Buying Realtor You want to find a realator who specializes in selling foreclosed properties for banks. These realtors work for one or more banks. They work on a volume basis they have to turn multiple properties a month to make a profit. Ask for people who buy and sell houses which realtors are in this business.
Mortgage Professional I do not endorse any lender over another, but I do get financing from Wells Fargo and Countrywide, two of the largest mortgage lenders. Your mortgage broker must be up to date with the change in the market. Many times the mortgage professional at larger lending institutions will be more capable of adjusting to this market and the changing needs of it. You need a mortgage professional who will be honest with you and work quickly for you. Today's mortgage market is different than it was 1 month ago, 5 months ago, 1 year ago.
Selling Realtor If you get the right buying realtor, they will not have time to sell your home. He will be too busy listing properties for the bank. You want to find a realator that will get you the most money in the shortest time. This is a business where if a house must sell quickly to make the maximum amount. You want a realator who can get you the right price, too low you lost money on the sale too high the property will sit costing you interest and utility payments.
Home Inspector A good home inspector can keep you from making a big mistake. Simple tests can keep you from buying a home with a mold or asbestos problem. It is better to find out now than after you spend twenty thousand remodeling the home.
Contractor The contractor controls the pace of work. The contractor also spends your money for you. They help you to develop and adhere to a budget. As the investor, a lot of what you need to know to buy wisely is learned by working with your contractor. Some people walk into an investment property, see holes in the walls and ceilings, and get scared off. I walk in, see those same holes, and know that for $400-$1,000 there are no more holes in the walls, the plumbing is repaired and I can move onto another phase of my renovation.
Suppliers Don't buy retail you can save twenty to forty percent buying from a building supplier instead of Home Depot. Plus they usually deliver for free. Look them up in the phone book under "Building Suplies" To get an account, you need a company name, a credit card and a bank account, that's it. Don't buy retail!
CPA This is not where you want to save money with turbo tax. An experienced CPA will help you save thousands. Make sure they are familiar with real estate investing. Also don't wait till after the first of the year. sometimes you can make changes in Nov and Dec that will salve you thousands. Make sure they have degree in accounting, they don't actually have to be a CPA.
Attorney They can help you decide whether you should incorporate, form an LLC or go it alone as a sole proprietor. A real estate attorney can save you money on title work, can draw up rental/ lease agreements and can advise you on tax strategy when buying and selling your real estate. If you buy a commercial building a real estate attorney is a must.
Insurance Agent Like all other team members, it is key to find an agent that you know and trust to handle your real estate insurance needs. You need to ask tough questions to your agent and consider what your exposure will be to loss from fire, flood, theft, or injured workers/ tenants. If your policy leaves you exposed in any one of these major areas, your work could all be done for nothing.
Friends & Family Friends and family: two of the greatest words in the home renovation language. They will often offer you hours of unsolicited advice (often good advice) and hours of free labor. Jobs like light demolition, painting, cleanup and many yard projects can be handled by anyone who owns a home. Therefore if you have friends and family you have a light work crew. If you feed them well, provide a frosty beverage or two, and don't overwork them, the friends and family work crew will have fun, make your job more fun and most importantly work for free. - 15252
Mortgage Professional I do not endorse any lender over another, but I do get financing from Wells Fargo and Countrywide, two of the largest mortgage lenders. Your mortgage broker must be up to date with the change in the market. Many times the mortgage professional at larger lending institutions will be more capable of adjusting to this market and the changing needs of it. You need a mortgage professional who will be honest with you and work quickly for you. Today's mortgage market is different than it was 1 month ago, 5 months ago, 1 year ago.
Selling Realtor If you get the right buying realtor, they will not have time to sell your home. He will be too busy listing properties for the bank. You want to find a realator that will get you the most money in the shortest time. This is a business where if a house must sell quickly to make the maximum amount. You want a realator who can get you the right price, too low you lost money on the sale too high the property will sit costing you interest and utility payments.
Home Inspector A good home inspector can keep you from making a big mistake. Simple tests can keep you from buying a home with a mold or asbestos problem. It is better to find out now than after you spend twenty thousand remodeling the home.
Contractor The contractor controls the pace of work. The contractor also spends your money for you. They help you to develop and adhere to a budget. As the investor, a lot of what you need to know to buy wisely is learned by working with your contractor. Some people walk into an investment property, see holes in the walls and ceilings, and get scared off. I walk in, see those same holes, and know that for $400-$1,000 there are no more holes in the walls, the plumbing is repaired and I can move onto another phase of my renovation.
Suppliers Don't buy retail you can save twenty to forty percent buying from a building supplier instead of Home Depot. Plus they usually deliver for free. Look them up in the phone book under "Building Suplies" To get an account, you need a company name, a credit card and a bank account, that's it. Don't buy retail!
CPA This is not where you want to save money with turbo tax. An experienced CPA will help you save thousands. Make sure they are familiar with real estate investing. Also don't wait till after the first of the year. sometimes you can make changes in Nov and Dec that will salve you thousands. Make sure they have degree in accounting, they don't actually have to be a CPA.
Attorney They can help you decide whether you should incorporate, form an LLC or go it alone as a sole proprietor. A real estate attorney can save you money on title work, can draw up rental/ lease agreements and can advise you on tax strategy when buying and selling your real estate. If you buy a commercial building a real estate attorney is a must.
Insurance Agent Like all other team members, it is key to find an agent that you know and trust to handle your real estate insurance needs. You need to ask tough questions to your agent and consider what your exposure will be to loss from fire, flood, theft, or injured workers/ tenants. If your policy leaves you exposed in any one of these major areas, your work could all be done for nothing.
Friends & Family Friends and family: two of the greatest words in the home renovation language. They will often offer you hours of unsolicited advice (often good advice) and hours of free labor. Jobs like light demolition, painting, cleanup and many yard projects can be handled by anyone who owns a home. Therefore if you have friends and family you have a light work crew. If you feed them well, provide a frosty beverage or two, and don't overwork them, the friends and family work crew will have fun, make your job more fun and most importantly work for free. - 15252
About the Author:
Erin Cureton is the managing partner of Cureton Property Alliance. Contact him here If you have questions about Ohio Real Estate The site was designed by Net Advertising Group learn about internet advertsing Also consider sewer pipe lining to reduce costs
