Today, I was looking on Craigslist to find out what the going rate was for rentals in an area before either I, or an investor, purchase a property in that area for a possible lease option. Then, what do I see on rental after rental?NO PETS ALLOWED!This is absolutely stupid if you want to get your rental property rented. You are eliminating half of your potential renters and usually the most profitable ones. Most people who own pets treat them like a family member and won't get rid of them, just because they need a place to live. But, they will pay more for the privilege to live somewhere that does allow pets.If you own a rental property and want an extra source of income, put in your ad, "$250 non-refundable pet fee". Also require at least a one year lease and charge an additional $25 p... 08/29/2007

Fantastic Aloha Traditional on private cul-de-sac. The lovely Kirkwood Park home features new dark oak hardwoods, remodeled kitchen and bathrooms, modern designer interior colors, surround sound & A/C. Huge backyard with extra large deck, covered patio, large shed & lots of useful space plus swing set. RV parking pad adjacent to driveway for 3 car garage wired for SAT/Cable. Address: 20531 SW Anna Ct. City/ST: Aloha, OR Zip Code: 97006 Location: 20531 SW Anna Ct. Property Type: Single Family Home New or Resale: Resale Square Footage: 2112 Bedrooms: 3 Bathrooms: 2 full, 1 half MLS# 7085826  For additional photos and details visit http//:www.TonyandLibby.comor call 1-800-395-1151 code 609 for 24 hr recorded information This listing is brought to you courtesy of the Tony and Libby Kelly Gr... 08/29/2007

Now that I have your attention, I am serious! I don't care if you are a rehabber or an experienced investor, I still want you to get an inspection! An inspector is a licensed and bonded professional whose job it is to find problems with a property that most investors are not looking for.To this day, I have yet to see an investor get into a crawl space, or an attic, looking for problems. This is what an inspector is paid to do and he may find very expensive problems that are not seen on the surface of a property.So, to you investors out there, is it worth it to spend $350 to find a $10,000 problem that you wouldn't have seen while doing your walk through? As an investor myself, I can say, without a doubt, the best thing I have ever done on some properties is to have an inspection done.I ... 08/28/2007

Everyone has had something in their life that they didn't expect to happen, and the same thing may have happened to you, to cause you to have to file for bankruptcy. But, that is no reason to keep beating yourself up and telling yourself you are not good enough to own a home.You are just as good as everyone else, and you CAN own a home! You just need someone with the experience to help you jump through some hoops to get that home for you. There are many options to getting a home after bankruptcy and some may even be as simple as calling a traditional mortgage broker.Another way for you to get into a home with a bankruptcy may be with Owner Financing or a lease option. Both options can get you in to a home as soon as next month, and it won't matter what your credit score is. In some case... 08/27/2007

When you purchase a home that the loan required to finance the purchase is more than $417,100, this is called a jumbo mortgage and is a higher risk to a bank. This means that a home requiring a jumbo mortgage also comes with higher interest rates.This $417,000 limit is set by Freddie Mac and Fannie Mae and, presently, with a down payment and great credit, the best interest rate you can get is 7.13% with no points according to bankrate.com. What does this mean to you, if you are selling your home?If you have a home that is valued at over $417,000, it means your pool of buyers is dropping everyday the interest rates climb. And if you own a home valued at over $417,000 and it is a non conforming home, such as a manufactured home on it's own land, then it will almost be impossible to find a... 08/26/2007

For the first time in Oregon’s history, the amount of wine consumption is actually comparable to beer consumption.  The wine industry in Oregon is growing in a big way and a lot of that has to do with getting the attention of the younger generation.  It is certainly about time with all the great wines we have locally. To help facilitate this new trend are a couple of national wine store franchises called WineStyles and Vino 100 going up in places like Beaverton and Hillsboro.  Now even the casual drinker is wanting a little education and these stores are helping disperse the snobbishness that previously kept people away.  They do this by streamlining the process of choosing a bottle of wine.  If you group your wines by flavor description instead of region then the less educated buyer w... 08/21/2007

Are you an investor that buys fixer properties for remodel and flip? Do you know the AVR (After Repair Value) prior to putting an offer in on a property? If you answered no to that, then your agent maybe doing a disservice to you and your real estate investment portfolio.When an investor of mine approaches me with a property that he is thinking about buying, or I approach him with a possible purchase, the first this I do is figure out the AVR.The reason I do this is because before we can even go look at a property we need to know what we can sell it for after it has been remodeled. If you see a property that is $50,000 under present market value and needs repairs, it may look like a great investment. But, after you look at it you see that it needs $75,000 to remodel it. You would be neg... 08/17/2007

Are you a buyer looking to purchase a home with RV Parking? Then please take note of this, it can cost you hundreds of dollars a month!You start your home search, you call your Realtor, and tell him exactly what you are looking for: a 4 bed / 2.5 baths, 1500 sq ft home with RV parking. So your Realtor starts sending you all the listings that meet your criteria. You see a home that is perfect, you go to look at it and you see gravel next to the house, but no RV is parked there. But, you see it can fit an RV.So you put your offer in, get your dream home, or so you think, and you bring your RV home. The next day you get a letter from the city saying you can't park an RV there. You think it is a mistake and you get a $100 fine two weeks later from the city for not moving your RV, from your ... 08/15/2007

Want to know how to find great homes, in great neighborhoods, at a GREAT PRICE? The secret maybe as simple as going home on a different side street everyday until you find what you are looking for.What are you looking for? An uncut lawn, newspapers stacked in the driveway, and just general disrepair. Many of these homes have just been abandoned do to death, divorce, or other life changing event.This is where talking to the neighbor can help you find out the details on a property that the owner may not want you to know. I have gotten many great deals on a property, just because I talked to the neighbor of one of these homes. If you have information on a property such as, they got a divorce and both parties have moved on, you can then approach the owners and offer them cash for the proper... 08/14/2007

Home owners unless you want someone else living with you that you may not be able to get rid of, by law, and then please cap your chimney.I came across a vacant home that one of my buyers was thinking about purchasing, and I heard something in the basement. It was coming from an old oil heater vent that went in to the chimney. Not only was the top of the chimney not capped, but neither was where the oil furnace vent entered into the chimney.When I took my flashlight and shined it into the hole, I couldn't see anything. But, when I shined my flashlight and took a picture, I saw all I needed to see. A family of birds had decided that was a good place to put a nest. There were signs that the birds had also made it in to the house, leaving who knows what kinds of diseases behind when they c... 08/09/2007

If you are investor, you need to really watch your loans and your credit very carefully or it can cost you, big time.Today one of my investors went to get a hard money loan for a 3 month investment flip when he was declined  After some investigation, he figured out that in February he had bought another investment property with a 5 year loan. The problem came when the loan was sold to another bank in March and they adjusted the rate. He had auto pay for a set amount through his bank, and after calling the bank he had corrected the problem, or so he thought. He saw on his credit report it showed him with a 120 day late payment! He had never paid the extra from the first month and they were still trying to collect, even though all future payments had been for the correct amount.The bank n... 08/02/2007

That question is completely up to you. I give my clients what I call the 65 tips to hitting a Grand Slam to getting your home sold fast and for top dollar. These are my basic, simple and inexpensive ways that you can get your home sold faster and for a higher amount than your neighbor might be able to.                                            This list contains the basic 55 home run hitting ideas and 10 more to get ideas that can make it a Grand Slam! Just some of the things that I have my clients agree to when they list with me.I will keep my front lawn neat and tidy, watering the lawn, keeping it trimmed, with no weeds and no brown grass.I will look at my front door. I realize that the buyer will get his first impression as he enters my home.I will clean out all closets and I will k... 07/31/2007

Hello All. This is my first blog entry, thank you for taking the time to read this. After researching many brokerages I am pleased to announce that I have joined The Sunset Group Realtors. The brokerage is nestled in The Murryhill Marketplace and was founded by Bruce and Teri Clark in 1985. Primarily it has been a leading property management company in the Beaverton Oregon area. In the last three months Teri hired a sales manager, Ernie Coufal, and the race is now on. Over the next few months, we expect the brokerage to grow from 12 brokers ( including 5 property managers ) to over 40 brokers. I am very excited and pleased to be the first Broker Ernie brought on. I look forward to the coming months, in helping my current clients and my future clients. Please visit my website at www.Brok... 07/27/2007

Well I'm starting to see more and more of these homes coming on the market. So what are these sellers doing to sell their ugly homes?                                           You got it! Wrapping a steak around the homes neck, so buyers and agents will even look at them.I've seen it all now, I think? From free satellite for a year, 1 year's HOA paid, willing to pay for a 3-2-1 buy down, and even the pay the buyers closing costs up to 4%. These are just the steaks for the buyers.The buyer's agents are getting free trips, cars and even 5% BAC, but we still hear that it is the price that sells the home. Are we still sure of that anymore? It could be, to some buyer, just the amount of the monthly payments could make it interesting.So do you use a steak to get buyers to look at your listings? 07/26/2007

I've been dealing with a seller recently that has been approached by one of these "We Buy Houses" people. The snake oil salesmen are back at it again with these people... Promising them the world!If you are in a situation that you need to sell your house be very careful and talk to a real estate agent that has dealt with a short sale and the loss mitigation department of the bank.Here is what they were promised and it was amazing to me. They were promised if they sell their home with a real estate agent that they would have to pay 7-10% and they would lose all that equity in their home, where as if they sold it to them, they wouldn't have to pay a cent.But, if you read the fine print of their paperwork, it states they negotiate with the bank to buy it from them for 70-75% of what it is ... 07/26/2007

Yesterday, for the second time in two weeks, I just shut my phone off to calls that were not from family. (My phone has that feature and I love it!)Well, back to the story. We had just signed on our new investment property that my family will be living in for the next year or so, when the song "The Cat's in the Cradle" came on the radio.I immediately drove to a park and for the next hour and a half we walked and played with our kids. Boy, it was nice not having the phone go off and I did have 5 messages though when I checked for messages. But, I had quality time with my kids and that can't be replaced.                                                                                    So what makes you stop and smell the roses?  07/17/2007

Thinking about having a garage sale? You might want to reconsider it. A garage sale is the perfect place for a thief to find out what kind of stuff you have in your home.                                                 Selling a TV? This would tell a thief, you just got a brand new one. These are the kind of things they look for. See a couple come to your garage sale? Watch for someone distracting you by asking questions, the other one might be taking your cash box.Crime is on the rise, keep yourself safe and be smart about what you tell a complete stranger.For more information on home safety, contact your local police or give me a call for your free home safety guide.   07/03/2007

Please don't criticize spelling or grammar in this post, 99% of all my blogs are proof read by my most wonderful wife Samantha, my true soul mate and I wanted this post to be a surprise. One without her help as a proof reader, but without her I still couldn't have written this blog.15 years ago almost to the day I hired my wife as an employee of mine. I owned a DJ company at that time and she was a female DJ and was looking for a break. She had called me and asked if I was hiring and I said "NO" and she hung up. A few days later a friend of mine told me that the girl was going to call again, and this time "I WAS GOING TO HIRE HER! I didn't have a choice if I wanted to live"You see our mutual friend had two jobs, one with me at one place and one with her at another. She later admitted to... 07/02/2007

A lot of my investor clients are in the high tech industry and do realize that they might not have a job tomorrow.                                              Are they worried though? Not really, because they have planned, saved and bought investment properties that are producing a positive cash flow every month.What are your plans for tomorrow? Call me and we can discuss your long term financial goals. We can stop you from worrying about tomorrow if you were let go today.  07/01/2007

No, I'm not giving you the bad pick-up line. I'm asking you about your yard. When you put up a sign in your front yard that says for sale, look at your yard! There could be a better for sale sign than the post with your agent's number on it.                                               Your yard is really the first thing a buyer sees and if you have 2 foot tall grass with a broken down car on it, what kind of sign is that to a potential buyer?To me as an agent it would say come look, the inside is just as crappy! I've had buyers in the car, we go to lookat a home and on the RMLS it says it was remodeled. Though when we pull up, we see the above described yard and my clients say "Let's go, no need to see the inside." What a waste of an expensive remodel, losing buyers, because you don't... 07/01/2007