(Re)Considering Rehabbing:
by Bob Kmosko
Whether it’s new to you or you‘ve done it before, seller-financed rehabbing in today’s market is a smart way to expand your business
Whether or not you’ve ever been involved in a rehab, now’s the perfect time to cash in on the benefits. In an economy where work is slow and competition fierce, rehabbing provides the potential to build your business today and implement a long-term vision for the future. Here are some very good reasons to consider it:
1. Relies Less On New Customers: If work is slow, no need to fret about estimates and quotes to get that next job. You’ll already have a project to work on at your own pace. And if you have employees, why pay them to sit around? Send them to work at your project house.
2. Turns Downtime Into Potential Profits: You’ve worked on jobs that have improved your customer’s kitchens, bathrooms, etc. And , yes, these jobs have provided you with a good paycheck. But all of those improvements have added value to your customers’ properties, all due to your hard labor. Why not work to earn that equity for yourself?
3. Takes Advantage Of the Current Buyers’ Market and Flexible Financing: Again, in today’s real estate market, we all need to be flexible to turn a profit. That includes sellers. If they’re motivated, they’ll be willing to work out financing terms you can handle.
4. Increases Options with Multiple Exit Strategies: A rehab gives you a number of ways to dispense with a property. You can do a straight out sale, a lease option, or a rental. In any case, if you find one at the right price, you can potentially pay it off quickly, own it free and clear, and get a fast lump sum, or continue to receive monthly payments.
We all know that dealing with the banks today and conventional financing is an iffy proposition. Why not try a rehab and be ready for a sale just in time for the market’s recovery? TK Homes is looking for projects that can be mutually beneficial. If you think you have one, give us a call or drop us an e-mail.
Bob Kmosko
TKHomes 828-461-4813, realpro2010@gmail.com
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How To Obtain 100K in Business Funding in 45 Days No Personal Guarantee
1. Incorporate your business. In order to take advantage of corporate credit opportunities, you need to establish your business as a corporation.Free Credit Repair Consultation! Fix Credit Score. (Fast & Legal).
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* Business owners have several choices when it comes to structuring a business, so you may want to talk with a lawyer on which corporate structure works best for your business.
* File for a Tax ID Number (EIN).
o To establish your personal credit, companies rely on your social security number. By using an EIN number, you can use it in place of your social security number, which helps you begin to build corporate credit.
2.
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Build your corporate credit on your own by finding vendors to work with.
* Many vendors offer Net-30 terms or other payment terms for established clients. Once you open an account with a vendor, you may be able to get credit by providing the vendor with a list of references from people or business associates who can recommend you as credit worthy.
3.
3
Establish banking and credit card accounts for your business.
* By separating your business and personal banking accounts, you begin to build a business relationship with your banking institutions. This can help you once you decide you want to apply for funding through your corporation.
* Most credit card companies offer business accounts. As you build corporate credit, your credit limit should increase and your interest rate should decrease.
4.
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Work with a company to establish your business credit.
* There are many companies that specialize in helping businesses build corporate credit. These companies will often accept information from trade references in order to extend you credit without personal guarantees. In addition to this, credit building companies understand all the ins and outs of establishing business credit, and they can help you ensure you have all the items necessary to start your business portfolio.
* Most credit building companies partner with lending businesses that are willing to help you establish your business credit.
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Memphis Investment Hot Spot!
Memphis is one of the most undervalued markets throughout all of the country. Knowing that over 45% of the population rents, the city has become an attractive destination for investors seeking stable appreciation with positive cash flow. With the tremendous tax advantages associated with real estate, the opportunity Memphis has to offer is second to none. The main difference between the Memphis real estate market and other cities across the country is that here in Memphis you can buy a property in the $50,000 range that will rent for $1,000 per month and appraise for $90,000. Not only does this mean positive cash flow, but it also shows the tremendous opportunity the Memphis real estate investing market has to offer.
The following are from the Urban Land Institute’s presentation of Emerging Trends for Real Estate in 2009 here in Memphis, which pointed out several facts Memphis Invest has known about the residential investment market in Memphis and real estate investors for several years.
* Memphis continues on a steady growth cycle in both job creation, new development and property value. The metropolitan area does not take wild rises or dips in these areas – just fairly steady growth and slight dips.
* Memphis is home to some of the country´s great corporations including, Federal Express, Autozone, Medtronic and International Paper. It´s central location also makes Memphis a great business hub for many small to medium sized companies. It´s easy access to rail lines, ports and world class airport make it the distribution capital of the country which means a continued supply of quality jobs.
* Memphis ranks as one of the top “affordable” cities to live in in the country with the suburb of Bartlett, TN. recently being ranked as one of the top 100 suburbs in America. The cost of housing ranks among the most affordable in the nation and well below national average.
* Vacancy rates continue to stay below the national average, while the percentage of Memphians renting their dwelling continues to eclipse the national average by almost 90%. With over 45% of the cities population renting, the opportunity to keep an investment property occupied with a quality tenant remains high.
* Top 10 of 50 best major metro areas for starting or growing a business – Inc Magazine
* #16 of “America’s Top 50 Hottest Cities” – Expansion Management Magazine
* Top Ten Hottest US Markets for Mortgage Lenders – Mortgage Bankers Association
* Top Ten Cities to Invest in Real Estate – Business 2.0
* One of Five Great Places to Retire – AARP
* #1 on Home affordable housing for retires – CNN Money Magazine
* 2nd Most Undervalued Market in the Nation with 20% of houses selling for less than their fair market value and Houses in Memphis selling for 28% less than the national – Richard Dekaser, National City Corp.
* 17th Largest City in United States
* 1.2 million residents in Metro Area
* 680,000 Residents in Memphis
* Home to busiest cargo airport in the world
* FedEx Global World Hub – 30,000 employees
* 3rd largest railroad center in U.S.
* More trucking companies based here than anywhere in the Nation
* One of only 4 major cities the new I-69 Interstate (Canada to Mexico) will pass through
* Major shipping port for barge traffic
* Continued Expansion of Memphis as a Major Medical HUB for U.S.
o St. Jude Children’s Research Center,
o UT Medical SchoolLeBohneur Children’s Hospital,
o Methodist University Hospital,
o Memphis Biotech Research Park – Currently under construction
o MedTech Headquarters & Research facility
* Overall cost of living is 10% below the national average
* No state income tax
* 45% of the population rents compared to the national average – of 28%
* 5 Year appreciation 18.76%
* No major swings in pricing Up or Down
* 9th most foreclosures with 1 in 49 homes foreclosing – Realty Trac
Memphis continues to be a hotbed for real estate investing. Many out-of-state investors are finding Memphis a very attractive alternative to investment real estate in their home states.
If you would like more information on investments in Memphis, TN register at http://acfhomebuyers.com
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IN CASE YOU MISSED IT, MEMPHIS!
In case you missed it, Memphis has been named not only as one of the most affordable markets for home purchases today, but it has also been mentioned as one of the only markets expected to see positive appreciation in 2010. Now, the appreciation is expected only reach 1.5%, but hey….anything positive right now is better than the alternative!
Memphis is highly undervalued real estate market right now as far as property values are concerned – 21% under value in fact! Those are only a couple of the factors that are making Memphis, TN. a highly attractive real estate investment alternative. Take a look at some other facts and figures that are playing into the market set-up today.
1. Memphis’ Median Home Value fell to $99,965. VERY AFFORDABLE!
2. Memphis is 21% undervalue entering 2010.
3. The over-all consensus is that Memphis will continue to see opportunity for investors as home prices remain below value. A second wave of foreclosures will keep the supply side high and pricing for investors well below value in 2010.
4. Over 48% of the SFH in Memphis are rental properties. Unlike other similar markets, Memphis is a stabilized rental city where a majority of the single-family residences are non-owner occupied rental units. There are more renters than owners in the city of Memphis and not enough properties of higher quality.
5. Mortgage rates are expected to climb to an average above 6.25% by year end which remains HISTORICALLY low even after the climb!
6. With the Memphis job market predicted to see growth in the supply, defense, medical, staffing and distribution fields, demand for Memphis rental housing should continue to be strong.
7. Analysts believe job market will stabilize with unemployment around 6%-8% for Memphis.
In my opinion, 2010 will be another fantastic year for investors who choose toinvest in Memphis real estate market. There are so many unique circumstances which combine to make Memphis a “gold mine” city for investors. I believe that it will take years (3-5) best guess for the Memphis real estate market to turn around. This is actually a very positive step for investors looking to buyMemphis investment property.
There will be several more years of depressed pricing and an ever increasing demand for quality housing to be provided. When the housing crisis begins to abate, we should see Memphis property values return to normal levels very quickly and investors who purchased today at 80% of current value, will suddenly find themselves with 40%-50% equity. As the economy turns around, not only will values go up, but so will rent rates as supply declines and demand remains. All of this leads to a bright future for any investor who is purchasing properties for investment in Memphis today.
REGISTER AT www.acfhomebuyer.com to get advance notice of deals before they hit our buyers list.
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MEMPHIS INVESTMENT DEALS!
I HAVE PROPERTIES IN MEMPHIS, TN available. We can have them turn-key with rehab complete, property management and tenants in place or just wholesale to you. Let me know what you are looking for we have many properties available.
Victoria O'Hare http://acfhomebuyers.com 530-693-2017
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investor
heres a property i have for sell needs tlc about 15to 20 k work property is in 1755 oakmead dr concord ca 94520 asking 210k worth 294k
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Untitled
Are there any investors in the coastal counties of Ms. interested in getting together and creating a local REIA that meets on a regular basis to network if so contact me swaltman@wildblue.net
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Consumer Goods
Looking for the HOTTEST and UP to date Items on line.Let me know what you think http://maximumforce.fastdeals.us
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