Sample Real Estate Profile For LinkedIn

real estate profile for linkedin

Here’s an example of a real estate profile for LinkedIn . . . or for any other social media platform that you’re using to building your online real estate presence.

It can be used whether you work in residential or commercial real estate.  This sample real estate profile for LinkedIn is also good for both companies and individual real estate agents as a lead-in for your professional bio.

Real Estate Profile For LinkedIn

[Your company name] is a full-service brokerage serving the Greater [Your city] area.

Our brokers specialize in all asset classes of real estate including: single family, multifamily, mixed-use, retail, office, industrial, special use, property valuations, property management, fix-n-flips, JV equity sourcing, and note sales.

[Company] works with real estate investors of all sizes – from experienced private investors to beginning real estate investors.

We know from our years of experience in the business and successfully closing hundreds of transactions that maximizing the return on your real estate investment in [City or Market]’s competitive real estate market takes more than just one person.

That’s why [Company] utilizes a unique, integrated team approach when buying or selling real estate on behalf of our clients.

While other real estate brokerages in [City or Market] limit the opportunities that their clients see, [Company] thinks outside of the box. We understand the power of team work and cross-marketing.

Our proprietary global network of over 150,000 active investors allows us to reach as many qualified buyers and sellers as possible, as quickly as possible.

[Company] combines today’s high-technology with an old school, hands-on approach.

We’ve built our solid reputation in the [City or Market] real estate market the old fashioned way . . . one client at a time.

[Broker-specific copy goes here]

Three First Time Home Buyer Tips

first time home buyer tips

Buying a home isn’t as easy as it may seem.  Here are a few first time home buyer tips to make the process go smoothly and to help save on housing costs.

First Time Home Buyer Tips #1

It’s better to buy a smaller home in a neighborhood that you love, instead of a bigger home in an area that you don’t like.

There once was a couple who bought a new home that backed to a major highway.  Of course there was a lot of traffic noise.  But they figured it wouldn’t be a bother since they didn’t spend that much time outside.

Six months later they put the house on the market for sale.  Not because it had appreciated in price, but because they couldn’t stand living there.

They were so desperate to move, they were even willing to sell at a loss!

Two Are Better Than One

Although bigger isn’t always better, it is when choosing the number of bedrooms in your new home.

That’s the second most important of these three first time home buyer tips.

First time buyers tend to think only of their personal situation rather than how easy the home to be to re-sell.  Buyers who have a family, or are looking for extra space to rent out as a vacation rental property on websites such as  Airbnb, will automatically pass over a smaller home for sale that has only one or two bedrooms.

Creative Financing

Sometimes you have to be creative and think hard about how to make the best offer in a seller’s market.

As attractive as they might seem at first glance, interest-only loans can end up being a big problem for the first time home buyer.

Many people are used to a real estate market that only goes up.  But history shows that all markets – real estate in particular – run in cycles.

Financing with an interest-only loan means that none of the principle is getting paid off, and that the borrower thinks that interest rates will always be low.

Because interest-only financing options are for short periods of time, the buyer may end up having to re-finance the loan when interest rates are beginning to rise.

 

Does Buying Foreclosure Real Estate Make Sense?

buying foreclosure real estate

If you believe what you see on television, there’s a lot of money to be made in buying foreclosure real estate and flipping real estate.

But as with most things in life, if it was that easy everybody would be doing it.

Here are some of the things to think about before buying foreclosure real estate.

Is Foreclosure Real Estate Really A Good Deal?

Another word for bank owned property is REO – or real estate owned property.  But no matter the name, inexperienced real estate investors think that if the bank is selling it, then the foreclosed real estate must be a good deal to buy.

Usually that’s not the case.

When a bank sells an REO property to someone buying foreclosure real estate, the bank does an appraisal first.

The bank definitely wants to recover the loan amount that was on the property.  But the bank also wants to sell the property at fair market value.

People buying foreclosure real estate mistakenly think they will have instant equity.  They assume that all the bank wants to do is recover the old loan amount and nothing more.

This might sound good on TV, but that’s now how things work in the real world of foreclosure real estate investing.

Foreclosed Real Estate Needs Repairs

Perhaps one of the biggest cons in buying foreclosure real estate is that the property will need a lot of repairs and updating.

Owners who get foreclosed on sometimes take as much as they can with them.  The vacated property will be without appliances, mechanicals such as heating and air conditioning, and fixtures.

Investors buying foreclosed real estate need to carefully calculate the costs needed to bring the property into a condition for renting or resale.

 

Rate Hikes, Credit Scores And Real Estate

credit scores and real estate

Recently a reporter reached out to me to talk about a client project I was working on about the relationship between rate hikes, credit scores and real estate.

Here’s the link to the published article:  House Loan Blog – Changes To Credit Score.

Credit Scores And Real Estate

Credit scores and real estate work together to affect the price of real estate along with the rent that a landlord charges for income property.

There’s definitely a relationship between interest rates, credit scores and real estate.  But often times it isn’t what the general public believes.

Professional real estate investors know this, and are able to leverage these three factors to make their real estate investments a success.

Credit Scores Increase Real Estate Prices

Real estate prices actually increase as credit scores increase.

While at first glance this might seem counter-intuitive, there’s a reason that this occurs.  As credit scores increase buyers can qualify for a higher-priced property.  This in turn allows sellers to raise the price of the real estate that they’re selling.

Rental Rate Hikes Can Be Tricky

Higher credit scores also allow landlords to raise rents.  But doing this is a little trickier than simply raising the price of real estate for sale.

That’s because landlords and property managers of income producing real estate need to be aware of the time and expense of turning a rental property.

Also known as a ‘unit turn’, turning a property refers to the delay between the time an old tenant leaves and a new tenant leases, along with any repair or updating expense the property needs.

For example, let’s say the current rent on a unit is $1,000 per month and the new rent will be $1,100.  That’s a 10% increase per month, which isn’t bad.

But if the property ends up sitting vacant for two months during the unit turn there is a short-term rental income loss of $2,000 plus the cost of any needed repairs or updating.

 

 

Three Tips For First Time Landlords

tips for first-time landlords

Owning and renting real estate is one of the best ways to create wealth.  If you’re just getting started in real estate investing, here are three tips for first-time landlords that will help make your real estate investment a success.

Great Tips For First-Time Landlords

First, always charge prospective tenants a small fee for processing their application to rent your property.

This is the most important of the three tips for first-time landlords.

Collecting a small fee serves two purposes.  First, it covers the actual cost of running a credit report, verifying the tenant’s income, and doing a background check.

But just as importantly, it weeds out prospective tenants who really aren’t serious about renting your property.

Experienced property managers will tell you that there are actually people who go around town pretending to be tenants and applying for property that they have no intention of renting.

Never Negotiate On The Rent

Negotiating on the long-term rent with a tenant almost always backfires on a new landlord.

That’s because if you give the tenant a reduced rent, they will come back for more . . . and more, and more.

This is the second most important of the tips for a first-time landlord.

Now, in order to not negotiate on the rent, the rent has to be based on comparable rentals in the area.  This means the landlord needs to survey the market and set a fair rate for their rental real estate.

Know The Landlord-Tenant Law

Some markets are landlord-friendly, and some are tenant-friendly.

Sometimes this varies by asset class as well.  In a given area the laws could be tenant-friendly for residential real estate, but decidedly landlord-friendly for commercial real estate.

Or there may be ways for tenants to break a lease that will catch you completely off guard.

As a first-time landlord it’s important to know the landlord-tenant law for both the market and the property class that you own, operate, and rent to tenants.

Five Tips For New Real Estate Agents

tips for new real estate agents

Whether you work in residential or commercial real estate, it an be tough getting started in the business.  Here are five great tips for new real estate agents just starting out.

Proven Tips For New Real Estate Agents

One of the most important tips for new real estate agents is to start part-time.

That doesn’t mean putting less effort into your new real estate career.  What it does mean is to make sure you have enough income coming in while you’re ramping up your new business.

The last thing you want to do is to run out of money just before the big dollar real estate sales commissions start flowing in.

Focus On One Area

The second most important tip for new real estate agents is to focus on a single area to work in.

This could mean a specific neighborhood, zip code, or even a single building in your city.  It just depends on what real estate market you are working in.

Focus On One Product Type

In real estate there are different product types or asset classes.  Single family, multi family, free standing commercial, and multi tenant retail buildings are a few examples.

The third most important tip for a new real estate agent just starting out is to focus on a single type of real estate.  Then, become an expert in that asset class for your chosen marketing area.

Do What Fits Your Personality

Most brand new agents fresh out of real estate school begin by selling resale homes.  But that’s not always the smartest choice.

Understandably new real estate agents make this choice because there is more inventory in the resale market than in any other segment.

But selling homes may not be the best fit for your personality.  Other areas of real estate include new home construction, land, commercial, and property management.

Real Estate Is A Business

Just as investing in real estate is a business, so is deciding to work as a real estate agent.

It’s important to have a business plan, and to track all of your income and expenses.  Successful real estate agents also know that it is critical to always underestimate the cash coming in, and to always have money in the bank.

After that, marketing your new real estate business is a key factor to success.

Social media sites such as LinkedIn, and writing and publishing real estate books are two of the many ways new agents can market themselves in the competitive real estate industry.

 

How To Break A Lease To Buy A House

break a lease to buy a house

Renters often times reach the point where they decide it’s time to break a lease to buy a house.

Here are a couple of ways that tenants can break a lease to buy a house that will also be a win-win situation for the tenant, landlord, and property management company.

Break A Lease To Buy A House – New Home Construction

New home builders can usually be a big help to tenants wanting to break a lease to buy a house.  As long as the house they are buying is the new home that the builder is selling.

That’s because new home construction usually has a lot of latitude in the pricing.

Granted, the tenant may need to pay termination fees to break its lease.  But the builder can sometimes reduce the price of the new home by the total amount of termination fees the tenant needs to pay to break its lease to buy a house.

Real Estate Agents Can Help Break A Lease

Another way that renters can break their lease to buy a home is with the assistance of their real estate agent.

Landlords that own income property, and property managers that handle the rented property are mainly concerned with keeping the property rented.

That’s where the help of a real estate agent can come in.

If the tenant is using a real estate agent to find a new house to buy, then the agent can also help the tenant break its lease.  The real estate agent can do this by finding a good, qualified new tenant to rent the property.

Many real estate agents will also offer to waive their leasing fee for doing this, since they’re getting paid a nice sales commission from the new home builder for selling a house for them.

How To Make The Best Offer In A Seller’s Market

make the best offer in a seller's market

There’s nothing more disappointing to a real estate buyer trying to bid in a hot real estate market than being constantly outbid.  Here are some tips on how to make the best offer in a seller’s market.

Make The Best Offer In A Seller’s Market

Nothing scares a seller more than buyer contingencies.

Obtaining financing, property inspections, and having the down payment and funds needed to close are all examples of normal contract contingencies.

But in a hot real estate market the seller can call the shots.  That’s why smart buyers know that to make the best offer in a seller’s market, the fewer contingencies the better.

It’s Not Just About Price

Sure, the sales price of the property being sold is important.  Sellers usually want to sell their home for the most money.

But before the seller can get their money, the transaction has to actually close.

So from that perspective, it’s not always about price.  It’s more about the buyer’s ability to actually close the deal rather than having it tied up in escrow and then falling out at some point.

For example, everything else being equal, a cash sale would be better than financing.

But if there is financing involved, is as much proof provided as possible that the financing won’t fall through and/or has the buyer waived that contingency?

As-Is, Where-Is

Buying a property ‘as-is’ is another technique that buyers can use to make the best offer in a seller’s market.

But this doesn’t mean you have to accept the property with all of its flaws.  Nor does it mean that the seller doesn’t have to disclose any known issues or defects.

As-is simply means that the buyer isn’t supposed to ask for any repairs or concessions from the seller if there are defects found.  But, the buyer can still walk away from the transaction.

How To Save On Housing Costs

save on housing costs

First-time home buyers frequently discover that their monthly housing costs are much, much higher than they anticipated.  So naturally they begin looking for ways to save on those housing costs.

Updating, furnishing, maintenance and utilities all add up quickly.  Add to these expenses the monthly mortgage, and even at today’s low interest rates these payments can put a strain on almost any budget.

Here are a few ways to save on housing costs.

Save On Housing Costs With Rent-To-Own

One of the more overlooked ways to save on monthly housing costs is to enter into a rent-to-own or lease purchase agreement with the seller.

This type of contract allows the buyer to become a tenant first.

First, agree to the purchase price of the house in advance. The next step is determining how much of the monthly payment is going to be applied to the purchase of the house.  The amount of the payment left over goes to the seller as monthly rental income.

There’s a right way and a wrong way to use a rent-to-own agreement to save on housing costs.

The agreement should be treated like a purchase contract, with an independent third-party such as an escrow company handling payment receipts and funding disbursements.

Sub-Renting Can Save On Housing Costs

Renting out extra space in the house is another way to keep housing costs down.

Some people rent to friends or family, others use an online service such as Airbnb and rent out to people looking for a vacation rental property.

There are both pros and cons to renting to people you know and finding good tenants that you don’t know.

But either way, home owners who rent out extra space frequently find that the extra income they receive is much more than they expected.

The additional money can add up fast, and be used for needed updating or remodeling.

Or even to pay off the mortgage balance much quicker than planned!

How To Lease Purchase Real Estate

lease purchase real estate

A lease purchase real estate agreement, sometimes also called a rent-to-own, is basically an option to buy real estate at a certain time and at a certain price.

One of the most important terms to have in a lease purchase agreement to buy real estate is that an escrow or servicing company collects the monthly payment.

After collecting the payment the escrow company accrues the portion of the payment that goes toward the purchase price into an escrow account.

Lastly, they remit the balance to the seller.

Basics of a Lease Purchase Real Estate Agreement

The seller and tenant/buyer should:

1) Agree to a future purchase price at a certain date.

2) Agree to the lease amount of the monthly payment.

3) Agree to the total monthly payment which includes the rent and the extra amount that goes toward the purchase price.

This lease purchase real estate agreement should be written and treated like any other purchase contract.

The seller and tenant/buyer should have a third-party such as an escrow company or attorney collect the total monthly payment from the tenant/buyer to the seller, accrue the funds that go toward the purchase price, and remit the balance to the seller.

Issues With A Lease Purchase Agreement

Many times people enter into a verbal lease purchase real estate agreement.  They don’t use an escrow company or third party to receive, account for, and disburse the monthly payment.  Instead, they do everything themselves.

Doing this puts both the seller and buyer/tenant at risk.  Normally people do this to try and save a little bit of money.

The two common issues that arise with a lease purchase agreement for real estate are:

1) Who pays the monthly servicing fee.

2) Determining the future price of the property.

In most cases, splitting the escrow fee between seller and tenant/buyer is the accepted course of action.

The agreed-to sales price of the property can be confirmed with an appraisal when the lease purchase real estate agreement is exercised.