Tag Archives: buy and hold

Real Estate: 6 Tips To Finding Good Tenants

As a, Real Estate, property manager, and, real estate, investor, here are 6 tips to finding good tenants.  I offer my clients the peace of mind of, long term tenants, who take care of their property and pay their rent on time.

Finding good tenants,  is the goal of all, real estate investors, especially out of town investors who can’t manage their properties themselves.

What does a Real Estate Property Manager do?

As a, Real Estate, property manager, I offer a unique proposition for my local market of , Fort Myers, Fl. I will:

  1. market your listing on the MLS, Zillow, Apartments.com, Craigslist
  2. screen tenants over the phone before scheduling showing appointment
  3. show property to qualified tenants
  4. do background check on all adults, including rental references and job
  5. If qualified, prepare legal lease and collect holding deposit
  6. organize any repairs needed to get property ready for new tenants
  7. move in tenants and collect first month rent and security deposits
  8. be the agent for any notices for maintenance
  9. organize or dispatch any maintenance repairs
  10. All these services are FREE with the listing of the home or condo.
  • My fee is the standard one month rent that other realtors collect just for showing your property and putting in the MLS

Off loading the task of finding good tenants to a, real estate, property manager, limits the occurrences of having bad tenants who:

  • don’t pay their rent on time
  • who destroy your property
  • who don’t pay at all and you have to evict
  • who disturb the peace and cause problems with the HOA

Some other benefits of hiring a, realtor property manager, to find you good tenants:

  • Saves you time of dealing with all the calls, showings etc
  • As a, Realtor property manager, I have access to other Realtors in the MLS and their clients
  • As a, Realtor property manager, I know the areas that can command the highest rents
  • As a, Realtor property manager, I can do research on areas and prices on the multiple listing service and public records
  • As a, Realtor property manager, I have access to off market discount properties so you can buy your real estate investment property at discount prices thus lowering your monthly carrying costs.
  • As a, Realtor property manager, the biggest benefit to you is that you can get into the HOT Florida real estate market while living in the North. Your, Realtor property manager, will be your feet on the street.

Some other services I provide:

  1. Do you have a property to sell? As a, Realtor, I offer the same all inclusive service to help you market your property and get top dollar
  2. Looking to Buy a home owner occupied or as a, real estate investor? I have access to property on the MLS, Zillow, Craigslist, pocket listings and off market discount properties
  3. If you are a cash buyer and looking for rehab properties, I work with local wholesalers to get you inventory.
  4. As a, Realtor property manager, I can offer you a turnkey investment. I find the property, find the tenant, move in the tenant, you collect the rent!

“The Ultimate Beginners Guide to Real Estate Investments”

If you are new to investing, start today and be on your way to becoming an Automatic Millionaire Real Estate Investor. Properties in the USA average about a 5% increase in value every year.  My first investment property I bought 35 years ago for $185,000 is worth over $1,000,000 today.  That story can be heard all over the country. There are more millionaires being made from real estate investing than any other investment.

Call Myrna Young at 239-542-5777 Century 21 Selling Paradise and to schedule your listing or property management consultation or email me at info@myhelps.us.

You can also check out my blog https://blog.myhelps.us/ and subscribe to my iTunes podcast  to listen the Transform your Mind podcast and receive weekly tips, Life coaching advice, and, Realtor property management, tips and strategies.

Some past episodes:

https://blog.myhelps.us/how-to-create-the-freedom-lifestyle-through-real-estate-investments/

https://blog.myhelps.us/how-to-invest-in-real-estate-with-no-money/

Real Estate Investing with No Money

Real estate investor, Trainer Trevor Evans, teaches, how to invest in real estate with No Money. Trevor teaches, how to get funding for your deals, fix and flip,  your, investment properties, and, how to flip a house.

Watch the YouTube video to learn how to Invest in Real Estate from a, Rich Dad, real estate investor.

What you will learn about Real Estate Investing in this motivational video:

1. What are some strategies to purchase property for your,  real estate investing, business with little or no cash?

There are several way to do this. You can max out your credit cards, you can set up a lease to own deal, you can get seller financing.

2. What does, Hard money lenders, look for in a good deal?

They look for the ROI or return on investment

3. How do you make your deal attractive to a, Hard money lender?

Show that the resale value is at least 40% higher that the investment.

Strategies using other people’s money to fund your, real estate investments:

1. Using your credit cards to fund your deals. The more credit you have the better off you are!

2. Hard money Lenders,  Hard money lenders,  look at the asset and not at your credit score.

3. Borrow money from friends and family. You convert them into, Hard Money lenders, and pay them a good interest rate to start your, house flipping, business.

4. Borrow from your Whole Life Insurance policy.

2. Take a loan from your 401K.

3. Take out an Equity line of credit on your personal house.

 

The commonly used strategy in, real estate investing,  is the use of a, Hard Money Lender.

You need a, Hard money lender, for your, real estate investing, business. A money lender does not look at your credit, what does he look for?

1. Your expertise. Most, Hard money lenders, want you to have three investments under your name. This does not include your personal residence.

2. The ARV or after repair value. The property must have equity before the deal is made.

3. How did the property come on the market. Eg is it a Foreclosure, short sale or probate.

4. What is your, exit strategy? Is your, exit strategy, to, buy and hold, or, fix and flip?

5. How long you need to complete rehab work.

6. How much is the estimated cost of repairs.

 

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Hard Money Lender do not offer 100% Financing

Make no mistake, hard money lenders, need borrowers to deploy their capital and get a return on investment for their capital partners. They often enjoy repeat business, real estate investing, aren’t typically one-time borrowers, so asset-based lenders like, hard money lenders, or, private money lenders, value the business relationships they develop with quality borrowers.

Real estate investing, with no money down or little or no cash is to borrow from, Hard money lenders, who charge high interest for short term loans. When, hard money lenders, provide a loan, they want to be confident that the, borrower, is able to repay the loan on time. If the, borrower, isn’t able to pay back the loan, this creates a great deal of extra work, stress and potential financial loss for the lender. A strong, borrower, with a significant down payment (or equity in the property) and cash reserves has the best chance of obtaining a, hard money loan, and succeeding with their, real estate, project.

Sponsor AD :

Myrna Young South Florida Realtor

Are you looking to invest in the south Florida or Fort Myers market? The time is ripe for investors. As a realtor, I have access to, off market discount properties, and, wholesale properties, for either your, buy and hold, or, fix and flip, investment strategies. Call  954-999-6125 for all your Sales, Rentals or Property Management services. We are licensed in, real estate, and, property management, and will sell or lease your house. Don’t delay, Call today 954-999-6125 or contact us @ https://www.realtor.com/realestateagents/myrna-young___3322478_080499227

Looking for a, Hard Money Lender? Here is an article from Connected Investors on how to get bids on your project.

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Connected Investors, the world’s largest, real estate investing, network and marketplace, today announced the launch of the first centralized real estate investment funding portal, CiX.com. The technology allows real estate investors to quickly and easily submit their deals to a network of asset-based lenders, ensuring the best terms for loans on their, investment properties.

Subscribe to the Transform you Mind podcast with Coach Myrna to get notification of all shows, Life coaching tips as well as Real Estate Investment tips and strategies.

Additional Resources

http://blog.myhelps.us/how-to-create-the-freedom-lifestyle-through-real-estate-investments/

How to Build Wealth with Turnkey Real Estate Investing