Have You Dreamed of Financial Freedom?

Have You Dreamed of Financial Freedom?

Have you ever wondered what it would be like to wake up in the morning with enough money coming in so that you could do what you want that day? Many of our clients have achieved financial freedom (we call it Wake-Up Money) even with modest incomes through their investment in local real estate; specifically homes and condos. Current real estate conditions have created an environment for real estate investor that is unique in the history of Northwest Ohio. The FREE Seminar on January 16, 2014 starts at 7:00PM in our RE/MAX Masters Office Building in the Meeting and Conference Room at 810 West South Boundary.

At this seminar, you will learn:
•    The benefits of Perrysburg (and Northwest Ohio) residential real estate investment.
•    How to build wealth quickly through real estate investment.
•    How to set up your investment goals.
•    The step-by-step process for purchasing investment property in Perrysburg.
•    You will leave armed with information, forms, knowledge, and a detailed plan to go and get on the way to having Wake-Up Money.
•    Financial Freedom is possible and it is available.
•    The correlation of property, interest rates, tax laws, investment opportunities, market forces, population changes, and financial changes has made the acquisition of Wake-Up Money in Perrysburg available for those with the foresight to plan for it.

Call my front office to reserve your seat! Have a great day and see you there!

Get your invite by clicking this link!

10 Tips to Help You Begin Flipping Houses!

10 Tips to Help You Begin Flipping Houses!

Today I am coming to you from 1713 Trailview Drive in Maumee, Ohio. In this beautiful neighborhood, this brick ranch was left abandoned and completely destroyed on the inside with holes in the wall and ruined carpet. After the new owner Derek Martin replaced the windows, rebuilt the furnace, added new paint to the kitchen and bathrooms, a privacy fence and replacing the carpet and flooring, the house is very sharp. Derek buys homes to sell after he “rehabs” them and I am currently selling it. If you’re looking to flip homes, I have included ten tips to help get you started in the right direction.

1. Do not get emotional about house flipping. It is after all a business. If the numbers do not work, proceed to the next property. Some investors commit the mistake of being too attached to the flip that they sell at a high price and end up holding the flip longer thus reducing profit.

2. The front door.   How does it look?  First impressions count. Pay attention not just to the inside of the house but the outside as well. You cannot show off all the upgrades done inside the house if potential buyers are turned off by the outside appearance of the house and its surroundings.

3. Personal tastes are a no-no in a flipped property. Your flip needs to be attractive to buyers, not you. You should define who your target buyer is and what is his/her preferences. Color is a vital part of flipping houses. Stick to neutral colors especially when it comes to painting and laying the carpet.

4. Think about what the buyer will want/love/see.  Spruce up the kitchens and the bathrooms. They will noticeably increase the price of a house. But be sure that fixtures and appliances match the target price range. If the kitchen and bathrooms look clean, sleek and updated, the house will sell faster and for a higher profit.

5. In house flipping, time is money. After making a detailed list of renovations to be done, come up with a timeline. A timeline is an important way to let contractors know when the next group of workers needs to be in a specific part of the house. One rule of thumb is to work from top to bottom and tackle the big work projects first.

6. Ignore this if YOU are the contractor.  Otherwise hire a good contractor. You cannot be at the job site all the time. This is where the contractor comes in handy. He can keep a close watch on your time line and also the part of the budget that is his responsibility. He can keep track of problems and readily find solutions. The easiest way to find a good contractor is through referrals.

7. Be ready for paperwork. There are loads of paperwork that accompany house flipping. The most important paperwork you will have to attend to are permits. It takes time to obtain permits so you need to apply for them before work begins. Not having the necessary permits can cause work stoppage and this cost money. Contracts and receipts are doubly important. Be sure to keep them. You also need to obtain insurance coverage not only on the property but the workers as well.

8. Fast.  Move fast.  Then move faster!  Keep track of your progress. Throughout the entire house flipping process, you have to constantly monitor your progress. That way, you will know at any given time where you stand on the project. This will help you keep focused. Time is of the essence in house flipping.

9. Don't buy a $400,000 home with a pool.  As your FIRST flip.   Start small or simply, and then work your way up. Your first house flipping project should only entail cosmetic work. You may not get a huge return on your investment but you will surely learn valuable lessons and develop experience.

10. As with any business venture, expect the unexpected. You will certainly encounter something that you simply did not expect. It may be a problem that appears hours before the transfer of ownership. You will almost always run at least a little over budget or hold the flip a little longer than expected.
The house is very spacious and the asking price is $109,000. If you would like me to show you this home, give me a call at (419) 466-7653.