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  • The Cincinnati & Dayton Real Estate Game Has Changed – Here is The Easiest Way to Sell Your House in 2021

    It can be disheartening to pour everything into trying to sell your home while being unsure of the outcome of your efforts. However, the Cincinnati & Dayton real estate game has changed. No longer must you face a long drawn out and expensive process; the process of finding the right buyer feels much like finding the needle in a haystack.

    Homeowners who know about this uncomplicated home sales method rest well at night because they’ve alleviated their home selling concerns. If you’d like to know the secret advantage of these satisfied sellers, read on to learn about the easiest way to sell your house.

    Transparency

    Clarity of communication is the key to success. Before deciding how to sell, wouldn’t it be nice to know how much you’d spend on listing your home and how much you’d make on the deal after a commission and compare these figures to selling directly? This change in the Cincinnati & Dayton real estate game will enable you to know upfront exactly how much you’ll earn from each type of sale. Direct buyers like those at Ohio Cash Buyers LLC want to help you make an educated decision, so we lay it all out on the table for you.

    Simple

    The Cincinnati & Dayton real estate game has changed because, with a direct sale, the complicated paperwork, looming deadlines, and financing hoops are all eliminated. Instead, direct buyers like those at Ohio Cash Buyers LLC use very straightforward contracts that are clear and concise, and because we pay in cash, we can make the deal and set a guaranteed closing date in as few as seven days or hold the closing to better suit your schedule making a direct sale the easiest way to sell your house 

    No Prep Work

    Isn’t it frustrating to pour hundreds or even thousands of dollars into your house to benefit the buyer when you’re ready to sell and move on? However, you can skip the prep work because something’s changed about the Cincinnati & Dayton real estate game. When you sell directly, you won’t need to prep for showings. Direct buyers like those at Ohio Cash Buyers LLC] have a crew of cleanup pros who will take care of anything you want to leave behind, making this indeed the easiest way to sell your house.

    No Repairs

    If you’d just rather not worry about paying for repairs, let alone going through the headaches of hiring professionals to do the work and living through the mess, you’ll love the way Cincinnati & Dayton real estate game has changed. Direct sales are as-is, meaning you don’t need to worry about passing the inspection phase of a real estate transaction. Instead, professional investors like those at Ohio Cash Buyers LLC work with an entire team of industry pros who will quickly assess your property, making a direct sale the easiest way to sell your house.

    No Fees

    You can still sell your house for a fair price without the hassles of a traditional sale; this is another way that the Cincinnati & Dayton real estate game has changed. Skipping on photography, marketing, staging, and other costs of listing and holding onto the property for months as you wait for a sale are just a few of the money-saving benefits of a direct sale. In addition, paying no commissions, no hidden fees in our contract, and no closing costs makes a direct sale to a professional investor like those at Ohio Cash Buyers LLC the easiest way to sell your house.

    Ohio Cash Buyers LLC wants you to feel good about the deal long after it’s closed. It’s clear to see that Ohio Cash Buyers LLC works hard to make a direct sale the easiest way to sell your house in 2021! To learn more, send us a message or call Ohio Cash Buyers LLC at

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  • How To Sell Your House With Code Violations In Cincinnati & Dayton

    How To Sell Your House With Code Violations In Cincinnati & DaytonDo you own an old, run-down house in Cincinnati & Dayton that you no longer want to own? Just because the house needs some work, doesn’t mean that you have to feel stuck with it for any longer. You can sell your house in Cincinnati & Dayton, and receive a great price for it! Learn how to sell your house with code violations in our latest post!

    If your property is in need of major repairs, it can be difficult to know how to sell it. Your pool of potential buyers will inevitably be much smaller so finding the right buyer can take longer than a house that is move-in ready. However, just because your house needs some work that you don’t wish to do, doesn’t mean that you should have to sacrifice on price or feel as if you are giving the house away. Below are some of our best tips for selling your house with code violations in Cincinnati & Dayton!

    Estimating Repair Costs

    If your house needs a lot of work, you’ll want to do some estimates so you know what you’re working with before attempting to sell your property in Cincinnati & Dayton. Do you know how much it will cost to make the house livable for your potential buyers? If you don’t know these numbers, it will be impossible to correctly price the house for sale or negotiate when it comes to selling your house with code violations in Cincinnati & Dayton. If you can’t do the estimations yourself, hire a contractor to help you determine the true cost of your code violations.

    Finding The Right Buyers

    Not everyone is in the market for a fixer-upper property, especially when there are major repairs required. Finding the right buyers can take some time, especially when you choose to list your property with a Cincinnati & Dayton real estate agent. When trying to sell a house with code violations in Cincinnati & Dayton, your best bet will likely be to work with a real estate investor or direct buyer.

    Price The House To Sell

    If you are trying to sell a house with code violations to a traditional buyer in Cincinnati & Dayton, it will need to be priced to sell. If the problems with the property are severe, many lenders won’t finance a loan for the property, so you may need to accept cash offers only. Before you list the property or begin the process of selling it on your own, find out what we can offer you! Our background and experience allow up to economically fix up houses, typically at a lower price than if you were to do it on your own. This ultimately saves everyone money in the long run.

    Fix The Smaller Things

    Even if your house has major code violations you aren’t able to fix, taking some time to fix the smaller things can have a huge impact on a property’s perceived value. You can fix holes in the wall, chipped paint and cracked tiles to instantly make the house look more presentable.

    Have The House Cleaned

    It may feel silly having the house cleaned if there are code violations throughout the home. However, doing so will make the property more appealing to your potential buyers. Being surrounded by filth can give the property a horrible first impression. Hire a professional cleaning company to make sure no spot is left unturned. It there is dirt in your home, it may very well be overlooked by those who want to buy.

    Emphasize The Good

    You will be surprised by what some organization and a fresh coat of paint can do for a property. Of course, you will still need to disclose everything going on with the house, but by putting your best foot forward, you can help people to see the potential in the property. Consider hiring a professional cleaning company, stager, and photographer to help make sure the property is being seen in it’s the best light. You can also offer schematics to help your potential buyer imagine what the property could become with a little work. This will also help your buyer get a better idea of what will be required to make the home what they want it to be.

    Why You Should Sell Your House Directly

    By keeping your house off of the MLS, you won’t have to deal with property showings, marketing, staging, or the continued upkeep. You won’t have to wait around, not knowing when your house will sell or what you will be offered. You won’t have to pay agent commissions, fees, or closing costs. Our selling process is simple, helping you to sell your house fast without any further aggravation… no matter what condition the property it in! Learn more about what you can do to sell your house with code violations in Cincinnati & Dayton, you might be surprised at how simple selling your house can be!

    Get in touch with us today to learn more about how to sell your house with code violations in Cincinnati & Dayton!

     

  • How To Sell A House When Lots of People Live There in Cincinnati & Dayton

    How To Sell A House When Lots of People Live There in Cincinnati & Dayton Do you have a large family or many people living in a house that you would like to sell? Do you want to sell your house quickly, without loads of additional work? Learn how to sell a house with lots of occupants in our latest post! 

    When listing a house in Cincinnati & Dayton, it can be difficult to deal with everything you need to handle in order to sell your house fast. More people living in the home means more stuff to put away, more messes to clean up, and more people you will have to coordinate with when setting up property showings. It can be very stressful getting everybody on the same page when trying to sell your house in Cincinnati & Dayton. Below, we offer some tips to make your selling process much easier!

    Have The House Professionally Cleaned

    If you choose to list your house with many occupants, it’s a good idea to have the property cleaned by a professional. This will make keeping the property clean much easier for everyone. It will give you a great jumping-off point and will set the standard of how the home should be kept. While you’re at it, you can also have the house professionally stage or stage it yourself with a few small tasteful items, being sure to avoid clutter or adding something too bold.

    Purge Old Items

    When selling a house with a Cincinnati & Dayton real estate agent, it’s a good idea to have everyone purge their old and unwanted items. Go through old toys, clothes, books, and other items that can tend to pile up. Anything you haven’t used in a while can be sold or given away unless you are sentimentally attached. The more you are able to clean up and get rid of, the less you will have to deal with when you eventually move.

    Organize Everything

    If you decide to list your house in Cincinnati & Dayton, people are bound to open the drawers and peek in the cupboards. You don’t want your family members to simply hide things away every time someone wants to see the house. Make sure to organize these tucked-away spaces so that people aren’t pushed away by all of the hidden clutter. You can buy drawer organizers, clean out cupboards, and limit the number of items being kept in the bathroom. By organizing these spaces, it will be easier to keep your house clean as a whole.

    Consolidate The Property Showings

    If you are working with a real estate agent in Cincinnati & Dayton to help sell your house, try to have them schedule showings on certain days. For example, if they are able to schedule the majority of showings on Wednesdays and Saturdays, your family will only have to worry about cleaning up on Tuesday and Friday nights. They won’t feel pressure to keep the house immaculate every day of the week… something that can be difficult for large families.

    Put Everyone In Charge Of Something

    When lots of people live in a home, keeping it clean when trying to sell can be overwhelming. While you can ask everyone to clean up after themselves, you will also benefit by designating one person to oversee a specific part of the house. For example, you can make sure the yard is always maintained, while your daughter can be in charge of making sure the kitchen is cleaned up and that everyone is picking up after themselves. Even the smallest members can get involved in the process by making sure their tops are put away and their rooms kelp as neatly as possible.

    Pack Up Your Personal Items Now

    Instead of waiting until the sale has been finalized, you can pack up your non-necessary items in advance, reducing clutter, clean-up, and the emotional attachment when selling your house in Cincinnati & Dayton. Keep in mind that if you are listing your house with a real estate agent in Cincinnati & Dayton, these items may be packed up for a while, so make sure they are safe.

    Consider Selling Your House Directly

    A direct sale of your house to Ohio Cash Buyers LLC, won’t require any work from anyone in your household. All you will need to do is pack up what you want to take and we will handle the rest. There are no repairs, clean-up duties, showings to manage, or waiting for your money. You won’t have to clean up after a number of people or a regular basis when someone wants to come to see the house. We pay cash for houses and can close quickly, making the selling process incredibly easy for you.

    Before you hire an agent to help you sell a house with many people living there, find out what a direct sale will mean for you! For many people, selling a house without any repairs, clean-up or showings, is a much better alternative to a traditional sale.

    Our team can help you sell a house when you think it may be impossible! Contact us today to find out how simple it can be!

  • How To Use The Internet to Sell Your Home in Cincinnati & Dayton

    Now, more than ever, people are finding success selling their homes online. But with the online marketplace being so hot, you are likely to face some stiff competition! We have put together our favorite tips to help you stand out and sell your home fast!

    Go Where The Buyers Are:

    There are many online listing portals to choose from. Look up some listings in your area. What sites show up first in the search results? Many times, the tops sites are Zillow and Trulia. Love them or hate them, they have a great grasp on generating real estate traffic. When you list something on the MLS, it is likely to be picked up by these major sites. Whether or not you are advertising with them, you’ll want to make sure your properties are showcased well.

    There are services that will syndicate your listing to many top sites, so you only need to enter your information once. However, make sure to check your listing on all sites in which it was syndicated. Automation can sometimes lead to the data being jumbled.

    Consider Premium Listings:

    When you do a property search on any major website, you will likely see certain properties at the top time and time again. They paid to get that top spot. Just as the Agents you see over and over again paid to put their name first. If you want to give your property instant traction, it can be worth the extra cost to put your listing at the top.

    Create a Property Specific Website:

    A unique and interesting way to sell your home using the internet would be to create a property specific website. A basic website and domain won’t cost you much to get started. With a little SEO, content, and imagery, you can quickly build a site to rival the big advertisers when it comes to showcasing your house!

    Use Amazing Photos:

    They say a picture is worth a thousand words, and they are absolutely right. Make sure the words used to describe your house are “Stunning, spacious and immaculate!” not “Dated, cramped and dingy!” When buyers see a photo of your home, it tells them whether or not they want to pursue it further. For many buyers, it is not easy to picture themselves in the home if they are seeing your personal belongings. Get a head start on packing by putting your knick-knacks and decorative items away. Get rid of all the clutter, then hire a professional photographer to take photos of your home. Look through a few listings. Notice who paid for a professional job, and who took cell phone photos from the street.

    Use an Accurate Description of the Property:

    Be as detailed and as accurate about the property as possible. Disclose any defects but also make sure not to overlook the details that may be a selling point for a certain buyer. If you have recently re-done the roof, mention it. If there is a large and bright kitchen, you should mention it.

    Watch Your Words:

    When people are house hunting, the listings can all begin sounding alike and running together. A lack of adjectives will cause every property to be “beautiful” and “cozy.” Don’t blend in with the crowd! Use colorful language to make your listing stand out from the rest. Don’t just gloss over the ad, using generic words to describe your property.

    Use Data To:

    Acquiring, understanding and using data will almost guarantee you a quick sale. Using data, you will be able to:

    • Run comps of recently sold properties in the area.
    • Locate and contact the best agents in town. Online reviews will ensure you find the agent that is best for you!
    • Study market trends for real estate in your area. Ask questions such as: when is the best time of year to sell my Cincinnati & Dayton house? What are the current buyer demographics?

    Are you ready to sell your home in Cincinnati & Dayton? We are ready to help! Fill out this form, or give us a call now!

    Sell my house fast Austin

     

  • 4 Home Winterization Jobs Worth Hiring a Professional to Tackle

    Guest post by Bret Engle

    There’s something charming about getting ready for winter. As you unbox sweaters and stack firewood, don’t forget to make sure your house is ready for the season too. While some winterization tasks can be done DIY, others are above the average homeowner’s paygrade. Here are four projects on your to-do list that you should rely on professionals for:

    1. Install energy-efficient windows

    Inefficient single-pane windows could be spiking your winter energy bills. Replacing them with double-pane windows is a big project, but it pays for itself over time in reduced heating and cooling costs and increased home value. In addition to opting for double-pane, consider how the windows operate. According to the Department of Energy, awning, hopper, and casement windows are more airtight than sliding models.

    2. Inspect the roof

    Between freeze-thaw cycles and heavy snow loads, winter is the hardest season on your roof. Make sure it’s up for the challenge by scheduling a roof inspection each fall. A professional will assess the condition of your roof based on interior and exterior factors. They’ll check for roof sagging, damaged and broken shingles, corroded flashing, and signs of moisture accumulation on the roof, as well as signs of water damage on interior ceilings. It’s best to fix these problems as they arise rather than waiting and needing to replace the entire roof. In Franklin, OH, most homeowners can expect to spend between $6,000 and $8,053 on a new roof, which can make a dent in anyone’s budget.

    3. Clean the gutters

    Sure, you could clean the gutters by yourself. But who wants to spend a day perched on a ladder, digging in the muck? Not to mention, cleaning gutters is one of the more dangerous jobs around the house: According to the CDC, 43 percent of all fatal falls involve a ladder. Hiring someone to clean your gutters costs, on average, less than $200, and the small expense is worth saving yourself the trouble.  

    4. Maintain the furnace

    Fall furnace maintenance should be a part of every homeowner’s annual schedule. Not only do furnace inspections reduce the odds that you’ll end up heat-less in the middle of winter, it also protects your family from a potentially fatal carbon monoxide leak. During an inspection, an HVAC technician will test the furnace’s thermometer calibration, lubricate its motor, and ensure all parts are unobstructed and in good working condition.

     

    While some home winterization jobs are best left to professionals, other tasks homeowners can do themselves to save money and hone their handyman skills.

    Infographic Source: HomeAdvisor

    • Reverse ceiling fans: Many people don’t realize it, but most ceiling fans have two settings: one for summer and one for winter. Flipping the switch on ceiling fans will cause the blades to push warm air downward for winter to keep your house warmer.
    • Replace the furnace filter: A dirty air filter causes your HVAC system to work harder than it needs to, resulting in higher energy bills and a less comfortable home. Throw away your old furnace filter and replace it with a clean filter of the same size before turning the heat on.
    • Seal drafts around doors and windows: Worn-out weatherstripping and cracked caulk give cold air entry points into your home. Check doors and windows for drafts and seal air leaks as needed.
    • Check smoke and carbon monoxide detectors: Fall prep is a good time to make sure all smoke and carbon monoxide detectors are in working condition.
    • Gather snow supplies: Don’t find yourself in a snowstorm without a shovel in sight. Go shopping for shovels, snow melt, ice scrapers, warm clothing, and any other necessary winter supplies before bad weather hits.
    • Prepare an emergency kit: Sometimes, there’s no shoveling your way out of bad weather. Make sure you’re prepared for getting snowed in by buying non-perishable foods, bottled water, batteries and flashlights, and firewood. If you don’t have a fireplace, consider purchasing a kerosene space heater for backup heat.

     

    There’s a lot to accomplish before winter arrives. Hiring professionals for the big jobs helps homeowners get everything done in time so they can enjoy the winter season in comfort.

    Image via Unsplash

  • Short Sale vs. Foreclosure – What’s the Difference?

    Whether you’re a buyer or a borrower / seller, a short sale and foreclosure each present different advantages and difficulties.

    What Is A Foreclosure In Cincinnati & Dayton OH?

    In simple terms… “A foreclosed home is one in which the owner is unable to make his mortgage loan payments and the bank repossessed the home” (source).  If you stop making your house payments… your lender has the right to foreclose on your property so they can attempt to recoup their money that was lent to you. 

    A home is typically foreclosed on when a borrower fails to make mortgage payments. The lending institution assumes ownership and possession of the property, evicting the borrower. These properties are then sold at auction or more traditional means utilizing the service of real estate agents. A foreclosure can damage the credit rating of a borrower, and make it very difficult to obtain a mortgage for many years.

    Depending on the state that you live in… a foreclosure can work in different ways. Check out the foreclosure process information over here at the HUD Government website.

    What Is A Short Sale?

    In a short sale, the home is still owned by the borrower.

    The definition of a short sale is… “A short sale is a sale of real estate in which the proceeds from selling the property will fall short of the balance of debts secured by liens against the property, and the property owner cannot afford to repay the liens’ full amounts and where the lien holders agree to release their lien on the real estate and accept less than the amount owed on the debt” (source: Wikipedia)

    In some cases, a short sale is an option agreed upon by borrowers and lenders. In a short sale, the home is sold for less than the outstanding balance of the mortgage. The unpaid balance (known as the deficiency) may or may not still be owed by the borrower.

    This option typically takes some time, as a few different lending institutions may own the mortgage. All parties who have a stake in the property must agree to the terms of the sale, and a potential deal could fall through if even one lender doesn’t agree.

    Short Sale vs. Foreclosure – Your Options

    While both options can have ramifications, a short sale often has less of an impact on the borrowers creditworthiness. A foreclosure could impact a borrower’s credit score by 300 or more points, where a short sale may only dent the credit score by 100 points.

    Borrowers who are foreclosed on are often ineligible to purchase another home for 5-7 years with a traditional mortgage, where under certain circumstances, a short sale borrower can purchase immediately.

    As many Americans struggle with an economy that has yet to completely recover from the 2008 crash, folks are having a hard time making monthly mortgage payments. Choosing between being foreclosed and initiating a short sale (or a 3rd option…  selling your Cincinnati & Dayton house fast  )is an easy choice for a borrower having troubles paying their mortgage on time.

    Sometimes, lenders are willing to work with borrowers to complete a short sale, to avoid the fees and time consuming process of conducting a foreclosure.

    Our suggestion is always this.

    1. Talk with your lender and discuss ways that they can work with you on your loan. We offer this service where we can help guide you in the right direction if you run into issues with your lender… just reach out to us on our Contact page and we’ll discuss your situation.
    2. Attempt a short sale or other program your lender may have that forgives part of your loan, creates a new / more affordable monthly payment so you can get back on your feet, etc.
    3. If the bank isn’t willing to work with you very much… your best option may be to sell your house. Work with a local real estate house buyer service like Ohio Cash Buyers LLC to sell your house fast for an all-cash offer. If you’re interested we can look at your situation and make you a fair offer on your house within 24 hours. Just fill out the form on our website over here >>
    4. Foreclosure. Last resort is to let the house fall into foreclosure. This is the worst possible scenario. It’ll harm your credit and you could still be left with money owed to the bank even after the foreclosure is finished.

    By knowing your options, you may be able to dodge a significant impact to your credit score, allowing you to purchase a new home when your situation improves. A foreclosure on your credit report makes that possibility extremely difficult for 5-7 years, so if you have the opportunity, a short sale can be the better option.

    Have a pending foreclosure?  We’d like to make you a fair all-cash offer on your house.

    Give us a call anytime at or
    fill out the form on this website today! >>

  • Fur a Good Paws E-Card

    We wanted to share the adorable little e-card we received from Fur a Good Paws! Click on the card to visit their website and see the good work that they do for our furry friends.

  • Where Are the Profitable Investment Properties in Cincinnati & Dayton?

    Where Are the Profitable Investment Properties in Cincinnati & Dayton-Finding a profitable investment property in Cincinnati & Dayton can seem like a fruitless endeavor. You scour neighborhoods, look at countless homes and attend auctions. No matter how many properties you look at, there never seems to be enough of a margin for you to pull the trigger and be profitable. Are there no worthwhile investment prosperities in Cincinnati & Dayton? Unlikely.

    Follow these rules to help you discover the profitable investment properties in Cincinnati & Dayton.

    Where Are the Profitable Investment Properties in Cincinnati & Dayton?

    Meet the Competition

    Like any other industry, real estate investment is a very competitive arena. The pool of investors vying for the same small pool of properties makes it hard to compete – especially if you are new or not well funded. By understanding who you are bidding against for properties, you will get a better insight about how to compete for the good, profitable deals.

    It can’t hurt to join an investment club and meet the competition. Not only do you learn about them, you become colleagues. Investment clubs are great resources to help you learn, develop partnerships,  and build a bigger real estate investment portfolio. This will enable you to acquire profitable deals you may not otherwise have the funds or knowledge to close.

    Redo Your Math

    Profits are calculated by subtracting costs from the purchase price. It is that simple. If you are losing properties to other investors offering higher prices, look at the numbers again.

    Can the other investors do the rehab for less? If so, why?

    Are the sales prices closing higher than you would have expected because of a change in the market? If so, adjust your numbers allowing you to make higher offers.

    Take a look at all line items and determine if you are in the correct ranges for all costs. It may be that you could acquire a property and still make a profit but you aren’t using accurate calculations.

    Become a Better Negotiator

    It isn’t just the competition that you need to gain a better understanding of in dealmaking. Learn better negotiation skills to improve your chances of closing a property at a price that will be more profitable to you. Sellers have needs. Learn what makes sellers tick.

    Part of what makes a seller tick might be financial distress, a family death or job relocation. Knowing why a seller wants or needs to sell or why the property is distressed in the first place will give you trigger points to work into your conversations on price.

    For example, if the seller is dealing with a probate issue, explaining to them that you are willing to work a cash offer and talk directly to the estate executor could help alleviate stress on the seller. You are offering a solution to the existing problem and this often gets results especially if your offer is below what the seller was hoping to get.

    Find New Opportunities

    We’ve talked about real estate investment opportunities as being a numbers game. The more properties you have the opportunity to see and bid on, the better your chances are to find one that makes you a nice, worthwhile profit.

    Real estate investment clubs are one location to open up more opportunities and even find better deals. You can also talk to the local county clerk to get a list of properties behind on property taxes. In some states you can buy the tax lien certificate and make a few bucks to see if the property forecloses, giving you the first right to the property for pennies on the dollar.

    Street signs are also popular ways to attract sellers who may be in an urgent situation. This is a good opportunity to have them call you rather than you doing all the legwork.

    ARE YOU LOOKING TO SELL A PROPERTY IN Cincinnati & Dayton? WOULD YOU LIKE TO GET A FAST CASH OFFER AND CLOSE QUICKLY? FILL OUT OUR FORM ONLINE AND WE’LL CONTACT YOU AS SOON AS POSSIBLE!

  • Common Investment Property Mistakes Buyers Make in Cincinnati & Dayton

    Common Investment Property Mistakes Buyers Make in Cincinnati & DaytonMany people are diversifying away from stock market investments to more tangible portfolio assets. Real estate investments are certainly the most common tangible asset investors start with.

    However, real estate is costly and thus high-risk if you don’t know what you are doing. Avoid these common investment property mistakes buyers make in Cincinnati & Dayton.

    4 Common Investment Property Mistakes Buyers Make in Cincinnati & Dayton

    Underestimating Costs

    “If you buy it they will come,” seems to be the mentality of many first-time real estate investors. They think that just by getting the title on a property, renters will flood in and thus the money will flow. This isn’t the case.

    In fact, there are many costs first-time investors don’t anticipate that end up costing them because they didn’t factor those into potential rents. These include maintenance, advertising, and repairs. Unlike your own home where you might leave a repair for a while, landlords must fix things in a timely fashion.

    Additionally, tenants don’t always remain in the home and often trash the place while living there. You need to factor vacancy time and property rehab in between tenants.

    Poor Location Selection

    It has been said over and over when it comes to real estate, “Location! Location! Location!” Real estate investments are no exception. Buying a property that is in a less than desirable location makes it difficult to both rent and resell.

    Sure, great deals can be found in depressed markets and unsafe neighborhoods, but at what cost? You may have trouble making your money back after a rehab,  let alone making a profit on the deal.

    Rehabbing properties in high-risk neighborhoods can be profitable but you need to make sure you understand the risks. So make sure to research neighborhoods thoroughly that you are interested in investing in.

    Renting to those in high-risk neighborhoods can mean more problems with upkeep and maintenance, including vandalism, drug and gang issues.

    Not Understanding Financing

    Buying a personal property and buying an investment property follow two very different financing principals. You won’t get the same great financing programs and rates available to owner-occupied homes. In fact, everything from insurance to property taxes will increase with investment properties.

    Expect to have higher down payment requirements for investments and be prepared for higher interest rates. Conduct extensive market research to make sure your property will yield the rental income or sale proceeds to pay the higher costs and still have profit.

    Failing to Perform Due Diligence

    Just because you plan on rehabbing a property doesn’t mean you should ignore all the due diligence requirements of sound investing. This means pulling all title reports and having inspections and disclosures note anything that might be wrong with the property.

    Finding out there is a huge lien on the property transferred to you upon the sale could lead to foreclosure. Similarly, not paying attention to a potential foundation issue can lead to thousands in repairs you weren’t budgeting for.

    Buying a distressed property doesn’t always mean you’re buying a money pit; learn to assess properties to properly budget for repairs and prepare for unanticipated costs. There are always unanticipated costs when buying an investment property, even with sound due diligence.

    Start small with your first investment. There is no need to learn the ropes with a million dollar apartment complex. Buy a single family home or a small multi-family building for your first few deals. This way, in case you make a mistake, it will be a bit easier to recover from.

    IF YOU ARE AN INVESTOR IN Cincinnati & Dayton AND ARE LOOKING TO PARTNER ON A DEAL, CONTACT US TODAY!

  • 3 Smart Financing Strategies for an Investment Property in Ohio

    Smart Financing Strategies for an Investment Property in OhioPopular television shows make real estate investing seem easy with guaranteed profits. What these shows don’t show you are the behind-the-scenes tribulations that investors must go through in securing and rehabbing properties.

    If you are new to real estate investment property buying, use these three smart financing strategies for an investment property in Ohio to reduce your stress and improve chances of profitability.

    3 Smart Financing Strategies for an Investment Property in Ohio

    1. Consider Financing That Includes Rehab Costs

    Most investment properties need some level of fixing. Even if you are purchasing the property to rent out, there will most likely be things you need to do in order to prepare the property for rental. Highly distressed properties may need a complete gutting and rebuilding.

    Factor all costs of rehab into your budget. If the cost is considerable, include a contractor’s estimate for the cost of remodeling the property. Seek a mortgage lender that funds loans that include construction costs. There are some smaller, niche specific lenders that do this. Even the FHA has a lending program that includes construction costs as part of one, complete loan.

    Not only does securing funding with these costs help ensure you have the money to fix the property; it also keeps the entire loan under one note. This usually keeps interest rates lower with more manageable payments. Keeping your own cash in hand is ideal whenever possible.

    2. Make a Large Down Payment

    This may seem like a no-brainer, but many new investors think that they can get into a property with 0 to 5 percent down. While there may be some lenders willing to extend credit on an investment property for these terms, the rates are generally higher and only offered to experienced investors with track records and other assets to back the property.

    Lenders view investment properties as the first place a person will “let go” of assets if financial hardships occur. Simply put, if you were to face serious financial issues, you would most likely keep making payments on your personal home and stall any payments in investment properties. This makes investment properties foreclosure higher risks, thus coming in with 20 percent or more is imperative.

    Not only will most banks require at least 20 percent on investment property, the more you put down, the more favorable your interest and loan terms become. Of course, you still need to maintain enough cash and savings to protect your own personal finances and be able to prepare the property for rental or sale.

    Smart investors often use a home equity line of credit on their own home to make a large down payment and then refinance the equity line on the new property, paying off their personal HELOC. This is leverage debt and a common strategy among real estate investors.

    3. Ask for Owner Financing

    An investment strategy not always considered is owner financing. With loans advertised by every financial institution, it has become common practice for buyers to get a loan through a financial institution. However, historically owners often financed property sales.

    You might be able to find great investment properties where owners are willing to finance the transaction. A situation where an owner has the property free and clear of a mortgage but is moving to downsize or perhaps inherited the property might be a situation where owner financing is a very viable option.

    It is always wise to ask if the owner is willing to finance. The structure usually is a short-term loan with a moderate down payment and monthly payments for a fixed period of time. These are great deals but can be hard to come by.

    IF YOU ARE INTERESTED IN SELLING YOUR Cincinnati & Dayton PROPERTY, PLEASE CONTACT US FOR A CASH OFFER. WE ARE EXPERIENCED REAL ESTATE PROFESSIONALS AND CAN CLOSE QUICKLY AND PAINLESSLY.