Would you rather live in a brand new modern home or something decades old with some original charm?
Let me know in the comments below.
Toluca Lake is old money... so it's nice to see some new construction in the area every once in a while.
We have lots of showings, but no offers. Why?
It's been 2 weeks. You have had a ton of showings, but no offers.... what's going on? . The good news is that your marketing is working. Buyers are walking in your front door (lets not minimize how difficult this task is). . The bad news is that by not putting in a offer, the buyers are telling you non verbally that your asking price is to high. . In other words, whatever you are offering is not worth your asking price, so they simply pass on it. . If you are in this situation, it's time to reevaluate your pricing strategy.
What is the significance of a "pre-approval" letter?
The buyer doesn't want to submit a pre approval letter? Forget it! Find another buyer.
If the buyer for your home does not want to submit a loan pre approval letter, find another buyer
Before you even begin negotiations with a home buyer, you need to know if they can get a loan to purchase your home.
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Otherwise it can all be a big waste of time.
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Get a letter from the buyers lender saying that all the buyers financials have been checked out and they they are pre approved for a loan for "X" amount of money.
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If the buyer does not want to give you this letter... show them the door!
Don't drop the asking price of your home, drop your real estate agent
Did your agent fully market your home?
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Did they take professional photos of your property?
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Did they they tell other agents your property is for sale?
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Did they do open houses?
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Did they absolutely do everything they could to sell your home?
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If your answers to these questions is YES, then it's time to get a new agent.
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You see, they have done everything they could possible do to sell you home, and it hasn't worked.
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If you continue to work with them, they are going to use the same selling tactics they already used and will continue to get you the same terrible results.
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They have exhausted every selling strategy they know to sell your home... there is only one strategy left for them to use. Do you know what that strategy is?
Your home's tax records will tell you how many units you can build on your lot
Want to build a few units on your lot?
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Looking to rent out those units for some extra income?
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Maybe you are allowed to do it... maybe not.
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Check your tax records to see your properties zoning.
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This is only your first step in getting those units built...
Live in the same area as your investment property
If you don't live in the same area as your investment property, you will probably need a property manager.
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Paying every single month for a property manager defeats the purpose of have an investment property... take make MONEY!
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Live in the same area as you investment property, that way you can keep your eye on it and you can handle any problems that come up with your tenants.
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Pay yourself... not a property manager.
Episode 12 of The #AskDanielLosAngeles Show
In episode 12 of The #AskDanielLosAngeles Show, I answer the following 4 real estate questions:
1) We are moving to Texas later this year. Should we keep our house as a rental or sell it?
2) You said to call the county assessors office to fix any mistakes on our homes public tax records. Why bother doing that?
3) If I have my home on the market, and my friend wants to buy my home, do I still have to pay my real estate agent a commission even though I found the buyer myself?
4) I'm thinking about building a rental unit at my property. How can I find out how many units I can build on my lot?
Please email me any real estate questions you may have at Daniel@ContempoRealtors.com
For daily real estate tips, don't forget to follow us on Instagram @DanielLosAngeles. We have over 6,800 followers now!
Can you buy a home with a low credit score?
If you have a low credit score, get a co-signer.
Otherwise, you will have to do something to entice the seller to pick your offer... that usually means you will have to offer more money.
Make a buyer pay more for your home if they have a low credit score
If the buyer for your home has a low credit score, tell them them you received an exact offer from someone else who has a better credit score.
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Tell that low credit score buyer that you will be forced to take the other offer unless they can offer more money.
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My bet is that you will get offered an additional $5,000 - $10,000 from that buyer.
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Take a trip to Italy with that extra cash... bring me back a 🍕!
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#ruthless
Our listings average 13,000 online views
Our marketing skills ➕ our “Flexible Commission Listing”, guarantees that you will end up with the most money possible in your pocket when selling your home.
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Visit our website for full details ContempoRealtors.com
When buying a home, do I have to pay my agent a commission?
If your buying a home, your agent will know what the seller is willing to pay him in a commission fee before he even shows you the property.
If the seller is not offering enough money in compensation, he may choose to not show you that home.
Think about the buyer agents potential actions when strategizing the sale of your home.