Monthly Archives: November 2017

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How to get quality tenants

Among the greatest tensions that has possessing a rental property is when the lessee leaves. Right now, it’s your obligation to examine the residential property, order upkeep, as well as tidy every little thing for the following lessee. Often, this procedure is a wind. Various other times, you’re entrusted a great deal of deal with your hands.

A tidy residential or commercial property returns lots of advantages. An the side effects of excellently maintained asset includes greater lease rates, so it’s extremely important to make the asset tidy after an occupant leaves.

How to get quality tenants: Make the departing Tenants Clean Thoroughly.

Provide your occupants a comprehensive list of what you expect  them to clean and/or care for. Preferably, giving a list reduces the quantity of cleansing you’ll need to subsequent with. If your lessees follow your list to the “T”, your last walkthrough will certainly be easier. Also, make this list available before the move in.

How to get quality tenants: Change Old Fixtures as well as Old Appliances.

You could clean up things for some time, however sooner or later, it’s  better to change them. Fridges, ranges, dish washers, as well as various other devices ought to be changed when they begin to end up being filthy and also hard to maintain tidy.

How to get quality tenants: Get a Stockpile of Magic Erasers.

Magic Erasers are a landlord’s best friend. You could additionally stockpile a variety of commercial cleansing products. These business products function better compared to just what you could overcome the counter, however they’re not easily offered to the public. Also, Odoban is a great product.

 How to get quality tenants: Employ a Professional Company to Clean.

Find someone who cleans for a living and have them do it. When you turn an asset over to a tenant, you almost never get it back in better shape. The cleaner it is at move in, the better chance you will get a clean home. At least you are setting the standard for how you keep your assets. Walkthroughs will also help you to gauge how they maintain the property.

How to get quality tenants: Look For Maintenance Needs before they move in.

Prior to the following occupant gets here, inspect your property for any kind of upkeep requires:  Look for broken items as well as any differed maintenance that can be cured.  (such as openings in the wall surfaces), damaged home window locks, or leaking sinks.

These are just a few items to  focus on. How to get quality tenants is an important part of maintain an accepted return on investment for your cash flowing assets.

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Lee County Real Estate after Irma

Lee County Real estate after Irma: This is an update to the case study “SWFL Real estate after Irma” that was presented by Jeff Tumbarello, Broker Steelbridge Realty LLC/ Director SWFL REIA at the SWFL REIA luncheon in October.

Disclosure:

  • This presentation is meant to provide some guidance from a statistical point of view.
  • This is my work done for my use and shared with you.
  • All data exported from MLS and trended with Microsoft excel.
  • Data was exported on 11/15/2017

Lee County Real estate after Irma: Where is the market today?

Volume Jan thru October YTD (Year to Date)
Lee County Residential

2016 2017 DIFF
Sales Volume  $  4,460,924,501 $4,747,859,631 6.43%
Sales Counts 16,341 16,419 0.48%

Note: Volume is the most important metric in a market. The fact that volume is not down from a year over year perspective is a reason for optimism.

Lee County Real estate after Irma: Pricing
Jan thru September YTD
Lee County Residential

Average Sold Price  $ 272,990 $289,169 5.93%
Median Sold Price  $205,000 $220,000 7.32%

Note: The pricing always seem to go up after a Hurricane. I think the lower price points have more cancellations.

Lee County Real Estate after Irma: Cash Sales Percentage.
Jan thru September YTD
Lee County Residential

Sales Counts in cash 6,849 6,680 -2.47%
Cash % 41.91% 40.68% -2.93%

Note: The cash sales percentage is still a very positive metric for the market.

Lee County Real Estate after Irma: October 2016 versus October 2017 Volume and Sales Counts

2016 2017 DIFF
Volume  $      376,077,728 $368,417,806 -2.04%
Counts 1,406 1,318 -6.26%

Note: Some of the sales counts and volume are from the previous month.

Lee County Real Estate after Irma: October 2016 versus October 2017 Pricing

2016 2017 DIFF
Average  $267,481 $279,528 4.50%
Median  $210,000 $215,000 2.38%

 

Lee County Real Estate after Irma: October 2016 versus October 2017 Cash Sales Metrics

2016 2017 DIFF
cash 540 484 -10.37%
Cash % 38.41% 36.72% -4.39%

Lee County Real Estate after Irma: Foreclosures:

From the October 2017 Lee County Foreclosure Trend Report

October 2017 Lee County Foreclosure Trend Report

Notes:

  • I have seen interviews with public and private individuals referring to a bump in the foreclosures.
  • You have to understand the timeline to understand the possible trends.
  • The earliest a foreclosure will be filed is roughly 90 days from today. Then you have generally a 6 month process.
  • Due to our high percentage of cash sales since 2009. It is unlikely to trigger a mass event like the end of the last cycle.

Lee County Real Estate after Irma: How do we compare to other storms?

Lee County Real estate after Irma Lee County Real estate after Irma Lee County Real estate after Irma

Notes: From a pattern perspective we are resembling Wilma the most. Time will tell if that is the case.
~ Stay tuned (subscribe and follow) for updates going forward. Reposted from 

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Real Estate Courses

Keeping your knowledge and skills up to date is one of the best ways of gaining an edge over your competitors, especially in a field as dynamic and technical as real estate and property valuation. And this applies to everyone; from professional realtors or hobbyist real estate investors. The bottom line, whether you’re a newbie in this industry and just getting started or a seasoned real estate guru, here’s a collection of reasons why you should invest in real estate courses.

Real Estate Courses: You Will Stay Relevant for Longer

There’s no denying that real estate is quite a dynamic and ever-changing niche. And in a fast-changing economy such as ours, staying updated is becoming increasingly challenging. As a result, it is necessary to enlist the help of professionals by enrolling in real estate courses to spruce up your knowledge and remain relevant. This means that you will also have access to some of the latest property valuation techniques and tools in the market. What’s more, it is also a recommended way of future-proofing one’s career.

Real Estate Courses: Unearth New Opportunities

The best way to develop and refine your real estate career or investment portfolio is by actively scouring for new opportunities coupled with regular networking. You can and will be exposed to new techniques and new methods via Real Estate Courses.

Real Estate Courses: Not Information Products.

Many high pressure information product salesman (gurus) use the seminars as a sales funnel. One leads to the next. Many of these types of events fail to give an actionable narrative to the attendees. This is designed to keep you spending money. I think, you should focus on Real Estate Courses that feature limited or singular topics. So many times when a SYSTEM is sold as Real Estate Courses. You end up with just one upsell after another.

One of the premier sources for real estate investing networking and education is the SWFL REIA. In the real estate world the SWFL REIA is different in that they do not do information product sales. Their meetings are focusing on the best ways of investing in real estate by collaborating with other property investors who are sharing their experiences.

We look forward to meeting you at a meeting soon!
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Finding Investors For Real Estate 

Finding Investors For Real Estate via local, safe and effective ways.

For decades now, real estate investing has provided one of the most predictable, safest and low-effort return of all of the most common investments.

In a low-growth world, with a volatile stock market, poor returns from bonds and interest rates at historical lows, more and more people are looking to invest in real estate. In lots of ways it is protected from political turmoil and the ups and downs of the economy so is a safe haven for cash.

Real Estate typically attracts conservative investors – people with a generally low appetite for risk but a particularly keen eye for a bargain and an interest in managing their money. These are clues as to where for look when finding investors for real estate.

The South West Florida Real Estate Investment Association (SWFL REIA) is a goldmine of contacts, information, education and advice. When finding investors for real estate you really won’t need to look any further. Working with the right kind of people is vital, which is why the SWFL REIA offers such value for anyone finding investors for real estate.

If you are interested in Finding Investors For Real Estate  here are a few suggestions based on the experience of the SWFL REIA…

Finding Investors For Real Estate: Real Estate Investing Clubs

Seek out your local real estate investing clubs. These are growing in popularity – stock clubs have existed for years, real estate clubs are also growing in popularity. Here you’ll find people from all over the real estate investment scene from developers to homeowners and people with extra cash to invest.

Finding Investors For Real Estate: Property Networking Events

Property events can be a goldmine. A meeting of minds and contacts is a great way to meet potential investors. Speaking to property lawyers, architects, planning department staff and the like is a way to ensure your contacts are good.

In real estate investing, knowledge really is power so having good contacts, good information and a wide network will really help you when finding investors for real estate.

Finding Investors For Real Estate: Real Estate Agents

There’s a good chance that agents will have a list of contacts – buyers who are always on the lookout for their next deal. Striking up a friendship with a reputable agent will give you access to a list of potential real estate investors. Seek out reputable real estate agents and work with them to secure access to a good number of real estate investors. Take your time to build relationships, seek good advice and you’ll find the right investors for you.

One of the premier sources for real estate investing networking and education is the SWFL REIA. In the real estate world the SWFL REIA is different in that they do not do information product sales. Their meetings are focusing on the best ways of investing in real estate by collaborating with other property investors who are sharing their experiences.

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

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October 2017 Lee County Foreclosure Trend Report

Here is the October 2017 Lee County Foreclosure Trend Report!

Where does the October 2017 Lee County Foreclosure Trend Report come from?

We download from public records and trend with microsoft excel.

Why do we generate reports like the October 2017 Lee County Foreclosure Trend 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.

Compiled and analyzed by: Jeff Tumbarello, Director

Trends at a glance:

Lis Pendens:
October 2017: 19 Mortgage related Lis Pendens.
September 2017: 60 Mortgage related Lis Pendens.
October 2017: 89 Mortgage related Lis Pendens.

Certificates of Title:
October 2017: 22 Certificates of Title were conveyed.
September 2017: 30 Certificates of Title were conveyed.
October 2017: 87 Certificates of Title were conveyed.

October 2017 Lee County Foreclosure Trend Report October 2017 Lee County Foreclosure Trend Report October 2017 Lee County Foreclosure Trend Report October 2017 Lee County Foreclosure Trend Report

Based upon the current trends. One would expect the distressed market will continue to not be a primary driver in the SWFL Real Estate market. Also, Bertrand versus US bank still has not caused a significant increase in filings.

We meet twice a month.

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One of the premier sources for real estate investing networking and education is the SWFL REIA. In the real estate world the SWFL REIA is different in that they do not do information product sales. Their meetings are focusing on the best ways of investing in real estate by collaborating with other property investors who are sharing their experiences.

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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