Charlotte Property Management Weekly: When Will Rental Rates Rise?
Which leads to the question we really care about: When can we raise the rents to my properties? In short, soon. Why is that?
Learn MoreCharlotte Property Management Weekly: Solving the High-End Home Sales Stagnation with Rentals and Rent-To-Own
Many are realizing that they need a solution to get them past the next few years. They are starting to explore rental and rent-to-own options. They’ve heard the horror stories that people tell about renters, but they can also do basic math.
What do I mean by that?
Learn MoreCharlotte Property Management Weekly: The Top 3 Reasons Why Good Property Managers Matter More Now (Reason #3)
3. The skills needed for selling a home have (and will continue) to trend to more of a solution-based, “cash now, sell later” approach; outright sales are becoming scarcer as there are less qualified buyers available in the market
Learn MoreCharlotte Property Management Weekly: The Top 3 Reasons Why Good Property Managers Matter More Now (Reason #1)
1. If this economy has taught us anything, it is cash is always king and real estate is an investment. The ONLY decision criteria for hiring a prospective property manager should be their ability to maximize the cash flow of your investments. Period.
Learn MoreCharlotte Property Management Weekly: Top 6 Miscellaneous Tips for Rent-To-Own Deals
5. What about the much publicized “higher rental rates” you hear about that rent-to-own arrangements command? I don’t see evidence of this. Does this ever happen? Sure. Does it happen often in competitive markets? No. As an example, try to list your rental home for $200 above market rate as a “rent-to-own” and see what your response rate is. There are plenty of rent-to-own opportunities at market rate rent (or below).
Learn MoreCharlotte Property Management Weekly: Signs of the Times: Layaway and Rent-To-Own Are Back!
If you owe the bank $100, that’s your problem. If you owe the bank $100 million, that’s the bank’s problem.
(J. Paul Getty)
This can easily be reworded to fit today’s real estate market:
“If you can’t get financing to buy a house, that’s your problem. If millions of people can’t get financed, that’s the home seller’s (and their real estate agent’s!) problem.” (Brett Furniss)
Learn MoreCharlotte Property Management Weekly: Rent-To-Own- A Great Lead Generator for Traditional Brokerage!
During the webinar, the host asked the presenters what percentage of their company’s revenues came from lease options. The other presenter quickly answered, “100%.” I thought about it and said “15-20%”; afterwards, I felt like a fraud. Why was I asked to participate as a “lease option expert” when 80-85% of my company’s revenues derived from elsewhere?
Learn MoreCharlotte Property Management Weekly: Drive + Drink = Lease + Option?
“Lease options might be the worst idea ever. Who would ever be a party to one? I tried one once and it was a complete disaster! I mean, I’m not a lawyer- there’s just so much that can go wrong; I don’t have firsthand knowledge of this mind you, but I’ve heard lots and lots of stories.” (Traditional Realtor)
“Combine two innocuous substances and “Walla!” A homemade bomb.” (Al Qaeda training manual quoting a MacGyver episode)
Learn MoreCharlotte Property Management Weekly: Getting Paid- A Growing Problem for Everyone! (Except Realtors & Clients Doing Lease Options)
The biggest symptom of our current economic problems is that people don’t have the money to pay their bills. Think about it. Why is the FHA in trouble? It’s because the home owners they lent to couldn’t pay. Why did the banks need to get bailed out? It’s because the clients they lent to couldn’t pay. Why are many businesses going under? It’s because their customers are businesses that are going under (because they didn’t get paid).
Learn MoreCharlotte Property Management Weekly: Thankful for an Awful Year: Next Top 2 Business Takeaways from 2009 (Part 2)
“The MacArthur Foundation gave out its annual genius awards. This year’s awards went to a journalist, a mental health scientist, and a couple who sold their house three years ago.” (Conan O’Brien from The Tonight Show with Conan O’Brien)
“Have yourself a merry little Christmas. Let your heart be light.” (Ralph Blane)
In last “Charlotte Property Management Weekly’s” episode, I discussed the first two takeaways from businesses looking to survive this tough economic environment. This article will focus on the other top two business adjustments I’ve seen businesses take in 2009. Without further ado, they are:
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