Buying real estate can start with a look in the newspaper, a visit to a broker, or a search online. These are all good ways to find your next investment property. You're looking at the same properties as every other investor, of course, so it's not always easy to beat the competition to a great buy.
A better way to find good real estate investments is to look for properties that aren't yet for sale, and make an offer. I bought my first home this way. I put an ad in the paper stating what I was looking for, and soon had a call from an old couple that had been thinking about selling. I bought their place at a good price, and they saved a broker's commission.
Buying investment real estate that isn't for sale starts with a three step search process. First decide what you are looking for. Single family rentals or apartment buildings? Then start looking for properties that fit your criteria. Then contact the owners.
Buying Real Estate From Non-Sellers
Don't limit yourself to "fixer-uppers" or other "problem" properties that seem more likely to have owners willing to sell. Many owners of investment real estate have thought of selling, so you can start with almost any building you like. You never know beforehand if or why a landlord is ready to call it quits. You find out by asking.
Tact is necessary here. Call the owner and tell him you're an investor, not a broker. Let him know that you like what you see. Tell him you can have an offer ready in a week if he's interested. NEVER EVER MENTION THE PRICE VERBALLY AND IF YOU WANT TO RAISE YOUR CHANCES OF GETTING THE PROPERTY, "DO NOT" GO ANY FURTHER IN THE CONVERSATION AT THIS POINT....The seller will do all he can to find out what you had in mind, and tell him first, you wanted to find out if the seller was even interested in selling....and every time there is a question about price or about what your offer will look like, say, "ya know what, since you sound interested, I'll take a day or two, have an offer in writing for you, and let's go from there...."
At this point, this is where you call a BUYERS AGENT (If you are in WA State, call Beryl Gosney at 425-344-2222, a leading buyers agent on Internet and serves Western Washington).....
DO NOT, UNDER ANY CIRCUMSTANCES start negotitating with the seller yourself...I don't care how many homes you've owned, or if you are a seasoned sales person or not, selling homes is unique. Home selling experience specifically, truely makes a difference in the outcome of your deal ---- especially when the buyers agent representing you, is paid by the seller! You see, it most all cases, the buyers agent commision has already been pre-determined in the sellers listing contract, that a commission would be going to the seller agents broker, from the sellers proceeds.
If the seller is not interested, thank him politely when you made the initial call and hang up, an d share the contact info with your buyers agent and ask them to send the homeowner a card or a letter on your behalf. Many investors have bought from owners that changed their minds.
Naturally if you are buying a rental unit, we'll need to see the books. Specifically, you'll need to see the rent roll, listing the units and what they rent for, plus current occupancy, and operating expenses for the last year.
The buyers agent needs to have a confidentiality agreement ready for you to sign and attach with your offer. Your agent should let the owner know that you'll sign it and the agent will deliver it to him before you see the books. He may not want to let the tenants know he's thinking of selling, so inspecting the units may have to wait until you make an offer. Just make an acceptable inspection a contingency in the offer.
Why buy investment properties this way? No competition means you may get a better price. Also, instead of waiting for that perfect property to be listed for sale, you just find it now. Why wait until it's for sale before buying real estate?
Monday, June 11, 2007
Tuesday, June 5, 2007
How to Create Your Dream Home
(ARA) - Among the clipped lawns and traditional style homes of Green Bay, a cozy log home nestled in the woods is a rarity indeed. Equally rare are the steps the owners have taken to protect their original retreat.
On a hot summer morning, David and Kathy Janczak opened their Green Bay home to visitors who share their passion for log home living. “This is the first time we’ve hosted an open house since renovating our log home,” said Kathy, in the lodge-like great room where the family of five shared meals, celebrated holidays and created hand-made Christmas ornaments.
Nearly 30 years ago, the young couple dreamt of a log home of their own. David, an avid woodworker who had been studying log home construction for some time, promised his new bride Kathy that he would build her a dream home as a wedding gift.
On a 20-acre parcel of land, David diligently set out to fulfill his promise, with Kathy working beside him every step of the way. Completed in 1976, the full log home was an intimate 1,547 square feet. The great room, which was the heart of the home, remains intact today.
Local excitement over their home and many requests prompted David to craft similar log homes for other enthusiasts. This, in turn, created Wisconsin Log Homes Inc., which David continues to oversee today. Both the home and company has grown significantly over the years, a testament to America’s love affair with rustic homes and the simple, comfortable feeling they generate.
While the 60-plus people toured and explored their recently remodeled home, David and Kathy eagerly shared their experiences with both full log and half log construction. As the visitors marveled over the fine craftsmanship and attention to detail, David educated them on the basics of log homes and energy efficiency, including explaining why he developed the Thermal-Log insulated half-log building system 30 years ago.
David says the spacious, yet unpretentious 5,600-square-foot hybrid home “Is a result of 30 years of ideas and experience in log home design and construction.” Designed for entertaining as well as day-to-day living, the home showcases many progressive design elements, all while exuding traditional log home comfort and warmth.
The Janczak home was designed to be one with nature, both indoors and out. Strategically placed doors, windows and bump-outs maximize the surrounding view which includes a pond, wooded area and front water garden. A screen porch and wrap-around architecturally lit stamped concrete patio is the perfect place to relax during sunset at the end of a long day.
Indoors, the couple’s love for natural materials is evident, incorporated into almost every design element. From the chocolate glazed ceramic tile on the floor to the handcrafted antler chandeliers, the space is saturated with various textures. David’s trademark wormy wavy edge trim and custom gnarly railings give the log home a personal artistic touch not readily seen in the industry today.
The custom kitchen designed by Kathy and the company’s in-house interior designer shows how a modern working kitchen can flow effortlessly into an open floor plan typical of log home design. Character cherry cabinets topped with custom crown molding, state-of-the-art appliances cleverly tucked behind cabinet panels and a hand-scraped engineered hickory floor warmed with radiant floor heat are some of the few places where technology meets style in the Janczak home. The raised cabinet at the end of the island has a painted furniture look to it, complete with authentic antler pulls.
As the visitors split up and meandered from room to room, they began to share their ideas and own design inspirations with one another. Some were focused on the architectural elements while others eagerly discussed envisioned floor plans. “The trip to Green Bay was well worth it,” one attendee noted. “This home gives us lots of ideas. The finished product shows much more than any catalog pictures.”
Several visitors were fascinated with the Janczak’s master bath which does not utilize a door. A strategically placed corner whirlpool tub with a mini-chandelier hanging above provides a spa-like view from the master bedroom. A partial wall separates the commode without closing in the space and a glass and tile walk-in shower is both functional and aesthetically pleasing. “This space was actually inspired by the Janczak’s favorite Mexican retreat,” Wisconsin Log Homes resident interior designer Stephanie Gauthier explained. “Beautiful design usually originates from things that we love. These are the elements that make your house a home and uniquely yours.”
The groups were well rounded; some empty nesters, families, newlyweds and even a couple excited about planning a log-inspired bed and breakfast. “I love color and my husband loves structure,” one wife commented in a boldly painted bedroom combined with a knotty pine ceiling and log accented walls. “I am so pleased to see that we can have both.”
The Janczak’s open house was a huge success and an inspiration to many. “We are planning another in the future for those who were unable to attend due to a limited number of reservations available,” Kathy noted. “In the past we held design/build seminars at our headquarters’, but seeing a completed home helps people better visualize what they can actually have.”
For more information about designing and building log homes or to order Wisconsin Log Homes’ comprehensive 156-page planning guide and DVD, log on to www.wisconsinloghomes.com, or call (800) 678-9107.
Courtesy of ARA Content
On a hot summer morning, David and Kathy Janczak opened their Green Bay home to visitors who share their passion for log home living. “This is the first time we’ve hosted an open house since renovating our log home,” said Kathy, in the lodge-like great room where the family of five shared meals, celebrated holidays and created hand-made Christmas ornaments.
Nearly 30 years ago, the young couple dreamt of a log home of their own. David, an avid woodworker who had been studying log home construction for some time, promised his new bride Kathy that he would build her a dream home as a wedding gift.
On a 20-acre parcel of land, David diligently set out to fulfill his promise, with Kathy working beside him every step of the way. Completed in 1976, the full log home was an intimate 1,547 square feet. The great room, which was the heart of the home, remains intact today.
Local excitement over their home and many requests prompted David to craft similar log homes for other enthusiasts. This, in turn, created Wisconsin Log Homes Inc., which David continues to oversee today. Both the home and company has grown significantly over the years, a testament to America’s love affair with rustic homes and the simple, comfortable feeling they generate.
While the 60-plus people toured and explored their recently remodeled home, David and Kathy eagerly shared their experiences with both full log and half log construction. As the visitors marveled over the fine craftsmanship and attention to detail, David educated them on the basics of log homes and energy efficiency, including explaining why he developed the Thermal-Log insulated half-log building system 30 years ago.
David says the spacious, yet unpretentious 5,600-square-foot hybrid home “Is a result of 30 years of ideas and experience in log home design and construction.” Designed for entertaining as well as day-to-day living, the home showcases many progressive design elements, all while exuding traditional log home comfort and warmth.
The Janczak home was designed to be one with nature, both indoors and out. Strategically placed doors, windows and bump-outs maximize the surrounding view which includes a pond, wooded area and front water garden. A screen porch and wrap-around architecturally lit stamped concrete patio is the perfect place to relax during sunset at the end of a long day.
Indoors, the couple’s love for natural materials is evident, incorporated into almost every design element. From the chocolate glazed ceramic tile on the floor to the handcrafted antler chandeliers, the space is saturated with various textures. David’s trademark wormy wavy edge trim and custom gnarly railings give the log home a personal artistic touch not readily seen in the industry today.
The custom kitchen designed by Kathy and the company’s in-house interior designer shows how a modern working kitchen can flow effortlessly into an open floor plan typical of log home design. Character cherry cabinets topped with custom crown molding, state-of-the-art appliances cleverly tucked behind cabinet panels and a hand-scraped engineered hickory floor warmed with radiant floor heat are some of the few places where technology meets style in the Janczak home. The raised cabinet at the end of the island has a painted furniture look to it, complete with authentic antler pulls.
As the visitors split up and meandered from room to room, they began to share their ideas and own design inspirations with one another. Some were focused on the architectural elements while others eagerly discussed envisioned floor plans. “The trip to Green Bay was well worth it,” one attendee noted. “This home gives us lots of ideas. The finished product shows much more than any catalog pictures.”
Several visitors were fascinated with the Janczak’s master bath which does not utilize a door. A strategically placed corner whirlpool tub with a mini-chandelier hanging above provides a spa-like view from the master bedroom. A partial wall separates the commode without closing in the space and a glass and tile walk-in shower is both functional and aesthetically pleasing. “This space was actually inspired by the Janczak’s favorite Mexican retreat,” Wisconsin Log Homes resident interior designer Stephanie Gauthier explained. “Beautiful design usually originates from things that we love. These are the elements that make your house a home and uniquely yours.”
The groups were well rounded; some empty nesters, families, newlyweds and even a couple excited about planning a log-inspired bed and breakfast. “I love color and my husband loves structure,” one wife commented in a boldly painted bedroom combined with a knotty pine ceiling and log accented walls. “I am so pleased to see that we can have both.”
The Janczak’s open house was a huge success and an inspiration to many. “We are planning another in the future for those who were unable to attend due to a limited number of reservations available,” Kathy noted. “In the past we held design/build seminars at our headquarters’, but seeing a completed home helps people better visualize what they can actually have.”
For more information about designing and building log homes or to order Wisconsin Log Homes’ comprehensive 156-page planning guide and DVD, log on to www.wisconsinloghomes.com, or call (800) 678-9107.
Courtesy of ARA Content
Facelift for the Middle-Aged Door
How to Recognize and Reverse Signs of Aging at the Front Entry
(ARA) – These days, baby boomers aren’t the only ones worried about showing their age. When it comes to the middle-aged home, the front door is often the first to go.
That’s because exterior doors -- one of the larger openings on the home -- often take the brunt of UV exposure, wind and rain over a period of decades. A Harvard University study shows the average age of a home in the United States is 32 years old and rising, so doors definitely develop their share of “age spots.”
“It’s important to understand the causes and effects of wear and tear on exterior doors because they provide security and energy efficiency benefits, not to mention curb appeal, for the home,” says Shane Meisel, product marketing manager for JELD-WEN doors. “Proper maintenance -- just a little attention over time -- can help extend the life of exterior doors for many years.”
To maintain their youthful appearance, it’s important to regularly inspect exterior doors and repair problem spots, such as fading and the ill effects of water penetration. So with both performance and curb appeal in mind, here is a guide to recognizing and reversing signs of aging on exterior doors.
Anti-Aging Regimen for Exterior Doors
Proper finishing. The first defense against premature aging of doors is proper finishing. It’s important to follow the manufacturer’s directions and be sure to finish all six sides of the door. Even though you may not see the top and bottom, they can be conduits for doors to absorb moisture from the environment, causing swelling and cracking over time.
Correct exposure ratio. The placement of an exterior door plays a major role in its maintenance and longevity. It’s important to determine the amount of overhang that protects the door from sun and rain and understand the UV exposure generated by the direction the door faces. In mild climates, the overhang should equal at least one-half of the door’s height. More severe climates require larger overhangs. The industry term for the correct exposure ratio is “coefficient.”
High-performance materials. New advances in manufacturing technology have taken the worry out of wood doors. JELD-WEN now offers AuraLast wood for U.S.-produced pine wood doors and frames. Thanks to a revolutionary penetrating treatment process, AuraLast wood is guaranteed to resist termites and decay for 20 years, and AuraLast wood frames carry a lifetime warranty.
Periodic inspection and maintenance. Just like any other exterior surface, doors need cleaning and care each year. Homeowners should expect to refinish wood doors every two to five years. For solid wood doors, lightly sand, then wipe away dust with a clean cloth, slightly dampened with mineral spirits. For doors made of other materials, follow the manufacturer’s refinishing recommendations. Apply at least two coats of a fade-resistant exterior polyurethane with an ultraviolet inhibitor, following the manufacturer’s recommendations. Sand lightly between coats and be sure to finish all six sides of the door in the same manner.
Top Tips for Sprucing up the Front Entry
Once the entry door is properly finished and protected, homeowners may want to consider these inexpensive cosmetic upgrades.
1. Consider a new paint color. A touch of color for the front door gives the whole front of the home a lift. JELD-WEN’s new front door selector tool, offered at www.jeld-wen.com, allows homeowners to experiment with different looks online.
2. Install new hardware. This is one of the quickest and easiest ways to spruce up the front entry on your own. Be sure to consider how the color and finish of the hardware coordinates or contrasts with the color and texture of the front door, and select a low-maintenance finish. Examples of new hardware to consider are brass kick plates, door handles, door knockers, locks and even mail slots.
3. Incorporate house numbers and lighting at the entryway. House numbers are a huge trend in “exterior design.” With more stylish options available than ever before, this little weekend project makes a big impact at the front entry. Likewise, a matching exterior light adds a warm and welcoming ambience.
For more door care and maintenance tips from JELD-WEN or to browse new styles for replacement doors, visit www.jeld-wen.com.
Courtesy of ARA Content
(ARA) – These days, baby boomers aren’t the only ones worried about showing their age. When it comes to the middle-aged home, the front door is often the first to go.
That’s because exterior doors -- one of the larger openings on the home -- often take the brunt of UV exposure, wind and rain over a period of decades. A Harvard University study shows the average age of a home in the United States is 32 years old and rising, so doors definitely develop their share of “age spots.”
“It’s important to understand the causes and effects of wear and tear on exterior doors because they provide security and energy efficiency benefits, not to mention curb appeal, for the home,” says Shane Meisel, product marketing manager for JELD-WEN doors. “Proper maintenance -- just a little attention over time -- can help extend the life of exterior doors for many years.”
To maintain their youthful appearance, it’s important to regularly inspect exterior doors and repair problem spots, such as fading and the ill effects of water penetration. So with both performance and curb appeal in mind, here is a guide to recognizing and reversing signs of aging on exterior doors.
Anti-Aging Regimen for Exterior Doors
Proper finishing. The first defense against premature aging of doors is proper finishing. It’s important to follow the manufacturer’s directions and be sure to finish all six sides of the door. Even though you may not see the top and bottom, they can be conduits for doors to absorb moisture from the environment, causing swelling and cracking over time.
Correct exposure ratio. The placement of an exterior door plays a major role in its maintenance and longevity. It’s important to determine the amount of overhang that protects the door from sun and rain and understand the UV exposure generated by the direction the door faces. In mild climates, the overhang should equal at least one-half of the door’s height. More severe climates require larger overhangs. The industry term for the correct exposure ratio is “coefficient.”
High-performance materials. New advances in manufacturing technology have taken the worry out of wood doors. JELD-WEN now offers AuraLast wood for U.S.-produced pine wood doors and frames. Thanks to a revolutionary penetrating treatment process, AuraLast wood is guaranteed to resist termites and decay for 20 years, and AuraLast wood frames carry a lifetime warranty.
Periodic inspection and maintenance. Just like any other exterior surface, doors need cleaning and care each year. Homeowners should expect to refinish wood doors every two to five years. For solid wood doors, lightly sand, then wipe away dust with a clean cloth, slightly dampened with mineral spirits. For doors made of other materials, follow the manufacturer’s refinishing recommendations. Apply at least two coats of a fade-resistant exterior polyurethane with an ultraviolet inhibitor, following the manufacturer’s recommendations. Sand lightly between coats and be sure to finish all six sides of the door in the same manner.
Top Tips for Sprucing up the Front Entry
Once the entry door is properly finished and protected, homeowners may want to consider these inexpensive cosmetic upgrades.
1. Consider a new paint color. A touch of color for the front door gives the whole front of the home a lift. JELD-WEN’s new front door selector tool, offered at www.jeld-wen.com, allows homeowners to experiment with different looks online.
2. Install new hardware. This is one of the quickest and easiest ways to spruce up the front entry on your own. Be sure to consider how the color and finish of the hardware coordinates or contrasts with the color and texture of the front door, and select a low-maintenance finish. Examples of new hardware to consider are brass kick plates, door handles, door knockers, locks and even mail slots.
3. Incorporate house numbers and lighting at the entryway. House numbers are a huge trend in “exterior design.” With more stylish options available than ever before, this little weekend project makes a big impact at the front entry. Likewise, a matching exterior light adds a warm and welcoming ambience.
For more door care and maintenance tips from JELD-WEN or to browse new styles for replacement doors, visit www.jeld-wen.com.
Courtesy of ARA Content
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