Investing Full-time Is Overrated

Posted by admin on August 27th, 2008 filed in Real Estate Investment

I’ve been investing in real estate full-time since I graduated from college 5 years ago. I guess you could say I did it part-time while I was also juggling college classes, homework, papers, and another student job. Now it only takes me an hour or so per day, so you tell me how to classify it now-full time? Part time? Who cares? I’m doing what I want to do with my life and I encourage everyone to do the same, whatever that may be.

At any rate, I’ve met a lot of investors who are itching to get to the point where they are making enough money in real estate that they can quit their 9 to 5 and invest full-time. This seems like the American Dream, but I will play Devil’s Advocate and be the one guy to point out the less glamorous side of investing full-time:

1) Living off your investments is not the same as retiring early. I’m all for retiring early, but real estate is an active investment. It has been described as a second job. It refer to it as running a business. It can be a very lucrative business, but for the most part it is going to require time and effort to stay on top of things. And in many ways, running a business is more stressful, with more responsibilities, risks, and obligations than having a job.

2) Say goodbye to any and all job benefits. Because I am self-employed, I had to pay cold hard cash each time we had a baby, about $5000-6000 each time, in addition to our regular monthly insurance premiums. What a joke! Our health insurance did not pay for a daggone thing. Meanwhile, my sister and everyone around me paid $25 here, $30 there for doctor’s office co-pays, and nothing more. The echoes of my grinding teeth can still be heard in distant parts of the earth.

Now, of course, if your business is making money hand over fist, you might think $5000 here and there is no big deal, but I can virtually guarantee that these kinds of bills will come due on a month when you’re running low on funds, waiting an eternity for some buyer to finally get qualified.

3) Are you doing what you love with your time? Are you going to invest full-time because you love investing, or because you want to make more money? If the answer is ‘more money,’ I challenge you to be true to yourself, and find a way to make more money in real estate part-time, and do what you love most of the day.

If you work smart, you can make enough money in real estate in a few hours each week to supplement even a low-paying job, like teaching school. Remember, real estate is just a way to have more of what you want in life. So what do you want?

4) Real estate is a cash monster. Investing requires cash-and lots of it. It doesn’t have to be yours, but it still has to come from somewhere. Few investors who don’t have enough private funds available can resist the temptation to use their own cash to do a deal. This is the beginning of the end.

No one will lend you money to pay your own bills, or your team, or your advertising, and every investor I’ve seen who starts using his own funds eventually runs out-especially those who sell houses by doing lease/options. It is an industry where unexpected surprises come along that tie up or cost us thousands at a time ($5,000 to clean up after a tenant here, $5,000 reduction in price when selling in order to make the deal work there).

It makes sense for a lot of people to work for their own income and let their investments compound and grow on their own, untouched. If you’ve ever read Mark Haroldsen’s book Financial Genius, he tells a good story that emphasizes the shame that goes along with ‘dipping into your capital’ for personal use. Whether you subscribe to that belief or not is up to you, but he does make a good point (unless of course you make many times more by working on real estate full-time).

5) How good are you at finding motivated sellers? How consistently have you been finding deals up until now? I have seen a few investors strike it big with one great deal, quit their jobs, and then fail to find more deals consistently and flounder as a result. This is why I’m not big on the Leave Your Doofus Boss in Only 90 Days philosophy. One or two deals does not a business owner make.

If I had a wife and kids to feed and were considering the jump from part-time to full-time, I’d make very certain that I’m 100% capable of finding at least one deal per month, having done it consistently for at least a year first.

6) Do you really have enough to do for 8 hours per day? Ron Legrand said once, ‘If you can’t make money part-time, you can’t make money full-time.’ Working part-time forces you to stay sharp and manage your time well. You are forced to delegate, because there is just not enough time in the day to try to do it all yourself. You use your time wisely and do more deals in less time.

I have seen a lot of full-time investors get stuck doing things like fixing up houses themselves, driving around looking for junkers, etc, because they figure ‘I’ve got the time.’ If that’s what you truly enjoy doing with your life, then great.

If not, may I suggest a third alternative: Invest in real estate part-time until you can run your business successfully in just 1-2 hours per day. Then, if you are determined to do it full-time, but are happy with the income your are already making, then do it full-time but continue to work on it for only 1-2 hours per day. What should you do with the rest of the day? Whatever the heck YOU want to do with your life.

By: Alan Brymer

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Alan Brymer has been a full-time investor since the age of 22, and speaks at seminars and investor groups around the country. He is a frequent guest expert for the news media, having been featured on multiple television programs and magazines asa real estate and business expert. To read Alan’s Articles and Blog, go to www.AlanBrymer.com.

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Safe Or Risky: No Money Down Real Estate Investing

Posted by admin on August 24th, 2008 filed in Real Estate Investment

One of my blog’s readers made an interesting comment recently when he said, "Sure you can do no money deals, but they are a lot riskier for newcomers." I think that he hit on an excellent topic to expound upon, risk level with no money down deals.

At times, real estate investing gurus glamorously inflate the value and theory of "Nothing Down" deals without giving newbies a solid understanding when evaluating them. This leaves people mistakenly thinking that any "No Money Down" deal equals a good deal. WRONG!! Just because you can buy someone’s house for what’s owed and take over payments, get an owner to finance all of his equity over time, or get a loan to cover all your costs doesn’t automatically justify doing a deal.

Here’s a few questions to consider: What percentage of value would I be buying this property for? Is the property located in an acceptable area? What condition is the property in? Is the interest rate on the underlying mortgage or new owner financed mortgage adjustable? Is there a balloon? Am I just taking over someone else’s problem?

The risk level of any deal is going to be greatly influenced by two things:

1. Buying Criteria
2. Exit Strategy

Our Buying Criteria

For an all cash offer, which can be a "No Money Down" deal if you bring in a loan to pay for all costs associated with doing the deal, the property must be purchased below 70% of value. That is, ARV (after repaired value) minus repairs multiplied by 70%.

If we are able to structure some owner financing, buying subject to and/or getting an owner to finance his equity, we will go upwards to 80% of value depending on the condition of the house, the terms of the financing, and the amount of cash that will be sitting in the deal.

We have a sliding scale based on repairs a property needs and what we will offer. The more repairs needed, the less we are willing to offer regardless of how the deal is structured.

Your buying criteria may be very different from ours but make sure that you are not lured into a deal that doesn’t fit your model just because it’s "No Money Down." Establishing your buying criteria is an important step for any investor so you don’t ever become emotionally involved with a property. Either it fits your buying criteria or it doesn’t!

Exit Strategy

"No Money Down" or not, if you only have one exit strategy to make a deal work, it’s risky. Flipping a property is the most expensive and risky selling strategy as a real estate investor, especially if that is your sole exit strategy. When you plan on flipping, I would suggest being very conservative with your ARV and over estimate the repairs needed. This way, you hedge against the risk involved with the deal.

3 Quick Tips to Safeguard Your Success with "No Money Down" Deals

1. First and foremost, make sure you’re not just taking someone else’s problem off their hands. As soon as you buy it, now it’s your problem. And if you pay too much for it, you won’t have a profitable way out.
2. Know your buying criteria! This will help you stay unemotional when evaluating a "Zero Down" deal.
3. Plan multiple exit strategies. One way to do this is simply buying a property far below what it’s worth. Worst case scenario you could unload it to another investor and still make a good quick profit.

By: Patrick Riddle

Article Directory: http://www.articledashboard.com

Patrick Riddle has done over 100 deals since he started investing just over 5 years ago. He is considered an expert in creative real estate investing techniques, lease options, short sales, and recruiting private money. He has raised over $6,000,000 in cash from private investors for his company. Being a teacher at heart, he enjoys writing for his blog, MustKnowInvesting, The ‘Best Darn’ Creative Real Estate Investing Blog on the Planet.

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Real Estate Market Crash Effects Divorces

Posted by admin on August 21st, 2008 filed in Real Estate Crash

Pick up any newspaper today and you are likely to see at least one article or sidebar discussing the mortgage crisis. While there are still a few markets that have remained relatively untouched by the crash of the subprime market, most areas throughout the country have felt the impact in some way or another. As a result, there are few homeowners that have not felt the pinch of the crash. The ability to move on with life is being greatly impacted by the souring market for many consumers. Divorcing couples, in particular are finding that real estate market problems are preventing them from moving on with their lives.

It is not uncommon for many couples who are divorcing to sell the family home so they can take the proceeds of the home and then go their separate ways. As the number of homes sitting on the market in most areas continue to climb; however, most couples are finding it difficult if not impossible to sell their home. When the home does not sell, this has a direct correlation on the cash flow for the couple. A number of areas are impacted as a result including child support. Quite surprisingly, this problem is even impacting where divorced couples are able to live once the divorce becomes final.

As a result of these problems, there has been a significant rise in a trend known as post-marital cohabitation. While in the past it was practically unheard of for couples to continue to live together following their divorce, many people today are finding they have little choice when they are not able to sell the family home. Quite simply, they cannot afford to live anywhere else until the family home is sold.

As the average sell time for most homes increases, this means that many divorced couples may find they must continue to live together for several months; in some cases a year or more. Older couples who are living on a fixed income are finding this to be a particular problem as are couples with young children. In the case of the latter, the only options they can afford are simply too small for the size of the families.

In situations where couples simply can no longer abide living with another, they find themselves forced to live elsewhere even if it means moving in with family members.

Regardless of the situation, couples in such situations find they have limited options available to them. In situations where the couple is upside down because the value of their home fell after the housing boom ended, they must decide whether it is better to remain in the home until the market improves or try get out with a short sale. Other families are finding themselves facing foreclosure when they simply are no longer able to make mortgage payments.

The arguments over what to do with the family home have escalated to the point that in many cases judges are being put in the middle to sort matters out. This is particularly common in situations where one person wants to remain in the home until the market improves while the other wants to go ahead and sell the home even if it means doing so at a loss. In most situations judges are hesitant to issue orders to sell the home, assuming that the market will eventually rebound.

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Managing Money During a Flip

Posted by admin on August 17th, 2008 filed in Flipping Property

Money management during any real estate investment venture is an essential skill. If this is your first time flipping a property it is probably more important on the first flip than any other as you need to fully realize how much things cost and how quickly those expenses can up. It is so simple for the budget on a house flip to get completely out of control. For this reason you need to take control of the financial situation from the very beginning.

Begin by establishing a realistic budget for the entire project. If you find yourself spending more money in one area than you had originally planned you need to either revisit the initial budget and plan for adding more money to the pot or you need to make cost lowering adjustments elsewhere along the way to recover the excess. You will need to have a firm idea of the projects you are going to tackle, big and small, as well as the costs involved in each project. Take a walk through a hardware store and get a firm grasp of today’s prices on the hardware, equipment, and supplies you will need to complete the job.

Use contractors when necessary but sparingly. There are times when it will cost much less to use a contractor on a project than to muddle through on your own. There are also times when local laws require a contractor. You need to use contractors for these times but you need to avoid paying the princely labor costs contractors charge for things that you could easily do yourself. You never want to spend a penny on a flip that you don’t need to spend and labor costs are a huge budget buster.

Get permits first and up front. Time is money when you are flipping a house and once you start the work that time is precious. Make sure you have all the permits you need and that they are paid for before you begin the project in order to save time and money after the project has commenced.

Then create a habit of accounting for every penny spent throughout the day at the end of every day. This becomes a good habit to have for your first and all subsequent flips. By doing this you will have a solid grasp of how much money you are spending as well as how quickly you are spending it. You will need money to spend on little things throughout the course of the project so if you are spending money too fast up front you may not have the money needed to take care of the small details that mean a lot when all is said and done.

One huge way to better manage your money during a house flip is to make a conscious decision and consistent effort to work according to your tastes. Chances are quite good, especially for a first flip that you will be working on a house for those who have less financial means than you may have. For this reason you need to keep your project within the budget of your buyers. This will save tons of money. In other words a lower income community cannot absorb the costs of granite, marble, and hardwoods in most situations so don’t go to that expense.

In order to turn a solid profit when flipping a house or doing any type of real estate investment you absolutely must have a firm grip on your money, where it is going, and what your plans are for the money. The less money you spend the more money, in many cases you stand to bring home in profit. Spend the money you need to spend in order to improve the value of the home but avoid luxury expenditures that aren’t necessary for the neighborhood or the home in question in order to maximize the potential profits you can bring home.

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Real Estate Investing in Rental Properties

Posted by admin on August 11th, 2008 filed in Real Estate Investment

There are many ways in which a person can make a living when it comes to real estate investing some of them carry more risks than others. It goes without saying that those that carry the greatest risks are often the very real estate investment methods with the highest potential profit but slow and steady, in many cases, wins the race. Flipping houses is in the news a lot because so many fortunes have been made doing this-more than a few have been lost in this venture as well but those don’t make the news nearly as often.

Working with rental properties isn’t nearly as glamorous and doesn’t provide the almost instant profits that flipping houses might but it is also a great and very valid method of real estate investing that will build a steady profit over time if you plan properly. Rental properties are in demand now more than ever with so many people going into foreclosure and losing the homes they’ve worked hard to build for their families. For this reason rental properties are a good thing to own at the moment, especially those that are family homes.

There are many reasons that people rent and while there are some risks involved when renting properties, the risks are much lower than the risks involved in flipping or pre-construction investment endeavors. There are a few things you should consider when purchasing a property for the sake of renting however in order to make a wise and long lasting decision for your real estate investment.

First, only invest in rental properties in areas that people want to live in. It may be true that you can buy property cheap in a few very run down sections of town but it is doubtful that you will turn those properties into profitable rental units. It is best to pay a little more for a more attractive address for renters. You will find that your properties are inhabited more often, which will make you more money in the long run.

Second, pay attention to the types of people in the area and buy rentals accordingly. It is quite possible to turn large homes into multiple smaller apartment units (according to local zoning laws) that are ideal for college students. You do not want to do this however in an area that is geared towards family homes and won’t be friendly or tolerant of college students. Design the rentals according to the market you are attempting to attract.

Third, don’t be greedy. The goal of owning rental properties is of course, to make money. At the same time if your price your properties too high you will find that they sit empty more often than not. Every month that your property is empty is a month that you aren’t making money on that property at best and a month that you are losing money at worst.

Fourth, know the market. Study the local market for buying real estate and renting real estate. This will help with many things, not the least of which is determining whether or not any given property will make an attractive rental unit. Another thing it will help you determine is how much rent the units you are considering can bring in month after month.

Finally, when renting properties you need to keep your eye on the long-term goals rather than shortsighted goals. Property rental is a marathon rather than a sprint with the greatest profits coming at the end. You will want to pay as little interest on the property as possible and pay the property off as quickly as possible in order to realize the maximum profit potential and acquire new properties. The real money when renting properties as a real estate investment isn’t in renting out one or two units but twenty or thirty. The more rental properties you own the more money you stand to make from owning them.

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Multiple Streams of Income in Real Estate Investments

Posted by admin on August 10th, 2008 filed in Real Estate Investment

It doesn’t really matter what kind of investing you are participating in, it’s almost always a wise idea to have multiple streams of income in order to maximize your profits while spreading your risks. Even within the confines of real estate investing there are different types of investing that can help you spread your risks when markets meet turbulent times and this is a very good safety net for those who do not want to feel as though they are gambling away their investments on a real estate market that is fickle on its best days.

You really have two course of action when it comes to bringing in multiple streams of income when building your financial portfolio. The first is to spread your real estate wealth and investments across several different types of real estate investments. There are a few types that come immediately to mind. First there are rental properties. You have two options even with these. You can either choose to rent properties outright to families, students, singles, and the elderly in your town or you can offer a lease or rent to own situation for those who have struggled in the past but still have the dream of home ownership.

Other options for bringing in multiple streams of income through real estate is to have a few rental properties and couple those with a few flips in the works, perhaps a commercial property or two, and a pre-construction deal or vacation condo in the pipelines. One thing is certain you should always be on the lookout for your next real estate investment if you really want to make good money in this business while having a little added security. Rentals are passive income for the most part, especially if you have a solid property manager taking care of the details and the other investments are often icing on the cake.

If you want a truly diversified portfolio however, it is a good plan to include a few investments that aren’t related to real estate investing. While I firmly believe that real estate investing is the way to go for most people there is much money that can be made in other fields and it would be pointless to discuss multiple streams of income without mentioning a few that were unrelated to real estate investing. Retirement plans are a great option and you can now invest in a retirement plan of your own even if you are self-employed. It is definitely worth considering as yet another stream of income, even if it is income that you will need to wait a while to receive. Franchise businesses are often great money makers for those who need more immediate results from their investments efforts, and stocks and bonds are also great long term investment strategies.

The truth is that there are many things you can do to create even more streams of income to add to your real estate investments. From making money online through affiliate marketing, blogs, and direct sales you can also tackle brick and mortar businesses, though these tend to be just as time consuming as real estate. The point is that you want to bring in money from different avenues and real estate investing is one of many different routes to explore when deciding on your investment future and establishing those multiple streams of income.

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Being Creative - No Money Down Investing Strategies

Posted by admin on August 8th, 2008 filed in Real Estate Investment

There are a lot of books and programs that talk about doing real estate with "no money down", but it is important to understand what they are talking about here. If someone says nothing down strategies don’t work, it just means they don’t understand what nothing down means or how to do it.

The term ‘no money down’ doesn’t mean ‘no money is transacted’, it just means that someone else’s money is transacted. It doesn’t come out of your pocket, piggy bank, or savings account.

In fact, people without a lot of personal cash or savings are sometimes better off because they have to approach the real estate investing business differently. They start off on the right foot to making money faster than those that use conventional methods such as a traditional bank loan and/or putting down a large chunk of their own money simply because they have to.

When you are starting out and don’t have a lot of investment capital, you will want to target properties you can buy without having to get a loan in your own name. As a creative real estate investor you will want to look for motivated sellers so they are willing to work with you using creative financing methods so you don’t have to get a loan or put up a large down payment.

Sometimes having a lot of money is a detriment because those who aren’t forced to be creative miss out on creative real estate deals. Even if you have a lot of money start being creative. No matter how much you have, if you keep tying it up in real estate purchases you’ll eventually run out. This is why you will sometimes hear about seemingly successful investors that are "equity rich" but still "cash poor". They have all these assets on paper and are still living check to check.

In addition to creative ways of getting money there are many creative real estate strategies that are essentially no money down methods. Some examples are real estate assignments including flipping and wholesaling, Subject to arrangements, and certain lease options strategies.

Especially if you are starting out and don’t have a lot to work with, one of the best ways to make quick cash is by learning to assign or flip houses. This will allow you to eliminate a lot of inherent risks since none of your own money or credit is at risk and you never take ownership of property. With current real estate trends this is also one of the best routes to take and no matter how you define it, when done correctly it is a solid creative no money down real estate solution.

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Commercial Real Estate Investing

Posted by admin on August 7th, 2008 filed in Real Estate Investment

The financial industry greats will be the first to tell you that real estate investing has the potential to bring in serious profits. They will also gleefully inform you that the risks in some cases far outweigh the potential, especially if they are among the more cautious investors in the industry. Those who have made their fortunes in real estate however will tell you that investing in real estate is worth every ounce of risk when you manage to work through the rough patches and find your way to real estate investing fortunes.

Commercial real estate is somewhat unique among real estate investment types. This is the type of real estate that requires a high investment to get into the game, much higher than most residential property and poses equally great risks depending on what you plan to do with your commercial real estate investment. Of course you will also find more than a few options for your commercial real estate investment that many investors find appealing.

Most investors find leasing office or building space to be the safest route to take when it comes to real estate investing is the path of leasing office space or warehouse space to businesses. They feel that this is a relatively steady source of income because most businesses prefer to keep their locations as long as possible. Smart business owners are well aware that customers, clients, and vendors need to be able to find them in order to do business with them and for this reason, prefer to keep their business in the same location whenever possible rather than reestablishing themselves in different locations year after year.

Commercial real estate investing is a bit of a different animal than traditional residential real estate that many of us are more familiar or comfortable with. You will need to do a lot of research before jumping in with both feet with this particular sort of real estate investment. Commercial real estate investments can take on many forms. From strip malls and outright shopping malls to business and industrial complexes to sky scrapers and high rise condos you will find all manner of commercial real estate interests. Whether your interests lie in business or personal types of commercial real estate there are significant profits that stand to be made.

Unfortunately, beginners often find the path to commercial real estate investing laden with thorns. You will need a massive contribution to fund your commercial real estate pursuits and it is probably best if you can find a group of investors in order to share some of the risks. Real estate, in and of itself, is a high-risk venture. Commercial real estate bears a little more of the risks in the beginning however once you’re established and people, particularly investors, know your name you will find that path to real estate wealth is much easier obtained through commercial real estate, if you play your cards right than many other types of real estate investing.

To create even bigger profits it is often best to work as part of a team of investors when it comes to commercial real estate investing. Not only does this approach spread out the risks to some degree but also helps find the good buys, spreads the labor pool, creates an environment of ideas, and allows you to bounce those ideas off one another seeking temperance and enthusiasm for members of your investment group in like measures. It is a great idea for those who are looking to build a prosperous future in the field of commercial real estate investing and can be extremely profitable for all involved.

Commercial real estate investing can be extremely intimidating if you allow it to be. Avoid putting yourself in a situation where you feel out of control or completely uncomfortable for your first commercial real estate investment but if you have the means, the price is right, the deal appears to be solid, and you feel you are ready for the challenge, commercial real estate profits can be a serious motivation.

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Creating a Profitable Investment Team

Posted by admin on August 6th, 2008 filed in Real Estate Investment

Once you start building your business, finding opportunities and potential investments, you’re going to realize you can’t do it all on your own.

One of the biggest traps beginning investors fall into is that they try and do everything themselves. They think they will just get one deal done to make some money then build an investment team. Unfortunately, what usually happens is they get stuck trying to learn and do everything in a limited amount of time, then get discouraged by either getting no results, getting scammed or burned from doing it wrong then eventually giving up.

It is important to understand you need to work smarter not harder. This is the only way to run a successful investment and real estate investing business. Not only will this make it more profitable but also more enjoyable!

Though you will not need everyone for investment strategy you are focusing on, here are the top ten you should establish relationships with when you are starting out (in no particular order):

1. Home Inspectors
2. Insurance Agents
3. Mentors
4. Mortgage Brokers
5. Property Management Companies
6. Real Estate Agents
7. Real Estate Appraisers
8. Real Estate Attorneys
9. Rehab Crews
10. Title Companies

When putting together your investment team, here are some guidelines to follow:

1. Make sure you work with those that have experience working with investors similar to yourself. For example, a real estate agent that primarily works with clients buying apartments when you are flipping or wholesaling single family homes will probably not be a good fit.
2. Make sure they have experience working in the area where you are investing.
3. They should have at least 2-3 years of full time experience in the area you are hiring them for.
4. Don’t depend on just one in each category. For example, having 2-3 agents, brokers and inspectors will give you more flexibility, a larger network of contacts, and more competitive options for different investing circumstances.
5. Always ask for referrals so you can expand your team using the best people.

The bottom line is: The more you utilize the expertise of those around you, the more lucrative and *easier* your business will be. Period. So whether you choose long term buy and hold strategies or quick cash strategies like wholesaling houses, you will be well on your way to achieve the fastest and most aggressive results possible. Remember to work smarter not harder!

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Tips for Selling your Home during the Real Estate Market Crash

Posted by admin on August 5th, 2008 filed in Sales Tips

Many experts are advising that it may be best to wait before you try to sell your home in the current market. There are certainly many reasons for this type of advice. The market in most areas remains rife with inventory. Prices have not yet stabilized and as a result many markets are continuing to experience price declines. This is not expected to change at least for several months. In some cases it could be next year before markets begin to stabilize. Thus, the theory exists that it does not make sense to sell at the moment when markets could likely stabilize soon. In some situations; however, sellers may not be able to wait before they sell. If they are facing a foreclosure, medical situation or must relocate for work; there simply may not be any other alternative but to attempt to sell their home in the current market.

If you find yourself in this type of situation, then it is important to know what you can do to sell your home in the current environment despite the real estate crash. The first thing of which you should be aware when selling in this climate is that caution should be exercised with home improvements. Just a few years ago sellers could expect to recoup quite a bit of money for making home improvements when they sold their properties.

This is no longer the case. In fact, many experts are now pointing out that buyers are more interested in homes that are clean, neat and presentable than homes that are high-end. The most common mistake that many sellers make when selling their home in the current market is adding the cost of the remodeling to the sales price. Essentially, these sellers are asking the buyers to pay for the cost of the remodeling. While this might have worked in some markets a few years ago, it simply will not today.

Therefore, before you make any improvements to your home for the purpose of selling it, it is a good idea to seek professional advice. Ideally, this should be done a few months before you plan to put the home on the market. By seeking professional advice, you can learn where to spend your money to get the most bang for your buck. In most cases this will be paint and flooring; however, this can vary from market to market.

Another area that can be worth it to spend the money is obtaining a home inspection before the property goes on the market. In the past, home inspections were not performed until a contract was actually on the market and then it was paid for by the buyer. In today’s market; however, buyers have the luxury of being more selective. Obtaining a home inspection can set your home apart from the rest and provide peace of mind to buyers.

In addition, you should make sure you pay attention to the exterior of your home as well as your lawn. Siding and windows, in particular, are an important area on which to focus.

While in the past, kitchens were a major area on which to focus for home improvements because most sellers could expert to recoup most if not all of the cost, this has also changed in light of the existing market. Unless you cannot avoid it, replacing dishwasher, stoves and refrigerators is not advisable.

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