Tips To Get Your Search For Homes For Sale In The Right Track

Buying a house is a major financial decision that will not only give you a peace of mind, but also a wonderful place to live, and of course, the perfect location to start a family for those who are planning to settle down. Sooner or later, you will have to decide to settle down on your own home that will be considered as the best location to start a family.

That being said, it is important to greatly consider the factors that will affect your everyday living experience. The following tips will help to get your search of to the right start. While it is important to note the number of rooms, the size of the yard and the layout of the kitchen, there are several important things you need to consider before making an offer.

Avoid trying to time the market

– Trying to time the market when you are planning to purchase is impossible. Considering whether the market drops low or gets too high will only prolong and possibly make you lose your chance of owning your perfect house of choice. The best time is when you find the best one that you can afford. The real estate market is cyclical, and waiting for the perfect time will only make you miss out on an opportunity.


– Proximity to essential establishments and the surrounding people can give great impact in your living environment. You can overlook a couple of imperfections in a home if you love the neighborhood and neighbors. As most would say, three of the most important factors in buying a home is location, location, location. When choosing, you need to consider its proximity to your work and other essential establishments, environment or the neighborhood, and public transportation.


– Of course, you will need to check everything out inside the house. When you have finally narrowed down your list of choices, it’s time to hire a home inspector. It may cost a little but in the long run, it will end up saving you thousands. This will help you gain the best information regarding the new home so that you can make the best decision as to whether or not take it.

Situation factors

– One important thing to note: when buying a home, you can easily replace furniture, and other things inside however, you can never change the location. This is why it is important to also check the situational factors. Is the location suitable for kids, pets and gardening? Do the neighbor’s window look directly to your home? Has the driveway elevation properly installed for safe access to the property?

Four Strategies to Buy Rentals With No Down Payment

This tends to be a pretty controversial subject, and for good reason. When I was getting started in the business, I was young and broke and had no credit to speak of. I was not qualified to borrow money, yet I figured out how to buy properties, and I bought a lot of them. It was not long before I became a full time real estate investor, and on paper, I was a millionaire long before my 30th birthday. I accomplished this with a lot of hard work, education and tolerance to take the risk.

With all this said, just because you don’t need money to buy houses, does not mean you should have no money. I am a big, big believer in this. You see, although I was a millionaire at a young age, I basically lost it all when the market shifted. I was too aggressive with my growth, and did not establish an appropriate amount of reserves. After starting over, I structured things differently and am in a good position to not only survive a down turn, but to thrive in it. In this article, I will briefly walk through 4 ways to buy rentals with nothing out of pocket, but want you to understand that this does not mean you should own rentals with no reserves.

Owner Finance: This could mean many things, but for the purposes of this article I am going to assume that the seller of the home is extremely motivated and is willing to basically sell the house just to get away from the mortgage payments. This is commonly referred to as a subject-to transaction because you, as the buyer, will take title subject-to any other liens that are in place. What this means is you get ownership of the house, but the seller is still on the hook for the loan. You as the buyer will agree to either pay off the loan or make payments on the loan on their behalf. If you don’t, the lender can foreclose and wipe you off of title.

The seller is taking a tremendous amount of risk with this type of transaction, so it is difficult to negotiate and they need to be extremely motivated. It works well for you because you don’t need down payments or to qualify for a loan. It works for them because they have someone else making the payments on their loan, which relieves them of the payment pressure, and potentially can improve their credit. As you become more experienced, this is a strategy you will want to look into. This allows you to purchase an unlimited number of cash flowing properties without ever needing to qualify or sign for a loan.

Lease Options: This is the strategy that really worked for me when I was just getting started. I like it a lot because it is easy to explain to the seller and it is not difficult to get them comfortable with it. They still need to be motivated to want to do this, but nothing like the subject-to transactions.

The way this works is you negotiate with a seller of a home to lease the property for a set period of time. I would typically negotiate 10 years on these, but it can be anything you are comfortable with. The rent amount will be set. From there you agree on a price to buy the property for sometime during the lease term. The price is typically locked in close to today’s value. You then sublease the property, hopefully for more than your rent payment, and wait for the value to increase. If the value does not increase, which has happened to me, you can either re-negotiate the deal or let the property go. You have no obligation to buy, so you are not taking the risk of market fluctuation. If and when the value does increase you have several options: You can sell your option, exercise your option and resell the house for your profit, or just exercise the option and keep the property in your portfolio.

Bridge Loans: The idea here is to find a property that needs a lot of work that will make a good rental. You need to negotiate a price were you can buy it, fix it, and roll in all closing costs, and still be at or below 70% of the after repaired value (ARV). This does not work well unless the property needs to be repaired. This is very different than the first two strategies discussed, and is commonly used with bank owned foreclosures. Although, anytime you can negotiate a great deal will work.

After you purchase the home, you want to get it repaired and get a tenant in place as quickly as possible. You then refinance the loan into your permanent rental property loan. There are some additional details for this to work that are beyond the scope of this article.

Partners: At the time the market was collapsing around me, there were tremendous buying opportunities everywhere. Using the Bridge loan strategy, I was able to pick up a handful of deals that I still have today. I did not qualify for loans, so I brought in a partner to sign on the debt for me, and I shared the deal with him 50/50. Neither one of us put money down, and the properties all cash flow, net of vacancies and maintenance, a minimum of $300 a month. There has also been a tremendous amount of appreciation over the years. The houses have more than doubled in value!

No matter what your strategy in real estate, partners can help you reach your potential. They can provide anything that you are lacking to get deals closed. I have a great deal of respect for partnerships because I think they are necessary, but I also think they can be the worst decision ever made.

Is It Cheaper to Buy Or Build a House?

After years of working hard, you become financially stable, and decided to buy your own space which you can call your home. But then your mind is split whether you’re gonna buy a readily constructed unit or you’re going to have it built.

Readily constructed houses

Most new home buyers like the convenience offered by pre-constructed or existing homes. After the lender’s pre-approval, you’re ready to browse through many options. You can then prepare your shortlist and trim it until you’re left with the best option according to your preferences. After which, you can make your offer.

If you’re somehow confused with the options you see, real estate agents can help with an easier flow to pick the best existing home for you. They can assist you with negotiations. They can also help you with the associated paperwork.

In general, offers made for existing homes are closed in two months. Then, you can conveniently move in and start a new chapter of your life.

In many cases, costs of existing homes prove to be lower than having to build one from scratch. However, this may not be true at all times. Costs are still dependent on several factors such as location.

Another advantage of buying an existing home is the opportunity to belong to an established community. With this comes associated advantages of being near schools, lifestyle centers, and government centers. There is also a high chance that an existing home has already a preset for a grown landscape for gardens or lawns. You’ll not have to worry of the task of growing plants and ornaments.

However, there are some drawbacks with existing houses. Because they are readily made, you have to settle with its features and how the house parts are constructed. You may want to have a master’s bedroom having separate comfort room and bathroom. You may want a large kitchen, but what’s available is one with a smaller size than your preference.

Building your own house

Because of the complexities of getting functionalities matched, there are also new home buyers who prefer to build their own homes. You can carry out your own designs and have the house parts constructed according to your exact needs. However, the task alone of finding the land where to construct it is already daunting. But of course, if you have the patience and enough will power, you can find one which suits your choice of area. This means you can opt for a land which offers an overlooking view or perhaps one in a beachfront.

A new home can also prove to be more efficient in energy usage. This is because, the construction has to comply with new energy efficiency codes.

New homes may also prove to be healthier than existing homes. It can be constructed with materials that are safe for your family’s health. It can be made free of molds, asbestos, and lead paint.

The biggest drawback to new construction homes is associated with their costs. They are generally higher in price than existing homes. You have to spend for the construction materials, labor, furnishing, and other extra costs. You also have to wait longer before you can move in. But, you can have a deeper sense of satisfaction after it is constructed.

Whether it is an existing home or a new construction home you want to become your home, real estate agents in your area can always extend assistance.

Why Rent When You CAN Own?

I have Good News for you. You can OWN a home and have a mortgage for less than you are paying for rent with as little as ZERO down.

Benefits of Home Ownership:

  • No more rent increases: When you purchase a home with a Fixed Mortgage your monthly payment never goes up.
  • Tax write off- You will get a larger tax refund because you get to deduct the interest you pay on your mortgage and real estate taxes you pay.
  • You get to live in the neighborhood you want and stay there as long as you want. This means your child doesn’t have to change schools,
  • You can decorate and paint the home the way you want,
  • You even have a yard and your own driveway and or garage.
  • You move when you want to
  • When you do decide you want to move you can sell and most likely make a profit or receive some of the money you have been paying out back. When you rent and you move you get NONE of that rent money back.

Owning a Home is Possible

If you are a first time buyer you may not know the first thing about the home. If you have the right lender and the right real estate agent they can help guide you through the process so you don’t have to go through it alone. It’s important to work with someone who is going to HELP you because it is a multi step process.

Not sure if your credit is good enough.

If you have a low CREDIT Score that is OK too. Some lenders work with buyers to help them clean up their credit report so that you have a score that qualifies. They can often do this in a matter of weeks. Lenders can get you approved for a mortgage with a credit score as low as 580.

USDA and VA loans are loans that offer Zero money down. There are also Down Payment Assistance programs available as well.

There are a lot of ways to get you qualified. A qualified lender can guide you in the right direction. If you are a First Time Buyer. Some lenders have first time buyer loans as well that can save you money and help you be qualified. One lender that comes to mind who is now offering a 1% down home loan is Quicken Loans. Another lender who has been helpful in working with people is Movement Mortgage- they helped a buyer of mine clear up some things on their credit report.

There are a lot of lenders and real estate agents- choose one that is going to work with you to meet your needs and get what you want.