When I Sold My House

Two years ago I called my boss and said I was getting divorced. That’s another blog post for another day, but what I will tell you is about my experience with selling my house.

First, I had to decided whether I wanted to put the house on the market myself, or if I wanted to actually get a real estate agent. I felt like there were pros and cons to both, but I was a full time employee and decided that getting a real estate agent was the best decision.

My agent was actually very supportive and helpful through a very unstable time in my life. She helped with everything I needed and was patient with all the questions about the process. She also gave me lots of great knowledge about the process for the future.

I highly suggest doing your homework before hiring an agency so you know what is best for you. Doing the research was very beneficial for me as I had a positive experience with my agent.

She let me know exactly what I needed to do to make sure my house was in the best shape to sell. In addition, I did not have to deal with all the paper work and other nasty stuff that comes with trying to sell my house.

This time in my life was stressful and I’m thankful I had an agent there to deal with my house while I had so much other stuff going on. I’m not saying that getting an agent is the best thing for everyone, but if you are busy and simply don’t have the time, do the research and higher an agent! You won’t regret it!

My house sold in about 4 months, and I was just thankful to have it off my hands and have a fresh start. it was only a little bit lower than the original asking price, and I made a little money as well. Overall, my experience with a real estate agent was positive!

 

 

Airbnb?

Like any business, real estate owners and investors are looking to maximize profits out of the resources they have. The resources for landlords and property owners is their property of course! Now this does not apply to commercial real estate, but if you are in the residential rental game, with the growth of the internet, landlords now have new options in running their businesses.

Airbnb is an online service that allows anyone to list property they own to others to rent and use, just as a hotel or bed and breakfast service would. Now there are several pros and cons to the service, but it should be evaluated to find out if it could be a valuable addition to your rental approach. If you own a building with several units, I would recommend choosing one of those properties to experiment with renting through Airbnb.

First some of the good things. For one, the website has created a large name and brand for itself and is very popular worldwide, with Airbnb you reach a market that is hard to be beat and much vaster than any ad on craigslist could reach. On top of that, due to the nature of Airbnb’s market (mostly vacation and travel rentals), the rates you can charge per night are considerably more than a standard yearly lease/rental agreement. The same unit you charge 900 dollars a month for could go for 90 dollars a night! Even if you just rented out the unit on weekends alone, you would see 720 dollars per month, and of course you would be able to rent out the unit on more than just the weekends. Airbnb is also great, in that it allows you to define what level of accommodations you want to rent. If you want to rent an entire apartment or home, go for it! But, if you have just a spare room, or unit with a shared bathroom, you are free to do that as well. So you may be able to rent a property that you weren’t able to fully lease out previously. Listing on the website is also pretty easy, and you don’t even need any fancy photography skills, Airbnb will even send a professional photographer to your unit to take great pictures showing off your lovely rental and making you more money!

There are some cons to using Airbnb however. First, off, these aren’t tenants you are working with but people who would otherwise be hotel or hostel guests. Some of them may be needier than others and require more customer service than you are used to providing, others may be very maintenance free and you will hardly notice them there. The best way to get renters who match what you are looking for is to be upfront about the type of rental service you provide and your level of availability to the renter. Also, rental accommodations will have to be more furnished than a rental apartment. But, the more money you invest into decorations and other unit amenities the higher the rate you can charge.

Airbnb won’t always be right for everyone, but there are advantages to listing on the service that may make it worth it for you. Make sure to look into the laws regarding services like Airbnb in your area as local governments have started regulating online rental services.

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House Flipping 101

The housing bubble of the late 2000’s is long over, the housing market is on the rebound. With the current upswing maybe you have thought about entering the market, or are even looking at ways to start a new business by getting into real estate. There are lots of angles into the market: becoming a landlord and renting, going from renting to owning, but perhaps the most popular is house flipping.

Just what exactly is house flipping? House flipping is where a buyer purchases a home below market value for the area, renovates, improves and puts money into the house, and then resells the property for a profit. Sounds easy right? Well before you bring out your checkbook there a few things to consider.

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