Great Investment Opportunities in Raleigh! Short Sale | Foreclosure Condo's and Townhomes in Raleigh

Great Investment Condo's and Townhomes in Raleigh

There is a great opportunity for investors to purchase some foreclosure and short sale opportunities in the Raleigh area. Maybe you are looking for a foot in the door while the market is still affordable - you should really take a look at these condo's and town homes. The rental income in some cases could exceed the mortgage payment and you could have the opportunity to have a great income producing investment. Our Real Estate company has a Property Management division that could oversee the management side of the investment on your behalf.

Take a look at these properties here.

Raleigh Condo and Townhouse Short Sale and Foreclosures

I am always available to chat to you about your Real Estate Investment needs - Please call me or email me Lisa@LisaSouthern.com

Real Estate Relationships, The Service, The Expertise

Real Estate Relationships, The Service, The Expertise

There is more to real estate relationships than appointing a real estate agent to buy or sell your home.  Real estate agents have different mandates in terms of how they represent their clients; and in many states, agents are required to sign an agency disclosure form that specifies this relationship. 

Before a buyer or seller appoints a real estate agent, they should ascertain which of the various real estate relationships the agent operates under.  

The real estate license laws are not exactly the same in all states, so you need too familiarize yourself with the relevant regulations wherever it is you are buying or selling property. We’re going to use information supplied by the North Carolina Real Estate Commission to explain agency relationships in real estate.

Real Estate Relationships 

The Real Estate License Law in NC requires that licensed real estate agents (a brokerage company or licensee) explain their agency relationship with buyers and sellers and present their clients with completed agency disclosure forms that show who exactly they will be representing in real estate transactions. 

When licensees begin working with potential buyers, they need to establish whether the buyer will be their customer or their client. 

All real estate agents offer a service, and they should have the required expertise to do the job. But the real estate service they offer will also depend on the real estate relationship that is chosen. 

Customer versus Client

One real estate agent cannot be all things to both customers and clients, unless he or she is officially operating as a dual agent. It stands to reason that agents have certain obligations to customers, and certain duties they need to perform for clients. Generally as a customer you will receive information and assistance; as a client a licensed real estate agent will represent you, and negotiate on your behalf.

Here are some more guidelines:

• Customers do not establish real estate relationships with licensees, so the service they get does not include negotiating on your behalf. However the expertise you are assured of will be invaluable, including vital market information. 
• Clients sign agreements with licensees who then represent them, and negotiate for them. Buyers and sellers can both be clients. 
• Agents are the licensees who act on behalf of buyers and sellers. In NC once the agency relationship has been formalized, the “broker-in-charge” of the agency becomes the agent, with all other licensees in the company becoming sub-agents.
• Dual agents offer their services and loyalty to both buyer and seller, but only provided both parties agree to this situation. This means that both buyer and seller become clients of the same agent. But there are certain limitations: for instance a dual agent cannot disclose confidential information to the other party and they may not negotiate or advise on price or terms. 

So while the general service and expertise of real estate agents is the same across the board, there are differences, depending on specific real estate relationships. 

Looking for a Home to Buy and the Services of a Great Real Estate Broker -  Lisa@LisaSouthern.com

Communities Served

• Condos for Sale 222 Glenwood
• Condos for Sale 510 Glenwood
• Condos for Sale Palladium Plaza
• Condos for Sale PNC Plaza
• Homes for Sale Bloomsbury Estates
• Homes for Sale Boylan Heights
• Homes For Sale Cameron Park
• Homes for Sale Cameron Village
• Homes for Sale Five Points
• Homes for Sale Gardens on Glenwood
• Homes for Sale Glenwood - Brooklyn
• Homes for Sale Governor's Point
• Homes for Sale Historic Oakwood
• Homes for Sale in Apex
• Homes for Sale in Cary
• Homes for Sale in Chapel Hill
• Homes for Sale in Fuquay Varina
• Homes for Sale in Holly Springs
• Homes for Sale in Morrisville
• Homes for Sale in Raleigh
• Homes for Sale Mordecai
• Homes for Sale Park Devereux
• Homes for Sale Raleigh Inside the Beltline
• Homes for Sale Ramblewood
• Homes for Sale The Cotton Mill
• Homes for Sale The Dawson on Morgan
• Homes for Sale The Hudson
• Homes for Sale The Paramount
• Homes for Sale The Residences at Quorum Center
• Homes for Sale West

6 Things to Consider When Owning an Investment Property

6 Things to Consider When Owning an Investment Property

Our clients often ask us, “what are the Things to Consider When Considering Owning an Investment Property”? Within each of the 6 criteria below, there are a whole host of other concerns and challenges that should be addressed.  Each property has its own unique set of circumstances too, as does each investor.

Here are 6 things to consider:

1. Buy a Property in an Area with Strong Rental History. A good Realtor can help you research different areas to determine rental history, going rates and available properties to consider. If you want to buy a single family home, consider the schools in the neighborhood. Often that is a determining factor for tenants. Or research other draws to certain neighborhoods, like proximity to major employment or transportation. If you are considering a condo or a town home you should research the Home Owners Association (HOA) to make sure it is fiscally sound and learn what type of maintenance they cover. You should also find out if there are any restrictions to making the property a rental. Some lenders will not make a loan in a complex with a high rental occupancy rate. A good Realtor can also help you find out all of this information.

2. Weigh the Pros and Cons of What it Takes to be a Landlord. Owning rental property long term can be a great investment, but it can also be expensive. Are you prepared to take on the stress and financial obligations involved with tenants and repairs? Over the years, given market appreciation and pay down of your loan, you could build a nice nest egg for retirement, if you do it right.  Just fully understand all the pros and cons before diving in.  The right property can make all the difference, so do your homework and hire a professional.

3. Know your numbers. Make sure your monthly rental income covers not only your recurring expenses, but also any unexpected expenses and lost income through vacancy. Before you even buy the property, you need to truly understand what you are getting into today. Never buy a property based on “what if’s” and other uncertainties.  Wishful thinking is not a good investment strategy.

4. Understand Tenant Landlord Laws in Your State. Each State differs, so if you have owned property in another state and are venturing into new territory, check up on any differences, so you don’t get yourself in trouble. Two good resources for rental rules are the U.S. Department of Housing and Urban Development’s Web site (www.hud.gov ), and The Landlord Protection Agency (www.thelpa.com ), which includes state-specific rental guidelines and standardized forms for rental agreements.

5. Take Time to Properly Screen Tenants. Getting a good tenant is critical to protecting your investment. Always ask for previous landlord references, run a credit and a criminal records check. If you decide to allow pets, obtain an extra pet deposit, if allowed by your state regulations. Once you find a tenant, be sure to conduct a pre-move in walk through with the tenant to thoroughly document the current condition of the property. This will help avoid any disputes at move out.

6. Consider Using a Professional Management Firm. An experienced professional property management firm can help you take care of all of the above and more. If you already own a property and feel that you cannot budget the fees, consider what it costs you in time, aggravation and repairs each year. A commitment with a property management company will help protect your investment and increase your bottom line year over year by ensuring the property is rented to the right tenants, maintained effectively and ensure reduced vacancy time. If you are buying a property, right off the bat you should factor in the cost of property management into your ROI. If the property numbers don’t work, then find another property. There’s always a good investment out there, you just have to be patient and persistent and work with a professional!

The Southern Group, a division of Lisa Southern Real Estate, is experienced in managing rental properties in the Raleigh metro area.  We currently have over 100 properties in our portfolio.  We have a full staff of professionals to help you every step of the way.  From researching properties, crunching the numbers, getting financing, the contract to close process, finding a tenant and collecting rents, we've got it covered.

Contact Us today for a free Investor Consultation and get solid real estate advice to see if owing an investment property is right for you.

Hayes Barton Neighborhood - Five Points Area of Downtown Raleigh

Hayes Barton Neighborhood - Five Points Area of Downtown Raleigh

The Hayes Barton neighborhood, part of the Five Points area including Bloomsbury, Vanguard Park , Georgetown and Roanoke Park, was part of a 1920's era master planned community in downtown Raleigh.

Once considered a suburb of Raleigh in the 20's, strangely enough it is now considered a downtown neighborhood.  Oh what modern transportation can do for closing distances!

Considered one of Raleigh's prestigious neighborhoods, homes in Hayes Barton embody true Southern grace and style.  Stately traditional homes and gorgeous 1920's bungalows

Five Points is the retail area adjacent to Hayes Barton. Trendy shops and cool restaurants mixed with long standing establishments like the Hayes Barton Pharmacy and the Five Points Barber Shop define this unique part of town.  The Hayes Barton Cafe is a local favorite serving fresh baked desserts and homemade creations using locally sourced products.  They even grow many of their own veggies.

See All Homes for Sale in the Hayes Barton Neighborhood