Purchasing, Renovating, Marketing, and Selling

News Source: http://firstmortgagerates.ca/

 A full time rehab investor needs to manage the four phases of every deal. Becoming a rehab millionaire means having at least 16 deals in work every month and maybe more. Four deals turning a $20,000 profit each month will bring in $960,000 each year. If you’re only turning two houses each year, you’re going to need to keep your day job. If you want to be a serious, full time, professional real estate investor, you shouldn’t be swinging a hammer or even licking envelopes, you need to be managing a team that is doing the work for you. The Million Dollar Pipeline There are four major categories to your million dollar real estate pipeline . You should have four properties in each category at any given time. During each month, you should be purchasing four houses, which immediately go into the rehab phase. On an average of once a week, you should have one property finishing rehab and going onto the market. At the same time, you should be collecting a paycheck approximately once a week as your investments are sold to both pay you and invest in the next project. The novice investor focuses all of his or her energy on one stage at a time. That’s an “onsie-twosie” investor. In other words, he or she may only do one or two deals in a given year. If that fits your goals then great! Go for it! But if you want to be a million dollar real estate investor, you’ll systematize the process to keep the pipeline full. You’ll have several projects going at the same time. Have a Plan Having four deals in each phase will be a full time job managing your own business. You’ll need a system to keep it organized. You’re going to need a plan. Decide on your target market. Decide on your target buyer. Decide your price level to flip it. Organize your tools. Get your spreadsheets together. Decide how much time you are going to dedicate to this business. Line up your funds. Raise the capital to do your deals. Start making offers! It all starts by putting the first deal together and then growing your business one deal at a time. Get started by finding some seed money and putting your effort into finding the right house to renovate. These are houses that sit on the market for months because the retail buyer wants a house that is already in “perfect” condition. Your job is taking the less than perfect house and turning it into the perfect house that retail buyers will pay you top dollar for. Of course, you will have competition. There will be others fixing and flipping houses. The houses you want, won’t actually sit on the market for months. The aggressive real estate investor has a constant eye on everything coming onto the market. Making fast, low-ball offers for less than desirable houses is one of the secrets to success. Patience is another part of being successful. Your low-ball offers probably won’t be accepted right away. But when retail buyers don’t show any interest, your offer will become more attractive to sellers that either won’t fix the house or can’t afford to. A couple of months later they come back showing interest in your low-ball offer. In summary, today is a great time to be in the fix and flip business. Just remember that it’s a means to an end. The income potential is very real. But in the end, it’s not only about the money. Once you have a system in place, the money will consistently roll in. You’ll have plenty of time to do, be, and have everything you want in life!

Students Face Challenges Over Home Buying

News Source: http://www.applymortgageonline.ca/

Buying your first home is never a cheap process and most of us will initially struggle, but it is much more difficult for students who can graduate with substantial amounts of debt. This means they often need to earn substantially more money in order to buy a home. An estimate by RealtyTrac found students typically need annual salaries of approximately one third more compared to those first time buyers without student debt. This equates to around $8,700. ReatlyTrac arrived at this figure by taking the median home price for each county and state, and calculating the minimum amount needed to qualify for a loan on this home. This assumed the buyer had a 20% deposit and was based on a 30 year 4.13% loan.

The article in the Wall Street Journal does point out that this figure is dependent on where the student is living, and the average amount of student debt can vary from state to state. Interestingly, some of the areas with the most expensive housing also have the lowest rates of student debt. A good example is California, where house prices are amongst the highest in the country, yet it has one of the lowest levels of student loan debt. Those states where graduates with student loans need to make more income to qualify for loans, compared to those without debt include Pennsylvania at 49%, Ohio at 53% and Michigan at 55% and Rhode Island at 56% and Connecticut at 58%. In comparison, students in California only need to earn 12% more than graduates without student loan debt. This figure is 17% for New York and Virginia, rising to 19% for those in Wyoming, and to 20% for graduates in Utah. The good news is that graduates with student loans, and who are earning the median household income for the US are able to afford the monthly payments on median priced homes in 96% of the markets analyzed by RealtyTrac. Apparently a graduate with a bachelor’s degree can expect a starting salary averaging $45,000, but is likely to have an average of $33,000 debt, a figure that has tripled in the last two decades. However other figures show that graduates who have managed to find well-paid jobs are pretty lucky, as around 40% of those unemployed are millennials, and many are either college age or recent graduates. In addition, recent graduates with student loans seem to find it harder to build wealth.

Tips For Using Interior Design To Beautify Your Surroundings

Article Source: http://www.applymortgageonline.ca/

Interior design isn't just for professionals; it can be for everyday people like you too! Designing the home of your dreams doesn't have to require an expansive wallet or a hoard of professionals. Start your journey of interior design with the simple tips below and you are sure to see your way to success!

If you have children, you should take them into consideration before planning your interior-design project. For example, you will probably want to stay away from furniture pieces that have extremely sharp corners, as your children can easily harm themselves on them. It would be a waste if you were to purchase's pieces that end up breaking or causing harm to your children.

Consider adding some artwork to your room. A nice piece of art can really make a room look "finished." Make sure you choose a piece of art work that goes with the colors and feel of the room. You don't want it to compete with other things in te room for attention.

A great interior design tip is to always be aware of space when you're designing. If you go crazy with a room it might end up getting cluttered. No matter how nice looking and well decorated a room is, if there isn't enough space to move around no one will even bother to go in it.

Choose colors of the same hue. When you do this, even if the colors seem like they would not "match," they are in the same color family. That makes them blend in a way that is pleasing to the eye. When you get color swatches from a store, check out the colors in the same position on each card. Those are the ones with similar hue values.

Interior design has something to offer everyone, including you. Don't feel overwhelmed by the ideas you have just read, take notes instead. Take the time and think your inspired designs through. The tips in the article above can just be the starting point in the wonderful world of interior design!