Dc Fawcett Tips for Absentee Landlords

Absentee landlords are those who buy a property and own it but are not present on the site of the property. Absentee landlordism has bonuses and minuses for both the tenants and the landlords themselves. In this article, Dc Fawcett, a real estate entrepreneur and mentor gives tips for absentee landlords.

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Guidelines for absentee landlords

You should get to know the locals

You should get to know some locals in the neighborhood of your home. These locals will help out during times of crisis and help you to keep a check on the property and the tenant. For instance: if the tenant is involved in a lock in, then the neighbor who has the key will help out. Also, he can give you information on what happens with the house, how the tenant is maintaining the house and how he behaves with the neighbors and so on.

You should hire a property manager

Property management companies take care of your responsibilities as a landlord and you should hire one as you don’t have the comfort of staying near your property. Before you hire a property management company, you should do some research. Check out track records, reviews and take references from friends and kith and kin. This is really important for you as you cannot supervise their activities. A property management company charges for their services. It will cost 10% of your rental income and make sure that you have profits. The general responsibilities of a project management company includes

  • Choosing tenants
  • Interacting with them
  • Organizing home showings
  • Marketing the home
  • Preventing your home from sitting for a long time in the market
  • Take care of emergency situations
  • Takes care of repairs

Personality development

As an absentee landlord, you should have certain characteristics. If you don’t have those, at least develop them.

  • You must be able to devote time to the job: You must have the ability to balance your personal life and your job. You must be able to manage all this from offsite. You must keep cool and practice great time management. You have to treat it like a full time job.
  • Don’t procrastinate and work hard and smart: Since you are your own boss, you should ensure that you don’t postpone the work. If you choose to waste time by idling, leisure activities or partying, you can never do good work and will hardly make any profits.
  • Positive attitude: you should have a positive attitude and you should be really self motivated.

Have a strong network of people

You should have a powerful network of people and friends. It is very important for an absentee landlord.

Conclusion

These are tips given by Dc Fawcett, a real estate investor and an expert in that field for absentee landlords. It takes a great deal of effort, courage, time and cost to be an absentee landlord. It involves risks as well as bonuses. For more on pros and cons of absentee landlords, read the articles by Dc Fawcett on the same.

Reasons Why Your Home Drives Away Potential Buyers – DC Fawcett

Introduction

Your home might sit in the market for a long time. The heartening thing is that your property can sell when are ready to adapt yourself to certain things. DC Fawcett says that It is important to question yourself what makes the buyer give priority to your home compared to the various other properties that are put for sale.

Reasons why your home drives away potential buyers

Now let’s see the reasons why your home is not selling:

  • It can be that you are not using professional photos. Generally the home buyers will have understanding of the home through the online photos. When the photos are in poor condition viz.,not having enough lighting, then the buyers will not be inclined to purchase the home.

  • It may happen that the agent is not the right choice. You must confirm whether the agent possessed a marketing strategy that fetched outcomes for other sellers. The key is that the real estate agent should possess sufficient experience in getting the desire outcome. He should be well-equipped with the current market trends and will also guide you on the elements that will have impact on your property’s sale. The legitimate agent should also contact you on a regular basis and keep you informed about the development. The key is that your agent uses a marketing strategy in such a way that there is utmost exposure.

  • When you work on a competitive price your marketing strategy will have a great impact. How much is the buyer inclined to pay? This question is the key to understanding the worth of your home. You can have a glance at earlier similar homes that were currently sold in your vicinity. You will be deciding upon a listing price. The essence is that you should ensure to confirm the real value of your property before this step.

  • Another reason that drives away potential buyers is that your home doesn’t have a curb appeal. At the very instance the buyers go through your driveway they will come to a conclusion whether to go for your house. You can develop an inviting ambience by concentrating on essential aspects including planting some flowers, leveling the grasses etc. Though the interior is very important to your house the exterior is also equally important.

  • It might be that you are not promoting your home appropriately through advertisement tactics. You may not have the photographic acumen or the writing skills. Do the advertising in such a way that your images and writing, which will be present in the brochures etc. don’t drive the buyers away.

  • Staging is one essential aspect for your home. But you should do it in such a way that you don’t fail in showing some issues. You may miss the sale when a prospective buyer is ready to buy the home but eventually finds issues at the time of home inspection.

 

Conclusion

Dc Fawcett  is proficient in the virtual real estate investing market and is the founder of the Virtual Real Estate Investing Club. He has sufficient experience in the field of real estate. One could get to know more about real estate through his free videos.

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Brace Up For Purchase In 2017 – DC Fawcett

Introduction

Finding a suitable home for you to live in could be the most complicated process, and there should be a meticulous approach towards the process of purchasing a home.  There are several criteria which should be taken into account such that the home buying process is made easier.  DC Fawcett says You need to emotionally brace up when purchasing a home and it needs much assistance from experts. Also, the formalities are like a maze through which a realty agent would guide you through. Make sure that you have all the necessary money in hand before you go out for purchasing of a home.

Brace up for purchase in 2017-dc fawcett

Now let’s see some points for purchasing a home in 2017.

  • There are a few fortunate people who can make the entire payment in cash. But for the others, financing comes to the aid. But, you need to furnish a decent credit to avail the mortgage.  Your ability to furnish a good credit score makes it possible for you to avail a mortgage.  When you cannot furnish a decent credit score, you might be turned down the mortgage.

  • When you avail of more loans, there is every possibility that the debt outweighs the credit. There are lucrative mortgages which would come up, and you should not miss it just because you have severe debt damaging your credit score.

  • You can get a fine picture of how much you can afford through the process of mortgage pre-approval. Just see to it that your pick of property caters to your budget.  Being conscious of every penny that you spend, you can ignore the properties that are beyond your affordability. Thus, you can avail of the option to purchase a property in the community that best suits your financial stand.

  • For the first time buyers, there is no inkling of a doubt that, for the financing to be done, a mortgage lender has to be approached for consultation. You need to come to terms with the money you can afford and then get into the process of buying a home. You need to have a sound knowledge of the market in the vicinity.  You know your priorities better when you work with a realty agent.

  • Always there is a prevalent uncertainty about the value of the houses, but when you make an informed decision to purchase a home, you are happily in the home thereafter.

  • The price you have to pay for financing the home buying generally exceeds the home’s actual value. Be versatile regarding the mortgage alternatives and other expenditures.

  • The house may be offered for a certain price for which much care is given. The proposal to purchase a home involves both the cost and the terms.  The terms require much additional amount to be shelled out in certain instances.

  • Retaining a property without insurance is one of the most foolish things that one could do. The insurance acts as a shield during untoward incidents that affect and damage the property.

  • The closing process comes with different terminologies as Settlement or Escrow. It is no more manual in most of the places, and there is increasing computerization of the process.

  • The process of home purchase requires you to be financially sound. Following the steps that are listed above will make things easy for you to purchase a home.  A bitter surprise should not spring on you, and you need to take every measure to see to it that you clear the process in a hassle-free manner.

Conclusion

DC Fawcett is a real estate expert and you can get to know about the various aspects of real estate through his free videos too.

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Listing An Income Property (Aspects To Be Considered) – DC Fawcett

Introduction

Investment in an income property is no easy job. It requires lot of time, dedication, to achieve success in this deal. With the greater variations of stock market the public are more attracted towards making investment in real estate. You can earn a lot of profit through rentals and getting the appropriate rental property requires you to do the necessary homework diligently. DC Fawcett says that You have to have an appropriate investment plan before getting deep into the process.

Listing an Income Property (Aspects to be considered)

  • You would have contemplated on listing your income property for the purpose of selling it off. In this process, your investment portfolio will not have it. Here then, you have to ensure its overall performance since possessing the property. You can ask questions including whether the tenants don’t default their payments etc.

  • When you sell off the property you will be making profit. Here then you should be ready to expend money on capital gains tax on this specific profit. The taxes will have an effect on your profit. However you will be provided with some other alternatives for the deferring of the taxes. Here the income from the sale will not go to your bank account. On the contrary it will set aside as an escrow. In the meantime you would be scouting for different investment properties.

  • You may be having your tenants living in the property. Here then you can carry out with the sale in few other methods. Once the term of lease expires you can implement the sale, given that the tenant goes out.

  • It’s prudent to carry off the listing process when the tenant is residing in the property.

  • You will be listing a residential property but listing an investment property has different scope. Primarily the audience is not the same for these both. So the key is to do a market research and market it appropriately. Come to a conclusion as to the right method to reach the potential buyer and in the process you can obtain the highest bid.

  • There will be a marketing description that is needed for your income property. So while advertising it can encompass gross annual rents, nature of zoning etc.

  • You should analyze all the advantages and disadvantages of selling your income property. This you should do after deciding on whether it is a good choice to sell. Later you can consult a real estate agent who is experienced in the real estate industry and who has worked with selling large number of investment properties. The real estate agent should be a legitimate one and your association will obtain the best price in the market. With the right mindset and tactics you can market your investment property in an efficient manner. You will be getting a profit out of this and you can channel it into your subsequent financially efficient investment.

Dc Fawcett is the founder of Virtual Real Estate Investing Club. Through this you will explore what’s favorable in the current real estate investing market.

Flipping houses – Is it as easy as it appears? by DC Fawcett

One might have come across advertisements showing how making money through real estate is a very easy task.  One might also have come heard seminars in radio which guarantee flipping of houses without one’s own money.  Also, there are sponsored posts in the Facebook which say that it is very easy to flip house with no money at all. DC Fawcett says  When one comes across the word ‘Easy’, one needs to be very cautious.  One who is well-versed in realty might know that real estate is not that easy as one thinks.  As a matter of fact, if one has to become wealthy, and successful, it is not an easy task.

Flipping-houses---Is-it-as-easy-as-it-appears

One might have acquired millions of dollars, but it demands work to manage the wealth and retain it.  That is the reason why majority of people who acquire huge wealth turn bankrupt in a matter of years.  One might be waiting for the easy way to succeed, but you will just keep waiting for a long time to achieve the success.  Investing in real estate provides wonderful opportunities for people to acquire wealth, but it is not an easy task.

Variety of real estate investing techniques – How easy is it to make money -DC Fawcett

There are umpteen ways to make money in real estate.  There are some very easy methods to put money into real estate, but those methods will not make one rich.  They can give you a decent value in return for the money that is already saved.

  • Real Estate Crowd Funding:

One of the most noted ways to invest is through crowd funding.  One can put in small amounts of money via crowd funding companies.  These companies then pool the money with other investors to make a larger investment.  This investment changes hands to flippers or other developers in real estate.  One may be able to get huge amount with crowd funding, but there would be a lot of money to get affluent via that return.  For those who are starting up, crowd funding can be comparatively easy.

  • Putting money into REIT:

There are the turn-key rental properties.  These are rentals that can be purchased and are already rehabbed, managed and rented by a property manager.  These are particularly situated in high cash flowing areas and demand less work.  However, there are difficulties with occupants, repairs and bad turn-key companies.  One might own a turnkey property. Purchasing a turnkey property could be easy, but one should be intelligent enough in selecting the company.

  • Being partner with other real estate investors:

Yet another option to put money into real estate is to partner with active investor.  One among the partners may lend money for a particular deal, while the other partner fixes the deal, completes the rehab and disposes the property.  One could lend money or retain equity position also. Partnering can be an easy way to put money if one is just into providing the money.  One has to be discreet enough in choosing the right partner and the appropriate properties to lend on.

Conclusion:

One has to be very careful when he or she hears that flipping houses is very easy.  Usually, there is the possibility of high priced sales pitch arriving soon.  One has to be realistic and rational as much as possible, and steer clear of cunning marketing techniques that take people for a ride.  Flipping is extremely difficult, and making huge money is difficult.  Also, running a business is a herculean task.  Performing things that are difficult and coming with results is the best prestige that could be accorded to a person.  It makes life a lot easier.  As flipping houses may not be very easy, it does not mean that you cannot carry it out.  It takes some amount of time and arduous work from the individual.

Dc Fawcett , the founder of the Virtual Real Estate Investing Club, provides a fair idea on how easy it is to make money flipping houses.  One can go through the blogs by him to understand the real estate scenario better.