Real Estate Investing: How To Choose The Perfect Tenant

Many investors are not interested in becoming a landlord; unfortunately, unless they have another stream of income, investing in real estate requires financial support from somewhere. Investors that are not open to becoming a landlord may be losing money.

There are some basic guidelines to be an effective and profitable landlord. You have to have the right tenant, collect and maintain deposits, inspect the property, collect rents, and possibly evict tenants. We will cover some of the basics you need in order to be an effective landlord.

Choosing tenants is probably the single most important thing that you can do to save yourself both time and money. Your single most responsibility is your property use and the maintenance. While it is illegal to discriminate against any applicant, this is still your property and you have the right to pick who you want to live there. Renting to the first applicant through the door may not be the best idea; prospective tenants look will hunt for the right property and you should for the right tenant.

You need to have a completely filled out "Applications for Rental", you can get these at your local office supply store or you can have your attorney draft one for you. At a minimum, make sure that an attorney reviews the paperwork to be sure your property and you personally are protected.

Perform a background check on all potential applicants. Call their employer, contact previous landlord; this may be the most important step. Verify credit references, if necessary, you can even do a full background check on someone using a number of different websites available today. Remember, do not cut corners here, this could cost you a great deal of money and time.

Posting a "For Rent" sign and running ads in the newspaper are not a very good way to attract trustworthy tenants. If this is what you use to find tenants then make sure that, you properly screen them. Finding a family friend or acquaintance is usually the best avenue to finding the "perfect tenant"; offer them an incentive to find you a good, solid tenant.

To avoid a lot of "tire kickers" when posting ads in the newspaper, be sure to include accurate descriptions, rent amount, any deposit requirements, and restrictions you maintain, such as kids, pets, total occupants allowed. Without this information, you are opening your phone to a long list of people that are "just looking".

Assure all applicants that full consideration will be given to them, however do not be too eager to get a tenant in the property. Finding the tenant, one that meets your requirements is the best approach to being an effective landlord.
Start with the right tenants to effectively mange your properties. You need to make sure that the tenant that you have chosen is a good fit; you can save yourself from a great deal of expense and ultimately have the perfect situation if you are a real estate investor.

Thomas Bladecki is the author and can provide additional information about foreclosures and the current real estate markets visit Home Foreclosure Help.

Article Source: ArticleSpan

Is Real Estate Investing the Income Opportunity for You?

It seems that every time you turn your TV on there is some infomercial about creating your wealth in some real estate investing home study course. Why would you not? It seems like it’s a great income opportunity and it seems easy enough? Is it really? Are these courses just in it for themselves or do they really help?

There are a couple of answers to that question. Yes, the techniques they teach work and have worked for many investors. Yes, they are in it for themselves as well. Real estate investing is no new way of making money. It’s been around for many years, and as the years roll on and the market changes, there will continue to be new ways to profit off of the industry.

By selling these courses on TV, these companies are creating huge numbers of investors in their particular niche. Yes, the techniques work, but the market becomes oversaturated with these new investors using these same techniques. These companies know this. So to continue to generate income for themselves, they offer training and coaching programs that cost more money, of course.

When you need a tissue, you think of Kleenex. When you need to clean your ears out, you think of a Q-tip. There are other companies that sell those things, but these companies have the name recognition. These home study courses have great ideas and concepts, but they don’t do a great job in showing you how to market yourself and get your name out there.

Now that you have educated yourself in your new real estate investing income opportunity, how do you get your name out? You can go to all of the local real estate offices and let them know that you’re an investor. Register with your local chamber of commerce. Join or start a real estate investors club. Put ads up on the corners and in media materials. Those are all great ideas, and all of the successful investors are doing them, but what else can you do?

Wouldn’t you like home sellers calling you instead of you calling them? Isn’t the name of the game to have more properties to look at to have more to choose from? In order to do that, you need to have your own name recognition. You need to market your business on the internet. Duh, But how? Where do you start? What are the cost effective ways?

Here a few great ideas that the home study courses aren’t teaching you to get your name out.
– Advertise on free classified websites
– Create a blog on what your doing and how it’s working for you
– Type up press releases on what the market is doing and how you can profit
– Subscribe to an email blast to get your name out to millions.

These are just a few ways to help increase your name recognition and help make this income opportunity work for you. Getting your name out is all about the marketing. The more people that know you’re out there, the more sales you will see. It really is a numbers game.

As always, do your research to see if the company is reputable. Don’t always listen to the "nay sayers" because if a company is successful, there will always be "nay sayers." Lastly, don"t look for any income opportunity to be a get rich quick venture. You have to put in your work and stay consistent. A great saying is to "Stick and Stay and you’ll Get Your Pay!"

Chris Clark has been marketing on the internet for 5 years now, and helping people make money doing the same thing. Find out how Chris can show you how to use your computer to make money at Online Marketing Made Easy.

Article Source: ArticleSpan

New Options added to ProAPOD Executive 10.0

If you are a current user of ProAPOD Executive 10.0 real estate investment software, then you might be interested in knowing that several extra options have been added to the software program that will make your revenue projections more meaningful.

Here’s what we recently added: You are now given the option to “step” the vacancy allowance, income stream, and operating expenses several times over a ten-year period.

In other words, rather than just choosing a “flat” increase that would apply over the course of every year over a ten-year period for each measure, you can now stagger (or step) each measure several times over the course of ten years.

For example, whereas before our real estate investment software would take the vacancy rate you entered on the Expenses form (say 5%) and apply it to each year in the Proforma Income Statement you are now given the option to add two additional “steps” for Vacancy Rate. This is helpful if the property currently has a high vacancy rate (say 15%) but you anticipate a lower rate the following year (say 10%) and a still lower rate for each year after that (say 5%).

The same was true for income and operating expenses. Whereas before you would tell the program to inflate the current value of income and expenses say 3% annually, which ProAPOD in turn did over the course of each future year, you now have the option to add two additional inflation rates for each of those amounts starting in the year that you select. In other words, you might choose to inflate income at 3% for the first 3 years but want it to inflate at 6% beginning in the sixth year, and so on.

You will find this option on the Proforma form. Of course, it is totally optional. If you do not add additional steps, ProAPOD Real Estate Investment Software will just apply whatever appreciation you indicate primarily as a flat amount across-the-board over the course of the Proforma as it always has.

How to Use the Photo Option in ProAPOD

All three of ProAPOD’s real estate investment software solutions provide an easy way for users to include photos in their real estate analysis reports. Having said that, however, it should also be pointed out that the number of photos that can be posted do vary based upon the solution. Before we show you how to use the photo option, here’s a summary of options available by solution.

  1. ProAPOD Investor 4.0 – A photo can be placed on the Cover Sheet.
  2. ProAPOD Agent 6.0 – A photo can be placed on the Cover Sheet and Marketing Package.
  3. ProAPOD Executive 10.0 – A photo can be placed on the Cover Sheet, Marketing Package, Executive Summary, Photo Page, and Sold Comparable report.

Why the disparity, because not all of the real estate investing software solutions contain the same reports. Obviously  ProAPOD Executive 10.0, which is our ultimate rental property analysis and marketing solution, will create the most reports where photos can be posted, and ProAPOD Investor 4.0, which does not contain any marketing elements, creates the least. Other than the quantity of reports, though, there is no difference in either the ease or quality of posting a photo. All three software solutions include the one-click method ProAPOD has become known for.

To include a photo, the user simply clicks a Get Picture button on either the toolbar or form (depending on which report is being created), chooses the report where the picture is desired, selects the picture he or she wants from the computer, and clicks Okay. Almost like magic, ProAPOD will format the picture and post it on the report. The user does nothing. Just select and click. Likewise, if at anytime the user decides to remove or change the picture, it is done primarily the same way and just as easily.

How To Make Big Profits By Flipping Real Estate

Investments in real estate have always been a fairly safe way to invest your money. Recently there has been an increase in people buying real estate solely for the purpose of improving the home and then turning around and reselling the home hopefully at a profit. This type of investing in real estate however is not nearly as safe and depending on the outcome could bring a great profit, little profit or put your bank account in the red.

Due to the popularity of buying, improving and reselling real estate in recent years there is even a slang term, which refers to this practice called "Flipping". Flipping is used due to the fact that you are buying a home improving on in some ways and selling it at a higher cost then you bought it for and invested into it, therefore flipping.

If done correctly buying and selling real estate can turn a great profit but there are a few key points to keep in mind should you decide to invest in this practice. First of all it is important to thoroughly inspect the prospective home and property. Looking for resale value is the best way to determine whether you will be able to invest enough to sell the property at a profit or if you will have to take a loss.

Determining neighborhood property and home values is a great place to start, finding out the minimum and maximums the general public will be willing to pay for your real estate. For instance, if you purchase the house and land for a low cost compared to the other places in the neighborhood may look like a deal, however you still have to consider the amount of money you will need to invest to resell the home at a higher value. If you are going to have to make a lot of improvements to sell at a comparable price for that specific neighborhood the property may not be worth the time, energy and funds needed. Additionally it will be difficult to have a profit from a real estate such as that.

Another important key point to keep in mind with real estate is the amount you will need to invest in order to improve and update the property that will make people want to purchase it. If you will need to do major renovations at a high cost your profit margin will slowly seep away. However if you only need to update the home enough that there will be more appeal it may be a great investment. Updating a home can raise the market value quickly with little cost to you. This will appeal to buyers and you will be more likely to resell the property at a profit.

Buying and selling real estate is a risky business that takes great time, energy and investment of funds. With careful consideration and evaluation you can find the property that will eventually be sold at a profit.

Gregg Hall is an author living in Navarre Beach Florida. Find more about this as real estate investing at http://www.investingmaster.com

Article Source: ArticleSpan

FREE Mortgage Calculator Software

ProAPOD Real Estate Investment Software has just introduced a new special offer. Buy any ProAPOD real estate software solution and get two downloads for the Mortgage Calculator Software free. This is a $29.95 value, yours free when you purchase anyone of the three investment software solutions: Executive 10.0, Agent 6.0, or Investor 4.0.

The mortgage calculator mimics an HP 10 financial calculator but is much easier to use. With just a few entries into the user-friendly forms you can virtually make hundreds of computations in seconds, including loan amortization and time value of money calculations. Plus, the mortgage calculator software creates several reports and tables that you can print.

This is a limited-time offer so be sure to act now. You can preview screen shots and learn more about the mortgage calculator software as well as the real estate investment software solutions at www.proapod.com.