Monthly Archives: September 2017

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The rules on how to sell lots and land

There are few important facts for those who wonder how to sell lots and land. When an investor considers these steps, the selling is much easier.

Sell lots and land: Knowing the audience:

Addressing the proper audience is one of the most crucial things. When the seller knows who the potential buyers are, the situation becomes better. In some cases, certain lots and land require special kind of promotion. The main attention is about the location, the purpose and the overall potential of lots or land. If these factors are targeting the specific audience, then most sellers can expect good deals. Selling the land near the main road might be good for the gas station. With this potential in mind, the land will find the right buyer.

Sell lots and land: Predicting the real price:

One of the common mistakes that sellers make is definitely expecting the unreal price. We all try to get the most out of our lots and land, but the reality is sometimes different. It is important to consider all aspects. The potential and the situation on the market will determine the price. There is no need for overestimating.

Sell lots and land: Paying attention to details:

Selling of lots and land is quite different than selling of homes. In situation when someone buys the home, there are numerous things that can increase the price. Spacious rooms, quality construction and colorful walls are some of the advantages. The buyer has something solid to pay attention to. On the other hand, lots and land are usually pieces of land without any specific details. However, the seller should make it look better. Cutting the grass, planting the flowers and making everything tidy and clean might help tremendously.

All these steps matter in the process of selling lots and land. The situation is much better for the investors who know the basics. When they consider these rules, they can get the best price.

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Check list for a hurricane insurance claim

~Repost from one of our corporate sponsors 

Please use this check list for a hurricane insurance claim. I had significant damage to my home after Hurricane Charley. I wish I would have had this list then.  Jeff Tumbarello

Check list for a hurricane insurance claim: assess for safety.

First thing, assess the property to ensure it is safe to access.  If you see  standing water then proceed with caution or not at all. In our case during Hurricane Charlie, we left the property when the standing water began after the roof began to fail.

Check list for a hurricane insurance claim: document.

The first thing you should do is take an inventory of property. Take video/pictures via your smart phone, take note and detail which components of your property were damaged. Also, make a detailed list in writing. Take special note of your electronics, major appliances, and furniture. Taking pictures or video is the best practice here, having a visual record of the damage and repairs needed, will help the insurance claims process move smoothly. Also, if you did a video and/or pictures before the storm (your best practice) the comparison of the two will help the claim to progress.

Check list for a hurricane insurance claim: secure

As the property owner, it is your duty to ensure no further damage is caused in your property. Moisture is your properties worst enemy, so make temporary repairs to avoid mold and mildew. Cover and patch holes in the roof. Secure broken windows so looters or additional weather does not cause more damage. If the storm caused missing shingles on the roof, make sure you mitigate the damage by installing tarps to protect the property from further damage and water/moisture intrusion. Save all of your receipts in relation to this. I cannot stress this enough, make sure you save everything.  Also if you evacuate, record your mileage.

Check list for a hurricane insurance claim: file your claim

File a claim as soon as you can! Get in contact with your agent or your insurance provider company to begin a claim. Permit the insurers adjuster reasonable access to inspect and review the damaged property or records relevant to your claim. The faster they obtain access, the faster the checks will begin to come. Do not begin cleanup, repairs or throw anything away until you notify your insurance company! They will tell you want you can and cannot do.

Check list for a hurricane insurance claim: keep good records.

If your home is uninhabitable, keep record of any living expenses that may be reimbursed. Without receipts, you will not be able to collect any loss of use coverage throughout the time the house is uninhabitable.

Check list for a hurricane insurance claim: hire well

Once the clean up and rebuilding begins: Only hire licensed contractors to perform the work. I cannot say this enough. I chipped out a 1,000 Sq Ft of new tile laid by a handyman I hired once. Also, call and get estimates first. Prices will begin to rise as the rebuilding volume begins to affect the market… Also, offer to pay the contractors quickly, they will perform your work first, as many need to build up an operating reserve.

Check list for a hurricane insurance claim: be aware of what you are signing.

Beware of signing a contract with an “assignment of benefits” (or AOB) clause this gives the contractor the rights and proceeds of your insurance claim.

The adjustor that the insurance company sends out is not on your side. Make sure you have your own records and documentation. I hired my own adjustor after Hurricane Charlie. They got me an additional $30,000. I have had two major real estate related insurance claims. A partial loss due to Hurricane Charlie and a total loss where a rental property we owned burnt down. The partial losses are trickier and very subjective. Make sure you know what you are doing or get someone involved who does.

Check list for a hurricane insurance claim: keep perspective.

In the end, it’s only stuff. You will rebuild and life goes on.

Let us know if we can help 239 694 3300

 

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August 2017 Lee County Foreclosure Report

Here is the monthly August 2017 Lee County Foreclosure report!

Where does the August 2017 Lee County Foreclosure come from?

We download from public records and trend with microsoft excel.

Why do we generate reports like the August 2017 Lee County Foreclosure Report?

The SWFL REIA is known and respected as a source of current, actionable and useful information about the housing market in the area that we meet. This report is a leading indicator of a rise to the distressed market. Therefore, watching these numbers each month gives you a unique advantage of being able to adapt quickly in the event of a market turn.

Without further ado, here is the August 2017 Lee County Foreclosure Report:

August 2017 Lee County Foreclosure Lis Pendens Filings:

  • August 2017: 89 Mortgage related Lis Pendens.
  • July 2017: 85 Mortgage related Lis Pendens.
  • August 2016: 101 Mortgage related Lis Pendens.

August 2017 Lee County Foreclosure Certificate of Title Conveyances:

    • August 2017: 87 Certificates of Title were conveyed.
    • July 2017: 55 Certificates of Title were conveyed.
    • August 2016: 133 Certificates of Title were conveyed.

 

August 2017 Lee County Foreclosure August 2017 Lee County Foreclosure August 2017 Lee County Foreclosure

 

We meet twice a month:

Our night time General Meeting

SWFL REIA General Meeting

Wednesday 9/20/2017, 6:00 PM

LOCATED AT: 1400 Colonial Blvd Suite 48, Fort Myers, FL 33907 click here a map of location

Topic: Investing in Land

Presenter: Bill Counts, OWNER at Builders Realty Services and Investor.

Presenter: Kevin Page, Broker Cape Shore Property Management Inc

Kevin is a Broker and successful real estate investor with extensive knowledge of single family, multi family rental properties,land, lots and prime waterfront properties and precious metals.

Presenter: Reed Schweizer, VP of Sales for Asset Quest

Reed Schweizer is the VP of Sales for Asset Quest in Fort Myers. Asset Quest is Florida’s premier acquisition company specializing in vacant land throughout Florida. Asset Quest is a land investment management company with over 10,000 transactions in the past 10 years. AQ provides land to individual investors, hedge funds, REIT’s and builders. AQ has a wide array of acquisition resources with advanced technological systems adding tremendous value to our team and clients.

The Monthly Luncheon

SWFL REIA MONTHLY LUNCHEONS

When: 9/6/17

Topic: New Construction trends within the market.

  • We have done an export from the tax rolls.
  • We will discuss trends from the tax rolls not just the MLS.

Presenter: Jeff Tumbarello, Director SWFL REIA, Owner/Broker Steelbridge Realty LLC

 I have worked with the following media outlets as a subject matter expert. (General Real Estate, Real Estate Statistics, Real Estate Investing & Foreclosures): NPR, Bloomberg, Huffington Post, Wall Street Journal, NBC, ABC, Wink, Fox, Fort Myers News Press, Naples Daily News, Fort Myers Weekly, and Gulf Coast Business Journal.

I am the local expert and source of data for the current trends in foreclosures. I also have performed market metrics and product modeling for the capital markets and several private equity firms. I also was a Trainer/Speaker for the Florida Housing Coalition.

In 2003, myself and 3 other SWFL RE Investors Founded the South West Florida Real Estate Investment Assoc.

I have invested in Real Estate since 1997. I have materially participated in almost every type of Real Estate Investment Transaction a person can.

Where: Three Fishermen Seafood Restaurant

Address: 13021 N Cleveland Ave, North Fort Myers, FL 33903

Click here for a map 

Time: 11:00 AM to 1:00 PM

 

We look forward to meeting you at a meeting soon!
Click here for membership information

Get our meeting notices and market data  emailed to you.




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What to look for when hiring a contractor:

While remodels sometimes can be rather difficult, a professional and qualified contractor can make it a smooth transition to a finished product. From my experience. Most rehab issues are caused by hiring the wrong contractor.

Hiring a Contractor: Get References.

Make certain your service provider has actually worked with tasks that resemble your own. You don’t hire a plumber to do your roof and vice versa. Make sure they are skilled and experienced at the job you need to be done. Employ somebody that fulfills your demands, as well as provides before-and-after images from their current tasks. This will certainly help provide you a concept of what you should expect. I ask for a reference from 2 of their previous jobs.

Hiring a Contractor: Look for Experience.

Google the service provider’s name as well as the business name. Make sure you also check to see if they have a Facebook page and for Yelp reviews. Seek favorable and also unfavorable testimonials. Also, do the reviews look genuine? Likewise, an expert service provider will certainly offer you with names as well as varieties of completely satisfied clients so you could call them to inquire about their experience. Make certain to call as well as ask their previous customers regarding the experience. Below are a few inquiries you ought to ask:

As discussed over, it is likewise necessary that you have the ability to quadrate your specialist. If their individuality makes you regret throughout the initial conference, you should certainly reevaluate employing them. An expert specialist will certainly describe points to you without really feeling inflamed and also will certainly pay attention to every trouble that you have.

  • Did they do just what was asked of them?
  • Did the professional remain on a budget plan as well as on schedule?
  • Are they simple to deal with?
  • ould certainly you employ them once again?

Are They Licensed And Insured?

Examine whether your county or city’s permit division requires. Likewise, make certain that your contractor has insurance. A contractor worth hiring will certainly have insurance coverage and also will pull a permit if it is needed.

Time To Get An Estimate And GO To Contract

When you zero in on your contractor, it is time to request a price quote. You need to understand “what this will this cost” and “what exactly am I getting”. Contractors tend to bid by the job or by the hour. The devil is in the details when it comes to estimates. I always try and get the contractor to put a completion date. Some investors insert penalties into the contract if the job becomes overdue. Also, I have seen new investors try and make contractors use substandard materials to save money. Do it right the first time!

Hiring a Contractor: Work Out A Payment Schedule

Do not pay the whole amount upfront. The contract should be structured in draws. From my experience, a contractor that can not buy the materials themselves is a red flag.

When The Job Is Done Get A Lien Release.

After the job is done and also prior to the last repayment ask the service provider to supply you with a lien release for the products and also labor. This document shows the contractor is paid and waives all liens to the property.

We meet twice a month:

Our night time General Meeting

The Monthly Luncheon

We look forward to meeting you at a meeting soon!
Click here for membership information

Get our meeting notices and market data emailed to you.




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Habits of Successful Real Estate Investors.

Habits of Successful Real Estate Investors : Discipline in decision-making.

First and foremost, numbers should be your rule and guide in making decisions. Emotions are not a successful real estate investors friend. Focus on the math of an investment. That is the number one key for successful real estate investors.

Habits of Successful Real Estate Investors : Comprehending core principles.

Failure is virtually guaranteed if you do not recognize the fundamental principles of business, real estate, and also the particular niche you are participating in. Long-term success calls for not just an understanding of acquiring as well as offering actual estate, or the best ways to be a landlord, however likewise fundamental financial principles. Comprehending market changes, financial cycles, financial policy and also various other facets of business economics will guarantee you could respond intelligently when changes do happen. Finding out the essentials is not always fun or exciting, but it is vital in attaining lasting success.

Habits of Successful Real Estate Investors: Stability in business transactions.

Real estate is notorious for bring in people seeking a fast buck, but if you look at successful real estate investors, their success covers years and also is obtained via unbelievably focused effort. The investment market in SWFL is really a small place. Try and maintain a good reputation by stability.

Habits of Successful Real Estate Investors: Adaptability:

Murphy’s Law is alive and well in property investments, and to endure unavoidable surprises, and market variations, you should be versatile enough to adjust your plan as you go. Preparation is absolutely critical, but just as so is the capability to swiftly decide when it is essential to depart from the plan. Successful real estate entrepreneurs know when they have to re-evaluate their current plan and also make adjustments to preserve the lasting success of their investments and also company. A great example of this would being selling your portfolio for 90 percent of market in 2006. That investor looked brilliant in 2008!

Successful Real Estate Investors keep the money they earn.

Most local business fall short as a result of bad finance. Projecting, budgeting, and economic planning is coming to be a lost art among local business proprietors, as well as it could be dangerous to your service. This is why comprehending the essentials of bookkeeping, tax obligation legislation, capital monitoring, financial obligation administration, as well as other economic principles is so essential, also if you have a fantastic accounting professional as well as book-keeper.

Successful Real Estate Investors eliminating toxic behaviors.

Leaving your personal method is the fastest track to success. The rules to success are all over. It simply takes confidence and also guts to just adhere to these easily available maps to success.

The SWFL REIA is the premier place to understand what you are here to do, in relation to becoming successful real estate investors!

We meet twice a month:

Our night time General Meeting

The Monthly Luncheon

We look forward to meeting you at a meeting soon!
Click here for membership information

 

Get our meeting notices and market data  emailed to you.




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