30,000 profit, and then you do it again—and again. Now you should have around $190,000. Use $50,000 to $90,000 of that money and buy, fix, and hold. Set it and forget it. Let’s start getting some residual income and cash flow. You still have $100,000 in liquid capital to continue buying, fixing, and flipping.

Read The Full Article "Should You Buy & Hold or Fix & Flip Properties?"

We couldn't agree more with Engelo. We really like this model for people starting their own RE business and will really help people that are wanting to become a full time real estate investor. This could very well be an important part of creating your plan, which we outlined in "Tips For Becoming A Full Time Real Estate Investor".

Another reason we prefer new investors start with fix and flips is because of how difficult it can be to find and keep good tenants. If you borrow money to purchase a rental and you don't have a tenant in it, you are loosing money!

Asset Based Lending wrote an article back in February that explains:

Buy and hold properties are an investment that can be a “cash-cow” for investors, continuing to produce income every year, however, there are inherent disadvantages. Finding the right tenant may be a difficult feat, especially depending on the location of your property. Certain properties may attract difficult tenants based on the surrounding neighborhood. In situations such as this, it may be hard for you to collect your rent on a timely basis, if at all. Be sure to take the time to find good tenants who will take care of your property!

Continue Reading "Fix And Flip Or Buy And Hold?"

While we totally believe in the fact that rentals can be a "cash-cow" like they outlined, we know that keeping good tenants in a property can be pain staking. High turn overs can lead to many repairs as well as lost revenue for properties being empty. Again, if you borrowed money to purchase a rental, then it will take you a long time to see real amounts of cash flow, most likely not until the property is paid off.

Summing It All Up

Unless you have access to ample amounts of cash, as well as a 9 to 5 job, we think it's best for you start with fix and flips. Build your cash reserves, then and only then, start using some of your cash to purchase rentals while saving some of your cash reserves for fix and flips.

If you are in the market for either a fix and flip, or a buy and hold investment property, visit our site MPGDeals.com to find you next deal in Atlanta! Until next time :)

Tips For Becoming A Full Time Investor

The article Tips For Becoming A Full Time Investor Find more on: www.MPGDeals.com

So why are we putting up posts about news and tips for "new" real estate investors? Simple, there are constantly the big "Guru's" hitting cities every weekend telling people to get into the real estate game. So if you are new, we want to arm with you with the best information to help make your adventures in Real Estate more rewarding and successful. If you are a pro, or have a few deals under your belt, in the future we will have more posts geared towards you.

In our first post "Tips For The New Real Estate Investor", we touched on you making the commitment to become a full time real estate investor as well as making the choice to treat it as a business, even if you only have one rental property. In this post we will go a little farther indepth about how to make real estate investing your "full time job" and quit your 9 to 5.

Right off the bat, let's set things straight. You aren't going to be able to quit your job next week. Building a successful real estate business will take time. No pipe dreams here. However, if you are a stay at home Mom or Dad, you should be able to devote more time to your new business, depending how many children you have and how old they are :)

Make A Plan For Your Real Estate Investment Business

If you do have a 9 to 5 job, you will have to have a plan and not just wish that someday you will be able to quit and live the dream. This was covered pretty well by Mark Ferguson on InvestFourMore.com:

How do you actually quit your job and get into real estate full time?

The first thing you must if you want to quit your job is make a plan. You cannot wish that, some day, you will make enough money to quit and hope that day comes soon. You need to make a plan that states:

• How much money you have to make from real estate before you quit.
• How much money you need to have saved before you quit.
• How much passive income you need versus earned income.
• When you plan to have all this and what date you plan to quit.

By making a plan and setting goals, this will all become much more real and help you achieve it much faster. I also wrote a book to help you set goals, manage time, and be more successful. You can find it here: How to Change Your Mindset to Achieve Huge Success: Why your attitude and daily habits have more to do with making more money and having more freedom than anything else.

Another thing that will help people get into real estate faster is making money in the business. Rental properties are great for passive income, but buying them and building up a significant income from them can take time. If you can make money as a real estate agent or from flipping houses, you will be able to quit your job much faster. You will also be able to increase how quickly you buy rentals because you are immersed in real estate.

Read Mark's Full Post "How to Become a Full-Time Real Estate Investor"

There is a lot of really good info in that post, as well as a video where he explains his path. The thing we like most about his post is that he reinforces that you have to have a plan!

The next thing, which is really important especially if you are the bread winner in your home is - money. How much money do you need to quit your regular job? While Mark touched on a few things in his previous article, we also found some great advice on MashVisor.com:

3. Be frugal

Self-employment is a risky business and if you are planning to become a real estate investor full time, you better make sure to cut down on your expenses and not run out of money. Having a full time job gives you financial stability and a steady flow of income, but when you convert to running your own business, you have to make sacrifices in terms of what is important to buy and what is not. It is important to keep in mind that one month you might have great rental income, and next month you might be left with nothing (if you tenants leave).

4. Save before you quit

In addition to living frugally, a real estate investor also needs some capital, aka cash, to start his/her real estate investment business. Don’t quit your day job if you do not have enough savings as a financial buffer. Consider at least 6-12 months of savings before you quit your job.

Read the full article "When Can You Quit Your 9-5 Job to Become a Full Time Real Estate Investor? "

That is good advice. However, we know it will depend on how large your family is as to how frugal you will be able to be as well as how much you will be able to save.

Here is the good news. If you are wholesaling properties, you can quickly "stock pile" some cash. Our advice is to take those profits and reinvest that cash back into your business for more advertising such as digital marketing (our favorite), mailers and bandit signs. If you have the cash for fix and flips, you will be able to create more cash even faster, provided you don't drag your feet getting work completed and have high holding costs.

In Conclusion

It really is pretty simple to get into real estate investing full time, but will take some time. The most important things to do is have a plan, and save some cash! Now get out there and make it happen! And if you are looking for a fix and flip or buy and hold, check us out at MPGDeals.com

 

Collecting Rents On Your Rental Properties

The post Collecting Rents On Your Rental Properties is courtesy of MPG Deals LLC

A lot of inspired real estate investors get their start with rentals. Rentals can either be a cash cow, or a nightmare. What you have to decide right from the start is that it is a BUSINESS, like we covered in our first article "Tips For The New Real Estate Investor". Get this right from the start, and you will do better in the long run. In this article we will go over the most important thing in making your rentals profitable - Collecting Rent!

We are surprised at the number of people that just have tenants mail or drop off a check. This can lead to "I mailed a few days ago, the postman must have lost it", or the tenant is just to busy to bring you a check. Stop this! In this day in age there is no reason you shouldn't be taking payments on line or with some sort of system.

Chris Clothier just wrote an article that talks about this and gives good reason to convert:

What will impact your long-term cash flow is your resident services: things that help resident retention and help maintain quality residents. What do we mean? One, make paying rent easy. A lot of investors just assume residents can just drop off a check or cash with the property manager and that’s easy enough. But in this day and age, it’s really not. With most bills being automated and payable online, we have to catch up, too.

There are many platforms out there that allow managers to collect rent online: making it extremely convenient for your residents to pay on time. This prevents you from worrying with late payments as much. There are a lot of resident amenities that should be on your radar, from online rent payment services to something as common sense as on-site washers and dryers. Keep convenience at top-of-mind and you’ll find your overturn reduced and cash flow steady.

Read the full article "5 Tiny Details That Real Estate Investors Must See to Succeed"

Chris has a lot of other good points in that article. We suggest you read the entire piece because Chris is part of MemphisInvest, and the well known Clothier family team.

Now you maybe thinking, "where am I going to find a company or service to collect my rents?" Well, Sharon Vornholt (another investor whose advice we trust) just wrote an article that lists some great properties, as well as good info on choosing the right company for you:

The first thing you need to decide is just how much involvement you want in the process. I’m going to review some companies to help you decide.

When you are just starting out, you may not choose a full service management company due to the cost.

You might want to look at transaction companies that offer software and banking solutions. These allow you to be a more efficient DIY landlord. That may a place for you to start. You will still have to deal with the tenants in this situation.

But if time is your issue and you want a more hands off role to concentrate on building a business, there are companies like My Landlord Helper that fill the gap. I personally think this is a great solution for most people whether you are brand new or you’re a seasoned investor. Having someone take your tenant phone calls and do all of those repetitive tasks all landlords have to do takes YOU out of the day to day headaches. Not only does it let you focus on building your business, but it helps prevent landlord burnout.

Read the full article "Property Management Solutions for Landlords"

She goes on in here article to give you 5 companies to choose from depending on your needs. Of course, you can also do a Google search and maybe find someone local to help you with the level of assistance that you need.

The basic takeaway from this is that you need to catch up with the times and go digital for collecting rents. Whether you do it on your own with a credit card machine, an online service for collecting rents, or use a full service property manager. In the long run, it will help make your life easier by not having to worry as much about getting paid next months rent.

If you are in the market for an investment property in or around Metro Atlanta, be sure and visit our site MPGDeals.com to sign up for our early alert emails for when properties become available :)

Tips For The New Real Estate Investor

Tips For The New Real Estate Investor was first seen on http://mpgdeals.com

Are you new to the real estate investment business? Don't know where to start? Well luckily for you, you are in the right place to learn a lot about real estate investing. Through the coming months we will continually have new content with some of the best articles to learn how to get into, maintain, and grow your real estate investment business.

The very first thing you need to do is make the choice of whether or not you are running a business, or is it just a hobby? If you are serious about quitting your job and only investing, and even if you are just trying to gain some long term wealth, you need to treat your endeavor like a business. If it's just a hobby, better find something else because if you don't commit to it, you are likely to loose money.

The fact of making and treating it like a business was just covered in an article that we found and has some good points:

Treat Your Real Estate Investment Like The Business It Is

If you decide to take the plunge and become a real estate investor, you need to treat your new endeavor like the business it is. Real estate investing is a serious business, and you need to take it seriously.

New real estate investors often make the mistake of treating their properties as a hobby or a sideline. If you approach your real estate business casually, you will never achieve the best results. Take your business as seriously as you would any other professional undertaking, and get your new investment off to a great start.

Read The Full Article "Timely Tips For The New Real Estate Investor"

Good article, and it also goes on to talk about knowing your weaknesses and strengths, which is a must no matter what business you are in.

The next thing you have to know is how much time are you willing to put into this business? It's not like the TV shows where you are going to hit it big on your first deal. It will take time. No matter if you are marketing or have a realtor, you still have to look at properties to make judgement calls.

Time will be a big factor no matter if you are purchasing properties for buy and hold or fix and flip, time is a precious commodity. Akron Beacon Journal just published more on how time is a factor:

Real estate is often a time-consuming investment. Tenants pay good money to live in attractive rental properties, and those tenants will have a host of needs that must be met. Investors must be sure they have the time to address their tenants’ concerns, especially investors with no plans to hire property management firms. Potential investors who already have full plates at work and at home may not be able to devote the time necessary to make the most of their real estate investments, and therefore might be better off finding another way to invest their money.

Time also must be considered when considering profits. Real estate is not the type of investment that turns a profit overnight. Even investors who are looking to invest in an up-and-coming neighborhood must be prepared to hold onto their properties for at least a few years, if not much longer, to maximize their investments. Though real estate is a sound investment, it is not a get rich quick type of investment, so investors looking to make a quick buck should consider alternatives before buying investment properties.

Read The Full Article "Real Estate Investing For Beginners"

Good reading, even though the article is really only geared towards rental properties. They also go on to talk about how take into consideration your personal abilities, the size of your first investment as well as additional costs beyond the purchase price.

So as you can see, there are a few things that you need to consider and commit to before deciding on jumping in on the real estate investing band wagon :) However, if you are committed to the cause, then real estate investing could be very rewarding for you!

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Actionable Tips For Your Real Estate Investment Business

If you don't know us, Real Estate Investing is my family's passion. It's a great way of life. At times it allows us to do the things we want and visit places we want. However, there are times when it is work, work, work!  It’s not all like the TV shows make it out to be. Just like any other business, it requires your time and effort to succeed.

We are constantly being asked what tips we can offer for new investors. Well, there are a lot! If we were to sit down and make a list it would take a day or so, and then we would remember even more in the coming days.

I just came across this article today from Forbes that has a few of those tips that we would offer and more:

1. Don't Be Too Eager

When looking for your first investment property, it's critical not to "chase the deal." I often see first time investors overpay for property because they are so excited and want to get started. Always know your numbers, and never exceed the right purchase price during the excitement of an auction or when negotiating with home sellers. - Jeremy Brandt, WeBuyHouses.com

2. Spend Time At The Property

Sit in your car outside of the property from 6 a.m. to 9 a.m. and 9 p.m. to midnight before you commit to buying it. You will see what is really happening at the building and in the neighborhood during those times. - Lee Kiser, Kiser Group

3. Check The Property's Value

Anytime you purchase a property below the County Appraisal District, chances are you have hit a home run. Of course other factors come into play... repairs, updates, etc. However, follow this method and you will have the winning score. - Angela Yaun, Day Realty Group

4. Buy With Your Head, Not Your Heart

First-time investors don't have the luxury of purchasing an investment property on a "gut" feeling. In fact, you probably need to buy on a bigger margin to account for all the things you know, the ones you don't know and a buffer above and beyond that. Buying investment property can be expensive, so one or two bad choices can take you out of the game. Only buy if the numbers really make sense. - Tracy Royce, Royce of Real Estate

Read The Full Article “How To Ensure Your First InvestmentProperty Isn't A Bust”

There is a lot of good information in that entire article. Stay tuned for more info on what’s happening in the world of Real Estate Investing!