How to train your Orlando Buyer’s agent

For first-time homebuyers in Orlando, it’s imperative that they’re able to communicate to their real estate agent exactly what they’re looking for.  This will save the potential home buyer as well as the Realtor a lot of time. It may seem like an easy task but you’d be surprised at the lack of communication that goes on between Orlando buyer’s agents and their own clients.

Here are some helpful tips on how to make the most  of your agent buyer relationship

Be clear on what your wants and needs are. The more details that you’re able to provide your agent with like; How many bedrooms and bathrooms, how many sq ft? what neighborhood or subdivision you want to live in? are you interested in Orlando short sale homes? etc., the less time you will waste on looking at houses that don’t meet your criteria. With all the technology available to real estate agents these days,  they are able to eliminate a lot of the leg work by searching for homes for sale online. A good buyer’s agent will do more than just search the MLS, they will also search for homes that aren’t listed on the MLS like FSBOs [for sale by owner]. They do this by extending their search to craigslist, and newspaper classifieds, and even by driving around in the neighborhood where their buyer wants to live.

Be demanding…in a nice way.  Real estate agents want to close deals so that they can get paid. However, agents also want to be the “Hero” when it comes to finding the perfect house for their buyers because they know that if they do their job well, they will probably get more clients from the buyer’s friends and family. It’s OK to be a demanding buyer, I mean you’re about to make a huge investment by buying a house. However,  you should also be nice at the same time. The last thing you want is for your agent to have you on their “Difficult Client” list. This may negatively affect your relationship with your real estate agent and they will be less interested in finding your dream house.

Be responsive. Good real estate agents work very hard for their clients and there’s nothing more frustrating to an agent than when they spend time searching for the perfect house for a buyer then that buyer doesn’t return their call or email and they end up losing that house to someone else. By being responsive to the agent and returning their calls or emails immediately, this will most likely create a reciprocal effect and the agent will be just as responsive to you as you are to them. This will also give you the upper hand if you need to tell your agent to be more responsive to your messages.

Be honest with your agent. If your real estate agent finds you a house that meets all your criteria but for some reason, you still don’t like it, then you need to tell them. Don’t be afraid to hurt the agent’s feelings, it’s not their house. Remember that this is about you [the buyer] first and foremost, therefore it’s the agent’s job to make you happy. If you can’t be honest with your agent, then you probably won’t end up with the house you want and you will end up settling. Would you lie to your doctor about what hurts? Of course not because you want results!

Evaluate your agent. Not all real estate agents were created equally, therefore you should evaluate your agent’s performance after a week or two. Ask yourself these questions

     a. Has your agent shown you houses that meet your criteria?

     b. Has your agent been responsive to your calls or emails as you are with them?

     c. Are you happy with your agent’s performance so far?

If you can answer yes to these three questions, then you may want to hang in there. However, if you feel that your agent is neglecting you or they just aren’t getting the job done as per your expectations, then I would say it’s time to find another real estate agent to represent you.

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Looking For An Investment Property? How To Choose The Right One

Ten years ago, savings accounts earned interest and those of a less risk-averse persuasion could earn a decent income by investing their spare cash in the stock market and other investment vehicles. But since the global recession, savings accounts and investment funds are no longer performing in the same way, so if you want to make your money work harder, property investment is a much better choice.

Buy To Let Property

Investing in rental property can be a smart move. There is always a demand for rental property, particularly in certain parts of the world such as London, New York, Tokyo and Shanghai. Young people are far more likely to rent an apartment than buy, and with the demand for rental property so high, it is possible to enjoy excellent profit margins on an investment property.

Location, Location, Location

Choosing the right location is vital. Some areas are always more attractive to tenants than others. In the case of student lets, student tenants will want to be close to their college or university campus as well as in the middle of the nightlife. Young professionals will prefer to have public transport links at close hand, plus they too will want to be in the thick of it. Executive lets are a different story. To attract higher paying tenants, you would be better off investing in larger properties in more affluent areas.

Do Your Homework

If you are looking to invest in an unfamiliar area, be sure to do your homework before you buy a property. Talk to property agents and find out where the most popular areas are and whether there are any large developments being planned which could affect local property prices in the near future. Once you have identified a few potential properties, investigate the average rental income for such a property to help you decide whether (or not) it would be a worthwhile investment.

What Type of Tenant Are You Aiming For?

There are several key types of tenants in rental properties.

  • Students – You will never be short of tenants if you aim at the student population, but properties are more likely to suffer from wear and tear.
  • Young professionals – Young people in the early stages of their careers make good tenants. They don’t have huge amounts of disposable income, but they will generally treat a property better.
  • Executives – This is the higher end of the rental market, but the cost of the investment property will be higher and profit margins lower.

Apartment or House?

The type of property you invest in will probably depend on which area you are looking at. In many large cities, rental apartments and multiple occupancy properties are the norm. This type of property will often be cheaper to buy, but it may be subject to different legislation, so always make sure you are familiar with your obligations as a landlord before you invest.

Before investing in an apartment or house to let out to tenants, think very carefully about whether the investment is right for you. Property prices can go down as well as up and if you end up with a significant void period between tenants your investment property could end up costing you a lot of money.

The author of this post, Wei Wong, is an avid blogger who often writes about Orlando Realty, a company providing homes in Orlando, FL.

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Orlando Short Sale- 9040 Greenbrook Ct. 32810

Orlando short sale- 9040 Greenbrook Ct. 32810 VIDEO.

This Beautiful 2 Story home is located in the very desirable subdivision of EDEN PARK. Nestled in a quiet cul-de-sac, this property is perfect for any family to move in immediately and start living the good life.
https://orlandorealtyconsultants.com/
Listing Price: $235,000

Bedrooms: 5
Bathrooms: 2.5
Square Ft.: 2614
Two car garage

Other Great features include

* Downstairs Master

*Screened-in Private Pool

*Fenced-in Backyard

For more information go here: Orlando Short Sale- 9040 Greenbrook Ct. 32810

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Orlando Real Estate is Flipping Hot!

Orlando real estate is once again providing some of the best market conditions in the U.S. for house flippers to make a fat paycheck. Homes are in serious demand and prices keep rising. For smart investors, this means big money. The practice of buying homes and then rehabbing them to sell for a big profit reduced drastically during the prolonged downturn after the real estate market crash of 2007. Within the last two years or so, we’re seeing the Orlando Real Estate market get increasingly hotter

With home prices climbing again and buyers circling for deals like sharks in bloody water, rehabbers are again flooding back into the market to capitalize on the appreciation.

We’re also seeing a tremendous opportunity for people or companies that are able to buy houses in bulk, then turn around and flip them. It’s obvious that Orlando has completely changed to a seller’s market.

The company RealtyTrac analyzed over 700 metro areas in the nation where single-family homes were rehabbed and flipped last year. Then they selected the top 25 areas based on the gross profit as a percentage of the original sale price of the property.

Orlando’s ranking came as a result of over 2,500 single-family homes that were flipped in the past year, that’s over an 85% increase over the homes that were flipped in 2011-2012.

The average purchase price of those properties was around $120,000.00 with an average sale price of around $155,000.00. That means a $35,000.00 average gross profit on those flips which translates into a 32 percent yield according to RealtyTrac.

Do you want to see just how much your house is worth?   Visit us here at https://orlandorealtyconsultants.com/ to use our Home valuation Tool

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How can the citizens of Orlando get approval for mortgage to invest in real estate?

The borrowing standards are restricted by the lenders due to the increasing rate of bankruptcy, foreclosure, or short sale. If you’re planning to apply for a mortgage loan, then you’re required to keep some of the qualification requirements in mind. You need to be cautious when you plan to invest in real estate by taking out a mortgage. You’re required to keep some of the important points in mind when you plan to get approval for a mortgage to invest in real estate in Orlando.

Here are some of the important tips that you need to consider when you plan to get a mortgage loan to invest in real estate:

1. Stable Income: A mortgage lender may check whether or not you’ve stable income to pay back the owed amount. If you’re self-employed, then you’re required to provide tax proof to help the lender evaluate your total income. Therefore, you’re required to be ready with your pay stub or income tax return to provide evidence of your stable income.

2. Review your credit score: Before applying for a loan, make sure you check your credit report to qualify for better rates. According to Experian, the average US credit score of a consumer needs to be 750. Your mortgage loan can be approved on favorable terms if your credit score exceeds 750.  If you’re a citizen of Orlando, Florida homebuyer, then ensure that your credit score exceeds 750 to get a loan at a low-interest rate.

3. Save funds for a down payment: The lenders may approve your loan program only if you make a considerable amount of downpayment on the loan. If you don’t have enough money to use as a down payment, then save funds before applying for a loan or taking financial help from your loved ones. You’re required to make a down payment of as much as 20% of the total value of the home.

4. Low Debt-to-Income ratio: If you’re planning to apply for a new loan, make sure your debt-to-income ratio is low. Well, the industry standard for an acceptable ratio is 28/36. So, your primary ratio should not exceed 28% and the second ratio should not exceed 36% of your gross income.

5. Eliminate your debt: Try to eliminate your debt before you plan to apply for a new loan. However, it can be difficult but not impossible to get a new loan with a blemished credit report. But the interest rate on your mortgage may increase because of your blemished credit report. If you want to get the loan on the favorable term, then immediately work on eradicating your debts. Before applying for the loan, make sure you put a large amount of your money to eliminate your debt. You can get your loan on favorable term once you eradicate your debt.

Therefore, you’re required to keep the above-mentioned points in mind when you’re planning to apply for a mortgage in real estate.

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