Archive for August 18th, 2009

Lakefront rental houses

Renting Your Big Bear Lake Ca Home « Big Bear Lake, CA Homes For Sale
Tags: big bear ca property, big bear california property, big bear lake property, big bear lake property for, big bear properties, big bear property, big bear property for, big bear property rentals, big bear rental property, property in big bear, … Unless your cabin is a lakefront or right next to the slopes, the odds are it is not going to rent enough to actually turn a profit. Most rentals make just enough money to pay the property taxes and a few mortgage payments. …  read more…

CHICAGO GUEST HOUSE ON LAKEWOOD AVENUE-4 Blocks From Wrigley Field …
Chicago Guest House offers the Wrigley Suite; a 4 bedroom, 2 bath vacation rental set within an historic greystone building in Chicago. Nowhere Will You Feel More At Home! Located in the heart of the Southport Corridor of … Walk to restaurants, boutiques, galleries, theaters, grocery and wine shops, Wrigley Field(Cubs games), and the lakefront–everything you need. And getting around the city couldn’t be easier. You can find a taxi on practically every corner and the El …  read more…

NEWPORT GUEST HOUSE VACATION RENTAL (Chicago/Lakeview) 3bd …
NEWPORT GUEST HOUSE VACATION RENTAL (Chicago/Lakeview) 3bd. August 18, 2009. Filed under Vacation Rentals. The Chicago Guest House on Newport Clarke Suite offers 3 bedrooms and 2 baths. The suite is set within an historic Greystone home … Walk to restaurants, boutiques, galleries, theaters, grocery and wine shops, Wrigley Field (Cubs games), and the lakefront–everything you need. And getting around the city couldn’t be easier. You can find a taxi on practically every …  read more…

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Chicago Real Estate
Chicago the windy city has the largest population in the state of Illinois. If you are looking for Chicago Real Estate, you need…  read more…

Hello from Toronto: A Bike Tour through the Don Valley, Leaside, Salsa on St. Clair and Sunnyside Beach
My summery biking adventures through Toronto continue. This morning I packed my backpack and as usual I entered the Taylor Creek Park system. Heading down into the lush green river valley that is ful…  read more…

Make Money With Condo Rentals
What are the advantages of investing in condo rentals versus houses? Simplified maintenance, and more cash flow in some areas. The catch? Some condominium complexes won’t allow you to rent out…  read more…

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Resolved Question: Good vacation rental on Lake Travis?
Has anyone stayed at a vacation rental (house!) on Lake Travis in Austin, TX? The lake is huge & we’re looking for a great lakefront spot with a beach area, not a deep dropoff – our kids are not good swimmers. Thanks in advance!

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Resolved Question: Anyone know of a beach vacation rental around $600 for the week on the east coast?
I have a newborn and I’m thinking of taking her to a beach this summer when she’s seven or eight months old. My husband and I have previously stayed in houses in Florida and North Carolina that rent for about $600 for the week, but I don’t want to travel that far with the baby- I’m thinking something like an 8 hour drive. So that leaves Ohio (on the lakefront) New England, New York, and as far south as Virginia, no further.

I’m hoping someone here will know of a good location- the best spots are usually ones other people can tell you about, rather than researching them online for yourself! I don’t want to spend more than $600, which I know is doable if I find the right place!

Thanks in advance for your suggestions!
Kapn- I have stayed in beach houses for that price, so I know they exist. It’s a matter of hunting one down.

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No Credit Check Payday Loans

No credit check loans are easier than one may think to obtain. For those of you with bad credit this may be the only type of loan that you will be able to get. You can get no credit check loans and rebuild your credit at the same time by paying it one time, every time. With these types of loans, bad credit does not affect your chances of getting the loan, nor does it hurt your credit rating as most of the time they are not reported to the credit agencies. These types of unsecured loans are a great way of getting your credit re-established.

Similar to other forms of lending, applying for no credit check loans will require the applicant to go through a process of assessment. This involves providing evidence that proves certain criteria be met in order to get the loan approved. This will including having a current checking account, providing proof of current and past income and earnings plus status of current residency. If these criteria can be met then the process can be fairly straightforward, for this reason this method of borrowing has become known as – easy loans.

A variation of no credit check borrowing is where the money is loaned over a very short period typically 14days until the borrower’s next payday hence why they are called ‘cash to payday loans’. Prior to agreeing and signing for a loan, the lender should explain the credit terms including the interest rates and charges. You will also be required to have a current checking account so that when the agreed loan payments are due they will be deducted from your bank account after you have been paid your next paycheck. This type of loan is a short term solution best suited to an unforeseen cash flow problem and should not been seen as a long term solution to money problems.

For people with a bad credit history, no credit check loans are a realistic option for borrowing cash. Sourcing a suitable type of borrowing method and lender is not such a difficult task, despite there being many types and options available.

Banks that are prepared to lend you the money will charge high rates of interest and you will be tied to them for the duration of the loan, with them having the powers to deduct repayments from your paycheck if you don’t keep up with the loan repayment. So you may contemplate borrowing from cash advance companies and paycheck loan companies.

No credit check student loans are also an option open to students without any credit history. Typically this type of loan comes with a higher interest rate and requirement of no credit check student loans would typically involve having a cosigner being included in the agreement should the applicant not meet the repayments. They can be used where cash is required for circumstances that are not covered by grants or when other forms of funding are not available. Such circumstances might include the purchase of equipment and reading materials.

Loans for tenants also come into the category of no credit check loans. They can be used to make rent payments when the tenant finds themselves with a temporary cash flow problem. It is similar to a short term cash advance involved with payday loans which are required to be paid off in a small period of time without accruing large amounts of interest.

No credit check loans are quick and quite easy to obtain. You will have to furnish certain information and make sure to make your payments on time. There are tons of great places that a person could check into when it comes to these types of loans. Just take your time and research different companies before making your choice.

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What Is A 1031 Exchange In Plain English?

Many people have no idea what a 1031 exchange is, but hear of it when it comes time to sell off property. This article is intended for those people. I have written this in the simplest way that I can so that it can be understood by all.

First, to understand what a 1031 exchange is, you should understand the purpose behind it. The whole concept behind a 1031 exchange is to defer some taxes (capital gains tax) from the sale of that property, when you plan to invest the profits from that sale directly into another property. People do this so that they do not lose any equity in the transition from one property to another.

Now that you understand the reason for a 1031 exchange let’s talk about the workings of a 1031 exchange. To get started, you will need to hire a professional QI (Qualified Intermediary). It is required by the law. These are companies that are an independent 3rd party whose job it is to make sure that you follow the rules. They also hold the gain from the sale of the original property until you reinvest it into the replacement property.

Next, there are some rules about what can and cannot qualify for a 1031 exchange. First, remember that we are discussing property. This cannot be done with anything but investment properties. However, that can be widely defined to mean single family rental units, multi-family rental units, office buildings, storage facilities, raw land, retail shopping centers, and industrial facilities.

Second, the major qualifier is that the properties are of like kind. Like kind refers to the similar nature or characters of properties, not the grade or the quality. They (referring to all properties involved) also must also be held for productive use in trade or business. Another viable option is if they are held for investment purposes.

There are a lot of other specific rules that the IRS has for this kind of exchange and that is likely why they require anyone who does this to use a qualified professional trained in this. However, there are some general guidelines that you should be able to understand and may help guide you in your decisions on your plans for investments if you are looking into this.

1- The value of the new property must be of equal or greater value than the one you are selling. 2- The equity of the new property must also be of equal or greater value than the one you are selling. 3- The debt on the new property must be equal or greater to the debt on the property that you are selling. 4- ALL of the net profits from the property that you are selling must be used to acquire the new property.

There are also some timeline issues that you will want to be aware of. First, in order to successfully qualify for a 1031 exchange, you will need to identify a new property by the 45th calendar day from the time of the closing on the relinquished property. (There are guidelines about that too – see a professional) Second, you need to close on the new property by the 180th calendar day from the time of the closing on the relinquished property. Hopefully this helps. Please call a professional when you are getting ready to consider a 1031 exchange.

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A Professional Image Will Help Rent Your Home Out Quicker

Owners often come to me when they have problems finding a tenant for their home. The problem is not always a soft market. Sometimes, the problem is what I like to call the “first impression”.

First impressions are not just important when dating, or going for a job interview. First impressions are important for a variety of activities including finding a tenant for your rental home.

The first impression is the most important thing when renting out your home to a complete stranger.

Remember, your rental property isn’t the only one on the market. Your prospect has many options. You’re competing for the best renters with every other owner in the area that has a vacant rental property. You need to make a good first impression and you want to stand above your competition.

A professional attitude is what you need. A professional attitude make a great first impression because it says to your prospect that you will be able to meet their needs in a professional manner when a problem arises. But it is more than that. A professional first impression says that you are competent at what you are doing. This kind of professional attitude is what most property management companies have over owners who manage their own property.

A good first impression would be to return your prospects phone calls as quickly as humanly possible. This is a big mistake I see self managing owners make. It is a huge red flag to your prospect when they can’t reach you. The first thing they think is if it is this hard to reach you now, what is it going to be like trying to reach you when they have a problem with their air conditioning or heating or a variety of other issues. A hot lead will usually call just once, maybe twice, before giving up on you and moving on to your competition.

Always have your paperwork ready. Your rental application and rental contract should always be carried on you. A huge error is to not bring your paperwork with you and when the prospect is emotionally attached to your property and ready to fill out a rental application the worst thing you can say is, “Uh… I forgot to bring the rental application with me. I will call you back later when I find it.” This is a great way to lose a potential tenant. You will call him back later, but he will not return your call because he has called one of your competitors.

Giving off a professional first impression is key. You do this by returning potential renters calls as fast as you can. Make the potential renter feel important. When you show your rental house, make sure you are wearing professional looking clothes. Make sure you are organized. Have your renters application and rental agreement with you.

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Simple Marketing For Realtors That Are Effective

Billboards, news print advertisements, billboards, and television and radio commercials are the most common forms of marketing that Realtors turn to when it comes to their overall marketing strategy. However, in this day and age it is dire that creative marketing for Realtors is turned to in order to produce the results that a real estate agent or company desires to have.

One of the most important forms of marketing that a Realtor can turn to is Internet Marketing. In fact, it has been determined that Internet Marketing for Realtors is by and far the most useful and effective means of marketing that a Realtor can turn to. Additionally, it has been proven that virtual marketing is by and far the most effective form of marketing for Realtors.

A website that is easy to navigate and contains the information that home searchers are looking for is vitally important. Websites are the most turned to resource when an individual is searching for a new home. If your website is lacking the information and details that they need in order to shop for a property, then you will fail when it comes to online marketing.

Many real estate companies will simply list the addresses of properties that they have for rent or sale on their website. This then requires home searchers to actually leave their homes in order to check out the properties. Proper Internet Marketing should allow these searchers to find and see everything they need on your website. Your website should allow them to take virtual tours with photos and videos.

Many Realtors have started to take advantage of video sharing websites such as YouTube. You can create short video tours of each of your properties and load them to YouTube. This type of marketing does not cost a single penny. Visitors to your website can then check out all your properties from the comfort of their homes. This will also save you from wasting time in showing multiple properties.

The use of simple flyers with property listings and general real estate information have been proven to be more effective than simple newspaper ads and text property listings. In fact, a Realtor is 56% more likely to make a sale from flyer circulation than from simple newspaper advertisements. However, many Realtors feel that they are “above” this type of marketing.

There is no denying that creativity in marketing is by and far the best method of marketing. The more creative you get the better results that you will produce. The public has become so used to general advertising ploys that you will have to seriously begin thinking outside of the box in order to produce the results that you desire.

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Finding Property Takes Time And Research

Real estate investing is a tempting proposition these days. With so many great deals out there, how do you know if you should invest in a property? Real estate evaluation can be tricky.

While it is true that you can make money by investing in real estate, it does take time, money and know-how to do it. Here are some property tips to keep in mind.

First of all determine what kind of property you want: commercial or residential. If it’s residential, will you use it as your primary residence, a secondary residence or a rental property? Also, as they say in the real-estate industry, the most important thing to consider is “location, location, location.” Where do you want your new property to be?

Finding property can be fun. A lot of the legwork you can do on the Internet. You can find property listings with pictures and all the information you may need. If you want to invest in more than one parcel, consider purchasing access to a multi-list service (MLS), but be advised that, depending on local regulations, you may need to be a licensed real-estate professional.

You can easily spend hours, days or weeks checking out the listings, but you should not buy a property without stepping away from the computer and going to look at individual sites. As you visit each one, be sure to notice the surrounding neighborhood. Are other properties in good repair? Do you see a lot of “For Sale” signs? If you are really interested in a particular area, take the time to visit briefly with some of the residents. Are there any major problems in the area? Read the local newspaper: does the area seem to be on the rise?

If there is a specific parcel you are interested in, talking to a neighbor may help you find out about problems. The neighbor could tell if the property ever becomes flooded or if he or she often sees repair trucks on the site.

Be sure to visit the parcel itself several times, at different times of day and in different weather. Go when it’s raining and you may find out about a leaky roof or basement. Going on a weekend night will tell you if the neighbors are noisy. Going in the winter will tell you if the furnace works properly.

Unless you are a real estate professional, be sure to hire an inspector before you buy a property. The inspector will list all the major and minor problems he or she finds. Of course, do some inspecting yourself as, unfortunately, not all inspectors are honest.

When you find flaws, do not consider them to be “deal killers”. Instead use them as bargaining chips to drive down the selling price. The owner may be willing to reduce the price if you offer to pick up the cost on some repairs.

When all is said and done, real-estate investing takes a bit of effort. However, if you do your research, both online and onsite, you can get a great return on your investment.

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Bad Credit Mortgage Refinance Guide

People with bad credit who are looking to refinance their mortgage should not think it isn’t possible due to their adverse credit because despite the economic outlook there are still lenders with who bad credit mortgage refinance is still an option. There are companies with refinancing possibilities available to homeowners with a bad credit history. They will provide you with the available options to refinancing your mortgage.

With bad credit your options are limited when compared to having a good credit rating as there are many lenders that are closing the door to homeowners looking to refinance with bad credit history. But some specialist lenders will deal with homeowners with bad credit and help identify options to refinance with bad credit. It might take more effort but it still remains a real option.

Any type of loan, with bad credit will have a higher interest rate along with higher closing fees compared what you could get for having good credit. You may even have what is called a pre-payment penalty that could last up to three years and a large amount of interest that you may have to pay for a couple months before being able to pay off the loan.

Homeowners with bad credit can be helped by these companies to source and make loan applications with an improved outlook in getting the refinance approved. With thorough research lenders can be identified to remortgage or purchase the property, and if care is taken when deciding on the options available the repayments can be decreased by a considerable amount over the duration of the loan. The more affordable payments will mean that because success in meeting the repayments is more likely which may result in the homeowners credit ratings improving and with the chance of interests rate on the loan be reduced further improving the burden on the individual.

Just like any other loan that you apply for, the borrower is going to be looking at your credit report along with many other things that you must have documentation on. They will be looking at your employment history, your income or incomes and the amount of debt that you are currently in. You should make sure to keep pay stubs to prove your income, and deposit slips or bank information. You should also make sure that your credit score is accurate and everything on your credit report is correct. Even when doing a bad credit refinance requires your credit score to be accurate.

Because you are refinancing with bad credit the money lender will want to reduce their risk and will require a larger deposit on the mortgage refinance. Normally a mortgage down payment would be approximately 10% but with bad credit and the deposit will be somewhere in the region of 25%. And so for this reason the lender will want to know how much money you have available when applying for the mortgage refinance. The worse your credit score is the more money that will be required to successfully make the bad credit mortgage refinance.

As in all markets there are unscrupulous companies whose priority is not always to the benefit of the customer such companies exist who look to gain financial rewards at the expense of the homeowner looking to refinance their mortgage. Research should be done, and the reputation of any potential lenders should be established before considering using the services of any particular company. Be sure to fully understand your obligations and any small print of any financial contracts. Do not opt for the first solution on offer and research all available options.

Finding yourself in a situation of having bad credit is not uncommon even to the most careful of planners. Especially in the current economic climate, circumstances can change without control, leaving families in financial difficulties. This is reason the bad credit mortgage refinance market exists. But when considering the option of refinancing a mortgage due to bad credit, be careful in any decisions you make as the consequences could stay with you for a long time and actually make the situation worse if the wrong choices are made.

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New Homes in Commack: Is New Right For You?

If you’ve ever thought about buying new construction on Long Island, right now is the time for you to be looking. With the real estate market where it is, it is more affordable than ever to buy new construction. On Long Island, your opportunities are limited. The amount of vacant real estate available in this once farmland area, is virtuallycompletely developed. Many neighborhoods have placed restrictions on construction, conserving the remaining farmland and open space.

Nonetheless, new construction is still available and could be perfect for the new homeowner. If you’ve been looking at real estate, and have considered new construction, you should review this:

1. Older homes, while “charming” on the outside, are, in fact, old houses. Over time they age. Many houses in the 50 to75-year-old range have become “knock downs”bought by builders to put up new housing. If you’re buying an older home, it could cost you more in the long run with maintenance and repairs.

2. New construction allows you more freedom. Very few people ever locate the “ideal home” of their dreams. Generally, you need to paint, wallpaper, remove carpeting, move walls, re-do bathrooms and kitchens and a list of various tasks that become very expensive. That older houses that looked like a deal becomes very costly once you’ve done the repairs and alterations you need.

3. With new construction, you do not have to live through renovations. Kitchen remodeling, expansions and changes to your house can take months-even years. All the while, you are living in a construction zone.

4. You also have the added expense of doing these renovations, which must be paid on top of the purchase price of the house. Many families have to save for many years to have the available money for improvements. Others may try to take 2nd mortgages or home-equity loans, however this may prove unsuccessful-especially with more rigid lending requirements.

You may want to borrow an additional $200,000, but your home is not worth an additional $175,000 today. Therefore, you lack the collateral to support that home equity loan. In contrast, new construction, even if slightly more expensive, has the full cost in the home already, which is what mortgage companies want to see.

5. When choosing real estate, and evaluating existing homes, you have very limited options. The real estate is “as is”-meaning the lawn is what it is, the plantings are what they are, and the yard is what it is. Generally, with new construction, it is usually newly landscaped or in basic form so that you can landscape as you choose (generally, new construction without landscaping is less expensive than landscaped). With new construction, you are purchasing beautiful new property or freshly graded land that is ready for landscaping.

When you’re ready to consider new construction, be sure to keep all of these factors in mind. As you examine the expense of the home, consider the final costs beyond the asking price. Many families discover far better values with the newly built houses vs. a less expensive existing house that needs upgrades. Even if you are handy, a renovations are not free. You also need to come up with the money to pay for those upgrades (whereas with new construction, those costs are built into the asking price and are covered by the mortgage).

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