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What You Need To Know Before Buying A Turnkey Property In Orlando

by Eugene on November 5, 2016 in buyer, Case Studies, Company News, orlando-income-properties, orlando-investment-properties, owner-financing, private-lending-trust-deeds, Real Estate Articles, Real Estate Market Statistics, Real Estate News, Wholesale PropertiesEdit

Are you thinking about buying a turnkey property in Orlando? Make sure you read this blog post to find out what you need to know before buying a turnkey property in Orlando or the surrounding area. This information could help you find the right investment and avoid the wrong one!

There are different kinds of investments but we believe that one of the best kinds of investments for most real estate investors is a turnkey property. That’s because turnkey properties are already cleaned up, rented, managed, and cash-flowing right from day one, which means you start generating returns earlier than you would with a flip or a distressed property that you need to do all the work on before you start seeing any income.

To help you find the perfect turnkey investment, here’s what you need to know before buying a turnkey property in Orlando.

#1. Cash flow

You’ll want to know how much it cash flows. Cash flow can vary, but ANY cash flow can be good. (Even Robert Kiyosaki’s very first property was only cash flow positive $25 a month!) The key is not necessarily a specific cash flow amount but more about the consistency of the income. If you want cash flowing properties, be sure to talk to Eugene Hoffman. Get in touch by calling us at (407) 781-7312 and we’ll share our current inventory of cash flowing turnkey properties.

#2. Expenses and fees

As with any investment, there will be expenses and fees. It’s good to know what yours will be. Are there HOA feels? If you’re holding them inside an LLC, will there be corporate fees? If you’re buying the property inside an IRA, will there be fees to the Self Directed IRA custodian? There’s nothing wrong with fees; it’s just good to know what they are.

#3. Insurance

All real estate should have insurance, especially if you’re dealing with tenants. No matter who you buy your properties from (us or anyone else), make sure you ask them about what insurance comes with the property and whether anything else is needed.

#4. Management team responsibilities

One of the best parts of turnkey investing is getting a cash flowing real estate investment that you don’t have to manage yourself! The management team will take care of many things to help make this hands-off investment. That said, you should be aware ahead of time of what they will and won’t do. Will they proactively tell you when someone needs to be repaired or do you need to ask? Will they pay for utilities and taxes or will you get the bill? There is no right answer, you have to figure out what works for you, but just be aware ahead of time so you don’t get any surprises.

Foreclosure Scams in Orlando- Beware Of Scams Like These - Written by Eugene Hoffman

Foreclosure Scams in Orlando- Beware Of Scams Like These

As you know, foreclosures over the past 5 years have been at record levels.  Just like with anything, when there’s an opportunity or when there’re people in pain… the dishonest and unscrupulous people in the world tend to come out of the dark shadows to prey on homeowners who don’t know any better.

Foreclosure scams in Orlando have even picked up in recent years.

We’ve been working with homeowners for some time now, in fact, we talk with homeowners in foreclosure every single week.  You should hear some of the stories we’ve heard of people in foreclosure being taken advantage of by scam artists proclaiming to be reputable “real estate investors”.

Not All “We Buy Houses” Companies Are Created Equal

You’ve seen those signs that say “We Buy Houses Orlando”… or websites like ours that mention the phrase.  Yes, we buy houses in Orlando and I’ll walk you through how to spot potential scams vs. reputable house buyers in our area.

As a quick summary… there are companies out there that buy houses from people who need to sell.  But, in some cases… that’s where the similarities from the scam investors and legitimate companies with great reputations like us stop.

In this article, I’m going to walk you through some of the ways a small percentage of people try to take advantage of home owners like you.

This is meant to be a “consumer awareness” guide to help you spot the companies to avoid and pinpoint the “we buy houses” companies that you can trust (because the majority of home buyers are great people with great integrity… it’s those few bad apples that ruin it for everyone else.)

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I am Relocating And Need To Sell My House In Orlando - Written by Eugene Hoffman

I am Relocating And Need To Sell My House In Orlando

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Relocation is a complicated exercise in coordination. We get local Orlando home sellers calling us or submitting their house info on this website every week saying “I’m relocating and need to sell my house in Orlando“.  The great thing is that we’re able to help a good many of those sellers sell their house quickly (because we’re actively buying houses in Orlando right now!).

There’s an insane amount of details to keep together, plus the stress of whatever is making you move in the first place – often it’s a new job or a sick relative, but the true need to move always comes with a dramatic change.

So how do you make the most out of a difficult situation?

I am Relocating And Need To Sell My House In Orlando

by Bearlakegroup on April 22, 2016 in avoiding-foreclosure, buyer, Company News, ira-real-estate-investing,Real Estate Articles, Real Estate News, real-estate-market, sellers, short-sale-information, Wholesale PropertiesEdit

Relocation is a complicated exercise in coordination. We get local Orlando home sellers calling us or submitting their house info on this website every week saying “I’m relocating and need to sell my house in Orlando“.  The great thing is that we’re able to help a good many of those sellers sell their house quickly (because we’re actively buying houses in Orlando right now!).

There’s an insane amount of details to keep together, plus the stress of whatever is making you move in the first place – often it’s a new job or a sick relative, but the true need to move always comes with a dramatic change.

So how do you make the most out of a difficult situation?

Don’t Agonize – Organize.

You don’t want to be in a situation where you end up paying to own and maintain a vacant house for 2 years. That gets expensive and it doesn’t have to be that way.

Although the market is relatively stable right now in Orlando, things can change in the blink of an eye. We’ve heard some serious horror stories over the past couple of decades. Unless you’re filthy rich, you probably can’t afford to wait it out.

So how do you make the right choices when you’re relocating and need to sell your Orlando Florida house fast?

Relocating And Need To Sell My House Fast In Orlando… Your Options And Steps

First…

1. Find out what your house is worth: To do this you can contact a reputable real estate agent or connect with us and we can give you a no cost no obligation valuation on your property.  Once you know what the house may be able to sell for in the current market… that sets the basis for how long you may or may not be able / willing to sell the house.
2. Decide how fast you need to sell your house after you relocate: This is a biggie. I’ve seen professionals who moved out of state for a job who had their house on the market for over a year before selling it for a much much lower price than they hoped. Decide how fast you need to sell your house… and how long you’re willing to keep making 2 mortgage payments, insurance payments, etc.

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Selling My House for Cash in Orlando - Written by Eugene Hoffman

Selling My House for Cash in Orlando

Should you take a cash offer for your Orlando house?

Not always.

I’ll tell you how to sell any property for cash, some reasons to refuse a cash offer – and when you shouldn’t say no.

Selling My House For Cash In Orlando

If you’re selling a property in Orlando to an end buyer (the person living in the home), chances are good it won’t be bought with cash.

Most transactions close with a bank loan because most buyers don’t have the funds.

This isn’t news.

Even most investors don’t close transactions with cash. It’s easy to let a bank share the risk, even if you have the money – most investors spread themselves too thin.

Eugene does not spread himself too thin because his primary goal is to build stable communities around Orlando.

In most cases, we’ll pay cash for your Orlando Florida property.

Eugene does not spread himself too thin because his primary goal is to build stable communities around Orlando. In most cases, we’ll pay cash for your Orlando Florida property.

The Benefits Of An All Cash Sale Of Your House

The benefits of a cash sale are real:

• money fast
• when you need it most

You don’t have to deal with the hassles of waiting months for a buyer to get a mortgage, only to be told that the lender eliminated the program and you’re back to square one.

You don’t have to list your house with a real estate agent and pay a huge commission.

You don’t have to deal with a lot of people just “kicking the tires” and checking out your property for fun. We don’t waste your time. This is our business.

You don’t need to paint, make repairs, or even clean up. We take properties just as they are. You won’t waste money on junk haulers or contractors.

You don’t need to deal with any paperwork. We have it all covered.

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I Inherited a House, What To Do? – Should I rent or sell in Orlando? - Written by Eugene Hoffman

I Inherited a House, What To Do? – Should I rent or sell in Orlando?

First, we’re so sorry for your loss. This can be a very challenging time for many reasons, and dealing with property ownership is tough at the best of times. You’re thinking, “I inherited a house, what to do with this house?” Should I rent it? Should I sell it?  How should I sell it?

Tons of options open for you, but…

… we can help.

We’re seasoned investors in Orlando real estate, and we’re looking to buy several houses each month in the Orlando FL area. Every month we get calls from those who have inherited a house and are looking to sell the house… so the info below are some tips to help you navigate the process.

I Inherited A House, What To Do Next?

Here're a few important considerations to help you make the right decision:

1) Make sure the mortgage is paid.

This may sound obvious, but if the person who left you a property also had a mortgage (unless it had no mortgage and was paid off, which is great!), you have to pay it (assuming you want to keep the property). Some banks will allow you to assume the loan, while others may force you to refinance into a new loan. If you don’t qualify for a new loan, renting may not be an option for you.

2) The investment is only as good as the manager.

If dealing with brokers, maintenance, tenants, rent collection and all the nuances of property management isn’t the best use of your time, hire a professional to help you or cash out now.  Some people who inherit homes decide to keep the house and rent it for extra income. That’s a great strategy for sure. You just need to be prepared to manage the property and the hassles that can go along with tenants and toilets.

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Behind in my mortgage payments in Orlando! - Written by Eugene Hoffman

Behind in my mortgage payments in Orlando!

Behind on your mortgage? Read this article for a few tips on what you can to do prevent and avoid foreclosure

When you fall behind in your mortgage payments on your Orlando home, it can feel like you’re drowning in debt.

Even if you’re able to make your monthly payment, catching up on a past due amount can be an overwhelming trial.

Life seems that there are are no opportunities that can help you to avoid foreclosure in Orlando and maybe even keep your house when you’re seriously behind in payments. Lots of properties in Orlando have been lost to foreclosure, but there are many ways to avoid it.

1. Bankruptcy:

This is usually the tool of last resort. If you’re being crushed by lots of debt, bankruptcy can be a good way to negotiate with lots of lenders at once. It’s a lot of work, and it won’t help you avoid your mortgage. Different lenders will treat your circumstances in unique ways. You’d benefit from serious professional help – the best you can afford. Our advice is free. If your house is only type of debt find a way to sell. A lender usually prefers to take a partial payoff(short-sale) to having their legal department start foreclosure. That is expensive for both parties.

2. Reaffirm:

This can be a good card to play, but it may come with some unseen penalties. Basically, reaffirming the loan is an additional commitment to pay. In some states where it’s allowed, an affirmation can create additional liabilities if your property is auctioned.

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How to sell your House Quickly in Orlando without any Hassle - Written by Eugene Hoffman

How to sell your House Quickly in Orlando without any Hassle

Are you worried on how to sell your house quickly in Orlando without any hassle?

In this article I’ll dive into some ways you can start to look at to sell your local house more quickly.

There are lots of reasons people need to sell their house fast.

For instance, some of these reasons may include:

• need to relocate to another city because of a job change
• vacant property is being a burden on you
• divorce
• financial hardship
• you inherited a house that you don’t want to keep
• … among other reasons for needing to sell your house

So, if you’re looking to sell your local house fast (which who wants to sell their house slowly anyway?)… check out some of my tips below in this quick article.

Leverage The Web To Get The Word Out

Stats have shown that over 80% of house buyers go to the web first to research and find houses.

So if your house isn’t on the web… how are buyers going to find out about your house?

There are lots of ways to get your house online. You can list it on websites like Zillow, redfin,Craigslist… or even setup your own website for the property.

Then, take that property listing and get it everywhere online that you can. List it on all of the classifieds websites (again, Craigslist, Backpage, etc.).

Total Cost: FREE – Cheap (most routes are free, but some of these sites have paid versions)

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How to Sell your House by Yourself in Orlando: A Short Guide - written by Eugene Hoffman

How to Sell your House by Yourself in Orlando: A Short Guide

The City of Orlando is nicknamed “The City Beautiful” and its symbol is the fountain at Lake Eola. Orlando is also known as “The Theme Park Capital of the World” and in 2014 its tourist attractions and events drew more than 62 million visitors

Selling your house is something you’ll have to do maybe just a few times in your life.  And unless you know a local Orlando real estate agent who will sell your house for free or a hugely discounted commission… it can be a real pain in the rear and an expensive process for you as well.

So… you landed on this page about “How to sell your house by yourself in Orlando Florida” because of a few reasons I’m guessing…

• You have no or very little equity in your house so you can’t afford to pay a real estate agents commissions
• You have equity but want to try to save money selling the house yourself before you resort to hiring an agent
• You’re in foreclosure (or heading that way) and just need to sell fast without incurring thousands in agent commissions
• You can’t wait the months and months it sometimes takes to sell a house in the Orlando area in this market so you want to try to sell it more quickly

Whatever one you land in… there are ways to sell your house yourself here in the local Orlando real estate market.

Since 2013, the housing sector has been experiencing a major recovery. Selling your house at this time will definitely be profitable if you do it right. In most cases, it is about using smart marketing strategies and being realistic about your expectations on what you want to achieve with this sale.

This article will provide some guidelines to help you sell your Orlando area house yourself.

How To Sell Your House By Yourself In Orlando Florida – Let’s Dive In

Know The Orlando Real Estate Market Well 

The first and most important step is doing a market research on your neighborhood in the Orlando Florida area. This step involves visiting various home marketing sites (Zillow,Eppraisal the Chase home value estimator, etc), calling a real estate agent or two to see what your home is worth, or reading about the various market pricing techniques.Proper homework on these issues will allow you to come up with a right price for your house and also helps you to avoid making certain selling mistakes.

If you don’t want to hassle with trying to come up with a home value yourself… give us a call at (407) 781-7312 and we’ll give you an honest fair valuation of what your house is worth on the retail market (if you’re going to wait the 3-6+ months to find the perfect retail buyer). And if you want to… we’ll make you a fair all-cash offer on your house to give you that option of selling quickly (we can close in as little as 7 days if you want to).

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What is a Pre-Foreclosure in Orlando? - Written by Eugene Hoffman

What is a Pre-Foreclosure in Orlando?

What is a Pre-Foreclosure in Orlando?

With millions of homes across the country going into foreclosure, it’s important for both buyers and mortgage holders to understand the process.

So what is a pre-foreclosure in Orlando anyway?

Many homeowners across America and Orlando are facing difficulties making their monthly mortgage payments.

When a homeowner misses 3-6 months of mortgage payments, the lending institution will issue a warning, notifying the homeowner to pay or lose their home. This period is known as “pre-foreclosure.”

Banks and mortgage lenders typically provide three months for the homeowner to become current.  Of course, this number can vary by bank and situation sometimes.

If a homeowner fails to make the necessary payments, the bank will foreclose on the home, assuming ownership, and evict the homeowner. Thankfully, during this stage of the foreclosure process, a mortgage holder has the opportunity to take advantage of several options to prevent losing their home.

What is a Pre-Foreclosure in Orlando?

by Bearlakegroup on May 22, 2016 in avoiding-foreclosure, Company News, Real Estate Articles, Real Estate News, real-estate-market, rent-to-own, sellers, Wholesale PropertiesEdit

With millions of homes across the country going into foreclosure, it’s important for both buyers and mortgage holders to understand the process.

So what is a pre-foreclosure in Orlando anyway?

Many homeowners across America and Orlando are facing difficulties making their monthly mortgage payments.

When a homeowner misses 3-6 months of mortgage payments, the lending institution will issue a warning, notifying the homeowner to pay or lose their home. This period is known as “pre-foreclosure.”

Banks and mortgage lenders typically provide three months for the homeowner to become current.  Of course this number can vary by bank and situation sometimes.

If a homeowner fails to make the necessary payments, the bank will foreclose on the home, assuming ownership, and evict the homeowner. Thankfully, during this stage of the foreclosure process, a mortgage holder has the opportunity to take advantage of several options to prevent losing their home.

Pre-foreclosure Options for Borrowers

If you’re behind on mortgage payments, you’re likely to receive a “notice of default” from your mortgage lender.

This document will state that you have not made mortgage payments for the last 90-180 days.It’s important not to panic.

You have options that can delay or even prevent losing your home:

• If your mortgage is “above water,” (meaning you have equity in your house) you may be able to refinance your mortgage, receiving lower monthly payments.  Check with your local Orlando mortgage broker… or contact us and we can connect you with a reputable one.
• You may be able to quickly sell your home to a real estate investor that’s reputable in Orlando like us at Eugene Hoffman, using the cash acquired to pay the months of back-payments owed (or we *may* be able to work out something with the lender that relieves all or part of your back payments.We can buy your Orlando FL area home quickly, often in just a week or two, will pay in cash, and takes the stress out of trying to find a buyer.
• You can contact the bank and ask them to permit a short sale. In a short sale, you’ll sell your home for less than it’s worth, and the bank will take the loss as a tax write-off.  In some short sales you may still be required to pay the difference to the bank if the house doesn’t sell for what is owed on the loan.
• You may be able to declare bankruptcy, which can buy you time to pay your debt. Bankruptcy will remain on your credit report for years, and can cause significant damage.

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How to Avoid Foreclosure in Orlando - written by Eugene Hoffman

How to Avoid Foreclosure in Orlando

How to Avoid Foreclosure in Orlando

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I can help you like I helped my family when we were in pre-foreclosure

While the housing market is rebounding, many people in Orlando Florida are still struggling to make their mortgage payments.

If you’re underwater on your home or having trouble keeping up with your monthly mortgage payments, you could be fearful that your mortgage provider is going to foreclose.

Thankfully, there are a number of things that you can do to avoid foreclosure in Orlando. It’s important to remember that moving quickly is absolutely paramount, and could save your credit rating and your home.

So let's dive in on a couple quick tips on possibly how to avoid foreclosure in Orlando with your home.

The Keys of How To Avoid Foreclosure in Orlando Don’t Abandon Ship

Many people simply give up and walk away from their home. There are even areas of Orlando have begun to resemble ghost towns, as the economy has impacted residents significantly.

Detroit is a prime example of what can happen when people abandon their homes.

This can be a stressful situation, but it’s extremely important to keep your wits about you. A foreclosure will have a huge negative impact on your credit score, and likely prevent you from purchasing a home for years to come. If you sell your home, you could leave a portion of the loan unpaid, and the lender could pursue legal action against your for the unpaid portion.

While it’s extremely stressful, you do have options:

• Negotiate with your mortgage lender. Banks and other financial institutions are well aware that citizens of Orlando are struggling. If you haven’t missed a payment yet, you may have some leverage to renegotiate the terms of your loan. Banks don’t like foreclosing on homes, and many will work with you if you aren’t too far behind. You may be offered forbearance or even a full loan modification.

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