Monday, August 31, 2015

New Luxury Cash Flow on the Market



This Home is located in a great area and will demand $1300 per month.  The property does need some minor updating.  We will need to paint and update the appliances. The home is a 3 bedroom 1 bath home.  It is on a 1/2 acre Lot! We will also need some new flooring.

Lets look at the numbers

Offer______________________$85,000

Rehab_____________________$5,000-$7,500

Tax,Insurance,and PM________$  409

Net Income_________________$  891 a month

This is a great home in a really good area.  The comps are in the $135,000 range.  We have a new Luxury Property management that I will be running and we will get this property leased.

Call Brett 216-703-5740 Coldwell Banker  

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Sunday, August 30, 2015

Can You Predict Your Financial Future?

Looking at the future is a little different for everyone.  The one thing that is consistent is people want to know their financial future.  What will tomorrow bring no one knows. Having the type of financial future that you can control is available.

No investment is perfect but you can really get real estate that gets you income if you follow a few rules. Before I tell you about that type of investment there are great real estate investments that you buy as is.  There is no way to see or predict the cost to the penny and there is always extra cost to a project. That is why those types of properties are less expensive because there are some unknowns that you cannot see.

When you are looking at that type of property get a home inspection after you finish your rehab not before because you will not get the property someone else will As Is is just what is says no inspections.  You may have some issues that were not in the rehab budget just fix them. This may be a little more money than you expected but it is part of your financial future and you need to have a income generating property that is in good repair. After you get a clean report get a warranty that covers all your major issues that might come up in the future.  You can at least predict some cost that will not happen with that type of warranty.

As most people know we have started a new investment real estate product that focuses on the top tier areas in the Cleveland metro area.  We will also be managing these properties with our own property management company so I can manage and know that the income is rolling in. This new property management company will have all the modern ways for tenants to pay for their lease payments. The new properties will be inspected and have home warranties on them.

The properties that our clients purchase will have long term tenants that usually stay 2-4 years.  That is another way you can predict your income in the near future.  These areas should also create the most equity for your portfolio in the future.  You have to take that into consideration when you creating income in the future.  Equity is a great way to create wealth even in this market.  The trend is moving toward rising prices on real estate.

Can you predict your financial future? Getting the right real estate, ensuring that you have a fixed cost with warranties, and longer term tenants can help you do just that Predict your financial future.  Brett Young Coldwell Banker Call me @ 216-703-5740 or Email me




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Friday, August 28, 2015

Condos for Sale 100% Free Report



I wanted to get you a link on Condo that are for sale in the Cleveland Metro Area. Remember Condos make great 2nd homes and Great Rentals in the right areas. Click below and enjoy.


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Cleveland-area house prices up 2.8 percent



Here is a story from http://www.cleveland.com/ by Michelle Jarboe McFee, The Plain Dealer 

Prices in Cleveland continue to go up.  The prices are slower than the rest of the market but it is a steady growth.  As the market goes you want a very steady growth that be sustainable in the future.  As always the key is supply and demand. Which this story points out,

"The missing piece in the housing picture," he added, "has been housing starts and sales. These have changed for the better in the last few months."

Here is a story from my Company http://blog.coldwellbanker.com/  

In another story I found.
 

What You Need to Know about July Housing Numbers

This story really tells the whole picture on the housing market this year. I have personally seen the upswing in the market and it is getting harder to get the great deals. That is a good thing though because anytime you have that type of demand on the buy and sell of real estate that creates a market you can make money with.

" The housing market built up more strength in July, according to the National Association of Realtors (NAR). Its monthly report on existing home sales pegged the year-over-year gain at 10.3%. Homes sold at an annual rate of 5.59 million during the month, up 2% compared with June."

The Realtor's as a whole expect the volume of home sales to increase over the next year. I also think the stock market ups and downs will bring a lot of investors and retail buyers back to the real estate market for more stability.  Here is another snippet from this story.

""The missing piece in the housing picture," he added, "has been housing starts and sales. These have changed for the better in the last few months."

Though this has been a slower recovery than most real estate professionals would want it is still a great market to be in. Whether your an investor or buyer there are still great deals to be had.

Lastly the Median home prices went up for the 41st month in a row.  That is because of the inventory shortage and they need to build new homes for buyers in this market. I think that will continue in the near future especially if the stock market continues to falter. 

" The median home price in July was $234,000, slightly below June’s figure but up 5.6% compared with a year earlier. It marked the 41st consecutive month of year-over-year price increases.

Having the right real estate in your portfolio is all we do.  Call Brett 216-703-5740 Coldwell Banker to go over your real estate options.



 


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Thursday, August 27, 2015

Why you need to Use Realtor's in Real Estate



There are a lot of Investment Clubs and so called experts that tell you to get the secret list that they have to buy real estate for your portfolio.  Some go as far as to say not to use Realtor which is crazy.

Realtor's have to go through a lot of school in order to be licensed in most states. For example in Ohio you have to do 25 classes at 4 1/2 hours per class.  You then have to take a state and federal test and pass it.  I passed it the first time but when you don't you have to keep taking it and it cost money.

You then have to take a 10 hr class after you pass the exam to get your education finalized for your license. That's not the end though every 3 years you have to do renewal classes and pass exams to keep your license.  These classes keep us up to date on the new laws and rules in real estate.

You also have to join a Realtor Board and MLS which cost more money.  That gives us the power to network and make sure that the most amount of potential buyers see your property.  We also have to take a class 3 hours before we can use the MLS.

When you join a Brokerage you also have to go to classes there.  I had 5 Saturdays I spend with my broker at Coldwell Banker.  He wanted contracts to be done a certain way and also showed us what he would except for our listing on the MLS.

Lastly I just finished up my Arizona renewal classes.  That took 24 hrs of time also and I had to pass the test that they gave at the end of each chapter.  Then a Final exam after that. I will be offering some homes there in the near future.

I tell you this because it really takes a lot of time and money to be a Realtor.  As a Realtor you need to know what your doing and understand all the areas that are available to buy in.  I personally study all the areas and have many purchases in almost all the areas I recommend.

I have devoted my career to getting my clients the best deals and will start managing every aspect of your properties needs. I will do the same for you and your portfolio.

Call Brett 216-703-5740 Coldwell Banker I understand both Investment Real Estate and Real Estate you want to live in.

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Monday, August 24, 2015

Buying Luxury Cash Flow Properties



When your searching for the right Luxury Income property for your portfolio you need to have the following Scenarios.

1. Buy in an area that you really like yourself on that you would live in.

2. Check the available properties that are for rent. You want that number to be 0 or very low.  This will tell you that the area is highly desired in most cases.

3. Look at the types of amenities that the area has to offer.  For example do they high end eateries and great shopping? I really like to see Starbucks or some other type of high end coffee place there.  The reason is a lot of business gets done in those stores.

4. The quality of the properties and the cost of them. You don't want to go million dollar or anything but you need to look at your returns and the turnover in tenants. If you have a very low amount of homes for rent then you know that the tenant pool is very good in these types of areas.

5. Have a property manager that only focus's on those types of homes. Knowing that your property is being taken care of and your getting your income checks every month is very important.

6. Being in an area that can get your property equity now and into the future.

Having all these points and also being affordable to do.  I have 8 different Higher end areas that I am buying in for these properties. I have carefully check all the numbers and set up the parameters that we need to buy in. I will be running the property management and will keep everything in house. We have all the tools to get your Luxury Cash Flow Properties.

Lastly the prices that I like and see in the market is around $60,000-$200,000 the monthly net is $600-$1100 per month(After Taxes,Insurance, and property Management).  The equity position will be case by case.

Call Brett 216-703-5740 Coldwell Banker


  

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Sunday, August 23, 2015

Home Sales "Best Ever" July in Northern Ohio



Here is a story from http://www.cleveland.com/ by By Michelle Jarboe McFee, The Plain Dealer

The home sales in the Northern Ohio area were up from last year over 20% and is shows that the market here is really heating up in both the home and condo sales.  Here is a snippit from that story.

" July home sales topped last year's levels by a big margin, climbing 20.4 percent in Northeast Ohio and jumping 16.3 percent statewide"

The Realtor board is also saying that it is the best ever sales totals.  This speaks volumes to the equity side of it. With the sales totals best ever shows that the prices are going up and the demand is there to move to Cleveland. Inventory and Price drives a sellers market.

" The Ohio Association of Realtors said home-buying hit its "best-ever sales totals" for the month -- marking the strongest July, at least, since the trade group started reporting monthly figures in 1998."

The county we purchase in sales prices were up 4.4% from July of last year.

"  Listing-service data show that price gains weren't as consistent as sales growth across 15 Northeast Ohio counties. Cuyahoga County's average sale price is up 4.4 percent from a year ago, for example, but prices dipped in Summit, Geauga and a handful of counties to the south."

Cuyahoga County has the Cleveland Metro area in it.  That is were you need to be buying and were we are near the downtown.  The downtown is driving force to all the other surrounding areas. I talk to people who work in San Fransisco and  live an hour away because of the housing cost there. That is what will be happening in the downtown Cleveland Market.

What was really interesting to me was the up tick in Condo sales in this area. It grew 19.8% that is a very healthy up tick. A lot of that I believe is there are a lot of lakes including Lake Erie. Condos close to those areas do very well.  The other Condo that is being purchased is downtown Cleveland which has less then 1% Vacancy Rate I saw a 2 Bed 2 Bath condo selling for $399,900. Lastly people are starting to want to be in the best areas in the Cleveland Metro area and the most affordable way is Condos. 

Condos are a great rental tool for investors.  They have great returns and low maintenance in the right areas. I am personally buying in those areas and seeing very good returns.

"Ohio real estate groups lump new and previously owned homes together. Data from the Northern Ohio Regional Multiple Listing Service show that house sales were up 20.5 percent in July, when compared with a year before. Condo sales, a sliver of the market, experienced a 19.8 percent annual gain across a 15-county area."

Getting into the Cleveland Real Estate Market now is a great idea.  The best is yet to come Brett Young Coldwell Banker 

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Friday, August 21, 2015

Getting your Property Maintenance Needs

We have a complete one stop shop for your construction needs. I have rearranged my company to service and save you money on your maintenance needs. We just finished a property for a client that saved them 20% on there original projection.

If you need a Roof,Driveway,Electrical or Plumbing we have it all.  We give you our clients a discount to help you make more money.  In the end you need to have someone else to call if your getting high quotes or you can call us first. We also have a referral program that gets you money when you refer us!

We just finished a driveway that really added to the home and helped get it SOLD! Check out the picture and Call me 216-703-5740



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Existing-Home Sales Grow to Highest Pace Since 2007



This story comes from NY Times By Reuters  

The pace of existing home sales is getting to be as good as February 2007. 

" The National Association of Realtors said existing-home sales increased 2 percent to an annual rate of 5.59 million units last month, the highest pace since February 2007."


Think how long we have been in this market correction.  It really started in 2006 that was 9 years ago. That is a long time and during that time excluding maybe this year new home building has pretty much been very light. That is why you see a record high new home starts last month and I think that will continue.

 "They also may encourage builders to ramp up construction, further bolstering the economy. Housing starts rose to near an eight-year high in July."

"A strengthening labor market is aiding demand for housing. But supply remains tight, pushing up home prices and sidelining first-time buyers, who are a crucial part of a strong housing market. The share of first-time buyers fell to a six-month low of 28 percent last month."

That is why the supply is so tight and there is a pressure on the pricing.  That is why rents will continue to be strong until after the presidential election.  You will have a mixed market and if you can get a home to flip that is a huge bonus.

In this region of the country you have very affordable Luxury rentals that really make unbelievable income and steady income.  These are in highly desirable areas that demand excellent tenants. The rents range from $1100-$2000 a month.

This story also points out a sharp drop in housing permits.  That is because of the tight inventory and harder to find deals.  The good news is there are still some out there. 

" “Despite a sharp drop in housing permits, the U.S. L.E.I. is still pointing to moderate economic growth through the remainder of the year,” said Ataman Ozyildirim, director of business cycles and growth research at the board."

Having Real Estate in today's market is a little harder to get.  That is why I'm looking in areas that have very low vacancy rates and demand high rents. I am also doing flips in the newer subdivisions that make money and get a solid return for my clients. Brett Young Coldwell Banker Call me 216-703-5740

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Wednesday, August 19, 2015

Cash Flow Real Estate in a different way



Having the words cash flow real estate can be a great title, but there are many different types of cash flow property available in today's market. I want to talk about what we offer in our cash flow product.  As most people know we were in the market for properties that rented for $850-$1100 per month.

These properties would cost up to $75,000 purchase and rehab and net between $600-$700 in most cases. Most of the tenants would stay for 12-14 months.  They were good deals that made money and required a lot attention and marketing to keep them occupied. We did all that for our clients.

After buying all those I could buy I decided to go into a better market that tenants stayed longer and were there were no a lot of leased properties available. I wanted Higher rents and longer term tenants.

I have since then got rid of all my overhead and 2 Realtors that purchased those types of properties and moved in a brand new arena.  Getting my real estate license in Ohio now I can look for the best product in today's market. Searching over a 6 month period and trying to find a product that would have less turnaround on tenants and a higher net income per month.

The properties that I found to fit that mold have a great tenant base and net between $750 to $1000 per month.  These areas have tenants that are executives are in transition and need a home that has all the amenities in a community that they like.

With the new found business's coming in the Cleveland market these types of properties are in high demand and that means they will lease quickly. The maintenance will be less and the tenants will take care of your property.

The last part I do want to mention is there will be equity in these properties in most cases. That means you can also Lease Option if you want to. I will personally be opening a property management service just for these properties only and do all the work to help ensure you get a steady income.

Call Brett today @ 216-703-5740 Coldwell Banker and get your income portfolio making income.

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We just sold two homes in 4 days meaning this is a sellers market! Selling in today's market is easier with the right marketing ...