There is a lot of mystery surrounding the sale of a home. Many people don't know what happens after they accept an offer and before the transaction closes. Some are only concerned with what it is going to cost. Here we are going to lay out the timeline and explain exactly what happens. Keep in mind, there are going to be some slight changes depending where you are located and other transaction specifics. Ask a local realtor for the specifics, or contact Precision Home Group and we will make sure you get set up with the best Realtors in your area.

 

Accept an Offer

In order to start the process, we need to have an Accepted Purchase and Sale Agreement between you and the buyer. This can be stressful and take some time. I've seen…

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Buying a home can bring out a slough of emotions. It is a big decision, and there are many moving parts that must come together to make it happen. It’s both stressful and rewarding. You have looked forward to this for a long time and dreamed about it since you were a kid. It’s easy to get overwhelmed and make big decisions based on emotion, not logic. Here are several ways to keep your mind on track and keep things in check, so you make the most informed decision possible.

 Home Buying: Don’t Let Your Emotions Control You


1. Choose the Right Realtor

Picking a Realtor because they are your friend, they are nice or will give you a discount, is not the best choice. Ensure that the agent you choose to work with has the knowledge necessary to protect you and get the job done efficiently and…

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Real Estate Investment Trusts (REIT)

Part three of our Real Estate Investing Basics series is all about Real Estate Investment Trusts, also known as REITs. Let's dive in and discover what a REIT is, how they are used, and what the pros and cons are in comparison to the other real estate investments we have talked about.

 Real Estate Investing Basics: The ins and outs of REITs.

 

What is a REIT?

REITs were created by Congress in 1960. This was done to give everyday people the benefits of owning real estate. REITs are companies, treated by the IRS as corporations, who own various types income-producing real estate investments. Investors can buy into these companies by purchasing shares, which in many cases are publicly traded like stocks. They are modeled after mutual funds and bought and sold in…

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The 10 steps to Home Buying

 

Many people fear what they do not know. The same is true when it comes to buying your home. Many have not had the repeated experience of home buying to know what goes into the buying process, steps that need to be taken, or how to handle the emotional ties that come along with it. Below, we will outline the ten steps to buying a home, so you are prepared when you decide to move forward.

 

1) Realtor Locate and Buyer Consult

First, locate a trusted real estate expert. This can be done by reviewing realtors online through Google, Zillow, Facebook, Yelp and word of mouth from your friends and family. What is particularly important, is finding a Realtor. Despite often being used interchangeably, Realtors and real estate agents are not…

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In my last article, I cast a broad net and talked about the five most common real estate investments:

1. Flipping

2. REITS

3. Small deals (1-4 Units)

4. Big Deals (5+ Units)

5. Syndication

Today, we are talking about flipping real estate, the benefits and drawbacks that are associated with it, and a brief overview of what it entails.

 

Flipping

Simply put, house flipping is the act of buying a home and selling it at a higher price. This is typically done by finding a foreclosure, or a fixer-upper home that is in disrepair and needs a lot of improvements. It is then purchased, updated and fixed, then sold for a higher price than what was invested into it.  

 As TV shows like HGTV’s Property Brothers, Flip or Flop, or…

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Did you know that you can buy a duplex, triplex or fourplex with some of the most common residential mortgage loans available? You can purchase your first multi-family real estate investment, up to four units, with as little as 0% down with a VA loan, or 3.5% down with an FHA loan. Now, rates are changing every day -- and I’m a real estate agent and not a loan originator -- so, make sure to seek a loan originator out to get specifics.

I hear it every day, “Buy a fourplex and live for free!”

The idea behind it is that you can buy a fourplex, a four unit multi-family investment, have three tenants pay the mortgage and you can live in one for free. I've even heard people say that two units will pay the mortgage, one unit is profit and you…

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Real Estate Investing Basics Overview

We have all heard some type of quote about the success of real estate investing.

John Stuart Mill, a British political economist from the 1800s states “Landlords grow rich in their sleep without working, risking or economizing.”

Andrew Carnegie, the great American industrialist billionaire states “Ninety percent of all millionaires become so through owning real estate.”

And, to quote Louis Glickman, an American real estate investor, “The best investment on Earth is earth.”

We are told from a young age that investing in real estate, or at least buying a home, is a great idea. But, how do we do it? What are the different types of real estate investments, and how do they work? Can anybody invest? Do you have to start with millions of dollars,…

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Don't take real estate advice from your______________?

Don't take real estate advice from your... ?

Doesn't it seem like everyone will you give you advice when it comes to real estate? Whether it's your parents, grandparents, friends or neighbor, everybody has a piece of “wisdom” they’d like to share. We’ve all been guilty of taking advice from the wrong source. Usually, the truth is they think they are helping! But, when it comes to investments, it's important to get help from the right sources.

In order to analyze the advice given to you and guarantee its validity, make sure you consider the following:

1. Are they experts in their field?

2. Do they heed their own advice?

3. What are their results?

4. Have you found supporting research and facts?

First, we must ask if the advice is…

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