On behalf of the DiGonzini Investment Group, we would like to thank everyone who’s served and who is currently serving. For those of you in active duty – stay safe and come home soon.
Perfecting The Fix and Flip: Top 4 Mistakes To Avoid Losing Money
Perfecting The Fix and Flip:
Top 4 Mistakes To Avoid Losing Money
Phoenix house flipper Marty Boardman is a professional fix and flipper. He finds, buys, remodels, and sells and average of 30 houses per year. Along the way, he has made plenty of costly mistakes. Here is his list of top four mistakes he’s made as a fix and flipper that you should avoid when considering attempting this lucrative real estate venture:
1. Overestimating the value of a property
This is very easy to do, especially if you’re desperate for a deal. I find this happens to me because I go into the project thinking that I’m going to make house look as good, or better, than any other recent comp. Thus, the market will pay more. Of course, there can also be undisclosed environmental factors that adversely value. Like a 300 lb. barking dog living next door to my property.
2. Over remodeling the property
This happens a lot to new investors I meet. They think the property has to look as good, or better, than their own. I’m sorry but granite counter tops and plantation shutters aren’t necessary for an $80,000 track home on the outskirts of town. Formica and 2” fake wood blinds will do. Too many bells and whistles will kill your margins.
3. Under remodeling the property
Of the 4, I make this mistake the least. I tend to over remodel. However, on occasion I’ve cut a few corners. Whenever I elect to clean carpet, rather than replace with new, it seems like the house sits on the market longer, and sells for less. I mean who doesn’t love the smell of brand new carpet?
4. Underestimating the holding time
Determining how much demand there will be for a property is one of the most difficult things to do as a fix and flipper. It’s impossible to know who will want your house, and when. I flipped a not-so-special house in a not-so-special neighborhood in 27 days. It turns out the buyers had a son and daughter-in-law that lived three doors down. Conversely, I flipped a house in two weeks, bought the same model 5 doors down to flip, and it sat on the market 5 months.
If you’re interested in fixing and flipping a home, having a real estate agent to find you the right property in the right market is key to future profitable success. Don’t miss your opportunity to buy your first home, trade for a bigger home or simply downsize. Call for a free consultation at (949) 682-9930 or email us at louis@dighomes.com . If you don’t live Orange County, we are connected with great agents in different cities and countries. There’s a good chance we have connections with agents near you. So contact us and our team will help you with your real estate needs or we will introduce you the right agent for you.
Luxury Homes Of Orange County
Time To Enjoy The Good Life
Orange County is full of luxurious homes. There is an artistic breath-taking beauty in their architecture and scenic location. If you’re in the market for luxury real estate, the DiGonzini Group has the resources to get you what you desire.
Don’t miss your opportunity to live in one of the best places to live in the world.
Don’t miss your opportunity to buy your first home, trade for a bigger home or simply downsize.
Call for a free consultation at (949) 682-9930. If you don’t live Orange County, we are connected with great agents in different cities and countries. There’s a good chance we have connections with agents near you. So contact us and our team will help you with your real estate needs or we will introduce you the right agent for you.
Recessions come and go…but where are we now in the real estate cycle?
Real Estate Stages Repeat Again and Again
But where are we now?
The real estate market is either going up, coasting, or going down. It’s a cycle that will always repeat.
We are coming out of the recession into a period of growth, hope, and relief.
During this time, there are common factors that prove true every cycle:
- Increased rents and cash flows
- The length of time to sell a property reduces
- Property prices begin to increase
- Much confusion in the media reigns about whether recent property value growth is sustainable
- Many potential property purchasers delay buying because they evidenced value falls or a slow market in the preceding slump.
- The cycle continues
After this time of recovery, the cycle will move to the opposite of a recession at a point of euphoria:
- Rents rise to levels which place significant financial pressure on tenants
- The time it takes for a property to sell after being listed for sale reduces markedly
- Property prices rise
- Yields fall as prices rise proportionally more than rents rise
- There are few mortgagee/forced sales
- Property finance is easy to obtain and there are a number of new lending products making borrowing easier
- People borrow against their increased house values and spend this money on consumer items (TVs, boats, holidays, cars, etc.)
- There are many property seminars competing for investor dollars
- Property is a hot topic in the media. Initially there is much speculation about how price growth will continue, but later in the Boom the media turns its attention to the reduced affordability of property
- There is a lot of discussion about how this Boom will never end i.e. “it is different this time” and expectations that there will be no subsequent Slump phase
Don’t miss your opportunity to buy your first home, trade for a bigger home or simply downsize. Call for a free consultation at (949) 682-9930 or contact us . If you don’t live Orange County, we are connected with great agents in different cities and countries. There’s a good chance we have connections with agents near you. So contact us and our team will help you with your real estate needs or we will introduce you the right agent for you.
The Season To Sell! 5 Advantages To Selling Your Home In Summer
5 Reasons Why Summertime Is The Right Time To Sell
1. You can show off your property and landscaping.
When trying to lure in a buyer, the appearance of the house is crucial. When trees are without leaves and a huge pile of snow accumulates around the house, even the most beautiful property loses its appeal. If you are selling in the summer, include a short tour of the property when the buyer comes to visit. Attractive landscaping, an inviting patio, mature trees, and a crystal-clear swimming pool are all valuable assets that give you an advantage.
2. You’ll have more time to dedicate to the sale. During any time of year, homeowners spend an average of 30 hours on the process of selling a home (for pricing, visits, and sales contracts). By choosing the summer or the holiday period to list your house, you will have more time to attract buyers, talk with them, draw up the tender offer, and complete the transaction. Additionally, some professionals such as inspectors, appraisers and notaries are available during the summer months to assist you.
3. You can take advantage of the available time for do-it-yourself projects. Many sellers do very little to fix up their homes before putting it on the market, whereas we recommend that you do so in order to improve your property’s curb appeal. And summertime is, of course, a much more convenient time to do this type of work. By choosing the summer to sell your home, you have the opportunity to seriously prepare for potential buyers.
4. You can benefit from better visibility in the neighborhood. “For Sale” signs are much more visible and easier to install in the summer than they are in the winter. In some tourist areas, traffic is also more abundant, allowing you to get additional visibility.
5. You will be in a good position to sell in fall. If you do not sell your home in the summer, at least you have the opportunity to “test” the reaction of buyers and then make adjustments in the market in anticipation of the autumn selling period. It’s simple: Once buyers see the property you can cater the product or the price to meet their expectations. If there’s something that is unattractive to potential buyers, you have time to fix it before the autumn.
If you want an aggressive and through real estate team, please call us at (949) 682-9930 If you don’t live Orange County, we are connected with great agents in different cities and countries. There’s a good chance we have connections with agents near you. So contact us and our team will help you with your real estate needs or we will introduce you the right agent for you.
MARKET UPDATE: Now is the time to buy!
Tax Breaks, Low Interest Rates, and Optimum Market Stage
Now is the best time to buy a home!
Coming out of a near depression caused by the 2008 real estate bubble, we are in a period of hope and optimism. Construction is up and interest rates are still down from the recession. In addition to this, there are a number of beneficial tax benefits with owning a home. Some are listed here from a page of the Turbo Tax website.
If you want an aggressive and through real estate team, please call us at (949) 682-9930 . If you don’t live Orange County, we are connected with great agents in different cities and countries. There’s a good chance we have connections with agents near you. So contact us and our team will help you with your real estate needs or we will introduce you the right agent for you.
- 1
- 2
- 3
- 4
- Next Page »
