Sellers Quickly Transform Property with Paint

The best way to update a property is to paint it. It’s a job that many sellers can do themselves.

Here are six suggestions for making the work go quickly.

1. Move the furniture. Get as much furniture as possible out of the way, and then cover what’s left with plastic drop cloths held in place with masking tape.
2. Buy good paint. Top-quality latex interior paint will hide what’s underneath and make the job go faster.
3. Tape the edges. Taping the edges with painters tape will speed up the job and make the results more professional.
4. Work top down. Paint the ceiling first, then the walls, then the windows and trim and finally the baseboards. This will cut down on time spent repairing drips and splatter marks.
5. Cut in the corners. Applying a three-inch band of paint around the edges will allow you to fill in the middle with a paint roller.
6. Apply paint generously. Trying to stretch the paint won’t save sellers any money if they have to repaint.

Source: Paint Quality Institute (09/21/2010)

Real Estate Investing!!

I just received my new read from Ron Draluck- Mortgage Planner with Sunshine Mortgage Corp.
“Push Button Investing In Real Estate The Safe, Systematic Way To Create Wealth In Residential Real Estate”

I’m excited about this book, while I receive much information from self proclaimed “R.E. GURUs” and those who claim their book holds the key to R.E. Wealth and freedom- Ron is one of the few  investors I  know with investment property not acting as a slum lord. 🙂

Foreclosure Clean-up Business

Finally- we have a response from an Atlanta based company! If you are looking to start up a Foreclosure Cleanup business- see below for advice from one company on how to get started:

“Contact realtors that specialize in foreclosures. Often they have a cache of homes.  Pricing is a different ball of wax. It’s relative to sooooo many things… Book almost finished on this biz; I get so many questions about start-up.  You can order it at http://www.foreclosurecleaningbusiness.comsoon.  I own Foreclosure Cleanup, LLC in Atlanta area. Good biz, good money, hard work.  Email me for more info if you’d like:  info@foreclosurecleaningbusiness.com.http://www.foreclosurecleaningbusiness.com

Cassandra
Foreclosure Cleanup, LLC
Book: 

Good luck!

How to Buy a Condominium

By eHow Personal Finance Editor

1 Step

Think about how long you’re going to stay in one place. Buying a condo is no different than buying a single-family home–you need to live there at least a couple of years to recoup closing costs, assuming the property will appreciate.

2 Step2

Give some thought to what you want. If you’re not interested in the pool or sauna, understand that the condo’s price and ongoing monthly association fees will reflect their use regardless of your interest in swimming or sweating.
3 Step3

Visit various condominium or townhouse communities and multiunit buildings so you know what’s available where you live. Get a sense of prevailing prices.

4 Step4

Request a market analysis from a real estate agent regarding the selling prices of condos in the building or area. Check the price appreciation on the market analysis to evaluate how quickly the condos are increasing in value; subtract the selling price from the purchase price and divide by the number of years the property has been held by the previous owner for a ballpark estimate of annual appreciation, if any (varies from state to state and place to place), in the neighborhood.

5 Step5

Get prequalified for a mortgage

6 Step6

Find out if the building has a good reputation. Ask current residents how often repairs and maintenance are required, and how good the soundproofing is between units.

7 Step7

Check out parking, storage, security and other amenities.

8 Step8

Ask to see the minutes from a recent meeting of the home owners association (HOA). Find out what the hot issues are and if members are fighting tooth and nail. You may want to keep looking– nobody wants to live where neighbors are at each other’s throats.

9 Step9

Ask how large the HOA’s reserve funds (used to pay for maintenance and emergency repairs on the building) are. The larger the reserve, the less a chance of an assessment or one-time payment to chip in for an unexpected expense. The smaller the reserve, the greater the chance you’ll be billed for an assessment in the near future. Some states require periodic updates of reserves to be published to HOA members.

10 Step10

Check the HOA’s history of assessments to see how many have been made in the past 10 years and how large they have been. This information will help you gauge how likely it is that you’ll be assessed in the near future, and indicate how well-managed the building is. Better managed buildings make fewer assessments.

11 Step11

Talk to other members and find out how restrictive your HOA is. For instance, some buildings even dictate what sort of holiday lighting you can put up. Request the same information as you would for buying a house. Read the CC&Rs (covenants, conditions and restrictions).

12 Step12

Budget in association dues, which are above and beyond your monthly mortgage payment. To assist in long-term financial planning, ask the condo association whether association fees have increased in recent years. Also estimate monthly maintenance costs that you’re responsible for in addition to the association fees.

13 Step13

Make an offer and close on the deal.