“Building Your Real Estate Investment Team”
Lifestyles Unlimited® strongly advocates building a team of experts, a concept that is expanded upon in this article from Rentables. They list seven essential members of your team and provide criteria for their selection- including that they be successful themselves and “care about your goals.” This article is one in an ongoing series of how to build a real estate investing team.
“How to Raise Your Rents Without Losing Your Tenants”
John Hanson of the Creative Investor writes on the necessity of periodically raising rents. He urges landlords not to fear their tenants and to raise rents 5% annually as opposed to waiting until it is necessary to raise them $200 or more. Hanson even includes a sample letter as a guide to tactfully approaching this subject with tenants.
“Homebuyer Tax Credit Deadline Freezes out Short Sales”
Short sales have become significantly more popular this year (“doubling on a national level in 2009”), says the Real Estate Economy Watch. Although requesting a short sale can be a lengthy and complicated process, delinquent borrowers view it as an attractive alternative to foreclosure. This increase in demand for short sales has been augmented by buyers hoping to take advantage of the homebuyer tax credit before it’s April 30th deadline.
“Housing Bottom May be Further Away than Initially Thought”
As both unemployment and foreclosures continue to rise, Nuwire Investor expects “a prolonged recovery for the…housing market.” Previously predicted to bottom out in 2010, the article points to stricter lending requirements as a leading cause of delayed recovery. The continued severity of the “financial crisis” has lead many to believe that the end is nowhere in site.
“Spec Houses Rise as Builders Bet on Buyers Before Tax Credit Ends”
With the deadline of the homebuyer tax credit rapidly approaching, the Wall Street Journal reports that builders are engaging in “speculative construction,” in order to take advantage of this temporary increase in buyers. This may further delay the housing recovery if the homes fail to attract buyers within this narrow time window. The possible surplus of available homes sharply contrasts last November’s shortage due to a sudden shift in demand.
“7 Ways to Protect Your Credit Score for Better Mortgage Rates”
Jack Sternberg of the Bryan Ellis Blog stresses the importance of a good credit score for not only mortgage approval, but also for better rates. Referencing NBC’s “7 Ways that Homebuyers Ruin Their Credit,” Sternberg cites “closing open credit cards” as the worst offense. Watch the video at NBC for the full list.
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