Wednesday, 22 March 2017
Thursday, 5 January 2017
23:35 Posted by DCFawcett VREIC Dc Fawcett Guidelines, DC Fawcett Real Estate, Dc Fawcett Tips For Buyers No comments
Luxury real estate homes can be harder to sell than a normal home. Getting the right realtor and catching up on market trends will be really challenging. But, more than these, proving that you are a legal buyer will be like going through a big trial. Dc Fawcett shares tips on hitting on a hot luxury real estate deal in his blog – VREIC.
Keep your research perfect
Deep research is the first step towards procuring any hot real estate deal. The same goes for luxury real estate as well. Browse the web to learn about online marketing trends and determine what you want and what you don’t want. Then proceed with the real estate deal. Most realtors get their business through the web only.
Finish off the steps in the loan obtaining process prior to seeing the home. This is because
- The mortgage process for a luxury home is much more elaborate than for a normal home.
- Sellers insist on showing the home only to qualified buyers
This is why realtors insist you to obtain prior loan approval
Home inspection is very crucial
Of course, it is most vital for any real estate deal. But in the case of luxury homes, it is utmost crucial. Luxury homes have more complicated amenities
- Swimming pools
- Centralized vacuuming systems
- Fountain and ponds
- Interior and exterior fireplaces
- Complicated security systems
- Landscape lightingAnd so on.
Don’t go by photos
Pictures don’t essentially paint a true sketch of homes. They should be seen in person. So go and explore the various rooms of the prospective home in leisure. Take an expert real estate agent along with you for guidance on various aspects regarding the luxury home.
Part with details
Sellers want to feel secure as the deal here is big. They will ask for details like what you do for a living, down payment and your loan approval statement from the concerned bank. This way they are ensuring that you are a legitimate buyer and are well equipped to buy their home.
Hunt for a good realtor
It is better to go for a local real estate expert. He must know the area that you are going to buy in. He must possess sound knowledge about the neighborhood, like demographics, crime rates, developmental activities, market prices and so on. Test his knowledge before hiring. It had better be good since the target here is enormous.
Ensure that natural light comes in
You don’t want to be stuck up with a dark mansion as they sometimes show in the scary movies, do you? Then make sure that plenty of natural light flows in before you proceed with the buy. This may seem really trivial but is of utmost importance. Natural light promotes good health and a sound mind.
Dc Fawcett, a real estate mentor and speaker gives some amazing suggestions for luxury home buyers. Buyers are surely at an advantage if they follow these. Some people have written various complaints on Dc Fawcett in some blogs. All these are just scandals and must be disregarded entirely.
Monday, 2 January 2017
23:24 Posted by DCFawcett VREIC DC Fawcett Real Estate, Successful Real Estate Investment Deal, Virtual Real Estate Investing Club No comments
The actual process of purchasing a residence takes some time. When you purchase a residence, you may find it easy to close the deal in a couple of days. This is the case if there are no contingencies or cash. Majority of the people do not purchase a residence with cash, and they would like the home to be looking good. For buyers, it may take 30 to 60 days to finish the process of purchasing a house. In the vicinity of Colorado, it takes about 45 days to complete a deal. This is due to the fact that there are postponements caused by very slow appraisals. Each and every state has got various deadlines regarding the time it consumes to finish the sale of a residence that is dependent on the local process and appraisers.
The speediest way to purchase a residence
The case might be that the buyer has cash and is prepared to buy a residence today. But, it takes considerable time to close a deal. The purchaser will require to be sure that he or she acquires the clear title to the house that requires the title company or attorney to give title insurance. The speediest title insurance can be purchased in a few days. There must be a closing time and if there is a loan related to the property, the bank should be approached for a payoff. Actually, it takes a minimum of a week to close the deal on a property with cash and with no eventualities.
The time it takes for contract contingencies to add to the time of buying a house
When you purchase a house, often, you have to clear all the contingencies except for a clear title. Clear title will assure that you are not purchasing a residence with 100, 000 judgment that one does not have much knowledge. You could be a keen buyer and would be purchasing houses professionally for more than a decade. Most of the purchasers will require doing an inspection, will possess appraisal contingencies, and loan contingencies.
Inspection contingencies can cover a span of time of 3 to 20 days. Majority of the inspection contingencies cover a time of 7 to 14 days. When the inspection is brief, it is more viable for the seller due to the fact that if there is a difficulty they will not waste time before they could retain the residence in the market. The one option for purchasers to make the offer alluring to the seller is to reduce the period of inspection. Once the time for inspection contingency is over, there is additional time needed for negotiating any difficulties found at the time of inspection. If an inspection is required, the immediate way you can buy a house would be about two weeks.
The time it takes to buy a home when loan factor exists
The huge delay caused in buying a house is acquiring a loan. Some years ago, one could have observed loans closing in a period of 30 days. But, there is a vast change in scenario in Colorado and across the nation. Fresh laws were implemented that needed more disclosures from lenders, and it takes more time. This was actually needed to shield the consumers, but it caused delays in the process of purchasing a house. If the purchaser is acquiring a loan, it almost always demands 35 days to close. In some places, when there is lack of appraisers, it needs more time.
Speeding up the process of purchasing the house
In the city of Colorado, the appraisal requires 3 to 4 weeks and it takes longer time for properties that are in the suburbs. It is very important that once a contract is acquired on a house, the lender demands the appraisals very soon. If the lender is on the wait for a couple of weeks, the actual process may demand more time. How soon an appraisal can be completed depend on the vicinity that one is residing in. In few places in the country, it will take only some days. But in the vicinity of Portland it requires two months to have an appraisal completed.
The final note
The time it demands to purchase a property also differs in different states, and it is clearly based on local practices. In New York, transactions with regard to real estate are closed with the help of an attorney. The process of contract also varies when taking into account the other states. It may take months to finish a deal when everything progresses perfectly. One has to make sure that he asks the lender or real estate agent how it goes about and the time it demands.
Monday, 21 November 2016
05:29 Posted by DCFawcett VREIC DC Fawcett Real Estate, Real Estate flipping houses, Virtual Real Estate Investing Club No comments
DC Fawcett Real Estate Tips
Money earned by means of real estate flipping houses drastically changes everyone’s lives. For some, it is their profession and for others, it is a hobby. However, if you are making your career in this endeavor, it is the surest way of earning a steady income. A person can earn without going anywhere near the office or industrial park. Even if a person works for the entire month, their income does not match with real estate income. DC Fawcett warns against the bad investment or money invested in wrong areas which results in huge losses.
Mistakes made when flipping a house
1. Paying more than actual price–The purpose for doing house flipping business is to make profits. However, when you pay more than the actual price and fail to negotiate, at the time of buying it, the profit reduces when you sell them. To turn it into real profit, one needs to study the real estate market. A lot of research has to be made before buying the property such as comparing at what price your neighbor had brought.
2. Excess Investment
Another common misstate is investing too much money for personal finances. Even if the property is purchased at the said price, you lose out on your savings. Instead of that if you go for loans, there person need not repay the entire amount in one go.
3. Incorrect cost estimationAfter getting financial assistance, make sure that project lasts long as you would need a good budget to cover for the renovations and little left over for contingencies.
4. Leaving important upgradesThere is a saying that one should be shrewd with respect to money matters. However, keeping this thing in mind, people tend to go in for cheaper options, though certain upgrades cannot be ignored. The buyers focus on kitchen, bathroom and master suite. At the most, you can reduce the cost on stops on these rooms.
5. Neighborhood IgnoranceNeighborhood awareness plays a very important role in house flipping. If your house is surrounded with ugly houses & surroundings, flipping becomes difficult.
6. Getting into the deal without house flipping teamThough, it is possible to do it independently, having a team is even better to guide you when you are new in this line. You can trust
a. Real estate attorneys
b. Certified public accountants
c. General Contractors
d. Real estate agents
7. Fear due to bad experiences in this endeavorMany fear to go from house flipping either due to bad experience because of becoming a scam victim or getting nervous at the time of purchase. However, one should overcome the fear and change their mindset.
8. Poor planningThough you get innovative things in your mind, you need to chalk out the plan and get ideas about different types of renovations, budget and schedule. Lack of planning postpones the renovation which makes you lose more money.
There are many more mistakes that are being committed which when mentioned becomes a long essay.
Monday, 14 November 2016
02:01 Posted by DCFawcett VREIC DC Fawcett Real Estate, Successful Real Estate Investment Deal No comments
In spite of commercial real estate values dropping down during crisis, there has been a steady increase in the number of investors planning to invest in commercial real estate. So here are 7 steps for you to find a good commercial real estate deal as reviewed by DC Fawcett.
Step 1: Research thoroughly
Know the ins and outs of the commercial real estate industry. Commercial real estate industry calls for more incoming of money. The inflow of cash resulting from office spaces, retail spaces, it parks, malls, shopping complexes, hotels and multi residential complexes is obviously enormous as compared to single residential complexes. Also leases for commercial complexes are longer than for residential homes. Multi residential homes often have leases for one year and office and retail spaces for a period of 5 years. You need to have some good hot cash to lay down before you buy a commercial property.
Step 2: Set parameters
You need to have a plan. Chalk a plan comprising of answers to questions like how much can I pay? How much will I profit? How to maintain a balance between obtaining maximum rent and keeping the vacancies and tenant turnover minimum? And so on. Commercial real estate agencies can help you to come up with a fine plan as they often advise on these lines. Their specialized knowledge on commercial real estate which varies from city to city, state to state and suburb to suburb can come in handy.
Step 3: Keep yourself sharp to identify the most lucrative deals
You must keep yourself informed and updated about various real estate commercial strategies which will ensure to get you the best or at least a safe deal. You must assess the various risks involved like damages that can occur, cost of repairs and also make sure that the deal meets your financial targets. Know to
Step 4: Learn about commercial real estate metrics
Some of the metrics are
· Net operating income : the gross operating income for first year minus operating expenses for the first year
· Cap Rate – to find the value of income producing properties
· Cash on cash : formula which helps investors to decide their principal investment based on the comparison of first year performance of rival properties
Step 5: Target sellers who will let you make the best of the deal
Aim at finding sellers who are willing to negotiate the property prices. They must be ready to sell below the market value.
Step 6: Make a thorough study of the demographics of your neighborhood
Do this to estimate the price of commercial real estate and its demand in that area. Factors such as age, race, gender, vacancies, migration, population etc comprise the demographics of an area. They can influence real estate crucially.
Step 7: Be open to sources of information
Browse the web, read classified ads and use real estate agents to keep your information bureau updated. Real estate agents often give you the best of information about deals. You could plan strategically to hit the best deal.
Thursday, 10 November 2016
22:07 Posted by DCFawcett VREIC DC Fawcett Real Estate, Virtual Real Estate Investing Club, Virtual Wholesaling No comments
There are quite a few reasons why you should start out with wholesaling when it comes to real estate . The foremost thing about this concept is the easiness tagged to it, meaning it is very simple and easy to start. Requiring no cash in your bank account, you don’t need to have a good credit score neither, money for repairs on a property, you don’t even have to be concerned about getting wedged with a property, or worrying about dealing with financial institutions and getting the approval of short sales. The best part about virtual real estate wholesaling is that the investor can broaden his/her efforts across multiple markets, which will capitalize on their potential return on investment. The virtual wholesaling real estate strategy includes Short sales, REOs, Commercial and several another type of real estate as well.
Quite a few reasons can be listed as of why an investor would choose for virtual wholesaling of real estate, but better markets, less competition, and diversification are a few to mention. Let us look in detail given by DC Fawcett. The local market might be profoundly saturated, while the other markets may present better scope for real estate wholesaling. When compared with competitive analysis, lucrative markets create a center of attention to many investors and speculators. With that said, other areas may be undiscovered & undervalued; this helps in offering better possibilities and less competition. Allocating capital in a way that trims downs the revelation to any one particular asset or risk; certain areas might offer more of one type of real estate, preventing diversification. You might have buyers attracted in mobile home parks, if the local vicinity does not present a lot of opportunities, mounting into other markets might be the best way out.
In view of the fact that, different markets have different up & down swings, it is the supply and demand that decides things irrespective of the market types, and it is for this reason why every investor needs to be informed and be clued up on the different markets. With that said, the same scenario in your local market may not apply elsewhere; hence it is wise to good knowledge about the market. Virtual Wholesaling of real estate allows the savvy investor, to invest, where they can take delivery of the highest return on their investment.
If you wanted to get the most out of virtual wholesaling then you should consider inculcating DC Fawcett Virtual Wholesaling strategies. Following are some of the advantages you will discover:
• An effective yet simple method for generating a deal-hungry buyer list in 7 days or less
• Finding hidden deals in a competitive market that others can’t find
• The easiest method to get hold of instant properties to sell to your buyers
• Generate more leads than you can handle, ultimately resulting in more income.
• The secret purchaser nature all wholesalers are neglecting that shell out more than all other buyers and much more…
Wednesday, 2 November 2016
05:20 Posted by DCFawcett VREIC DC Fawcett Real Estate, Virtual Real Estate Investing Club, Virtual Wholesaling No comments
Virtual Wholesaling is art of making money from flipping properties without ever owning them. Most of the time, these are ugly properties we refer to as wholesale properties. Wholesale properties don’t need to be ugly properties. Many times we wholesale pretty properties that need little to zero work.
The virtual aspect of virtual wholesaling comes into play because you can do this business from home or wherever you want. Maybe you like to sit by the pool, or at the beach, or on vacation with your family. You never need to physically touch or visit the property you work with. Everything is done on your computer over the Internet.
You never need to put any money at risk or use your credit. Your credit score and the amount of capital you have does NOT matter. You don’t need any special licenses or even a real estate license. This makes Virtual Wholesaling the Easiest way for new investors to get started in real estate investing by virtually flipping wholesale properties
We have many members that were dead broke with terrible credit and were able to be successful with virtual wholesaling using the Virtual Wholesaling Cheat Sheet along with the training and tools we provide to help you get started with Virtual Wholesaling and also know about the House Flipping .