Bloggers,
Have a safe and Happy New Year,............ May you hit the ground running, and make this your best year yet.
Happy Investing,
Gil Yanez
Saturday, December 31, 2011
Monday, December 12, 2011
Current Market Value, After Repair Value, ect , ect
Dec 12th, 2011
Bloggers,
Often you will hear in investors lingo, CMV, ARV, ect. What does it mean, and how are they used?
Current market value, means just that. What the property is currently worth in todays market.
This can be found through COMPS,.....( there is another one,...it means Comparables. As in comparing homes to each other and what they sold for,.) done either with a Realtor, ( the most accurate way ) or through a number of automated COMP websites.
ARV? After Repair Value. What is the home worth after it has been repaired. Often times, CMV and ARV mean the same thing. That is since most homes sold are sold in MOVE IN READY condition. There is another one. Meaning, no work needed, and ready to MOVE INTO.
If there is a difference in price among the COMPS you have researched it may mean that one of the homes may have needed work and was sold as a fixer. ( Oops, there is another one,..Fixer meaning, FIX UP,..) In these cases, make sure to read the listing description to get a more accurate picture.
You will see as you learn the lingo that you are learning Real Estate Investing as well. Being current in Investment Speak means you have been reading and researching and are on your way to understanding what sometimes seems like a very muddled field. But in reality, once the mystery is gone, it is really quite simple.
Feel free to contact me with any questions,............
YanezUnited
Beach Front Properties on a Budget,....
Bloggers,
Often you will hear in investors lingo, CMV, ARV, ect. What does it mean, and how are they used?
Current market value, means just that. What the property is currently worth in todays market.
This can be found through COMPS,.....( there is another one,...it means Comparables. As in comparing homes to each other and what they sold for,.) done either with a Realtor, ( the most accurate way ) or through a number of automated COMP websites.
ARV? After Repair Value. What is the home worth after it has been repaired. Often times, CMV and ARV mean the same thing. That is since most homes sold are sold in MOVE IN READY condition. There is another one. Meaning, no work needed, and ready to MOVE INTO.
If there is a difference in price among the COMPS you have researched it may mean that one of the homes may have needed work and was sold as a fixer. ( Oops, there is another one,..Fixer meaning, FIX UP,..) In these cases, make sure to read the listing description to get a more accurate picture.
You will see as you learn the lingo that you are learning Real Estate Investing as well. Being current in Investment Speak means you have been reading and researching and are on your way to understanding what sometimes seems like a very muddled field. But in reality, once the mystery is gone, it is really quite simple.
Feel free to contact me with any questions,............
YanezUnited
Beach Front Properties on a Budget,....
Saturday, December 3, 2011
Investors,.....Make Offers,.........Plenty of them,.........
bloggers
One thing many successful investors will tell you is,......."Make Offers,.....You will not make any money if you don't,."
I have had previous experience representing Investors who never made any offers on the countless properties i would bring them. Weeks would go by without any forthcoming offers, and of course by that time it was too late. You are probably wondering how it went. For them, not good. For me, it helped learn the warning signs of someone that is just going to spin your wheels and not do anything for you. As a representative, an Investors Realtor, you need to know when to cut people like that loose.
But this is not an lesson for Realtors who are representing Investors, it is a word of advice to the new investors who are going to start going after their goals. Be aggressive and go after the properties you are looking for. Make educated offers on properties with declining values and many days on market. Find a good Realtor that will actively seek these properties for you, ( if investing off the MLS ) and make it a worthwhile partnership.
Do not waste anyone's time, if you are using the assistance of a professional , be one as well, and take your work seriously. An Investors job is to submit offers and try to make a deal. If your not making offers,...................
YanezUnited
Investment Properties in So CAL
One thing many successful investors will tell you is,......."Make Offers,.....You will not make any money if you don't,."
I have had previous experience representing Investors who never made any offers on the countless properties i would bring them. Weeks would go by without any forthcoming offers, and of course by that time it was too late. You are probably wondering how it went. For them, not good. For me, it helped learn the warning signs of someone that is just going to spin your wheels and not do anything for you. As a representative, an Investors Realtor, you need to know when to cut people like that loose.
But this is not an lesson for Realtors who are representing Investors, it is a word of advice to the new investors who are going to start going after their goals. Be aggressive and go after the properties you are looking for. Make educated offers on properties with declining values and many days on market. Find a good Realtor that will actively seek these properties for you, ( if investing off the MLS ) and make it a worthwhile partnership.
Do not waste anyone's time, if you are using the assistance of a professional , be one as well, and take your work seriously. An Investors job is to submit offers and try to make a deal. If your not making offers,...................
YanezUnited
Investment Properties in So CAL
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