These days, there are many ways to invest in rental property. Especially depending upon the region of the country. Buying a home can be full of difficult decisions. As housing prices climb, maybe even more difficult financial planning is needed. People are looking for a different way to help pay for their mortgage every month. Some are choosing a home with an attached rental unit. This might just provide the monthly bump that makes that payment a little easier to accomplish. Invest in Rental Property - What Is an Additional Dwelling Unit? What is becoming more common in … Continue reading...
3 Mistakes That Delay Closings
Mistakes that delay closings. They can bring nightmares at the mere thought. Buying a home can be one of the most heart-wrenching and nauseating adventures of your life. But once closing is scheduled, people think, "That’s it, right?" The stomach-in-your-throat feeling should go away and all is smooth sailing. Right? Well, not always. There are many reasons closings may get delayed. Don’t let this list scare you. However, it’s a great bit of knowledge to tuck away just in case. Try to remember that sometimes delayed closings do actually happen. Repairs Were Delayed These … Continue reading...
Refinancing a Mortgage
Refinancing a mortgage. Yes, some folks are considering that after the last year. When rates are low, it can seem like the ideal time to refinance your mortgage. After all, who doesn’t like a lower interest rate? There are lots of good reasons to refinance your mortgage, such as adding on or trying to streamline your expenses, but what’s really involved in the process? Refinancing a Mortgage: The Basics Perhaps the best news any homeowner can get when it comes to a refi is that it’s not likely to be nearly as difficult as getting the original loan was. Breathe a big sigh of relief if you … Continue reading...
What is a HELOC?
What is a HELOC? Well, that is a question many have been asking lately. Especially with Las Vegas home values having risen over 50% in the last few years. Now Las Vegas homeowners are looking for ways to tap their equity without selling their home or refinancing their primary mortgage. And so, this may interest you if your home has gained significant value since you purchased it. Or even if you’ve just paid so much of the mortgage down that you’ve got ample equity to work with. Either way, a HELOC on your home might make sense. Home Equity Lines of Credit (HELOCs) are popular options for … Continue reading...
Problems With Buying a Foreclosure
Buying a foreclosure. What are the problems with buying a foreclosure? Well, buying a house can be incredibly exciting. It can also be terrifying at the same time, especially if it’s your first or second home. And so, for a lot of buyers today, the idea of getting a killer deal is the ultimate goal. It is one that you may hear is possible with a bank-repossessed property (also known as a “real estate owned” property or simply “REO”). Real estate prices have gone up, after all. So what’s the scoop on these REOs? Can You Get a Great Deal When Buying a Foreclosure? This is a tricky question … Continue reading...
Why Own Rental Property?
Why Own Rental Property? Why own rental property? Well, many people realize every April 15th that their house that they live in is also a great way to pay less taxes. After all, the interest on your home is tax deductible. But did you know that Congress has allowed tax codes for even better ways to save money on taxes by owning real estate? Now then, before you only take my word for it, I am telling you something right up front. You should not make any financial decisions without contacting your accountant and attorney first. Let them tell you what their advice is. All I am doing … Continue reading...
Choosing the Right Loan
Choosing the Right Loan Choosing the right loan can be one of the hardest parts of buying a new home. There are a number of mortgage options out there. And if you choose one that isn’t really ideal for your situation, then you might end up paying a lot more for it in the long run. So, with so many options, how do you know that you’re getting the best loan to match your situation? It takes a little bit of homework, but there are actually a few different ways to sort through potential loans. These will allow you to find the best one for you. A lot of things can affect the loans that are … Continue reading...
Should I Waive a Home Inspection?
Should I Waive a Home Inspection? There is a lot more to buying a home than just signing some forms and picking up your new keys. One of the most important steps that buyers take is getting a home inspection to identify any potential issues with the property. While this may not be required, it is very common. Of course, lenders will require an appraisal of the home however, that will not be as thorough as a full home inspection. So, does that mean you should waive getting an actual home inspection as a part of your home purchase? The answer depends upon you, your market, and your home. … Continue reading...
5 Things That Can Ruin Your Chances of Getting a Mortgage
Getting a mortgage. If you’re like most people buying a home in Las Vegas, you’re going to need a mortgage loan – but people are disapproved every day. Check out the five things that can ruin your chances of getting a mortgage loan here. 5 Things That Can Ruin Your Chances of Getting a Mortgage Getting a mortgage. For the vast majority of people, buying a home in Las Vegas hinges on one very important thing: getting a mortgage. Do you know your chances of getting a mortgage? If you can’t get a mortgage, there’s a good chance that you can’t buy a home. So what can cause a lender … Continue reading...