Tag Archives: real estate

Big news!

14 Oct

So I bought a house.
I had been thinking about buying a house for about a year. I spent all summer looking online for houses, cruising through many neighborhoods, and checking out open houses. About two months ago, I made an offer on one that seemed to be promising and I had convinced myself was the one for me. That one fell through. I was a little bummed and had told myself maybe it was time to take a break from trying to find a house and that maybe the time wasn’t right. Just two days after I had decided this, one of the neighboring properties (from the one that fell through) was listed. It was perfect! A charming one story house with three bedrooms and two bathrooms, a garage, a big backyard, and a fireplace. I already knew the neighborhood was a good one, I was thrilled. I wanted this house, badly.

After a little negotiation between both realtors, the offer was accepted. I knew what amount I was going to put towards my down payment but I had no idea how expensive everything else would be! I felt pretty lost throughout the process but was lucky that my realtor and the loan officer were both very supportive and answered all the questions that I had.

Here are some tips for any other young professionals that are thinking about purchasing a home:

1. Save, save, save. Seriously even if you think you have estimated everything and budgeted correctly, save more. Closing costs are always higher than anticipated. There is also the cost of moving, turning on new utilities, and any other renovations you want to do.

2. Use your network. Ask the people you know for referrals for painters, gardeners, movers. It’s easier than searching online and saves you tons of time trying to find someone “legit.

3. Think long term. Unless you plan on living there forever, don’t make major changes to the house. Customize it to your liking of course but also keep in mind that not everyone likes the things you like and in the event that you want to sell that house in the future, it will be easier to resell something that isn’t totally custom to you.

4. Don’t worry too much about the “look” inside. Walls can always be painted and floors can always be redone. Focus on the stuff that can’t be changed (at least not in a cheap way), pay attention to the foundation, the roof, the basic floor plan .

Hope this helps!

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Too funny!

18 Jun

I personally use Zillow to check out the Real Estate in the area but have been told countless times I shouldn’t rely on it.

The Big Guns are coming to Austin: Phill Grove, Dyches Boddiford, and H. Quincy Long!

5 Mar

bigguns

As many of you already know, Quest IRA throws the biggest and best networking events this side of the Mississippi.  We are now bringing our events to Austin Texas! This is an amazing opportunity for anyone looking for FREE Real Estate Investment and Self-Directed IRA Education. As well as a great opportunity to network with likeminded investors. For this first major event in Austin we are holding nothing back. We are bringing the BIG GUNS: Phill Grove, Dyches Boddiford, H. Quincy Long!   

Phill Grove

Phill Grove is a serial entrepreneur that has made millions in three different industries: technology, real estate, and internet marketing.

Since 2003, he has negotiated over 1,200 real estate deals involving approximately $200,000,000 in real estate. Since 2008, he has sold over $10,000,000 worth of products online.

Phill uses “every trick in the book” to do real estate deals including: mortgage payment assignment, wraps, options, auctions, swaps, shorts, flips, buy and hold, and more to make money from every deal he finds. He uses the internet and 60 other marketing strategies to find a massive number of deals.

Dyches Boddiford

Even though he has added additional courses over the years and is a national speaker, Dyches has remained a full-time real estate investor. That is his main business and feels that only by being active in real estate investing can he bring real world experience to his classes and materials.

Dyches has written books and teaches seminars on Financial Freedom, Asset Protection, The Corporate Fortress, The Nevada Corporation, Limited Liability Companies & Partnerships, Real Estate Investment Using Self-Directed IRAs, Advanced Strategies, Business Tax Strategies, Estate Planning with Asset Protection, Guerrilla Bankruptcy Tactics for Creditors, The Mobile Home Money Machine, Deals in Dirt, Discount Notes & Mortgages, Private Money Lending as well as other topics.

**Country Western Attire is recommended, but not required.  Prizes will be awarded for the best outfits!! **

RSVP HERE

Why Women are Driving the Demand for Rental Apartments

15 Feb

On the first of every month I write a check for a pretty penny to my landlord. Occasionally I wish I wasn’t paying someone else but instead paying off my own home. However, I know I can’t commit to the idea of owning a home. Living in an apartment offers me flexibility: no yards to mow, no toilets to fix, no property taxes to pay… etc. I also feel safer in an apartment complex knowing I have neighbors nearby and that I am not truly “alone” when my roommate is out of town.

Other things I like about living in an apt: if you hate it after a year you can move, no questions asked and you get to pick a whole new one. If you hate it after 3 months you can still move but it will cost you and then you get to pick out a whole new one. You almost never run out of hot water. There is a gym and a pool that you don’t have to maintain. The landscaping is usually pretty nice. They are usually near the essentials like grocery stores and gas stations, and if something breaks, there is a maintenance crew for that!

In the last 7 years I have lived in EIGHT apartments. I am a wanderer by nature and if I bought a house I would want to move out after a year.

CLICK HERE TO READ THE ARTICLE BY CNBC

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Why Women are Driving the Demand for Rental Apartments

CONSUMERS, PHLX HOUSING SECTOR TR INDEX, BUSINESS NEWS

CNBC.com | Tuesday, 12 Feb 2013 | 12:07 PM ET

The housing market is supposedly roaring back. Home prices are seeing their biggest annual gains since 2006.

Renters must be rushing back to buy, right?

Not exactly.

In fact, even as housing and the greater economy improve, a shift in demographic trends will likely favor the rental apartment market for the foreseeable future. It is all about women.

“I rent in an apartment building because it gives me a certain amount of freedom: I’m not positive that I want to stay in D.C. long term so I could leave at year’s end if I wanted to,” says 25-year-old Caitlin Huey-Burns, a working journalist. “My building has nice, built-in amenities, and it’s in the location I want, but where I know I wouldn’t be able to afford to buy.”

Most of Huey-Burns’ single, female friends, some in their thirties, who live in major cities, also rent in apartment buildings. Just one owns, and she lives in Canton, Ohio.

“What drives demand for single family homes is, ‘Oh honey, I’m pregnant,” says Buck Horne, a housing analyst at Raymond James.

(Read More: America’s Most Expensive Rentals 2013)

But those words are being uttered less and less. Horne claims the shift in female education, marriage and fertility rates will drive rental apartment demand going forward. He points to a growing educational imbalance, that is, 3.1 million more women enrolled in college than men and 4 million more college-educated women in the workforce than men.

“That creates a structural imbalance in the number of suitable partners. Women leave college with good income prospects and are not finding suitable husbands and fathers,” says Horne.

Consequently, the millennial generation is delaying marriage and motherhood, and birth and fertility rates are dropping. The female fertility rate is at its lowest level in recorded U.S. history, according to the Centers for Disease Control/Raymond James research. 41 percent of children are born out of wedlock. Horne’s research finds single mothers prefer living closer in to cities and staying in full amenity apartment rentals. This all points to more structural, long-term demand for rental housing.

(Read More: Home Builders Turn to Rental Apartments)

But, again, shouldn’t that rebound in home prices and growing confidence in housing still push more renters to buy, despite the female argument? Investors certainly think so. While stocks of the nation’s homebuilders are up over 60 percent from a year ago on the PHLX Housing Sector Index, multi-family REIT’s actually under-performed and inversely correlated to home builders. Investors were concerned about the single-family home recovery stealing renters. But should they be?

No, according to a recent Raymond James report:

Renter household formation remains at the strongest level in decades. Roughly 1.32 million new renter households were formed in the past year (including owner conversions), while the number of owner-occupied households declined by 175,000. Resident turnover and move-outs to homeownership remain near historic lows for most operators. Incoming leasing traffic is more than offsetting move-outs while paying higher rates.

The home ownership rate declined yet again in the fourth quarter of 2012, according to a new report from the U.S. Census today. It now stands at 65.4 percent, down from 66 percent a year ago and from a high of 69.2 percent in 2004. If you include the 5.3 million borrowers who are delinquent on their mortgages or in the foreclosure process, per Lender Processing Services, the real home ownership rate is even lower.

“The fact that the housing recovery is being driven principally by investor demand means that the slight decline in the homeownership rate in the fourth quarter is unlikely to be the last,” notes Paul Diggle of Capital Economics.

(Read More: World’s Most Expensive City to Rent Is…)

There is also a tremendous amount of pent-up demand for the rental market, as nearly 23 million young adults, male and female, under age 35 (31 percent of the cohort) are currently classified as ‘living at home’ with parents, according to Raymond James’ analysis. As job growth improves, they will move to rental apartments; the homeownership rate for this group is only 34 percent.

(Read More: Rentals Chip Away at Home Builder Gains)

Investors are also concerned about a 49 percent jump in multi-family construction permits from a year ago, but those permits are still running well below normal levels, and every year about 150,000 units are removed from housing stock for various reasons, like age and damage.

Suffice it to say that the apartment sector and the multi-family REITs will likely see a surprise to the upside in 2013. Rents will still rise, despite housing affordability and growth in the single family market.

(Read More: Real-Estate Tips from a Mega-Broker to the Stars)

—By CNBC’s Diana Olick; Follow her on Twitter @Diana_Olick or on Facebook at facebook.com/DianaOlickCNBC

Questions? Comments? RealtyCheck@cnbc.com

© 2013 CNBC.com

URL: http://www.cnbc.com/100416547

IRA Bootcamp

12 Feb