The Exact Right Price For Your New Listing...

...or a Re-Price for one that has been lingering on the market

what I have been noticing lately

is that the majority of unsuccesful sales have some ready made excuses

• the market sucks
• the economy sucks
• gas prices suck
• the Iran crisis sucks
• my agent sucks
• the mid term elections

the last one in particular in really funny when you say it out loud

"my home isn't selling because a senate/governor election 6 weeks from now chased all the buyers away"

so now that you know how I really feel about it

a home that is priced well

based on its location and condition

will sell quickly in pretty much any market

to get the rest of my super candid take on this

tune in today's show for the down and dirty details

Look At These Things For AirBnb Properties...

...I have been on every side of short term rentals

• owned them
• sold them
• worked with investors
• managed them
• stayed in them

and there a few key differentiators that are missed quite often

that lead to less bookings and less profits for owners

and veteran short renters with less options to get everything that they are willing to pay for

bedroom and bathroom configurations are super important

bunk rooms for kids are a big part of the focus

so are game rooms and stand alone video games

pools in warm weather areas attract attention

hot tubs with a view in the mountains can be the clincher for many renters

owners should place a heavy emphasis on this

when they are making investment decisions

a detailed floor plan should be part of your online marketing

I notice that many ads do not have them and its a big mistake

check out todays show as I share many lessons learned over the years

Welcome To 7% Interest Rates...

...The Fed did what everyone expected at todays meeting

they raised interest rates by .25%

in an effort to tame inflation

let's face it - everything costs more these days

this is the 1st increase by the Fed Rates in about 3 years

so while its not the end of the world

it does affect purchasing power for most buyers

and it remains to be seen if it has an effect on home prices

listen in to today's show for all the nitty gritty details

The Accidental Landlord Conundrum...

...is a situation facing far more homeowners than most people realize

and if you are in this situation

there is a very good chance that someone you know is facing the same thing

• you cannot sell your home for a price that makes sense
• you have a compelling reason to move
• you never intended to be in the property rental business
• you don't have the time or resources to manage a rental property
• you have no desire to be a landlord

and yet many people will end up choosing to rent out their home

the vast majority will end up hiring a property management company

and they end up getting 4 benefits that they may not have known upfront

• monthly cashflow
• someone else paying down their mortgage balance
• property appreciation to build equity and wealth
• tax write offs to reduce what they pay to the IRS

listen in for all the details

Maybe It's Time To Get Your 1st Investment Property...

...it has been the #1 way to make money for more than 100 years

it has even outperformed the stock market during that time

There are so many ways to get in the rental game

I think everyone knows that you will need a way to pay for it

cash is king

if you choose to finance, then you should plan for a 20% down payment

you will need to decide if you want to do long term or short term rentals

you can absolutely manage it on your own

although many people to choose to hire a management company

you may very well need a rental license

so be sure to check into any restrictions before making any offers

if you choose to purchase without the help of an agent

you will need to do your own due diligence in many areas

the majority of investors choose an agent that specializes in rentals

so definitely do your research before hiring an agent

so that you get the level of expertise that is just right for you

listen in for my thoughts on how to get started

DSCR Loans For Investment Properties...

...is something that many landlords aren't familiar with

Debt Service Coverage Ratio

helps investors that run out of traditional methods

to obtain financing for real estate purchases

most investors start of with home loans from a bank

where they use their personal income and credit

to qualify for the loan

DSCR uses the uses income from the property

which is very useful for an investor with a large number of properties

2 Years Later - Buyer Broker Agreements...

...some buyers are not aware that they even exist

let alone that they are required for an agent to provide real estate services

for those that work in the industry

this can seem to be almost unbelievable

but lets face it

most people move every 7-10 years

and if you aren't looking to move

you really don't have much reason to learn about it

the short story is that an agent cannot work with a buyer

without having a signed agreement in place

which makes it crystal clear that the agent:

• will be earning a commission
• the amount of compensation
• who pays for it
• how long the agreement will last

keep in mind that no one is required to use an agent

and that commissions are negotiable

an agent can provide you with a copy of the agreement

for you to review and ask questions

today's show gives you the details

Is The Open House Dead...

...as a real estate strategy

In the current real estate market

an Open House may be actually be very ineffective

now stay with me

I am not saying that they will never work

but its become more of an impulse item

most people going to open houses these days

are actually on the way to do something else

and happen to become browsers after seeing a sign

with all of the information available on line

most buyers that are ready to purchase now

prefer to book private showings

for the homes that they want to see in person

listen in to todays show to get the scoop on whats changed

Is the Price Of A Home Really Out Of Reach...

...quite often its actually within reach when you do the real math

We live in a time where many people are very accustomed to

• the daily coffee purchase
• lunch and dinner deliveries
• subscriptions for all kinds of things
• amazon daily deliveries
• new expensive cars each year

I am not telling anyone to give up those things

but they do end up being a large and often unnecessary

variable expense in the majority of family budgets

which leaves less money each month to pay for a home

interestingly - many people are renting the place they live in

and nothing wrong with that either

but a $2,000 per month rental

is $24,000 per year that is not building your wealth

• its not earning any interest
• its not an appreciating asset
• it does not provide any tax benefits
• its not a way to save for the next home

today's show breaks down the math that might just make a difference for you

If Your Home Sale Isn't Going Too Well...

...You really only Have 2 Levers To Pull to change things

Price And Time - thats it

Many homes are lingering on the market unsold

and sellers are having a hard time facing the real reasons

that their homes aren't selling this year

its easy to blame

• the market
• the economy
• the war in Iran
• their agent

but the real reason is very likely to be something different

its the home seller is refusing to accept the current market conditions

so these sellers will use the time lever and wait it out

provided that they have enough time available for the market to increase

• they have to get "their price"
• they refuse to "lose money" on their home
• they have always made money selling a home
• they have "way too much money into it"

other sellers will have more urgent situations and take a pricing action step a bit downward

or invest a significant amount of $$$ to upgrade the home to meet the price they need it to be

the most effective strategy though is to simply price it where homes are actually selling

and get on to where you really need to be

today's podcast gives the inconvenient truth on how the market is playing out