How To Price Your Inherited Home In Orlando For Sale | Written by Eugene Hoffman

If you’ve inherited a property and you’re planning to sell it, make sure you read this blog post for 3 tips about how to price your inherited home in Orlando for sale…

Did you inherit a property that you’re now thinking about selling? While an inherited property can be a wonderful gift for a loved one who has passed on, it can also (quite frankly) be a costly burden. So selling it makes sense and allows you to use the gifted equity for some other purpose. But selling an inherited property may not come easily to you, especially if you haven’t sold a property in a while. So here’s how to price your inherited home in Orlando for sale…

Tip #1: Price Quick To Sell

Some people price their inherited property at an amount they think the market might pay for the house. However, there are many factors that go into this price and one of the biggest considerations is: how fast do you want to sell? Selling through an agent “on the market” can take months, and you’ll have to pay for the house and maintain the property the entire time. That can be costly and can eat into the higher price.

Many property owners quickly learn that they’re almost better off to price slightly lower for a faster sale… they might get less for the house but they also pay less on repairs, carrying costs, effort, and time, so it’s ultimately a trade-off that might turn out to be a total wash.

Tip #2: Avoid Pricing Based On Fond Memories Or Emotion

One of the biggest challenges that property owners of inherited property face when trying to price their property for sale is separating the happy memories from the true value of the house. The house might be worth a certain amount on the market but you may have such fond memories of growing up in the house or of happy times in the house that you accidentally use that emotion to increase the price. (This is VERY common.)

A better approach would be to work with a real estate company and find out what they can offer you, and recognize that the price might be lower than you were expecting… not because the house isn’t worth as much but because your wonderful memories have accidentally inflated the price!

Tip #3: Build In Discounts For Repairs

If you inherited the property from a loved one who had lived in the property for many years then you might find out that the property needs some repairs. You could choose to do this work yourself and then ask for a higher price but why do that when you could save yourself the time and effort (and what you’d have to pay for equipment, supplies, or a contractor) and instead just ask for less and give a “repair discount”. That way you avoid the hassle of the work, and you still come out the same financially.

Summary

An inherited house can be a lot of work so if you’re thinking of selling it, you’re certainly not alone. But how do you price an inherited house? These tips will guide you on how to price your inherited home in Orlando for sale. Get a professional 50+ page CMA report from Eugene. He is a licensed Realtor and operates a home buying company for a dozen cash buyers.

Call Gene anytime at 407-781-7312

www.wecanbuycash.com

Sanford| 810 E 25th St|Cheap Property $99,900 3 bd, 2.5 ba, 2213 sqft Contact Gene anytime at 407-781-7312

Investors Goldmine Property| Sanford| 810 E 25th St|Cheap Property

Click Here. More Wholesale Properties

$99,900 3 bd, 2.5 ba, 2213 sqft

Contact Gene anytime at 407-781-7312

810 E 25th St
Sanford FL 32771
Price: 99,900
ARV: 249K+
Bedroom: 3
Bath: 2.5
1 Car Garage
Ext Const: Frame
Built: 1901
Sqft: 2,213
Ppsf: 49.66
Tax/Yr: 2,735.00
Septic/Sewer: Sewer
HOA: n/a
County: Seminole
Avg Rent = 1,600/mo
Gross Rent ROI = 12.1%

Property Overview, the main reason that this is such an amazing deal is the land that this historic home sits on. It’s 1.34 acres of RMOI zoned land (Residential/Multi-family/Office/Industrial).  The only RMOI property that has sold in the entire city of Sanford in the last 12 months sold for 430K, and the office building directly across the street that sits on only 1/4 acre of RMOI land is listed for 200K. Conceivably one could renovate the existing structure to be utilized as an office building, while removing the detached garage, leaving two build-able lots, or, it could also be possible to demolish everything and then build for almost any purpose.

Property Features include, sturdy older roof, original wood floors, 10 foot tongue and groove ceilings, 10inch baseboard, two wood burning fireplaces, a well-preserved kitchen, nicely maintained bathrooms, and two sun rooms.  There is also a detached garage/workshop..

Rehab: 40k-60k
Roof, siding repairs, refinish floors, plaster repairs, kitchen and bath updates, and install central AC.

Rehab: 40k-60k
Roof, siding repairs, refinish floors, plaster repairs, kitchen and bath updates, and install central AC.

May 18, 2016

4 photos

Deltona |1380 N Normandy Blvd $64,900 3 bd, 2 ba, 1082 sqft

Investors Goldmine Property| Deltona |1380 N Normandy Blvd

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$64,900 3 bd, 2 ba, 1082 sqft

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Contact Gene anytime at 407-781-7312

Price $64,900

ARV: 114K

1 Car Carport
Ext Const: Block
Built: 1963
Sqft: 1,082
Ppsf: 62.75
Tax/Yr: 1,274.00
Septic/Sewer: Sewer
HOA: n/a
County: Volusia
Avg Rent = 895/mo
Gross Rent ROI = 14.1%Property overview, this off-market deal is nothing short of spectacular,  considering that out of the (347) 3 bedroom 2 bath SFH sales that have occurred throughout the entire 32725 zip code in 2016, only (11) homes have sold for less than this opportunity, there should be no shortage of ecstatic investors ready to pounce on this nearly move in ready concrete block beauty.Property features include, sturdy older roof, updated windows, tile floors,  well-preserved kitchen, partially updated bathrooms, and a fully intact older central AC system.  There is also a screened in back porch and a storage shed.Rent Rehab: 3k-5k
Paint, flooring, appliances, cosmetics, and AC.FlipRehab: 15k-20k
Paint, flooring, kitchen and bath updates, appliances, cosmetics, and AC.

Property Details

Price:

$64,900

Address:

1380 N Normandy Blvd

City:

Deltona

State:

FL

Zip Code:

32725

Year Built:

1963

Terms:

For Sale

Property Type:

Home

Square Feet:

1082

Bedrooms:

3

Bathrooms:

2

Const. Type:

Ext Const: Block

Why Warren Buffet Says To Buy Single Family Investment Properties Right Now | Written by Eugene

Check out the quick video of Warren below: (click the video to play)

Why Warren Buffet Says To Buy Single-Family Investment Properties Right Now

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I found a video recently of the world’s most successful investor… Warren Buffet… talking about why right now buying single-family homes and renting them out is one of the smartest things you can do.

Check out the quick video of Warren below: (click the video to play)

If you’re at all thinking about buying some rental properties anytime soon… right now is that time.

What’s Coming Down The Pike (and already happening)

Already institutional investors like hedge funds, mutual funds, private equity firms… etc. are shifting from buying stocks… to committing hundreds of millions of dollars (in some cases, billions) to buying foreclosed and REO houses… and renting them out.

The returns they can get doing that are much greater right now than they’re seeing in the stock market.

So, if you wait… the supply of bargain properties will be way down… and will make it harder and harder for investors like you and me to find the best deals.

So, if you’re interested in picking up a couple extra rental properties (or a bunch)… make sure you’re on our VIP Buyers list on this site so you can get our Discount Property Alerts every time we tie up a deeply discounted property.

Happy investing!

Tips on Buying Orlando Real Estate with your IRA | Written by Eugene Hoffman

Tips on Buying Orlando Real Estate with your IRA

Looking for investment properties in to flip, buy and hold, or wholesale? Eugene specializes in finding and offering deeply discounted area real estate to investors. 407-781-7312

While most people understand that real estate is an investment, many people are taking advantage of the qualified retirement accounts to purchase real estate as an appreciating or revenue-generating instrument like IRAs.

It’s really important to understand the tax implications, legal ramifications, and various other intricacies of purchasing Orlando real estate within your IRA.

So, lets dive into some tips on buying Orlando Florida real estate with your IRA!

Tips on Buying Orlando Real Estate With Your IRA

If you don’t have a self-directed type IRA… first off… you’ll need to connect with your trusted financial adviser to find a reputable and low fee self-directed IRA. Or, connect with us and we can direct you to some very good self-directed IRA companies we’ve worked with in the past.

Open a Self-Directed IRA

You can own a wide variety of properties within your IRA, including residential, commercial, and industrial structures, as well as unused land. Many savvy investors choose to purchase parking lots, storage unit facilities, and other types of property that require little maintenance, but generate steady income.

Your IRA cannot own any home where you live or vacation. Legally, you aren’t even allowed to spend one night in the property. You cannot avoid this restriction by “renting” the property from your IRA, or renting to your spouse, children, grandchildren, parents, or grandparents, nor can you use an IRA to purchase property from close family. You could, however, rent to property to a sibling, cousin, or friend. A solution that many investors implement is to purchase a home for their IRA, rent it out for income until retirement, then assume residence upon retirement.

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Investment Property Tax Deductions List for Orlando | Written by Eugene Hoffman

Investment Property Tax Deductions List for Orlando

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Don’t roll the dice with your hard earned money. Call us let’s talk.

Uncle Sam gives, and Uncle Sam takes away.

But in the case of buying local Orlando investment properties… you can earn investment property tax deductions for your Orlando properties.

For real estate investors, the United States provides the opportunity to earn a living purchasing investment properties… and holding those properties as investments, and of course the income from those properties is taxed.

But many new investors often overlook tax deductions that could have an impact on their bottom line. Today, we’re going to take a look that Orlando Florida real estate investors can take advantage of.

Income Sources You Can Potentially Deduct

• Repairs and expenses paid by rental tenants are considered income. This could include an emergency water heater repair that tenant took care of on his own. These repairs can be deducted.
• In some cases, tenants will trade repairs and upgrades to a rental unit for a reduction of rent. These services can be deducted, so long as they’re claimed as income, and must be charged at fair market value. You cannot work out a deal with your tenant to fix a light switch for three months rent, then deduct that ludicrous “income” on your tax return.

Security Deposits

A security deposit is not taxable, based on the thought that your intent is to return this deposit at the end of a lease term. However, if a tenant breaks the lease and forfeits his or her deposit, you can claim the security deposit as income, so long as the deposit is used to make repairs.

These repairs are deductible expenses.

Make sure with your accountant or local property manager that they’re handing your security deposit accounting correctly so you’re not paying income tax on security deposits that you’ll be turning right around and paying back when a tenant leave.

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How To Formulate Three Offers For A House When Buying Cash In Orlando

How To Formulate Three Offers For A House When Buying Cash In Orlando 

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How to make an offer and let the seller decide their best solution

Investing in real estate with cash is a smart way to buy but it’s not easy to know how to make an offer. If you’re wondering how to formulate an offer for a house when buying cash in Orlando keep reading to learn more and to see how we do it…

You’ve Got A Property In Mind… Now What?

If you are looking for a real estate deal to acquire for cash and now you’re wondering how to formulate the offer, you’ll love these 3 strategies that many investors use daily to acquire deals in Orlando. Be aware that they may take some practice… and they won’t work for every seller you meet so test them out a few times to perfect your ability to use them. Once you perfect them, you can use this as a system over and easily make offers.

#1. Market Price Less A Percentage

The first way to formulate an offer for a house when buying with cash in Orlando is to find out what the market price is for the property and then subtract a percentage. You can get the market price by “pulling comps” (finding out what similar properties have sold for recently in the area). You can sometimes get this information yourself but if you partner with a real estate agent they can do it for you. Comps will tell you how much other similar properties have sold for recently and then you can subtract a percentage to formulate your offer.

For example, you can offer market price less 20%. So a $100,000 comp would mean that you’d offer $80,000 for the property.

#2. Profit Plus

The second way to formulate an offer for a house when paying cash in Orlando is to work the other way (and to factor in what you can sell the property for). Figure out how much you want to make and then add your costs. That way, you build in profit into the deal. However, this way can be challenging if you don’t know how to accurately estimate your costs, so make sure you build a good relationship with a contractor who can help you.

For example, if you want to make $15,000 on the property and you know that the property will cost $25,000 to repair then you might offer $30,000 to the seller but plan to sell it for $45,000. Using this strategy helps you think ahead to consider what you can get for the property and whether you’ll be able to make a profit.

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Self Directed 401k Real Estate Investing In Orlando - Frequently Asked Questions | Written by Eugene Hoffman

Self Directed 401k Real Estate Investing In Orlando - Frequently Asked Questions

Investing in real estate shouldn’t be a gamble. Know your future returns. Our Orlando wholesale and turnkey properties have equity built in from day one.

Most people think about investing in housing in their personal name or holding it inside an investment company (such as an LLC). But many people are discovering that there are other options, including self-directed 401k real estate investing.

That’s right, you can hold real estate in your self-directed 401k. It’s a powerful way to put your retirement fund to work by owning a cash-flowing asset and letting the income grow tax-deferred or tax-free until retirement.

If you want to grow your retirement account and don’t want to put that money into the volatile and speculative stock market then this might be a strategy you’ll want to consider.

Self-directed 401k real estate investing in Orlando – is it possible?

Yes, you can! Most people are only aware that they can invest in stocks or funds in their 401k or IRA but you can also invest in real estate. (Some IRA custodians don’t want to hold real estate for you, which is why you should find a self-directed IRA custodian who will).

You simply purchase the property in the name of your 401k (not your personal name) and all income goes into your 401k. You can even pay for any management fees inside your IRA as well.

Should I invest in real estate in Orlando Florida with my self-directed 401k?

What you choose to invest in is up to you. However, many investors are discovering the power of putting a cash-flowing asset into their 401k. That cash flow is like having an extra contribution each and every month in your retirement account!

Imagine the power of a consistent cash flowing asset that adds to your retirement account month after month after month with little or no work on your part. Wouldn’t that suddenly transform your retirement from something you’re worrying about to something you’re looking forward to?

You might even find, like many investors do, that putting a few cash flowing properties into your 401k could allow you to retire even sooner than you realized! What would life be like if you didn’t have to wait until aged 65, 70, or 75 to retire but could retire right now?

(And don’t forget about the amazing tax benefits: Depending on your 401k plan, that income could grow tax-deferred or even tax-free!)

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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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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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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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