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Call the Right Shots with These Real Estate Investing Tips

by Randy Gridley

Real Estate Investing Tips

 

Investing in real estate can be a lucrative venture. However, it can also be a venture in which things go wrong. An investor stands to lose thousands if not hundreds of thousands of dollars if unnecessary risks are taken. Even if an investment looks promising from the start and the investor has performed due diligence prior to making a purchase, things can still go south.

Here are some tips to help ensure that the investments you make are as sound as possible. You want to take the following measures before, during and after you acquire various properties. These measures include:

Analyze Cash Flow

Do not take unnecessary financial risks. Do not buy a property sight-unseen or one that is clearly going to net a negative cash flow. Always run your numbers carefully before signing a deal. Make sure that you get your invested funds back in addition to earning a profit. 

Pass On a Fixer-upper

It is all right to buy properties that require a little work, perhaps a touch of paint or a new window here or there. Anything that needs a total rehab or comes without kitchen or bathroom fixtures should be avoided at all costs. Everyone needs somewhere to live. If you buy a property that is not perfect but can be spruced up for small change, you have little to worry about. You will find someone to rent it from you if need be. Leave the big rehabs to the experts. 

Obtain Long-term Financing

Do yourself a favor and finance once per property. You could refinance down the road, but this is more costly for you. You would have to pay for additional loan charges and that will eat up the returns you would get if you stuck to paying off your initial loan. If you can, finance one time only so as to keep your investment cash flow at its maximum. 

Get All Title Documents in Order

Be sure to review and organize all title documents upon closing. If you need to, go over any questionable items that come up on the title and resolve them prior to taking the deed over. You may also want to conduct your own survey of the property after reviewing the title work to secure your investment.

File the title binder away where you have easy access to it. Also, be certain you have all pages for the title insurance policy, title abstract, and the schedule of exclusions. Your title insurance agent can review them all with you just after your purchase is complete.

Insure Your Property with Liability Coverage

Insure your property properly. Make sure you have enough insurance on it to protect the property and your invested funds in it. Your insurance agent can help you determine the right coverage limits to purchase. The coverage should protect your investment if you are ever hurt in an accident or otherwise injured or incapacitated. 

Manage the Properties Properly

If you are renting properties and you live close to them, you can opt to manage them yourself. However, it is more financially sound to hire a professional that you can trust to do the work for you. This way, you can spend more of your time finding other properties in which to invest.
 
Take the above measures and enjoy limiting the financial risks that could impact your real estate investment. The above tips are going to help you save time and money. Speak to other long-time real estate investors and get their advice about all the ways you can make more financial gains in real estate. 

If you each work together, you might be able to benefit financially from everyone’s knowledge, contacts and expertise. Always keep learning, and real estate investing will be a successful field for you.

3 Main Reasons Why Boise, Idaho Should Be Your New Hometown

A lot of people in Idaho consider the city of Boise as among the best and greatest in the world. The Boise Idaho real estate market has been booming nowadays and whether you decide to put down your roots and settle down in the North, Northeast, South, Southeast, West or Southwest neighborhoods, you can be sure to find one that can be of great value to you and your family.

But really, the main question is: why would you want to settle in Boise, Idaho?

Lots of Things to Do in Boise

This metropolitan area is pretty much jam-packed with a number of diverse activities in the arts, sports, nature and wildlife and even nightlife. No matter which of the homes for sale in Boise, Idaho you decide to go for, you can always be sure to find great historical, cultural and other attractions to fill your day.

Discovering the Arts, Sports and Science in Boise, Idaho

For those wanting to see great vocals in Boise, the Opera Idaho is the best place to drop by. The Idaho Shakespeare Festival also features amazing plays with at least 5 plays happening all throughout the year.

Many sports fans deciding to take advantage of the Boise, Idaho real estate market will find it an extra bonus to watch the world recognized top football team, Boise State Broncos. Those who love hockey might also want to go to the Idaho Steelheads for a game or two.

Aside from a home to arts buffs and sports enthusiasts, Boise, Idaho is also a great place for education and learning. It is the Discovery Center of Idaho’s mission to inspire lifelong interest in science, technology, engineering and math. The city of Boise is therefore the best place for raising families, even those with small kids.

Boise is for the Love of Nature and the Wildlife

Among the many reasons why homes for sale in Boise, Idaho sell like hotcakes is its natural surroundings. The city is full of trees and stays beautiful regardless of the season. Even the Morrison Knudsen or MK Nature Center promotes its natural beauty by offering tours and programs that include watching and enjoying the wildlife, fish and birds to tourists and locals. The Idaho Botanical Garden and the World Center for Birds are also great places to visit.

Truly, there is not a lack of things to do in Boise, Idaho – make it your new hometown now!

This HUD (government owned) home picture above is for sale to all bidders at $142,000 and located at 6810 W Northview Street, Boise, Idaho 83704.  At the writing of this blog there are three HUD homes for sale in Boise Idaho.  Call me at 208-859-7060 or email me at idahohomeinfo@gmail.com to receive more information.  

 

Boise Idaho Real Estate | Advice for first time home buyers

by Randy Gridley


Important Advice For First-Time Home Buyers

Boise Idaho real estate is in good shape these days. Even better, there is no reason to believe that Boise real estate is not going to continue improving over the next several years. What this means for you is that the time is definitely right to at least consider the notion of homes for sale in Boise Idaho.

However, if you are a first-time buyer, it can be easy enough to feel overwhelmed by everything. This is one of the great commitments of your adult life.

Tips For First-Time Home Buyers

As a first-time buyer browsing the Boise Idaho real estate market for homes for sale in Boise Idaho, there are a number of things you can do that will make things easier. Obstacles and challenges are sometimes unavoidable with buying a home, but there are lots of things you can do to minimize the headaches:

 

  • Know exactly what you can afford: Things like monthly payments, property tax, insurance premium rates, insurance costs, and other elements will define how much this venture is going to cost you over the long term. Determine what you can honestly afford, keeping these things in mind, and then conduct your search accordingly.
  • Understand down payments: 20% of the purchase price as a down payment is considered to be the normal mode of transaction. However, if you are unable to make the 20%, there are a variety of loan options you can consider. Just keep in mind that the terms of these loans can wind up adding to your monthly costs.
  • Connect with a Boise Idaho real estate agent: It is important to find someone who not only works in the area in Boise, Meridian, or Eagle, but to also find someone who has a ton of experience with homes for sale in Boise Idaho. This agent should be able to show you houses, tell you about the schools and other features of the area, and even bring you up to speed on taxes and similar areas of interest.
  • Learn about the neighborhood: Make it a point to visit the neighborhood on your own.
  • Get your credit in order: Get a detailed, up-to-date credit report. Deal with any discrepancies before moving forward.
  • Step away from large credit purchases for a little while: If you’re serious about buying a house, avoid other loans, or anything that may add to your current credit debt.

Buying a home for the first time can indeed prove to be a thrilling experience.

How Clutter Can Prevent You From Closing A Good Home Sale Deal

by Randy Gridley

Most people expect to be able to sell their homes for a nice profit. However, this process is more tedious and complicated than they expect. Even if your home is located in an excellent neighborhood or it has highly desirable features and improvements, it can still be very hard to sell in some circumstances. Clutter is one of the enemies of a fast home sale. It can prevent you from selling your house quickly and for a good profit. This article is going to show you how to prevent your hose from looking messy.

If you have the habit of piling up lots of personal stuff all over the place, buyers are going to have a rather negative first impression when they visit your house. Potential buyers use to picture themselves living in their new home, so if you obstruct their imagination with piles of stuff, they aren't going to get a favorable picture. 

When you decide it's time to sell you home, the first thing you should do is get rid of the extra furniture. If you need to live in the house until you sell it, you are going to need your couches, beds, tables and chairs. However, you can eliminate those furniture items you don't need for your day to day living. This is going to make your rooms look larger, thus being more enticing for potential buyers.

If you own a lot of books, shoes or other relatively small items, you can consider storing them somewhere until you close the sale. Try to ask your friends for help with temporary storage of your personal belongings, so that you don't have to sell them or give them away. If they can't help you, you should consider renting a storage space and move your books and other stuff there in order to make your home appear less cluttered.

Kitchen clutter is one of the things that put most potential buyers off. It's already well-known that bathrooms and kitchens can be very strong selling points for a house, so you should make sure they look appealing. You may have lots of cooking utensils in your kitchen because you love cooking, but this is not going to help you sell your home faster. By eliminating all those tools and appliances, you can create better conditions for your prospects to imagine themselves cooking in your kitchen with their own utensils.

Removing the clutter doesn't mean you need to throw away your personal belongings. However, you need to be aware that they aren't helping your sale, so you should keep them out of sight as much as possible. Your best interest is to find a buyer as quickly as possible and to obtain a fair price for your property. If this means you need to suffer for a while by eliminating some of your commodities, you should do what it takes to shorten this period of time. Potential buyers want to see spacious rooms and neat interiors and not piles of stuff in each and every corner. If they don't get a positive first impression, they are most likely to turn down your sale offer or to give you a price below the real value of your property.

Boise Idaho Real Estate

by Randy Gridley

Boise Idaho Real Estate, Homes and Lifestyle

Boasting an exceptionally high caliber of life, Boise is a staple on numerous "best places" records. Why wouldn't it be? With a vast array of organizations, amusement, outdoor adventures, and general high quality of living, its easy to see what make Boise so beloved by its residents. Whether your interested in spending a beautiful morning fly fishing on the Boise river, or an evening of culture at our Shakespeare Festival, people with many diverse interests are delighted to call Boise home. Homes available to be purchased in Boise range in cost from less than $125,000 to over $3,000,000. While Boise has consistently given occupants a minimal cost of living and extremely affordable homes for generations, the previous 10 years have seen new development of some top of the line properties. The Idaho Home Run Team agents can give more detailed market information on houses available to be purchased and or Boise Idaho land.

Boise Attractions

Would you like to live in a place that has a wide variety of options for activities to do in your downtime, Boise is the place for you! Things to see and do, in or near Boise include: Lucky Peak Reservoir, Bogus Basin Ski Resort, Zoo Boise,, Ann Morrison Park, Twenty six miles Boise Green Belt, many foothill trails accessible from many locations throughout Boise, Kathryn Albertson Park, the Boise Philharmonic, Julia Davis Park, The Idaho Botanical Garden, The Idaho Historical Museum, The Boise Art Museum, Boise State University and the Morrison-Knudsen Nature Center.

The Bottom Line

Boise is growing! Though we are Idaho's largest metropolitan area, we are not the Idaho of 20 years ago. We have a diverse population of people choosing to call Boise home for the simple reason that there is no better place to live that  combines  the feel of "small town living" and "big city life" all in one complete package. We at the IdahoHomeRunTeam.com would love to help make you a part of our wonderful city. If you are someone that would like our help searching the MLS for the latest in real estate listings we are here for you! Whether you would like us to hold your hand, taking you step by step through the browsing process, or the type that just wants to be left alone to browse for your new home while wearing your comfy pajamas, we are the team to help you.

To sign up to do your own browsing go to http://idx.idahohomerunteam.com/idx/search/advanced​

 

 

 

 

 

 

 

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Randy & Doyelene Gridley
Silvercreek Realty Group
1099 S Wells St. Suite 200
Meridian ID 83642
Randy's Direct Office: 208-859-7060

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