Dallas Appraiser L.L.C. wants your help and commentary on our Real Estate Blog

5 House Flipping Don'ts

keywords: #DFW, #Tarrant, #Johnson, #Dallas, #home_appraiser, #home_appraisal, #Property_appraiser, #home_value, #real_estate_appraisal, #Appraisal, #Appraiser, #Home_size, #equity, #REO, #foreclosure, #property, #Home, #House, #Real_Estate, #Measure, #house_size, #House_square, #square_footage #hard_money, #Loan, #Mortgage, #Refinance, #subdivide, #For_sale_By_Owner, #Real_estate_appraiser

When it comes to making money in the business of flipping houses and other real estate investments you will find all kinds of do's and don'ts along the way. The truth of the matter is that these are extremely useful whether this is your first house flip or you have been flipping houses for years. In fact you might just find that you can learn something new on occasion by reading lists such as this even if you've been flipping houses for years and have many successful flips under your belt.

1) Don't forget to check out the neighborhood before you buy. You will want to make sure that the property you are considering is a good fit for the neighborhood. You should also take the time to make sure that the plan you have in mind for the property will match well with the other neighborhood residents in order to guarantee a quicker sale.

2) Don't blow your budget without just cause. Your budget is what you used to determine whether or not the house would be a profitable venture. If you blow your budget and cannot recover the extra money you've spent in the selling price on the house you will have seriously cut into your profits if not eliminated them all together. The goal in property flipping is to get in and out quickly and spend as little money as possible in order to make as much money as possible.

3) Don't forget to set daily goals and hold yourself accountable to those goals. If you don't reach your goals for the day it can set the entire project back by as much as a month depending on the goals and what has to be rearranged as a result. Stick to your timeline and your daily schedule in order to avoid potentially costly delays in time and money.

4) Don't neglect the exterior. Curb appeal is what brings buyers into the property. If you spend all your money, time, and effort making improvements to the exterior of the home you will have little left to make the outside appealing to potential buyers. A homebuyer is in the market for the entire package. A home that looks run down on the outside leaves the impression of being neglected on the inside and many potential buyers will never walk inside if the outside looks forlorn.

5) Don't spend money you don't need to spend. While it would be great to put in granite countertops and gourmet kitchens into every home it isn't always practical and this is often money that will not be recovered, particularly in homes that are in marginal neighborhoods. If you want to get the most for your money avoid costly expenses that aren't exactly necessary for the successful completion of the flip. Resurface bathroom fixtures rather than replacing them if possible and use new cabinet doors or hardware rather than adding new cabinets all together to cut down on expenses. In other words, salvage what you can, fix what needs to be fixed, and add a few cosmetic touches before moving on.

The market for real estate is a very fickle market. Avoid risking too much time and money on a property that isn't going to recover those added touches and expenses. Instead hold onto those ideas for higher end flips once you have a few successful flips under your belt.

PPPPP

570

5 House Flipping Do's

keywords: #DFW, #Tarrant, #Johnson, #Dallas, #home_appraiser, #home_appraisal, #Property_appraiser, #home_value, #real_estate_appraisal, #Appraisal, #Appraiser, #Home_size, #equity, #REO, #foreclosure, #property, #Home, #House, #Real_Estate, #Measure, #house_size, #House_square, #square_footage #hard_money, #Loan, #Mortgage, #Refinance, #subdivide, #For_sale_By_Owner, #Real_estate_appraiser

While many people have very specific dreams of enjoying the bountiful profits that can be made from flipping houses very few people put too terribly much thought into the process or any formulas that might be pertinent to success when it comes to flipping houses as a real estate investment venture or for the sake of building a nice comfortable lifestyle or retirement. You will hear a lot about the things not to do when it comes to flipping houses but very few people take the time to mention the things you absolutely must do in order to successfully flip a house and thus begin your ride on the road to real estate investment riches.

1) Do put everything to pen and paper and plan it out carefully before you begin. If you are going to enter into this to make money you need to treat it like a business. This means you need to have a plan of action and make every effort to work towards carrying out that plan.

2) Do establish a budget for the entire project. You need to have a plan for how much money you are willing to invest in the property itself, how much for renovations, and how much money you need to make in order to be a worthy investment for your time and labor. A house flip is a lot of work in order to pull it off successfully. You want to have a good idea of how much homes in the neighborhood are worth, the value of your property as is and the estimated value of the property once improvements are made. In addition you should also have a pretty firm grasp of the costs involved in making the repairs in order to create a realistic budget for the entire project.

3) Do have an inspection. This is the single most important detail that can save you a great deal of time, money, and heartache when everything is said and done. Be prepared to walk away if the inspection determines that there is more work needing to be done than simple cosmetic repairs. You want to make changes that people can see because those are generally the changes that drive up the cost of the house. You want to avoid needing to make changes and improvements that aren't visible but are very necessary. If you need to invest a lot of money and labor into the house you need to seriously consider the realistic profit potential the property offers. If it isn't significant then you need to walk away before the property becomes a real estate investment money pit.

4) Do know the neighborhood and plan your flip according to the needs of the area rather than your personal tastes and needs in a home. This is another thing that many first time flippers forget. This is not a personal project it is a business project and you need to treat it as such. Keep costs down and feelings out.

5) Do remember that you are in the market to make money not waste money when it comes to establishing an asking price for the property. You've poured blood, sweat, and probably more than a few tears into your flip but you cannot set the value of the property by the effort you've placed into it. Have realistic expectations of how much you stand to earn from your efforts and how much you are willing to go down on the price in order to walk away with some profit in your pocket.

You should also take a moment to reflect upon the fact that many first time flippers actually lose money on their first flip. If you turn a profit at all, even a small profit you have learned many valuable lessons that you can carry with you into future flips and make more money. More importantly the lessons you learn from your first flip are lessons that money really cannot buy so it is worth a lower profit or even taking a slight hit if your experience makes you even more money in the future as you continue along your real estate investment path.

699

Title: 

10 Ways to Buy a Home With Little or No Money Down

Word Count:

994

Summary:

There are many ways to buy a home, even if you have bad credit and little or no money to put down. A few of the basics are sweat equity, seller carry-back, rent-to-own, and community programs.

keywords: #DFW, #Tarrant, #Johnson, #Dallas, #home_appraiser, #home_appraisal, #Property_appraiser, #home_value, #real_estate_appraisal, #Appraisal, #Appraiser, #Home_size, #equity, #REO, #foreclosure, #property, #Home, #House, #Real_Estate, #Measure, #house_size, #House_square, #square_footage #hard_money, #Loan, #Mortgage, #Refinance, #subdivide, #For_sale_By_Owner, #Real_estate_appraiser

Article Body:

There are many ways to buy a home, even if you have little or no money to put down. Here are a few of the basics:

1. Sweat Equity

Sweat Equity is a way to get a home by trading work for equity in the house. This could be used for a down payment or for purchase later.  This is a great technique if you are handy with tools, yard-work, and paint.

Look for fixer-uppers in neighborhoods you are interested in. Many times these homes will have a hard time selling and the owner is ready for just about any offer. You will find these houses ranging from just needing a little ‘cosmetic’ work like landscaping or painting, to totally trashed out houses in need of some serious renovation. If you are into repairs, this is a great way to get a home for a good deal.

If you are not skilled at repairs and renovation, be careful about fixer-upper homes. They could end up costing you quite a large amount of money to pay others to fix.

I also recommend getting a home inspection so that you know what exactly you are in for before you begin.

2. Seller Carry-Back

Look for a home with an assumable loan. Instead of buying out the owner's equity, ask the seller to carry back a second mortgage for the rest of the money owed. If you can get the seller to carry all of the rest, you can get the home for no money down.

3. Offer an Object for the Down Payment

 Offer something other than cash (land, a car, a boat, or valuable collectibles) to the seller instead of a cash down payment. This is why it is important to listen to sellers.  Find out what they want and need.  Maybe you have (or can get) just what they need. For instance maybe they wanted to use the down-payment to buy an RV and it turns out that you just happen to have one you do not need. Offer that vehicle as a down-payment, and it saves you from coming up with the cash.

4. Offer Services for the Down Payment

Offer your services or expertise to the seller in lieu of a down payment. Some examples include $10,000 worth of auto services if you're a mechanic, dental work if you're a dentist, desktop publishing services if you're a designer, artwork if you're an artist or legal work if you're an attorney.

5. Foreclosures

Look for foreclosure properties that require little or no down payment. Some lenders and government agencies will let you buy a foreclosure with no down payment if your credit is good and they're anxious to have the home occupied, or if you have skills (carpentry, landscaping or even painting) that you can use to increase the home's value. Distressed properties - assume with little or no down to save foreclosure.

6. VA or Other No Money Down Loans

 Look for conventional loan programs such as VA or FHA that require little or nothing down.  VA loans have helps countless veterans get into their homes. There are often programs available to first time buyers or people who are distressed (such as with Hurricane Katrina) that will help people get into a home with little money down.  You usually will have to qualify for the loan with the bank, though.

7. Find an Investment Partner for Equity Sharing

Look for an investment partner who'll put up some or all of the cash in an equity-sharing partnership. You make the monthly payments and the two of you split the eventual resale profits.

8. Wrap-Around Financing

Wrap-around financing is where you assume a seller’s VA Loan by doing a new Contract for Deed.  Since this contract is flexible and does not have to follow the old loan, you can ask the seller to carry not only the loan amount, but the rest of the purchase price of the house, letting you get in with little or no money down.

9. Rent-to-Own or Lease-Option

This is really is one of the best ways to get into a home of your own when you can’t get a bank loan.  Remember that you may still have to get a loan down the line.  If you have a lease-option for 5 years, at the end of that time, you will need to purchase the house, so you can use the time to fix your credit, or use one of the other options that are discussed in our book to purchase the house at that time. You can always try to negotiate another 5-year lease-option if you need more time. (For more detailed information on lease-options, check out our free ebook, "Buying a Home When You Have Bad Credit" at http://I-can-buy.com.)

10.  Government and Community Down-payment Programs

There are many community and non-profit organization programs out there to help people get into homes of their own. Many of these do no require any money down. 

There are some organizations and programs that will pay for some or all of the down payment for you. Generally these are for lower to moderate-income individuals, but these days that includes a lot of people. You also usually have to be able to qualify for an FHA loan (which is somewhat easier than a conventional bank loan.) If you have been unable to get into a home because you donít have enough money for a down payment, then maybe one of these programs will be for you.

Below is a list of organizations that have down payment assistant programs:

- AmeriDream Inc.

http://www.ameridream.org

- National Home Foundation

http://www.nationalhomefoundation.org

- GiftAmerica Program (GAP)

http://www.giftamerica.org

- The Nehemiah Program

http://www.nehemiahprogram.org

- New Song Down Payment Assistant Program

http://www.buyers-assistance.com

- Equity Grants

http://www.equitygrants.com

- Realty America

http://www.realtyamerica.org

- Homes For All Program

http://www.ezdownpayment.com

Also check in your local area, because many communities have similar programs of their own.

Title: 

Home Office Tax Expenses in Real Estate

Word Count:

403

Summary:

Self-employed individuals often work out of their own home. If this is the case with you, here is a primer on home office tax expenses you can claim on your taxes.

keywords: #DFW, #Tarrant, #Johnson, #Dallas, #home_appraiser, #home_appraisal, #Property_appraiser, #home_value, #real_estate_appraisal, #Appraisal, #Appraiser, #Home_size, #equity, #REO, #foreclosure, #property, #Home, #House, #Real_Estate, #Measure, #house_size, #House_square, #square_footage #hard_money, #Loan, #Mortgage, #Refinance, #subdivide, #For_sale_By_Owner, #Real_estate_appraiser

Article Body:

Self-employed individuals often work out of their own home. If this is the case with you, here is a primer on home office tax expenses you can claim on your taxes. 

Home Office Tax Expenses

America is a country built on small businesses. Yes, the big companies are the darlings of the media, but the guts of our economy are the little guys pursuing the American Dream from the extra bedroom. Fortunately, the tax code contains deductions tailored to help cut your tax bill. 

When claiming home office tax expenses, it is important to keep a receipt for each and every amount you are claiming. When dealing with the IRS, receipts are your ammo. Keep them at all costs.

When maintaining a home office, taxpayers often wonder how they differentiate a business expense from a simply home expense. The key is the square footage. Simply divide the square footage of your office by the total square footage of the home. This number is typically represented by a percentage such as 20 percent. Put another way, the home office represents 20 percent of the square footage of the house. Once you have the above answer, you can multiply it by the total yearly amounts paid for rent or mortgage interest, insurance, maintenance, utilities, taxes, depreciation of the home and repairs. Each of these home office tax expenses figures can then be deducted. 

In addition to the above, you can also deduct expenses completely related to the business. For instance, the purchase of a desk for the office is entirely attributable to the office and can be deducted in full. 

Words of Caution

There are some limitations to home office tax expenses. If you are reimbursed by an employer for various home office expenses, you cannot also claim those expenses as a tax deduction. Sorry, no double dipping. 

For some time, there has been an urban myth that the Internal Revenue Service keeps a close eye on home-based businesses. This may have been true ten years ago, but is clearly not the case today. To this end, the IRS has actually come out and issued clear statements to the contrary. Do not fail to claim home office tax expenses because of a fear of an audit. It is simply not a rational fear!

Running a small business can be both stressful and incredibly gratifying. Make sure you claim home office tax expenses to help your cash flow.

Title: 

Home Business Taxes in Real Estate

Word Count:

455

Summary:

Just the thought of taxes can scare people out of their minds. You have to keep all your records and documents in order to be able to file easier at the end of the year. Home business owners have their own set of allowable deductions that differ from other businesses. You have a chance to save a lot of money by knowing how to take advantage of you home business situation.

Know what your deductions are. There are several deductibles that the home-based business owner is entitled to.

keywords: #DFW, #Tarrant, #Johnson, #Dallas, #home_appraiser, #home_appraisal, #Property_appraiser, #home_value, #real_estate_appraisal, #Appraisal, #Appraiser, #Home_size, #equity, #REO, #foreclosure, #property, #Home, #House, #Real_Estate, #Measure, #house_size, #House_square, #square_footage #hard_money, #Loan, #Mortgage, #Refinance, #subdivide, #For_sale_By_Owner, #Real_estate_appraiser

Article Body:

Just the thought of taxes can scare people out of their minds. You have to keep all your records and documents in order to be able to file easier at the end of the year. Home business owners have their own set of allowable deductions that differ from other businesses. You have a chance to save a lot of money by knowing how to take advantage of you home business situation.

Know what your deductions are. There are several deductibles that the home-based business owner is entitled to. There are auto/vehicle deductions that can help with mileage, gas, insurance, and/or other related expenses. You can write off your business cards and stationary, plus any business meals and entertainment. All business traveling expenses, education, and even the interest on your business credit card can be counted in your favor. If you use a computer the Internet service and web page related expenses could be deducted as well. Office furniture, supplies, your phone and other communication devices are also necessities that have deductions. Any postage or delivery of goods charges is also considered a business expense. The home-based owner can also get deductions on rent and utilities that keep the business running. Deductions that you will want to use on your 1040 form are:

* Half of your self-employment tax amount, which can offer you a huge savings.

* As much as 100% of your medical insurance costs for you and your family.

If you make more than $600 per year in self-employment you must file your taxes. You may qualify for the C-EZ form if you have had a bad year or just got started. Your total business expenses will have to be less than $5000 for that year; you have no inventory, or have to file a 4562 form (depreciation and amortization form). Make sure first and foremost that your expenses are less than $5000 and that you have taken all the deductions you are entitled to.

A large decision is who will be doing your taxes. we recommend you check out www.taxmasterdfw.com for professional help. You need to decide if you plan to do them yourself or if you want someone else to do them for you. There are several advantages in using a tax professional. They can save you much time and unneeded frustration. They can spot deductions you might miss or not know about. It also saves you from being responsible for any errors that were made in the preparation, which could end up saving you thousands. No matter how you decide to prepare your taxes be sure to claim all possible deductions to save you money in the long run. A business has many breaks for the taxpayer for a reason and you should make sure you know what you qualify for and how to save.

Title: 

Home Business Tax Deductions in Real Estate

Word Count:

315

Summary:

Dreading April?

If you are running a home business, it is important to remember that there are tax deductions for you when tax season rolls around. Of course, you do not want to try to fool the IRS (no one wants to run the risk of being audited!), but you do want to take advantage of those deductions that are rightfully yours. Running your own home business takes much of the same expenses, effort, time, space, equipment, and travel as any other business. Below are some home business deductions.

keywords: #DFW, #Tarrant, #Johnson, #Dallas, #home_appraiser, #home_appraisal, #Property_appraiser, #home_value, #real_estate_appraisal, #Appraisal, #Appraiser, #Home_size, #equity, #REO, #foreclosure, #property, #Home, #House, #Real_Estate, #Measure, #house_size, #House_square, #square_footage #hard_money, #Loan, #Mortgage, #Refinance, #subdivide, #For_sale_By_Owner, #Real_estate_appraiser

Article Body:

Dreading April?

If you are running a home business, it is important to remember that there are tax deductions for you when tax season rolls around. Of course, you do not want to try to fool the IRS (no one wants to run the risk of being audited!), but you do want to take advantage of those deductions that are rightfully yours. Running your own home business takes much of the same expenses, effort, time, space, equipment, and travel as any other business. Below are some home business tax deductions to remember as April is drawing near.

If you have a home office that is dedicated solely to your home business, you can add it to your list of home business deductions. The same goes for telephone charges, office supplies, furniture, software, subscriptions, and other equipment. Do not fear an audit for making these home business tax deductions as long as these items are used exclusively for your home business. 

If your business requires you to leave your home office, you can add the cost of travel, mileage, meals, entertainment, and anything else that goes along with the cost of living on the road to your home business tax deductions. During the year, make sure you keep documentation of your mileage, your trips, food, etc.

 

Now, what about the really big stuff? Well, when making home business tax deductions, you can also take into consideration insurance premiums (if you are self-employed and pay for your own insurance), the money you deduct for retirement, and half of what you pay towards your social security. And if your children are seventeen or younger and are working for you, you can deduct their salaries as business expenses. 

This is just a quick scan of the home business tax deductions you can take advantage of. For more information, check out www.bankrate.com, and talk to a tax professional.

Title: 

10 Steps to Getting Top Dollar for Your Home

Word Count:

916

Summary:

Properly preparing your home for sale is critical to your success. Taking the time before you sell to make some cosmetic changes could net you more money at closing. The following suggestions will help you with this task.

keywords: #DFW, #Tarrant, #Johnson, #Dallas, #home_appraiser, #home_appraisal, #Property_appraiser, #home_value, #real_estate_appraisal, #Appraisal, #Appraiser, #Home_size, #equity, #REO, #foreclosure, #property, #Home, #House, #Real_Estate, #Measure, #house_size, #House_square, #square_footage #hard_money, #Loan, #Mortgage, #Refinance, #subdivide, #For_sale_By_Owner

Article Body:

When you decide to sell your home you should immediately begin referring to it as a house. You have become emotionally attached to this place and it is now time to say goodbye. Start detaching yourself by making some changes that will help you with the sale of the house. 

You probably have accumulated a lot of clutter over the years. This must be the first step.

1.  Un-clutter your home. Start in the basement and either throw things out or rent a locker off premises to store it until you move but prospective buyers need to see what the house looks like behind all your stuff. This means going room to room and clearing everything out that makes it look junkie and disorganized. 

2.  Neutralize the personal nature of your home. You may love the native tapestry on the living room wall from Bora Bora but I will guarantee 95% of   your prospects will have it on their mind when they leave your home and not in a good way. Knick knacks and generally all things that you have previously enjoyed should be stored away until after the sale, that includes grandma’s spoon collection that takes up half a wall in the kitchen. Replace these things with neutral items like picture frames or vase with a simple arrangement.

3.  Minor cosmetic work. Once you remove the clutter you will see all the things that you have been meaning to get to over the years. Painting where necessary, new carpet/s, moldings repaired, cracked plaster and re-taping/ repairing drywall. When making these improvements think neutral colors for any coverings be it paint or carpets. If you have hardwood floors sand them and finish them. Area rugs can look amazing. Whatever you do, don’t over do it. Try and think like a buyer.

4. Hire a professional cleaner. Once you have the house cleared you should hire a professional cleaning crew to wash the walls, windows, work over the kitchen and bathrooms, clean the floors and shampoo all carpets that do not need to be replaced. Your house should be spotless and kept this way for the duration.

5.  Staging each room. If your rooms are smaller rearrange the furniture to make the room look bigger. For example removing some furniture is better than having too much cramped in. Set your furniture up in conversation pit style. Like a gourmet coffee house, make it cozy. Pull couches away from walls to give the appearance of depth. Remove wall clutter, one or two pictures but no more. Generally make it look inviting.

6.  Kitchen and bathrooms. These are the most important rooms in your home to a buyer. Make sure they are impeccable. Plumbing fixtures should be working properly and look like new or they should be replaced. Use a good cleaner or even a metal polish to make them gleam. Showers and tubs need to be spotless! Sinks and vanities need to be pristine and uncluttered. Kitchen cupboards should be orderly, doors opening and closing properly, drawers the same. I can’t stress enough how important these two rooms are to your potential outcome.

7.  Doors and windows. First thing prospects see when they walk in your home is a door. Make sure its painted or cleaned up and that it will open and close properly. This goes for screen doors as well. Often screen doors are a problem people let go. Not anymore. Windows should all be cleaned and be sure if someone wants to open them that they work properly. If they have been painted closed as is the case with some older homes, now is the time to get them to open. Do whatever it takes. 

8.  Garages and workshops. These are the second most important areas. Again remove all clutter from the garage and make it accessible so you can actually park your car in it! As for the workshop, try and organize it so the handy person prospect will appreciate what they can do with their ‘new shop’ when they move in. It is all about your prospect picturing themselves in your house. 

9.  Family effort. Everyone in your family needs to be on board with the presentation of the house. This means your kids need to buy into the project and keep their rooms tidy. Bribe them if you need to but everyone has to help maintain the appearance of the entire house. 

10.  Odors and pets. Wow, is this ever important. If you have pets only you really love them. When you walk into a house with dogs or cats you immediately smell them, especially if you do not have your own. Keep litter boxes fresh and clean daily. Restrict your animals if at all possible to certain areas of the home until after the sale. Vinegar and water will do wonders when you clean their areas every other day until the sale is complete, and top it off with effective air fresheners wherever you need them. Vacuum often with carpet fresh powders two or 3 times a week.

This sounds like quite a bit of work and it is. Try and remember that by following these tips you could easily add five to ten thousand dollars to the sale price of your home, maybe more. A little elbow grease now will be a solid investment.

The Author is the President/CEO of www.realestatemate.com , www.homeheap.com  and www.agentsmate.com . He has over 26 years experience in the real estate industry.

©Copyright 2006, Used by Permission, All Rights Reserved

Title: 

10 Steps to a Successful Urban Redevelopment Project

Word Count:

458

Summary:

Information, creativity, sensitivity, and communication are keys to successful urban redevelopment projects.  Use these proven methods to gain public approval and community support.

keywords: #DFW, #Tarrant, #Johnson, #Dallas, #home_appraiser, #home_appraisal, #Property_appraiser, #home_value, #real_estate_appraisal, #Appraisal, #Appraiser, #Home_size, #equity, #REO, #foreclosure, #property, #Home, #House, #Real_Estate, #Measure, #house_size, #House_square, #square_footage #hard_money, #Loan, #Mortgage, #Refinance, #subdivide, #For_sale_By_Owner

Article Body:

You have got a project with exceptional architecture, you have completed months of review and modification, your design team is sure this project will get significant notoriety, yet after hours of going back and forth in City Council meetings, they ask you to cut the project in half, increase the setbacks, or just drop the project altogether.

Does this sound familiar? 

Developing commercial and residential projects in urban areas require special care.  While some urban areas are on the verge of new developments, misunderstanding and community opposition can block even the best designs. 

You can reduce risks by taking a thoughtful approach to the process.  Some residents and politicians demand programs be based on trust, openness, and consensus building.  This should not mean you compromise your design.  Executing these ten important steps can result in strong design and a smooth process. 

Consensus does not mean that everyone agrees, it is more about showing respect for different opinions, developing relationships, and identifying shared goals to establish positive public opinion so the project will gain community and government acceptance. Itís important to nurture supporters and expose the extremists.

The following 10 points should be addressed: 

1) Create the vision.  It is about design, not density.  Establish a vision early by connecting it to local settings and looking for ways to build partnerships.  Good design attracts people.

2) Know your market.  Do the homework necessary to understand the competition and the market forces that influence a project.

3) Understand the issues.  All communities have a set of unique characteristics and issues that guide their decisions.  It is essential to have a good understanding of the marketplace, environment, regional influences, and financial aspects.  There is no single solution. 

4) Get the public benefit.  Make the benefit for the city & community clear. 

5) Pay attention to everyone who has a stake in the project.  Have small discussion groups to get their feedback.

6) Establish trust.  Do this by sharing knowledge and listening carefully.  Be honest, encourage participation from everyone, stay neutral and pursue win-win goals. 

7) Inform decision makers.  Meet one-on-one and provide solutions to educate decision makers. 

8) Use the media.  Take the high road and keep the message simple.  Talk about helping the community. 

9) Use the unique.  Incorporate the area’s physical social and historical environment into the design. 

10) Be patient .  Listen carefully, provide guidance, establish credibility, and let the process grow. 

By using these ten points, several revitalization plans have been completed in the face of strong initial community resistance.  Guided by strong visions which have been established by working with city programs launched to solicit feedback and educate everyone have had a profound effect in the success of revitalization efforts.

Implementing major public and private improvements can convert old spaces into lively gathering places for community activity.

Title: 

7 Simple Steps To Real Estate Investing

Word Count:

872

Summary:

The Next Level Institute is dedicated to helping real estate investors - whether a brand new or a seasoned investor - become more successful with less effort. Get your free 4-part mini-course on finding deals AND learn the 7 keys to sucking in the deals faster than a ‘Hoover’ vacuum! Get your free e-book at: www.7steprealestate.com.

keywords: #DFW, #Tarrant, #Johnson, #Dallas, #home_appraiser, #home_appraisal, #Property_appraiser, #home_value, #real_estate_appraisal, #Appraisal, #Appraiser, #Home_size, #equity, #REO, #foreclosure, #property, #Home, #House, #Real_Estate, #Measure, #house_size, #House_square, #square_footage #hard_money, #Loan, #Mortgage, #Refinance, #subdivide, #For_sale_By_Owner

Article Body:

Whether you are BRAND NEW to real estate investing or an expert in the game, it is critical that you understand these 7 Simple Steps to real estate investing. 

First things first

Real Estate is NOT a get rich quick scheme. However, if you learn the foundations and put them into practice, you will make more than enough money to realize any and all of your dreams and goals. 

The real estate bubble is not going to burst! The real estate market will, however, shift and the real estate market will change ñ just as it always has! What is ‘hot’ now may turn ice cold in the next 3 years (or perhaps even 3 months). But, there are ways to ‘bubble proof’ your real estate investments. It is actually quite simple. 

Did you know that in the United States, in 1975, the median home price was $33,300? In 2005, the median home price was $195,000. Historically, the average home doubled every 7 years. If you do the math, it should be well over $200,000. 

OKÖ Now, having said thatÖ The real estate market WILL change and what is ‘working’ today in real estate may not in the futureÖ  The rental market was strong a decade ago, but has been soft in recent years. We are getting ready for a turn once again. 

Real Estate IS a cycle, and cycles have some degree of predictability. With predictability, you can grow your real estate business into a cash-producing, profit-pulling machine that runs itself WITH the changing real estate market trends. It is still possible to make money in real estate. In fact, now is just as good a time as any to get started in real estate investing.

But, you have got to make wise investments. Sure, you may make some SERIOUS cash in pre-construction, but what happens if (no, not if when) the market shifts and there are suddenly 35 identical properties on the market for sale in the same building? How long can you afford to carry a negative cash flow on the property?

Or how about taking over property ‘subject to?’ Sure, it is a great strategy and lenders may be inclined to turn the other way and not exercise the ‘due on sale’ clause as long as the interest rates are at rock bottom prices (You know, those sellers that you are usually taking property subject to from usually do not have the lowest interest rates, right?) If the interest rates spike to 10-11%, do not you think lenders might be MUCH MORE inclined to exercise their option to make you pay off the 6.5% note?

What this means is simply that you must be experienced in the basics ñ the tried and true techniques, strategies and systems that have worked in the past, are STILL working and will work in the future. You have got to have all the tools in your bag so that you can go with the flow and not be affected when real estate markets begin to shift (which they are already in the process of doing, in case you have missed that memo! ;-)

Step #1 - Set your plan: Figure out what your long term real estate goals are (aka retirement and wealth building) and figure out what your short term needs are with regard to making money in real estate. Then, set up the proper entities and put the plan in place.  

Step #2 - Determine what your target market will be: You cannot be all things to all real estate markets. If foreclosures appeal to you, start investing in the foreclosure market. If you want to be a landlord, look to out of state owners to focus your real estate marketing efforts. 

Step #3 - Be consistent and persistent: Real Estate is not a get rich quick scheme. Real Estate is get wealthy over time and put some quick cash in your pocket today. You have got to follow your plan and stick with it to see real results in real estate. You have also got to continue to increase your education and your experience. 

Step 4 - Do not fall into the ‘Analysis Paralysis’: Learn to analyze properties quickly. Do not get caught up overthinking. It is quite simple actually: What is the property worth? What does the property need for repairs? And how much can you get the property for? It all comes down to numbers! 

Step 5 - Become a master of finance!: Real estate is the business of marketing and finance. You must learn about mortgages and interest rates and loan programs that are out there. You must know how to use finance to negotiate your deals and to sell your properties. 

Step #6 - Become a skilled problem solver: The reason you will get real estate deals that others do not, is because you are able to solve people’s problems. Anything goes on the real estate playing field. You have got to be ready! 

Step #7 - You must continue your education: It is important that you are always investing in your education and learning new tactics, strategies and tips that will help you make more in real estate. 

If you enjoyed this article, make sure to look up the other articles discussing The 7 Simple Steps To Making Money on Real Estate.  The next article discusses Step #1 ñ set your plan in further detail!

Title: 

5 Major Reasons Why You Should Buy a Home Instead of Rent

Word Count:

865

Summary:

There are times when it is better for a person to rent, but most often home ownership has many more benefits and advantages... When considering home ownership, you need to weight the advantages and disadvantages for yourself.  If you are like most people, you will find that homeownership is worth the risks and disadvantages.

keywords: #DFW, #Tarrant, #Johnson, #Dallas, #home_appraiser, #home_appraisal, #Property_appraiser, #home_value, #real_estate_appraisal, #Appraisal, #Appraiser, #Home_size, #equity, #REO, #foreclosure, #property, #Home, #House, #Real_Estate, #Measure, #house_size, #House_square, #square_footage #hard_money, #Loan, #Mortgage, #Refinance, #subdivide, #For_sale_By_Owner

Article Body:

There are times when it is better for a person to rent, but most often home ownership has many more benefits and advantages.  

About 10 year ago a had a retired aunt and uncle who rented a condo in Las Vegas. Uncle Jim (not his real name) was a retired minister. Throughout his career he and his wife lived in parsonages, which are homes furnished by the congregation while they ministered there.  

He and his wife told me that the biggest mistake they ever made was not to invest in buying a home.  In their retirement years, when their other retired friends were living in homes that were almost paid off and had appreciated greatly, Uncle Jim and his wife were using a huge portion of their limited retirement money to make expensive condo rent payments. They strongly cautioned me not to make the same mistake they had.

Recent studies are showing that there are many benefits for both the owners and the community for owning your own home, including increased education for children,  lower teen-age pregnancy rate and a higher lifetime annual income for children. Besides these, listed below are some of the primary advantages for owning your own house.

1) More Stable Housing Costs

Rent payments can be unpredictable and typically rise each year, but most mortgage payments remain unchanged for the entire loan period. If the taxes go up, the increase is usually gradual. This stable housing cost especially important in times of inflation, when renters lose money and owners make money.

2) Tax Savings

Homeowners can be eligible for significant tax savings because you can deduct mortgage interest and property taxes from your federal income tax, as well as many states' income taxes. This can be a considerable amount of money at first, because the first few years of mortgage payments is made up mostly of interest and taxes.

3) Debt Consolidation

If you need to, you can refinance a mortgage loan to consolidate other debts (an opportunity you don't have if you are renting.) And the interest on this is also tax deductible. 

4) Equity

Instead of payments disappearing into someone else’s pocket, home owners are building equity in their own home. This is often one of a person's biggest investment assets.  Each year that you own the home you pay more toward the principal, which is money you will get back when the home sells. It is like having a scheduled savings account that grows faster the longer you have it. If the property appreciates, and generally it does, it is like money in your pocket. And you are the one who gets to take advantage of that, not the landlord. You can then use this equity to plan for future goals like your child's education or your retirement.

5) It is Yours!

When you own a home you are in control. You the freedom to decorate it and landscape it any way you wish. You can have a pet or two. No one can pop in and inspect your home and threaten to evict you. 

Even young people, like college students out on their own, can often benefit from home ownership. It puts them ahead of other young people their age financially by helping with their credit and giving them what is often an excellent investment. Often a college student buying a home will rent the rooms out, and his or her roommates end up making the payments for the house. When the student is ready to move on, her or she can sell the home (hopefully making a profit) or keep it as an investment and continue to rent it.

Buying a home is an important decision. It is often the largest purchase a person makes in his or her life. Home ownership also comes with some increased responsibilities, and isn't for everyone. There are some disadvantages to homeownership that you should take into account. 

1) Increased Expenses

Your monthly expenses may increase, depending on your situation. Even if the monthly payments are the same, home owners still have to pay property taxes, all the utilities, and all the maintenance and upkeep costs for the home.  Often you need to supply appliances that were furnished with a rental.

2) Decreased Freedom of Mobility

Homeowners can't move as easily as a renter who just has to give notice to the landlord. Selling a house can be a complex and time consuming process.  

3) Risk of Depreciation

In some areas with overinflated prices, there may be a risk that the house will depreciate instead of increase in value, if the prices go down. If you then sell the house, you may not get enough money from the home to pay back your mortgage, and you will still owe the mortgage company money. 

4) Possibility of Foreclosure 

If for some reason you are unable to make your payments, you risk having the lender foreclose on your property. This can result in the loss of your home, any equity you have earned, and the loss of your good credit rating. 

When considering home ownership, you need to weight the advantages and disadvantages for yourself.  If you are like most people, you will find that homeownership is worth the risks and disadvantages.