April 4, 2010
Real Estate Investing | Investing In Fire Pits To Add Value To A Home
Investing in a home is much more advisable when the home has a well-developed fire pit area. It adds to the home’s appearance and recreational value. Seating, outdoor décor, flowers, and many more things, surround the fire pit area and give homeowners something to truly brag about when selling a home. Prospective homeowners will find a fire pit area a cozy added plus to any home. Depending on how well the area is developed and decorated, it could be the deciding factor in whether or not to purchase a home.
To make a fire pit area more pleasing to the eye, consider a few things that an owner might find pleasant:
- Vibrant or meaningful colors: The choice of flowers might be especially important. What flowers surround this area of the yard can determine if it’s one that invites life or more somber meaning. As long as it’s living, and it adds color to the scenery, it’s good, but the matter should be researched by a professional who can create the type of atmosphere you’re looking for.
- Outdoor furniture. The seating around the pit is very important. Will people sit in lawn chairs only, around marble tables, under canopies, or on the ground? What kind of impression is this going to make on future homeowners?
- Other décor. Is a bird feeder going to lurk nearby? How about another ornament that might spice things up for a gathering of friends? There are thousands of lawn decorations that can enhance an evening around this area. Do plenty of research to cover all the options.
If there are no plans to sell the home now or in the future, think of the advantages this type of scene can add to your permanent backyard. If children are in the picture, what kind of fun can the whole family have roasting marshmallows in the evenings? Summer nights will increase in fun, no doubt. If the pit is all yours and it won’t belong to anyone else in the future, forget value added. Just add everything that will make you and your family the happiest possible, even if it’s tacky and might not add to the value of a home at all. It will add to the value of your family and increase the chances for fun. That’s all you need to worry about if this fabulous addition to your home will be with you always.
Geoffrey F. Moore
Firepit
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3 Comments on Real Estate Investing | Investing In Fire Pits To Add Value To A Home »
April 2, 2011
satarnag @ 3:57 am:
When a property gets foreclosed on, and it's the first lien holder that is doing the foreclosing, then the second and third and fourth (etc.) will get wiped out at the foreclosure auction. What an investor will do is to buy/tie up the property from the defaulting owner and see if he can discount the first and second. The second will most likely agree to a small amount (usually 7-10 percent) because they will lose everything once the property gets foreclosed on. The first will usually accept a 20 percent hit.
Now what you quoted is that the second note holder was stating that he will own the property by buying it from the person in default and take over the first position's loan payments and make it current. Therefore, he is not interested in selling his note to the investors. The investors in that example were idiots for not controling the property first or the owner didn't want to sell. The investors were hoping to buy the second note at a discount and bid at the auction and own the property with at least 15 k equity plus whatever the homeowner had in equity.
You can buy any note by approaching the lending institution that holds the note and making an offer to buy it. You will need cash to do so.
Also, to clear up the quoted reference, you can purchase property "subject to" existing liens/loans. Taking property "subject to" means that you will take over the payments, but the old owner is still responsible for the loan(s). So if you stop paying the mortgage/trust deed, the lending institution will go after the old owner and start foreclosing on the property. Buying property "subject to" existing loans is one way where someone with no money and/or credit can get into a home and own it. The second note holder was buying the property from the defaulting owner using the "subject to" clause.
I either confused you or helped you. Either way, I just saved you hundreds of dollars in late night real estate infomercials!
E-mail me if you have any questions.
Regards
October 13, 2011
Cr1s @ 11:16 am:
Yes, talk to your accountant regarding sale of primary / secondary residence.
The sale on duplex, you may have to bite, unless you convert it into another secondary residence (after the sale of the house at your former state).
There's great savings potential in planning these sales, talk to your accountant, as there are details here that you may need to know. Can't answer your question with limited detail.
Goodluck,
November 16, 2011
Simpson G @ 2:08 am:
Las Vegas real estate isn't going to be increasing in value anytime in the next 5-10 years. If you have the cash burning a hole in your pocket and you know that finding good tenants to rent to is going to be easy, and you don't need to see an increase in property values for a long time, then Las Vegas is great.
Real Estate can be a great investment, if you do it right. If you are going to be mortgaged up to your eyeballs without a property manager and don't know how to run the numbers correctly, it can be a complete nightmare.
Too many people forget to add in things like closing costs, mortgage interest, upkeep, utlities, HOA fees, property taxes, etc, and when they see a $10,000 return without counting all that, they get hooked. Then suddenly they don't understand why they aren't making their mortgage payments and dread that next property tax bill.