Flipping houses in real estate investment is growing to be a very lucrative business. There are many people who flip houses, but not all of them are as diligent as others. If you’re looking to make a living from flipping houses, as well as build a reputation for quality results, you should pay attention to these details.

1) Do what’s necessary. Don’t make a rash decision or put family members at risk. You want to ensure that your home is safe for the people who purchase it. This is not possible if you take shortcuts or use shoddy craftsmanship.

2) Avoid spending money you don’t have to. I’m referring to not spending money to create more work. This can be done by making additions, tearing out walls, and changing floor plans. These kinds of modifications should be left to buyers unless they can significantly increase the asking price. If you don’t, invest your money in baths and kitchens because they will bring in greater profits.
It’s not broken, don’t fix. This wise old proverb has a lot to offer. There’s no need to repair something you don’t need unless it increases the value of your house for its buyers.

4) You must stick to your budget. Although most people set a budget when flipping houses, few actually stick to it. This is the difference between making the profit you expected and putting your entire project at risk.

5) Don’t make a home the buyer would want to live at, but one that they will enjoy. Do not flip a house, or design a home that is too much of a compromise to your personal tastes. It can cause disaster in multiple ways. First, it’s unlikely buyers will be financially able to buy it. You risk hurt feelings if the potential buyer doesn’t like any of the details. The third reason is that it increases the price of the property to cover the higher decorating and design costs. This can lead to excessive expenses which will negate the purpose for a quick flip.

6) Money is time. This principle applies to all things. The longer you wait to flip the coin, the more money it will take and the less you will make. Make small changes that make a big difference and can be done quickly in order to maximize your flip.

7) You must have a champagne budget in order to attempt a champagne flip. As flipping property that is not in your target market’s price range is unwise, it is also unwise. Do not try to turn a house in an expensive neighborhood if you don’t have the skills to manage the necessary appliances and building supplies.

These tips are not guarantees for success but they will help to minimize the risks involved in flipping properties.

Secretary Fudge: “The COVID-19 pandemic has underscored just how important it is for every person to have access to safe and stable housing.”

WASHINGTON – Today, U.S. Department of Housing and Urban Development (HUD) Secretary Marcia L. Fudge, along with Connecticut Governor Ned Lamont and Washington, DC Mayor Muriel Bowser, held a Zoom call to discuss the nearly $5 billion in American Rescue Plan funds allocated by HUD to help communities across the country create affordable housing and services for people experiencing or at risk of experiencing homelessness.

The supplemental funding, known as HOME-ARP, was provided by the American Rescue Plan, which was enacted into law on March 11, 2021, and is allocated through the HOME Investment Partnerships Program to 651 grantees, including states, insular areas, and local governments. Click here for a full list.

“The COVID-19 pandemic has underscored just how important it is for every person to have access to safe and stable housing,” said HUD Secretary Marcia L. Fudge. “This $5 billion in homelessness assistance provided by the American Rescue Plan will deliver much-needed resources for communities to give homes to the people who have had to endure the pandemic without one. In the days ahead, we need to build on this relief with President Biden’s American Jobs Plan – a once-in-a-generation opportunity needed to bring our country closer to ending homelessness and housing instability.”

“I thank Secretary Fudge and the Biden-Harris Administration for this new funding to Connecticut,” said Connecticut Governor Ned Lamont. “The federal HOME Investment Partnership program is a vital tool we are using to move our homeless population off the streets and out of shelters and into permanent housing. We’ve made progress in Connecticut despite the pandemic. But we must do more as a state and a nation. Together with new state investments in affordable housing, this new funding to Connecticut from the US Department of Housing and Urban Development will support our ongoing work to end homelessness and to Build Back Better from this pandemic.”

“This investment signals that the Biden Administration is serious about helping Americans recover and heal from the extraordinary circumstances this pandemic has caused,” said DC Mayor Muriel Bowser. “Here in DC, we have been very focused on making homelessness rare, brief, and nonrecurring. With the local investments we’ve made, we are proud of our progress – we’ve been able to reduce overall homelessness by 11% and family homelessness by 85%. But we also know that the pandemic, and the economic crisis it caused, puts those gains at risk. And we know that to really tackle this issue and to overcome the housing crisis, we need serious federal investments. And that’s what this is, and we thank Secretary Fudge for leading the effort to get these funds out the door and into communities that need them.”

The $4.925 billion in HOME-ARP funding gives states the flexibility to best meet the needs of people experiencing or at risk of experiencing homelessness, including through development of affordable and supportive housing, tenant-based rental assistance, supportive services, and acquisition and development of non-congregate shelter units. Funds must be spent by 2030.

The nearly $5 billion in HOME-ARP funding is the first of two homelessness-related funding opportunities from the American Rescue Plan that HUD will release. In the coming weeks, HUD will announce the allocation of funding for emergency vouchers for people experiencing and at-risk of homelessness.

The American Jobs Plan, introduced on March 31, 2021, calls for a more than $200 billion investment to increase housing supply and address the affordable housing crisis.

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HUD’s mission is to create strong, sustainable, inclusive communities and quality affordable homes for all.
More information about HUD and its programs is available at www.hud.gov and https://espanol.hud.gov.

You can also connect with HUD on social media or sign up for news alerts on HUD’s Email List.

HUD COVID-19 Resources and Fact Sheets

Written by: michael83nc

Rent to own properties are among the best choices to consider when finding homes for sale in New Jersey. A rent to own contract can be a useful alternative to a home loan, plus it works well if you’re not committed to purchasing a home outright. But you must also be aware of the risks associated with finding such a home for sale. The pros and cons of entering such a deal are plentiful and deserve your attention. You should also note these points if you’re planning on selling a home as a rent to own entity.

How Does This Work?

A rent to own property works in that you can live in a home as a renter now and then close on that home later. You will pay an amount each month to rent the property, but you also have the first option to purchase that property. You can specify when you wish to complete the purchase process in your agreement.

You could also consider the rent to own process if you’re trying to sell your property. You can establish an agreement with someone who wishes to rent your home.

Why Buy a Rent To Own Property?

There are many benefits to rent to own properties to explore, especially if you’re planning to buy the property. The most prominent use is that you can enjoy a quality home now even if your financial situation isn’t as strong now as what it will be like a few years later. If you expect that you’ll be in a better financial position in a few years, you can benefit from what a rent to own home has to offer.

Not all rent to own agreements will be reported to the credit bureaus. You can still ask your landlord about potentially reporting your agreement to those bureaus if that person doesn’t already do so. The plan should work for both sides, as you’ll afford the purchase, and the landlord will be more likely to get one’s money at the end of the deal.

There are many other advantages associated with such a home:

• You can see if the area you’re considering living in is right for you. You’ll have time to see if the location is convenient and if the local environment is suitable for your needs.
• The rent to own effort is more flexible, as you can enter a home even if you have bad credit. You can start building your credit by completing regular payments on your property. Your credit score will eventually improve to where you can get a more favorable home loan when you’re ready to purchase the property altogether.
• The rent to own process lets you secure a purchase price for later. You can set the price you wish to pay a few years beforehand. You will protect yourself from cases where the home’s value increases.
• You may also back out of the option or renegotiate your deal if the home’s value falls. You can set an agreement with the seller at this point.
• You won’t have to worry about the risks associated with a nonconforming or jumbo loan. Jumbo loans may offer better credit deals for many buyers. But they aren’t backed by any federal programs. The credit requirements for these may be too strict, making a rent to own effort easier to follow.
• The savings you’ll get from not having to move after you agree to buy the home can be significant. Moving costs can be worth thousands of dollars on average. By purchasing the exact home you’re renting, you will simplify the process.

What About Selling Your Home As a Rent To Own Property?

You can also consider selling your home to others as a rent to own establishment if you wish. You can get many things out of your home if you sell it this way:

• It may be easier for you to find buyers, as you’re now targeting people who might not be committed to a full-scale purchase at the moment.
• You can earn more income on your home through monthly rent payments. The income can be ideal when you’re trying to cover a down payment on a future property you wish to purchase.
• You could request a higher price on your property, what with the rent to own option being easier to manage at times.
• You can be flexible over how you’re going to manage repairs and maintenance costs. You can have the renter pay for most of these, but you could also share or take on the responsibility yourself if you’re capable of this point. Your relationship with your client could be very positive.

Reasons Not To Rent To Own

While there are many benefits to rent to own properties, there are a few concerns to note surrounding the deal:

• You can never tell how long it will take for your credit rating to improve while renting a property.
• You won’t have complete control over your property if you rent it first. Your landlord could lose the property due to a foreclosure. That landlord may also stop paying property taxes if one is unable to manage them well.
• You could lose your right to purchase the property if you are late in trying to make a payment.
• The market might change to where the property’s value will drop. You might be open to getting an adjustment on your purchase agreement, but it might take extra time to adjust your plans as necessary.
• Sellers will also have some issues. They won’t get lump-sum payments on their homes when they rent them out, plus there’s no guarantee a renter is going to buy the property in a few years.

You could have a good reason to rent to own, but there are still some issues to watch. Be sure when buying or selling a home that you understand what you’re getting out of the work at hand. You’ll find that a rent to home effort will be easy to manage if you know what works here.

When it comes time to sell your home you find it is not as easy as once thought. One of the first issues to think about is your market and the way it’ll impact the sale of the property.

Selling Tips Determining Your Market

People sell their homes for a number of reasons. In some cases, the sale is involuntary thanks to issues that arise in life like a job­ related transfer, divorce, and financial problems. For a good majority of individuals, however, the choice to sell is formed under less trying circumstances. If you fall under this category, determining the character of the important great real estate market in your area may be a critical step to require.

When determining a marketplace for selling in a particular area, the central issue is what type of market is present? There are two types the seller’s market and the buyer’s market. Each market has particular characteristics and can impact what proportion of time and money are going to be involved in your selling effort. You need to find a realtor near you.

A seller’s market is one where there are more buyers than properties being listed. This doesn’t mean, however, that the national trend reflects things in your particular area. If your area remains hotdog, you’re within the catbirds seat. You can list your home with a high price for your area and still reasonably expect to entertain offers.

A buyers market is one where there are more listings than buyers. In such a situation, homes tend to take a seat on the market for substantial amounts of time. Many parts of the country, like Texas and Colorado generally, have historically been buyers markets. For some reason, these two states never really benefit from the huge seller’s market push the previous couple of years.

Two Thing You Need Determine in a Buyers Market

First, does one have sufficient equity in your home to sell it at a competitive price worthwhile selling? Second, wouldn’t it perhaps be better to attend a couple of years until the market falls in your favor? Buying a home in a buyer’s market can bring a lot of joy and huge discounts on deals that could be found. Unless there’s a compelling reason to sell, many householders will wait out buyers’ markets. If there’s a compelling reason, you would like to sell your home at near rock bottom of the marketplace for comparable homes in your area to urge a fast sale. If it’s any comfort, you ought to be ready to rotate and find an honest deal in your area as a buyer.

At times, the important real estate process is often a confusing one for buyers and sellers. If you’re taking the steps to work out your market before making a selected decision, you’ll be happier. Looking For agents in your area. Click here for more info

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With nice energy comes nice duty, or so we’re advised. Such is the case with autoresponders, the center of e-mail advertising and marketing. Little question they’ve revolutionized e-commerce and knowledge advertising and marketing. Nonetheless, as with so many nice improvements, autoresponders are inclined to abuse and misuse. Nothing represents irresponsible autoresponder use higher than unsolicited industrial mail (UCE), and unsolicited bulk mail (UBE).

…Also called spam.

It is turning into more and more troublesome to distinguish official Web entrepreneurs from spammers. The massive web service suppliers (ISPs) have subtle anti-spam know-how that ceaselessly traps correct messages; smaller companies additionally make use of spam filters. At this time, commonplace follow inside most e-mail programs is shifting questionable messages right into a ‘Spam’ folder or in some circumstances deleting them outright. No questions requested.

To make sure that autoresponder messages attain your subscribers’ Inbox safely, use the next three techniques:

1. Create a ‘White Listing’ Thank You Web page.

Do not assume that your list-building is secure after prospects enter their contact info into your opt-in web page. As soon as they click on your ‘Subscribe’ button, redirect them to an online web page that offers clear directions for confirming their request. In case you are utilizing a double opt-in process, inform them what to search for in your affirmation message’s From: and Topic: traces. Take into account placing in particular directions for getting onto Google (G-mail), Yahoo!, AOL, and MSN whitelists, since many subscribers use these providers.

Even when new subscribers verify their opt-in, remind them about whitelisting in your first (“Welcome”) message. It is also a good suggestion to have your individual accounts with massive web-based e-mail purchasers, to be able to take a look at and confirm that your white-listing plan truly works.

2. Put every of Your Messages by a Spam Checker.

Efficiently including new subscribers and being positioned on whitelists doesn’t offer you free reign to put in writing e-mails as you please. Keep away from your subscribers’ Spam field by pre-testing every message earlier than scheduling it in your autoresponder. A number of third occasion e-mail deliverability providers embrace computerized checking software program together with your membership. In any other case, contemplate downloading a number one spam checker; many are no-cost and web-based for handy use. With expertise, you’ll study to acknowledge phrases, phrases, and writing kinds that demand enhancing or within the excessive case, a whole rewrite.

3. Ship Subscribers an Acceptable Mixture of Content material and Presents.

Web entrepreneurs are often focused as spammers, so it behooves you to do all the pieces doable to take care of rating with subscribers in addition to their e-mail purchasers. In any case, what is the level of being white-listed and utilizing spam checking software program if you are going to blow it with 100% arduous promote e-mails? Keep true to your authentic intentions by demonstrating your experience to readers, constructing actual relationships, and making applicable affords that clear up issues. You’ll be doing the business, checklist members, and your self an excellent service.

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Source by Rahul Majumdar

So you’ve finally found the perfect house, but you’re not the only one!  When other potential buyers are bidding for the same home, you’ll want every advantage you can get.  Here are some tips to help you make sure the house you close on is the same one you’ve got your heart set on:

1. Understand the seller’s needs 

Are there any contingencies you can waive to make your offer more appealing?  Can you provide a rent-back agreement to a seller who will need to stay in the home for a short while after closing?  Find out as much as you can about the seller’s situation. Occasionally, a seller will have large furniture that is too unwieldy to move or pets that they cannot bring with them to their new home.  Maybe you can help find a suitable place for them to go?  The more you can do to make the process easier on the seller, the better your offer will be received.

2. Get pre-approved

Try to see things from the perspective of the seller, who often wants to close the deal as quickly as possible. That can give an edge to cash buyers, who don’t need to wait for financing approvals. You’ll be more likely to quickly close the deal, if you sort out the financials before making an offer. Putting you on a more even footing with the cash buyers. You’ll have to act quickly, which brings us to our next tip.  

3. Get all requested documents to your lender ASAP 

Approving a mortgage loan requires a LOT of documentation. The most common reason for a slow mortgage application process is incomplete or insufficient documents being provided to the lender. It is highly important to provide any requested documents to your lender as quickly as you can.

4. Pay cash 

If you decide to pay cash yourself, keep in mind that you’ll have to place a mortgage on the property within 90 days of purchase if you want to get a tax deduction. That means you’ll have to document the source of funds you used for the cash purchase.

And throughout it all, remember that we’re here to advise you and answer your questions.