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Saturday, March 31, 2012

Leasing a Storefront

A storefront is a business that has visibility from the street.  Storefront remax properties college station  are generally leased by those selling items to the public.  Some storefronts are used for restaurants or even business offices.  Leasing a storefront can bring the commercial real estate investor good, steady income.
In many cases, a commercial real estate college station investor will look for storefronts that need construction improvement.  In other cases, old homes in “downtown” areas of different communities are being made into storefronts.  Whether you are improving an existing storefront or turning a or other property into a storefront, it is best to have a qualified renter prior to purchasing the storefront property.
It will be your responsibility, when leasing a storefront, to make sure that the property complies with all local ordinances.  This will relate specifically to advertising, lighting and signs.  If the storefront is a solitary structure, you will also have to insure that the driveway and parking areas are cleared for customers.
Storefront businesses are popular in all parts of the country, especially in cities.  Businesses that sell retail prefer leasing a storefront as it gives them more visibility for the public.  Storefront windows can exhibit the goods in the store to their advantage.  Storefront windows can also exhibit signs and have lettering on the windows, allowing a business drive by advertising.
One way to get a storefront is to purchase property in part of town that is changing from residential to business zoning.  This happens in many areas where they are trying to make an historic area a shopping area in town.  Old homes for sale college station are converted from residential buildings to commercial real estate store fronts.  A commercial real estate investor who wants to make a profit leasing a storefront can do well by purchasing such a property and converting.
To convert an old home into a storefront business you will first have to apply for a zoning change.  If most of the other property is being zoned for business use, you should have no problem as long as the municipality approves your proposed usage of the property.
Prior to investing in commercial real estate college station, especially if you are endeavoring to engage in leasing a storefront, get a title search of the property and learn the covenants, restrictions and conditions that pertain to the property.  These can range from all stores have to have a green roof to no restaurants that sell tacos.  You have to make sure that you know if your business will be prohibited by any existing covenants or restrictions recorded on the property.
Leasing a storefront can be an ideal way to earn a profit when investing in commercial real estate.  Because storefronts are usually easy to lease to businesses because of their visibility, they are rarely vacant when in prospering areas.  As is the case with all commercial real estate investments,  location has everything to do with the success of the business.  Make sure your storefront is in a good location and has a steady traffic flow in order to make this commercial real estate investment work for you.
Look for Gordon Pate when you visit Bryan/College Station.He knows more of the homes for sale college station that you can convert to storefront business establishment.

Tuesday, March 27, 2012

Where to Find Bankruptcies

There are many places you can look to find bankruptcies.  You can get a large list of foreclosures on the Housing and Urban Development (HUD) web site.  This association lists many foreclosures.  The listing includes how many bedrooms and bathrooms the property has. It also gives a general description of remax properties college station.  You will be able to see the address.  In some cases there is even a picture of the property.  You will find the asking price of the property in these listings.
Another great place to find bankruptcies is the Federal Housing Administration (FHA).  The FHA has many foreclosures listed on their web site as well.  As a matter of fact when you log on to this web site you can find any properties being offered by the U.S. government.  The listings include how long the properties have been on the market  and if the price has been reduced.
The prices of these remax properties college station is not cut in stone.  These organizations are not in the real estate business.  They do not want to keep these properties because it costs money to allow them to sit vacant.  There is insurance to pay and taxes to maintain.  This is something their budget does not allow for very much.  There are so many bankruptcies being listed it is impossible to keep up with the growing list.  The agencies are usually willing to make a deal with the potential buyer.
As an investor it is beneficial to find bankruptcies rather than buy homes for sale college station  listed in the conventional way.  You can find properties being offered at far below the market value.  Sometimes you can find homes which can be purchased for only $500.  There are not many out there like this but if you look hard enough you can find them.
You can also look in the paper to find bankruptcies. This means finding the local sheriff's sales listing.  This is usually in the local newspaper.  At present, there are generally several pages of these listings.  The real estate crisis which has hit some parts of the country is generating many foreclosures.  This means big money for many investors.  These real estate guru's will go in and buy properties they know will generate a good return.  It is not hard to make your money work for you when finding bankruptcies.
There will be times when the banks have many Real Estate Owned (REO) properties.  Again, this is not good for the finance companies.  They too have taxes and insurance which must be paid on the properties.  They can only afford to keep these properties a short time.  It is best to deal with the lender directly if at all possible.  Sometimes there is a certified real estate college station agent  the lender uses to list the properties on the open market.  When you decide to buy one of these properties you can do some rather creative things when it comes to the financing.  In one case that I know of, the buyer asked the finance company to fore go the 10% down and pay for all the closing costs.  The lender actually dropped the price by 10% and paid for everything but the appraisal. The buyer only had to come up with $300 out of pocket expenses to pay for an appraisal.  The equity in the property at the time of sale was almost $35,000.  The buyer had got the property at almost 50% of the appraised value.
 These sorts of deals can be had by the new investor as well as the seasoned buyer. All you need to know is where to find bankruptcies.  Once you know how to locate them, the financing is basic loan approval.  In some cases you can even find homes which you can pay cash for just by offering a little less.
If you need help finding remax properties college station, Gordon Pate has enough time to spare to accommodate your real estate services requests.He is a trusted remax realtor college station that knows extensively what properties you can have as the best investment.

Saturday, March 24, 2012

Real Estate Investment Programs

There are many ways to make money with real estate bryan tx .  You will find infomercials and books anywhere you look telling you how to amass a fortune by dealing in real estate bankruptcies.  Many of these self proclaimed experts are making their money by selling a program.  If the program worked as well as they say it does then why do they advertise so much about what you can afford to buy from the wealth you will make instead of telling you how to do it?  Remember those that can't, teach!
Just because someone says there is money to be made with no money down does not mean it is going to work with every real estate deal that comes along.  You need to understand the rules of real estate bryan tx .  This  is something which many of these guru's forget to mention.  It may work with somebody who is willing to carry a note on the properties.  It will not work on a foreclosure or bankruptcy in which the seller needs the money to rescue themselves from total devastation.  They want money and if you do not have a buyer for the house, the bank is not really going to let you walk out of the closing with the key without some money somewhere in their pocket.
The truth is that anyone can invest in bankruptcies and truly build an empire with the properties they buy.  This is done over time, not over night.  You need to understand the real world of investing before you spend a fortune on programs which are nothing more than scams used when people were so desperate to buy or sell they would try anything.
If you really want to know how to invest in bankruptcies find a real estate investor who has done it. Make sure your source is someone who has put several deals together.  Do not take the word of someone who fell into a great deal because the neighbor's great uncle's wife had a brother who died and left the house to someone who could not afford it.  Gain from experience, not whims.
People who have made money in real estate bryan tx  investing are not afraid to show you what they know.  They are proud of being able to put good deals together. They know there are so many on the market now that no matter what, there is enough for every one to gain from them.  Ask how they did it.  Find out what these experts know.  They will tell you.  You may even be surprised to find they will help you with the first deal.
Many of the experts advertising on television are people who may have made a deal or two. Their real money has come from selling the program you are watching the ad campaign for.  Any reputable real estate investor who is selling their information will usually be doing it in a seminar.  In the seminar you will learn many secrets.  No, not all of them will be revealed.  This is saved for the books or tapes you can buy at the end of the session.  Yet you will find many of the hints and tips being offered in the seminar will work.  You may not get all the lists if you do not buy the book.  These are the lists you can find on your own anyways.
To make sure the program you are deciding about gives references.  Not paid actor claims which state they have made millions doing the exact program to invest in bankruptcies.  Find people who have bought the program and have had success.  A real program that works will have people who can tell you it does work and they have done it.  They will let you know what is wrong with the material or what is outdated.  The program writer will not be afraid to let you talk to these people.  This is because he or she knows the system will work for you.  You can make money with certain real estate bryan tx programs on the market.  You just need to do your homework and decide which one is right for you.
Gordon Pate is a leading consultant and remax realtor bryan tx that you can get in touch with if you want a profitable real estate investment program in Bryan, Texas.

Wednesday, March 21, 2012

Investing in Bankruptcies

Investing in bankruptcies can be a big money maker for the real estate investor.  Investing in bankruptcies results in a substantial income when you choose the right property.  There are laws that can change from area to area that govern bankruptcies.  This means that there are risks involved to the investor.
You are taking a risk that the owner can come back and lay claim to their property.  Some states even have laws stating the bankruptcies are not complete for a certain amount of time.  You will have to determine if your region has this type of law protecting the homeowners when they file bankruptcy.  If this is the case you may want to make sure the home is vacant before making an offer on the property.  You do not want to put your money into something only to lose it when the homeowners get back on their feet.
When the owner defaults on the mortgage bankruptcies order is put in place. The bank will start the proceedings necessary to regain possession of the property.  You will find many of these properties listed in the local paper under the heading of sheriff's sale.  The opening bids usually start at two thirds of the appraised value of the home.  The highest bidder is the one who is awarded the property.  Investing in bankruptcies can greatly increase an investor's portfolio.
You must have a plan of action when you are investing in bankruptcies.  The first thing you must do is determine what your plans are for the property.  Is it going to be a rental property or do you plan to flip the house?  You can determine where you will look for your properties when you decide what you want to do with them.  You will know what neighborhoods you want your bankruptcies to be in to make a profit.
Choosing the bankruptcies carefully is a high priority.  You do not want to find ones which will be depreciating.  You want areas where there is growth potential.  You want to buy bankruptcies which will increase in value.  Just because the price seems to be right does not meant the property is the one for you.  Determine what the average selling time of the houses which have been sold. This will give you a good indication as to what you can get for the property you are looking at.
When investing in bankruptcies you should always look at the bottom line.  If you can not make a 10% or greater return on the investment then it is not a good property to purchase.  You must know your market.  You will need to look at past sales in the area. You will want to see if the area is growing or declining.  You will need to know the how long each house that sold stayed on the market. You may find bankruptcies which have been on the market for six months or more.  This is a good indication it is a bad investment.  With all the other investors out there, if one of them did not want it, you probably do not want it either.
Once you become more familiar with investing in bankruptcies you will learn what to buy and what to avoid. You will understand which areas are good investments and which ones are not worth your time.  You will also be able to understand more of the real estate market and the lending red tape.  This will help when you are investing in bankruptcies.

If you find yourself interested in remax properties college station,drop by Gordon Pate's office and see for yourself endless possibilities in investing with real estate. He is one of the top selling realtor college station you can rely on when thinking of investing in bankruptcies.

Wednesday, March 14, 2012

How to Become a Professional Investor

The first thing you should do to become a professional investor is to educate yourself in the world of real estate.  If you do not know the terminology or financial strategies you could find yourself lost in the middle of a deal you know nothing about.  Worse yet, you could lose the money you were trying to make in the first place.  There are many ways to find out about real estate.  The Internet is full of web sites which offer many real estate articles concerning investments. 
Do not pay attention to the no money down deals you hear about all the time.  These are rare and very few and far between.  If someone is selling their property because of financial problems they are not going to take back a note on the property.  You need to understand there are things like closing costs which someone has to pay, as well.  There may be times when you can get the seller to pay them.  However there are still other fees you will have to pay on your own.  This includes appraisals, title insurance, property insurance, and even taxes.  The no money down deals sound too good to be true because they usually are.
 You will also want to know your laws and regulations in the area in which you are going to be investing.  You do not want to find you have purchased a property you can do nothing with because there is a clause in the sale stating the owner has six months to come back and reclaim the property.  Bankruptcies are protected in many areas.  Just because a property is on the market because of a bankruptcy does not mean you are getting the deed free and clear. You may have to give the home owner time to pay off the money owed.  This is why you need to know what laws are in affect governing the real estate in your market.
There are three people you will want to have as friends when it comes to investing in real estate.  The first one is a real estate agent. This person can show you the new properties on the market. He or she can also give you pertinent information on the market.  They know what is selling and what is not moving. They can tell you want the homes in the area have been selling for and how long it took a property to sell at the asking price.  The second person you want on your team is a qualified inspector. Someone who can look at a property and tell you what repairs are needed comes in real handy.  This way you can tell whether a good deal is really good or nothing more than a money pit.  You do not want to invest in the money pits.  Lastly, a lender should be someone you know on a first name basis.  They can show you which types of loans you will qualify for with each property.  They can also let you know when there are foreclosures coming into the market.  You can be one step ahead of the other investors in the area.  Also, with a lender being a close acquaintance, you can know what you will qualify for when it comes to buying an investment property.
The professional investor will know other investors in the area.  The reason for this is because there may come a time when you have a property which just needs more than you can handle.  Being able to turn to another investor for advice or even to form a joint venture on a property is a good thing.  Knowing who else in the are does what you do can give you an opportunity to take advantage of properties you may have other wise had to pass up.
You will find the professional investor knows his or her market.  They know what is going to sell and what is not wanted.  They know which areas are on the rise and which ones are declining.  A professional investor knows his or her business.  The key to success when it comes to investing in knowledge. The more you know the better you are when it comes to investing.

Gordon Pate is one of the most trusted remax realtors college station that can talk to you all about real estate investment on remax properties college station.

Sunday, March 11, 2012

Buyer Beware When Investing in Bankruptcies

Many real estate investors talk about how much money they have made when investing in bankruptcies.  What they do not talk about are the pitfalls to watch out for in the properties.  There are many things which can go wrong with any real estate deal.  Investing in bankruptcies opens up an entirely new realm of possible problems.
Most bankruptcies are vacant properties.  This means the property has sat for quite some time with no one living in it.  The power has been off, as well as the water and heat.  The house has had a chance to adjust to it's environment.  This is when the problems can occur.  Many an investor has been excited because of a great purchase only to find there were so many repairs needed on the property the result was a financial loss.
The first thing you should do to avoid complications when investing in bankruptcies is to have a property inspection.  This is well within your rights as a buyer and do not let anyone tell you otherwise.  You will want a qualified contractor to look at the property.  This will ensure you know exactly what you are buying. 
A contractor who knows what they are doing will be able to tell you how old the roof is and when it may need replaced.  He will also know if any weak spots should be strengthened also.  He can look at the trusses and other framing to determine if there is any termite damage or other boring insects who have taken up residence.  An infestation is something which must be reported to any potential buyers.  This can scare off some people, so if you are planning on flipping the house you may not want one which has these problems.
Another problem some vacant properties have is with the plumbing.  Although the pipes may have been winterized or emptied when the house was repossessed does not mean they are in good working order.  Although it is almost impossible to see some leaks, a qualified inspector will notice water damage.  They will be able to tell you if it was from a plumbing problem or from flooding.  Either one is a potential problem from which you should walk away.  Again, flood damage must be reported to a potential buyer.
The foundation is closely looked at when a quality home inspection is being done.  The contractor will want to see if there are any cracks which indicate a shift.  This is a good indication of a large financial repair bill.  The footer may not have been poured properly or it may have been too thin for the environment.  When the foundation has started to slide, there could be major financial problems.  This is a critical point in the inspection which someone less qualified may know nothing about.
When you are investing in bankruptcies the seller, usually a finance company knows nothing about the property.  It is up to the buyer to have the inspection done so there is no question as to the condition of the building.  This is why it is considered a buyer beware market.  A seasoned investor will have a contractor or inspector they can call on to check the homes the investor is interested in purchasing.  Learn from what other investors do to make money when investing in bankruptcies.  Have an inspection done of the property before making that offer.
If planning to purchase a well maintained and  conditioned property in real estate bryan tx, you can visit Gordon Pate to get the most of every property purchase and real estate investment.