How to Start and Manage a Property Management Business

Related Blogs

Read the rest of this entry

Consider expanding your service offerings to include mortgage services.  Mortgage services are extremely profitable.  Many states only require one or two courses to get licensed, and you may be able to use the loan officer course to get MCE credit for your real estate license.

You probably have a large pool of prospective investors with adjustable rate mortgages who need to refinance their mortgage. Why refer this business, when you can easily provide this service. You already have an established relationship with each owner.  If you own your office, you may even consider subleasing space and partner with a mortgage broker. Our in house mortgage broker pays us rent and refers real estate and property management business to us. This drastically lowers the overhead cost for both companies.

Read the rest of this entry

A real estate appraisal is simply an unemotional look at the property by an unattached professional, and takes into consideration factors that most homeowners would not.  We tend to base our opinion on something like what the neighbor got for their house, and how much better we know our house to be than theirs was.  Or, we err on the side of just knowing there is no way in the world that our house is worth so much!  But the fact is, without knowing the market conditions and key data, we really have no good idea what a property is worth.

Whether buying, selling, or refinancing your home, a real estate appraisal is an important part of the process.  It is not simply just another expense in the process, it is a validation for all parties that the deal is sound, and that nobody will wake up the next morning feeling sorry for what they have done.

We need to face reality.  As a homeowner, most of us will have an emotional perspective when we consider the value of our current, or “we hope to soon be our current” home.  That emotion can get you in all sorts of trouble, and set you up for disappointment.  In order to avoid over-financing, or under-pricing, we need a real estate appraisal.

Read the rest of this entry

We’ll have a look at what benefits there are to a fixed rate mortgage for you.
We’ll then look at using a mortgage overpayment calculator.
Security comes with the fixed rate mortgage, whereas huge savings can come with the overpayment calculator.

There are a few different types of mortgage, the fixed rate mortgage being only one of them.
You get a fixed interest period for several years.
Locked in interest rates mean locked in monthly payments.

Are there any benefits to a fixed rate mortgage?
Your payment is fixed because your particular interest rate is fixed.
It’s a lot easier to plan financially knowing your payment will be the same.

Read the rest of this entry