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Do you know how to determine the true value of your home in Philadelphia? Whether you are selling your house or not, its a good idea to keep tabs on the value of your home. We can help! Learn how to do it in our latest post! Many sellers think they know what their house is worth but in many cases, their numbers can be off. It is never as simple as relying on Zillow or your property appraiser to tell you how much to sell your house for. Before you decide whether to sell your house directly or hire an agent, you’ll want to determine on your own what you believe it to be worth. There are a few things you can do to get an accurate value of your house in Philadelphia. Run A CMAA Competitive Market Analysis or CMA, are often prepared by real estate agents, however, it isn’t anything you can’t do on your own. A CMA will take information from recently sold properties in your area, and provide you with an estimate on what your house will currently sell for. The information can be found on any site that shares MLS data such as Zillow or Trulia. You should look at at least three similar properties, comparing them to yours, and adding and subtracting for things like the number of rooms, lot size, and square footage. Average out the sale prices to determine a good base point for the value of your house in Philadelphia. Many agents will provide you with a CMA free of charge. Just make sure there isn’t a catch, obligating you into a listing you don’t really want or need. Online CalculatorsThere are many great tools out there that will help you determine the value of your home. These calculators can only work based on the information you provide, so make sure your facts are accurate. Some of the sites you can use include Chase, Zillow, Redfin, HomeGain, Remax, and Realtor.com. Make sure to look at a few of these sites, so you can compare the numbers and determine an average. No site is completely fool-proof, and your value might vary a bit from site to site. The calculators may tell you one thing, but at the end of the day it really comes down to supply and demand. Hire An AppraiserWhen you are still questioning the value of your property, hiring an appraiser can give you the professional opinion you need. An appraisal can be performed for just a few hundred dollars and will give you valuable insight into the value of your home. Before choosing an appraiser for your property, take some time to do some research. What are their experience levels and specialities Many sellers will schedule appraisals and inspections before putting their homes on the Philadelphia. This will help them know what their property is worth and what challenges they might run into once a buyer is found. A professional appraisal can also help if you are challenging the about you are being assessed for property taxes. Many times people will feel as if they are being charged too much for their Philadelphia property taxes. Having an appraisal done by a licensed Philadelphia area appraiser will help you effectively challenge your local property appraiser if needed. Watch The MarketProperty values fluctuate. You can ofter discover trends when you study home values over time. Your property may be worth more in the summer than it is in the winter, or vice versa. While this isn’t true for every property, some property values will fluctuate based on the season, demand, and availability. As a homeowner, it’s important to always keep your eye on the market. This will help you sell at the time of year that will be the most profitable for you so you can sell your house for as much as possible. What To Watch Out For…Keep in mind that it is not unheard of for an agent to inflate the asking price in order to get a signed agreement. By knowing the value before going into a sale, you will have the upper hand and will ultimately be able to receive the best outcome when selling your Philadelphia house. Don’t forget about the land your property is sitting on. Some locations are more valuable than others. While double and triple lots will be worth much more. Make sure the land is buildable and doesn’t have any problems that can lower the value of your property. If you opt to have an agent create a CMA for you, make sure all of the data provided is correct. You’ll want to check everything out for yourself to ensure accuracy in your valuation. Let us help you determine the true value of your home in Philadelphia! Contact us today for more information! (215) 882-9828via WordPress https://ift.tt/32PN5Xh Do you want to learn more about multi-family investment properties in Philadelphia? Check out our post for some of the pros and cons! Multi-family investment properties can help to grow your real estate portfolio. In fact, many people use owner-occupied multi-family properties to begin their investing careers. By living in one of the units of the building yourself, you will be able to purchase the property (up to 4 units) with an FHA loan and a low down payment. The rent you are charging the other tenants in the building should pay your mortgage as well as many other costs of ownership. In essence, you will be able to live for free while building equity and saving money. Win. Win. Win. Below, we discuss the pros and cons of owning multi-family properties. Not just owner-occupied ones, but properties that are completely tenant occupied as well. Learn more about what’s involved than give us a call to find the best deals on multi-family properties in Philadelphia! ProsLower Vacancy RatesWhen you have your eggs in more than one basket, a vacancy won’t be as big of a deal. Look at it like this. You could have one single-family home in which you collect $2,000 per month in rent. If your tenant moves out, you are collecting nothing. Or you could have a duplex, with each unit renting out for $1,000 each month. If a tenant moves out, you will still be making $1,000, which is much better than $0. Low Funding CostsFHA loans are the low down payment alternative to a conventional mortgage. You can use an FHA loan to buy a house or you can use it to buy an investment property with up to four units. Using this strategy will require you to use one of the units as your primary residence, but only for 12 months. After that, you can rent out the entire building, quickly building equity and paying off your mortgage. Lower Maintenance CostsWhen making major repairs or renovations, it can be more cost-effective to repair things once as opposed to two or three times. Let’s say the roof needs to be replaced on your triplex. You do it once and you won’t have to worry about it again for quite a few years. On the other hand, if you have 3 houses, you will be looking at roof repairs much more often. This can not only cost more but take up a good amount of your time too when you consider all of the repairs a property often needs. ConsMore WorkWhen you have a multi-family property, you will be dealing with more than just one tenant. You will get repair calls more often and will possibly have to mediate disagreements between neighbors. TurnoverPeople don’t always see a multi-family property as somewhere they plan on being for a long time. It is typically more transitional, which mean more turnover for you. You will have to screen more tenants, professionally clean more often, and can potentially lose out on more rental income than you would with a stable tenant in a single-family property. Less PrivacyIf you opt to use an FHA loan to purchase an owner-occupied investment property you will have to live on site for a year. This gives your tenants the ability to contact you any time day or night. Hopefully, you have tenants that will respect your space and your privacy. When you have the right people in place, owning a multi-family investment property can be your key to building wealth through real estate. Let us help you find the best multi-family investment properties in Philadelphia! Get in touch with us today for more information! (215) 882-9828via WordPress https://ift.tt/2Z3hWgH Do you own land in Philadelphia? Liquidating the property doesn’t have to be a long and drawn out process. When you need to sell land fast in the Philadelphia area, our team is ready to buy! Selling your land in Philadelphia can be a quick and easy process! However, there are some things you should know before hanging up your “for sale” sign. Working with a direct buyer such as Rapid Home Liquidation will make the process of selling your land simple and fair. Learn more about how easy it can be in our latest post! Future DevelopmentThe value of your land can be severely impacted by future development in the area. Things like schools, big box retail, and the rise of nearby housing developments can all impact what your land is worth in Philadelphia. Make it a point to stay on top of the real estate market in your neighborhood. Always know about future development as well as how home and land values are being affected. If the shows that values are rising, make sure that you share this information with potential buyers. Building RestrictionsBefore putting your land up for sale, you need to make sure there are no building restrictions on the land. Soil condition, flood zones, endangered animals, and zoning can all have an impact on what you are allowed to do with your land. You’ll want to let potential buyers know of any hurdles they will have to face when building in Philadelphia. While it’s the buyer’s responsibility to do their due-diligence, you don’t want to have to deal with an angry buyer who isn’t able to do what they want with the land. Development CostsHow much would it cost to develop the land yourself? In some markets, you are able to build a house cheaper than in others. Doing this can be risky, as you have no guarantee of return. However, if the development costs are low, and you are able to sell high, big profits can be made. Make sure to consult with construction professionals, your accountant, and your lawyer before breaking ground on a house in Philadelphia. Property PotentialDo you know the highest and best use of the property? Your potential buyers will want to know. If you want to capture buyers attention, let them know what could be. Take a look at what is happening in your neighborhood and consult a professional to give you a better idea of what can be done with the land. You can even have professional renderings created showing what a house, commercial, or multi-family property would look like on the land. Sometime your prospective buyers will need some help using their imagination to see the true potential of the land. Who Your Buyers AreOnly specific people are typically looking for land in Philadelphia. There are those looking to buy and hold or flip. There are those who want to buy and develop themselves to rent or sell, and there are those who want to build their dream home on a piece of land that they picked out. When thinking about the land you want to sell, which kind of buyer do you think you are most likely to attract? Not everyone is in the market to buy land. It can be much more difficult to find a buyer for your land in Philadelphia than it is to find a buyer for a house. Investors don’t always show interest in land as they are looking for something with a faster return. And not everyone is up to the task of building a home on their own. Even if you don’t ever swing a hammer yourself, managing the process can be overwhelming. Selling your land in Philadelphia can be simple! Contact us today for more information! (215) 882-9828via WordPress https://ift.tt/2GjiRBZ We’re going to let you in on a little secret about real estate investing: there is no “best investment” overall, in any market. What makes a “best investment” for one investor would make a terrible investment for another investor. The truth is, there are many factors to choosing the best investment property in Philadelphia Pennsylvania. Understanding the factors that go into this choice and optimizing them for your situation is the best strategy to influence how quickly you’ll reach your investing goals. We at Rapid Home Liquidation have been investing for a long time and we’ve collected together some of the best factors that contribute to choosing the best investment properties… and you’ll find that these are true no matter what market you invest in. Strategies for choosing the best investment property in Philadelphia PAStrategy 1: Know your investing goals The most important factor to your investing success is to know what you want to get out of investing in the first place. Before you invest anything, sit down and carefully think about the following: How much money do you want to make? When do you need that money by? Do you need the money in a steady stream (from cash flow) or as a windfall (from an appreciation-based sale)? Are you looking to quit your job and fund your current lifestyle or do you want money for retirement? Clearly outlined investing goals are essential to helping you decide which investment properties are right for you. Strategy 2: Know yourself Once you’ve figured out what you want, then you need to figure out how your own personality, skills, strengths, weaknesses, and risk tolerance will contribute to (or detract from) your goals. As you uncover each fact about yourself, you’ll shed light on how you can invest in a way that is right for you. For example, if you want to buy real estate but don’t have the cash or credit, that’s something to think about. (It doesn’t mean you can’t invest, it simply means you have to figure out how to do it differently than if you had your own cash to use). Or here’s another example: If you are working at a full-time job and love it and don’t want to quit that job then you need to find real estate investments that are managed for you (such as turnkey real estate investments). Perhaps the most important question about yourself is: “What can I give in order to achieve my goals?” For some people that is money, for others it’s time, for others it’s effort. Strategy 3: Know the market Once you know what you want and a bit about yourself, then you will start to have a pretty good idea about what kinds of investment properties will work for you and what won’t. If you narrow down multifamily and commercial property investments then you can start focusing your time on single family properties. But narrow your scope even further and start to look within a geographic area, such as Philadelphia PA. As you review your specific type of investment (such as single family homes) in your specific geographic market, you’ll soon develop an expertise in your market, allowing you to spot great deals and bypass bad deals. Resist the temptation to spread yourself too thin among too many markets: A focus on just one or two markets may not present you with as many deals as you might normally like but you’ll be able to spot great deals sooner because of your familiarity. If you decide that you want to focus on a market like Philadelphia Pennsylvania then fill out the form here to let us know because we’re always finding deals in the area! Strategy 4: Know your team Next, it’s time to start thinking about your team and who needs to be on it. For some investors, this might include real estate agents, contractors, attorneys, accountants, and more. A lot of investors who work with us at Rapid Home Liquidation consider us a part of “their team” because we help them find the deals they’re looking for. Whoever you choose to be on your team, remember this: The answers you give to the first 3 strategies (above) will determine who will be on your team. Want to fast-track this process? We can help. Talk to us about your investment property strategies and we can help you find the deals you want. Just give us a call at (215) 882-9828 or fill out this web form.via WordPress https://ift.tt/2Z2r19i There are many great reasons why you should use a rent to own contract when selling your house in Philadelphia. Learn more about what selling your Philadelphia house in this manner can mean for you! Using a rent to own contract is often overlooked by homeowners looking to sell a house in Philadelphia. Many people fear becoming a landlord, however, the rewards can be much greater than that of a standard rental property. The tenant is more likely to treat the property with respect. You are more likely to get your rent on time. And you are more likely to get your asking price for your house in Philadelphia. Don’t write off a rent to own contract when selling your house in Philadelphia until you run the numbers and find out what selling this way can mean for you. A Fast SaleUsing a rent to own contract to sell your house in Philadelphia opens up your property to a whole new pool of buyers. There are tons of people out there who are eager to buy, and who will have no problems paying you. However, something is holding them back from obtaining a traditional mortgage. While some people simply lack the funds for a down payment or the credit to qualify for a loan, there are many other situations that can affect a persons ability to buy a house in the traditional manner. For example:
Everyone gets into a difficult spot at one point or another. By selling your house via rent to own contract, not only will you receive many great benefits for yourself, but you will also be able to help someone reach their dream of homeownership. Cash UpfrontA down payment or option fee is often required by the home seller. This fee varies by contract, but it can be anywhere between 2-7% of the purchase price. Remember that if your buyer is having trouble coming up with a down payment for a traditional mortgage, they might have trouble coming up with a large down payment for you. Keeping this fee low will help you attract more potential buyers to your property. That said, you do want to include an option fee as a sort of security deposit to make sure your buyers don’t simply walk away from the property. Get Your Asking PriceWhile a traditional home sale price is often negotiable when you work with a buyer using a rent to own contract, the seller will often have the upper hand. Most buyers will be willing to pay what you’re asking in order to get a chance at buying a home. Properties that sell in the traditional manner are often sold for much less than they were originally listed for. Once the repairs and negotiations are completed, homeowners will often find they aren’t making anywhere near as much as they had hoped. Consistent Income Each MonthSelling your house via a rent to own contract will provide you with consistent, guaranteed income each month. Your lease will specify the terms of the agreement, but for the next couple of years, you will have a guaranteed rental income that you can rely on. Your tenant is much more likely to pay their rent on time as they have a genuine interest in the property. In addition, the rent charged each month is often greater than standard rental properties in the same area. While in many contracts a portion of the rent is designated to the buyers future down payment, if your tenant/buyer defaults on the agreement, the option fee, and the increased rent are yours to keep. Low RiskA rent to own contract carries very little risk for homeowners. Tenants have a genuine interest in the property, helping them to refrain from damaging the house or skipping required maintenance. They want to keep the house as nice as possible as they will eventually be the rightful owner. If anything, you are likely to find your tenants fixing up the property as opposed to wearing it down. If the buyer defaults on their payments, you may lose the seller, but you will have gained income as opposed to just letting the house sit on the MLS. All monies paid toward the house will belong to you, and the house will be back in your hands. You might be back where you started, but you won’t have taken any hit financially. Use a rent to own contract to sell your house in Philadelphia! Contact us today for more information!via WordPress https://ift.tt/2Z2Zch5 We’re going to let you in on a little secret about real estate investing: there is no “best investment” overall, in any market. What makes a “best investment” for one investor would make a terrible investment for another investor. The truth is, there are many factors to choosing the best investment property in Philadelphia Pennsylvania. Understanding the factors that go into this choice and optimizing them for your situation is the best strategy to influence how quickly you’ll reach your investing goals. We at Rapid Home Liquidation have been investing for a long time and we’ve collected together some of the best factors that contribute to choosing the best investment properties… and you’ll find that these are true no matter what market you invest in. Strategies for choosing the best investment property in Philadelphia PAStrategy 1: Know your investing goals The most important factor to your investing success is to know what you want to get out of investing in the first place. Before you invest anything, sit down and carefully think about the following: How much money do you want to make? When do you need that money by? Do you need the money in a steady stream (from cash flow) or as a windfall (from an appreciation-based sale)? Are you looking to quit your job and fund your current lifestyle or do you want money for retirement? Clearly outlined investing goals are essential to helping you decide which investment properties are right for you. Strategy 2: Know yourself Once you’ve figured out what you want, then you need to figure out how your own personality, skills, strengths, weaknesses, and risk tolerance will contribute to (or detract from) your goals. As you uncover each fact about yourself, you’ll shed light on how you can invest in a way that is right for you. For example, if you want to buy real estate but don’t have the cash or credit, that’s something to think about. (It doesn’t mean you can’t invest, it simply means you have to figure out how to do it differently than if you had your own cash to use). Or here’s another example: If you are working at a full-time job and love it and don’t want to quit that job then you need to find real estate investments that are managed for you (such as turnkey real estate investments). Perhaps the most important question about yourself is: “What can I give in order to achieve my goals?” For some people that is money, for others it’s time, for others it’s effort. Strategy 3: Know the market Once you know what you want and a bit about yourself, then you will start to have a pretty good idea about what kinds of investment properties will work for you and what won’t. If you narrow down multifamily and commercial property investments then you can start focusing your time on single family properties. But narrow your scope even further and start to look within a geographic area, such as Philadelphia PA. As you review your specific type of investment (such as single family homes) in your specific geographic market, you’ll soon develop an expertise in your market, allowing you to spot great deals and bypass bad deals. Resist the temptation to spread yourself too thin among too many markets: A focus on just one or two markets may not present you with as many deals as you might normally like but you’ll be able to spot great deals sooner because of your familiarity. If you decide that you want to focus on a market like Philadelphia Pennsylvania then fill out the form here to let us know because we’re always finding deals in the area! Strategy 4: Know your team Next, it’s time to start thinking about your team and who needs to be on it. For some investors, this might include real estate agents, contractors, attorneys, accountants, and more. A lot of investors who work with us at Rapid Home Liquidation consider us a part of “their team” because we help them find the deals they’re looking for. Whoever you choose to be on your team, remember this: The answers you give to the first 3 strategies (above) will determine who will be on your team. Want to fast-track this process? We can help. Talk to us about your investment property strategies and we can help you find the deals you want. Just give us a call at (215) 882-9828 or fill out this web form.via WordPress https://ift.tt/30KyN8a Do you own land in Philadelphia? Liquidating the property doesn’t have to be a long and drawn out process. When you need to sell land fast in the Philadelphia area, our team is ready to buy! Selling your land in Philadelphia can be a quick and easy process! However, there are some things you should know before hanging up your “for sale” sign. Working with a direct buyer such as Rapid Home Liquidation will make the process of selling your land simple and fair. Learn more about how easy it can be in our latest post! Future DevelopmentThe value of your land can be severely impacted by future development in the area. Things like schools, big box retail, and the rise of nearby housing developments can all impact what your land is worth in Philadelphia. Make it a point to stay on top of the real estate market in your neighborhood. Always know about future development as well as how home and land values are being affected. If the shows that values are rising, make sure that you share this information with potential buyers. Building RestrictionsBefore putting your land up for sale, you need to make sure there are no building restrictions on the land. Soil condition, flood zones, endangered animals, and zoning can all have an impact on what you are allowed to do with your land. You’ll want to let potential buyers know of any hurdles they will have to face when building in Philadelphia. While it’s the buyer’s responsibility to do their due-diligence, you don’t want to have to deal with an angry buyer who isn’t able to do what they want with the land. Development CostsHow much would it cost to develop the land yourself? In some markets, you are able to build a house cheaper than in others. Doing this can be risky, as you have no guarantee of return. However, if the development costs are low, and you are able to sell high, big profits can be made. Make sure to consult with construction professionals, your accountant, and your lawyer before breaking ground on a house in Philadelphia. Property PotentialDo you know the highest and best use of the property? Your potential buyers will want to know. If you want to capture buyers attention, let them know what could be. Take a look at what is happening in your neighborhood and consult a professional to give you a better idea of what can be done with the land. You can even have professional renderings created showing what a house, commercial, or multi-family property would look like on the land. Sometime your prospective buyers will need some help using their imagination to see the true potential of the land. Who Your Buyers AreOnly specific people are typically looking for land in Philadelphia. There are those looking to buy and hold or flip. There are those who want to buy and develop themselves to rent or sell, and there are those who want to build their dream home on a piece of land that they picked out. When thinking about the land you want to sell, which kind of buyer do you think you are most likely to attract? Not everyone is in the market to buy land. It can be much more difficult to find a buyer for your land in Philadelphia than it is to find a buyer for a house. Investors don’t always show interest in land as they are looking for something with a faster return. And not everyone is up to the task of building a home on their own. Even if you don’t ever swing a hammer yourself, managing the process can be overwhelming. Selling your land in Philadelphia can be simple! Contact us today for more information! (215) 882-9828via WordPress https://ift.tt/30R9ZM5 Do you want to learn more about multi-family investment properties in Philadelphia? Check out our post for some of the pros and cons! Multi-family investment properties can help to grow your real estate portfolio. In fact, many people use owner-occupied multi-family properties to begin their investing careers. By living in one of the units of the building yourself, you will be able to purchase the property (up to 4 units) with an FHA loan and a low down payment. The rent you are charging the other tenants in the building should pay your mortgage as well as many other costs of ownership. In essence, you will be able to live for free while building equity and saving money. Win. Win. Win. Below, we discuss the pros and cons of owning multi-family properties. Not just owner-occupied ones, but properties that are completely tenant occupied as well. Learn more about what’s involved than give us a call to find the best deals on multi-family properties in Philadelphia! ProsLower Vacancy RatesWhen you have your eggs in more than one basket, a vacancy won’t be as big of a deal. Look at it like this. You could have one single-family home in which you collect $2,000 per month in rent. If your tenant moves out, you are collecting nothing. Or you could have a duplex, with each unit renting out for $1,000 each month. If a tenant moves out, you will still be making $1,000, which is much better than $0. Low Funding CostsFHA loans are the low down payment alternative to a conventional mortgage. You can use an FHA loan to buy a house or you can use it to buy an investment property with up to four units. Using this strategy will require you to use one of the units as your primary residence, but only for 12 months. After that, you can rent out the entire building, quickly building equity and paying off your mortgage. Lower Maintenance CostsWhen making major repairs or renovations, it can be more cost-effective to repair things once as opposed to two or three times. Let’s say the roof needs to be replaced on your triplex. You do it once and you won’t have to worry about it again for quite a few years. On the other hand, if you have 3 houses, you will be looking at roof repairs much more often. This can not only cost more but take up a good amount of your time too when you consider all of the repairs a property often needs. ConsMore WorkWhen you have a multi-family property, you will be dealing with more than just one tenant. You will get repair calls more often and will possibly have to mediate disagreements between neighbors. TurnoverPeople don’t always see a multi-family property as somewhere they plan on being for a long time. It is typically more transitional, which mean more turnover for you. You will have to screen more tenants, professionally clean more often, and can potentially lose out on more rental income than you would with a stable tenant in a single-family property. Less PrivacyIf you opt to use an FHA loan to purchase an owner-occupied investment property you will have to live on site for a year. This gives your tenants the ability to contact you any time day or night. Hopefully, you have tenants that will respect your space and your privacy. When you have the right people in place, owning a multi-family investment property can be your key to building wealth through real estate. Let us help you find the best multi-family investment properties in Philadelphia! Get in touch with us today for more information! (215) 882-9828via WordPress https://ift.tt/30QZYhT
Moving Out Of State How To Sell Your House Fast In Philly - (215) 882-9828 by We Buy Houses Philadelphia Pennsylvania
http://ift.tt/2gHQcec If you are getting ready to relocate and move out of state then you are probably looking to sell your current house. If you don't want to list it with a real estate agent and sell through the traditional route, then our alternative home buying program may be of interest to you. Click the link below to get an instant free quote on your home today. We buy Philly houses fast for cash in seven days! http://ift.tt/2gHQcec via YouTube http://youtu.be/PUmX9s0wxQE |
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