Whether times are good or bad, lenders always have foreclosed properties in inventory. During a recession the inventory may be high. One of the problems that banks and insurance companies have is disposing of this real estate owned (REO). They are faced with the decision of whether they wish to dispose of the property immediately […]
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Investment Planning
A prospective investor may have a problem getting started with a real estate investment because of the great variety of properties that are out there. They may be fearful that someone will “sell” them something – something that is wrong for them. An answer to these problems can be an interview with an interested professional […]
Read more.Knowing The Value With Appraisal
The purpose of any real estate appraisal is to determine the market value of the property being appraised. The handbook of the Appraisal Institute defines market value as; “The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, […]
Read more.Creative Management and Other Ideas
Renting To The Right Tenant Property managers must always think about the type of tenant that is most likely to reside in that particular building. For example, when apartments in a project rent for $16,000 to $24,000 per year, tenants will be concerned primarily with quality shelter. This means a safe, clean, efficient building but […]
Read more.Analyzing Office Building Vacancies
Office buildings are excellent commercial properties to own. One of the most important jobs of a leasing agent for a building with available space is to analyze other buildings to see if any tenant could be induced to move. Newer buildings may fill up at the expense of older buildings. Since new buildings cost more […]
Read more.Controlling Property With A Purchase Option
A purchase-option contract lets the buyer-optionee purchase a property at a specific price within a certain period of time. If the option is exercised, a closing is held and the property is purchased at the price previously agreed upon. There is no legal obligation to buy the property. But, if the optionee does not exercise […]
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