The location makes a great difference when you want to build a home of your own. A great location makes a great home. Although every person has his/ her own idea of a perfect dream home, it all boils down to a beautiful surrounding with all the necessities available nearby. Some think it is amidst the towering skyscrapers and posh apartments with shopping malls nearby while others dream of a place away from the hustle and bustle of the city life.
Or do you think they would call the Real estate witness who would educate them on a by-weekly basis. If I was providing them with information and teaching them, and another Real Estate agent was sending them postcards about his company and asking for business, who do you think they would call? The same applies for any kind of business. If you can provide people with good quality information, they will come to you when they need your expertise. That’s when you get to educate them on your MLM or home business opportunity.
Another great way to make money out of your property is to rent it to someone else. The additional income you get can be invested in more projects. However, don’t forget to do the little patch works every now and then to refrain the tenants from moving somewhere else.
At some point down the road, oila! You have no more mortgage on house #1. Your renter has been paying your mortgage for all of those years. Now you are just collecting rental income and you are sitting pretty. Sweet! That is what passive income is all about. You also have the option of raising rents which is a great hedge on inflation.
This is a common problem in fast real estate markets, but can be a factor anytime. Definitely in slower markets, your home needs to stand out from its competitors. Make sure that the paint looks good, all the lights work, there are no tears in the carpets or defective items anywhere. Contrary to popular opinion, buyers are NOT looking to buy your home…..they ARE looking for reasons to eliminate it from their list of possibles. Consider this: Buyers have tons of choices. If they go out to look at 20 homes, naturally they need to eliminate all but one from that list. That is the mindset they are in, and you need to make sure your home stands out in a good way.
If you are still living in your home during the selling process, you should make a serious effort to be absent when your agent is bringing prospective buyers to the property for a tour. This allows your agent to work his or her professional magic without having to compete with an overzealous seller as he or she leads the tour.
Once all the items are taken care of, list immediately. If you have done your job, your potential buyers will walk in to a home that, try as they might, they can’t find anything wrong with. Maintain that look throughout the time the house is on the market by running the vacuum, dusting and putting everything away in its place after using. Now, you can spend that time that you would have been playing catch-up on more important matters. But, that’s another article.