Here at Renttoday.us, we’ve been doing this rental property gig for a minute now (approx. 5,256,000 of ‘em…but who’s counting?) and as long as Craigslist has been around, we’ve been posting on it. Renttoday.us was the first property management company to announce sometime in 2004 that print was officially DEAD and (Read on…)
Well hello there and Good Friday! For all of you who were following this post I knooooow it was an unusually long lunch break since Part 1 and I apologize for the delay but things have been quite busy in the Renttoday.us offices (as usual)! That’s no excuse though but I’m here today to finish up our lesson on short sales and hopefully get you off to a happy and healthy Resurrection weekend which is before us!! Ok, so to summarize a bit (and for readers out there who did not catch Part 1…please jump back and catch up) the last time we spoke we had reviewed the basics of a short sale and were getting to the part where you pick your listing broker. Now, I know it seems extremely bias of us to say that we need to be your broker especially since in California everyone and their grandma is either an agent or broker BUT…we have very good reasons for this and they mostly all benefit you. That’s a good thing, right?
We already briefly discussed the fact that because we (Read on…)
Almost on a daily basis, we get a call here at Renttoday.us from a rental property owner who is contemplating pursuing a short sale. And even though the phrase “short sale” has become a household term, there is still a lot of confusion as to what exactly a short sale is, how one would pursue one, how it’s approved, and most importantly how one can be achieved when the home is a rental and is currently tenant occupied. Hang on to your seats because we will discuss all of these issues and at the end you will be a bona fide short sale specialists….read carefully….there will be a test!
First things first, let’s answer a few important questions:
Q. Why would an owner of a rental property need or want to do a short sale?
The quick and dirty answer is: (Read on…)
Wow! What a week it’s been here at the Renttoday.us offices and it’s only Tuesday!!! As you know, there’s always something new and exciting going on in the strange, drama-filled world of property management but this week we had the honor of participating in the Fannie Mae “T.I.P.” rental program which stands for Tenant In Place meaning if you are a tenant in a Fannie home….you may get to just keep your (Read on…)
Ontario demo listed at 49.9k
So, obviously…..we at Renttoday.us think we know a lot about the city of Ontario. We’re located in Ontario, we’ve invested in Ontario, we do a TON of property management in Ontario so I do think it’s safe to say that we are the ones to go to when it comes to buying more real estate in the city. And, we’re happy to say that it’s a great city to live, work, and buy in….so let’s dig into what’s really going on!
Everyone who’s anyone is interested in buying up REO’s right now. And they just don’t want one or two….they want to acquire them by the truck load and we say GREAT! We love getting new properties to rehab and manage anywhere in Southern California but who doesn’t love something right in thier own backyard…who??
“SHADOW INVENTORY” FACT OR FICTION?
I’m sure you’ve heard that Fannie Mae, Freddie Mac, (Read on…)
Wow! We were stoked to check out the newest issue of ‘Real Estate’ magazine put out by the California Association of Realtors to find lil’ ol’ me and more importantly Renttoday.us as one of the featured brokerages who are doing something different in 2010. Does this mean all of our hard work is finally starting to pay off? Not sure, but it is really cool to be recognized once in a while! Check it out and for all you in the real estate biz it should be in your mail boxes shortly. We’re on page 19 but you can click the link at the bottom of this blog to see the full digital article and that little face 5 people in…yah, that’s me 
:
Jan/Feb 2010 Cover
We’re Ready, Too!
as written in the California Association of Realtors, Jan / Feb 2010 issue, by Elyse Umlauf-Garneau
The roiling in the economy and in the real estate industry has motivated brokers to reinvent their businesses and, in some cases, get leaner, meaner, and revolutionary, in order to better position themselves—and their agents—for survival. Here are four brokers and their strategies. Let’s take a closer look:
1. Narrow Your Focus
Property management had always been a service of West Coast Property Specialists, Inc., though not a hugely lucrative one when sales were rocking. Nonetheless, the company provided cradle-to-grave brokerage and management services to investors and mom-and-pop owners alike. Though the income stream was small compared with a commission check, it was steady.
When the Ontario company noticed the rapid market shift, it envisioned a way to transform property management into something more lucrative.
Thus, the company assessed its strengths and (Read on…)
If you were reading my blog from last week, I’m here to finish the story, well sort of. And so timely, too! I just got a call from the nicest guy who wants to buy A LOT of homes it seems in our great Inland Empire but just doesn’t know where to begin. He was from the great state of Minnesota (pronounced like Minnesooooohhhta…hard O’s) and hasn’t stepped foot in So Cal in 20 years and needs the 4-1-1 on what to buy, what not to buy, and so on….Ok, here we go!
Last week we were talking about condos, which right now are great values and as we saw…some you can pick up for practically pocket change…$30,000 was the lowest we found which I’m sure you’ll agree is BANANAS!! The downside….hefty $200-$300 HOA dues but whattayagonnado?
Today, we’re going to take a peek at Single Family Residences (SFR) which in layman terms just means a regular ‘ol house, detached, not a condo or a multi-family….a house. If you are a real estate investor, we highly recommend diversifying your portfolio with SFR’s. Some investors get stuck on multi-families or apartment buildings but there’s nothing more stable or American than your standard 3 bedroom, 2 bath, 1500 square foot home circa 1980 – 2000+ to sink your teeth into. These types of homes make excellent rental property and when it comes time to sell they are always the first to go! Which is exactly what an investor wants…great rentability and great saleability. The market for these homes is very wide and they attract the most types of people overall whether renting or selling. Ok, enough chit chat let’s get down to the nitty gritty.
SO WHAT’S GOING DOWN IN FONTANA, CA?
Glad you asked! Ok, so I’m only going to look (Read on…)
I’m constantly getting asked by my investors what kinds of properties are good to buy and good buys right now! The multi-tasker that I am, I decided to write a blog on the subject so it will answer your questions while providing cool content for the Renttoday.us blog all at the same time….awesome! We in the property management biz call that “killing two birds with one stone”. I know it’s kind of a violent saying and oh, I just found out that other industries say that as well so never mind.
Bottom Line: PRICES ARE ROCK BOTTOM!
Ok, so I’m cruising the MLS to see what IS out there now and I’m pleasantly surprised by (Read on…)
Recently reported by The Wall Street Journal.
>People’s increasing willingness to abandon their own piece of America illustrates a paradoxical change wrought by the housing bust: Even as it tarnishes the near-sacred image of home ownership, it might be clearing the way for an economic recovery.
>Thanks to a rare confluence of factors — mortgages that far exceed home values and bargain-basement rents — a growing number of families are concluding that the new American dream home is a rental.
>Some are leaving behind their homes and mortgages right away, while others are simply halting payments until the bank kicks them out. That’s freeing up cash to use in other ways.
If this is you, know that you are not in that boat by yourself. (Read on…)
REAL ESTATE TREND ALERT!
According to the Pew Research Center, the latest economical trend is that college kids are migrating back to good ol’ Mom and Pops faster than an alley cat sliding down a greased pole.
Studies show that nearly 1 in 7 parents with grown children said that a so-called “boomerang kid” has moved back home in the last 12 months!
Given the double digit unemployment numbers, college scholarship pull-backs, and the overall breakdown in our economy as we know it it’s no surprise that our twenty somethings’ are racing for the comfort and security of a warm bed and free food in the fridge, rent free!
As an investor, this may change your acquisition strategies for 2010.
At Renttoday.us, we work with many real estate investors who buy multi-family rentals, single family rental homes, and condos close to our major colleges and Universities in hopes of having a stable and abundant tenant pool locked and loaded. This reliable source may be drying up. (Read on…)
