Kentwood,MI home for sale located in Bailey’s Grove! Stunning!

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RENT THAT HOUSE! At Least here in Michigan

“Rent That House in 2009″

 As people are beginning to re-think their approach on how to be successful as an active participant in the real estate arena, it’s sort of a no-brainer to discover the “Flip That House” error is slowly depleting during these economical times. That is my way of putting it mildly. Being here in Michigan, I feel it is depleting rather quickly, but there is always room for great positivity to take over by crafting a constructive niche during this transition in the market.

 Now is the time to seriously think about establishing the old-fashion niche in the “Rental Market.” It is time to start creating a “Rent that House” movement until we begin to see a bright light at the end of this tunnel. I know this concept may seem to be the least desirable for some people, especially to those who never really like the idea of being a Landlord, but instead of focusing on real estate as a short-term investment, let’s look at it from a long-term stand point.

 Buying and Holding a property is actually a great idea for those who are not looking to instantly obtain huge returns. When done properly, one should be able to purchase an investment property and receive cash flow on a monthly basis. In an appreciating area/or region, some may be ok with breaking even every month or having some overhead in the beginning , with the goal to eventually see an increased return over time.

 In reality, here in Michigan, we are not in an appreciating market. The great thing is, you can certainly purchase an investment property way below value, so in actuality, your chances of receiving monthly cash flow can be very high in this market. Just make sure you are keeping up with the current “rental market” in the area you wish to invest in, to make sure your bottom makes sense and also cents!

 Before one decides to get into the business of renting out property to tenants, it’s important to understand the need to run the orchestration as a business. A lot of people get into the land lording business and don’t understand that the goal is to be profitable. Some people are entranced by the idea of “owning a property” and not “running” it. If you are a new investor it is best that you do your homework and develop a system or a business plan. Here are some of the things you will need to ask yourself:

• How much monthly cash flow do you intend to make?
• What type of system will you use to qualify tenants? Will you accept Section 8 or no? Did you know that if you intend on being a Section 8 Landlord, you will need to have your property inspected and up to code before you can accept Section 8. Check your local government or state’s website for guidelines. You can also check with your local housing commission.
• If you need to begin an eviction process, do you know where to go or what documents to file?
• Who’s going to look after your property? Will you use a property management team or do you intend to manage your property on your own?
• Do you have emergency cash reserves for those sudden things that could go wrong with the property? THIS IS HUGE!

                                                         Land of the Tenants

 When you finally make the decision to invest in real estate, and you join the Land of the Landlords & Tenants, there are few basic things that I would like to share with you as you embark on your journey. I would like to discuss the different types of tenants you should be aware of.

One of the basic things I have learned when coming across tenants is that some of them will either be headed towards a life storm, living in a storm, or maybe just coming out of one. That’s just how life works for some people, no matter how much money they have or don’t have. The role of a landlord is to first do research towards figuring out what point in life did you and your potential tenant connect! Remember, you are to treat this business as a business; there is little room for sad stories. The tenant will either fit YOUR criteria or not. If they don’t qualify, don’t try to make a miracle happen. Trust me I’ve been there.

Scenerio: Tenant comes to you ready and willing to move in with cash in hand. This particular tenant will present as if they currently have everything in there life together. You may have a vague understanding of why they are moving from where they were before. If you are a desperate landlord needing to occupy the place; they will convince you they have it together with little information about them. They move in; they pay the first two months, you’re happy. And here it comes…you go to the mailbox and no rent money.(True Story) They call you and say…”I lost my job, because my employer found out about my criminal record, from a domestic dispute between my boyfriend and I” You can pretty much figure out what happened from there…led to eviction and LOSING even more money; along with having to cover the mortgage. Do your homework on every single tenant, it will save you money.

 It is best to try to catch good tenants who are out of the storm; especially a financial storm. Their storm will affect you and your business. It is quite understood that people get in a temporary bind; but you should always start the eviction process sooner than later. The tenant will still have some time to get it together. I would say it is ok to be more lenient towards a tenant who has rented your property for 2 years versus someone who has been there only 3 months and already having problems paying rent.

 Always keep in mind that when you’re assessing tenants; it’s about their past history and their current status. Everything may seem great but who knows what the future may hold. Have a system in place so you’re not losing time and money on those unforeseen circumstances. Once you’re close to the finalization of getting a tenant out of the home; start advertising for a new tenant right away.

 Landlording can be a lucrative business but don’t make the mistake by investing blindly. Make sure the home you are purchasing comes with equity. Know your rental market. Don’t obtain a $900 a month mortgage on a home that rents out for $800. That means you are already behind in the game.

 In closing; property holders can make a nice amount of money over a period of time. It’s about buying at the right time, which is now. It’s also about finding the right tenant to support your financial plan and knowing how to aggressively deal with the issues that may come up along the way! I would recommend reading books by Robert Kiyosaki and I definitely recommend the ABC’s of Real Estate Investing by Ken McElroy.

 Lastly, keep in mind that once you own your rental properties free and clear, the money comes to you directly as great passive income! If you can buy home cash, while still having a nice savings account; your plan could work out even better. So Investors, IT’S TIME RENT THAT HOUSE!

 For Investors looking to invest in the Grand Rapids area and you don’t have a Realtor, don’t hesitate to email me at tksellshouses@gmail.com call 800-541-3378 for more information. There are houses available under 30k if you are looking for inexpensive homes!

 

Copyright 2008 Takara Taylor All rights reserved.

 

 

 

Own a HUD Home $100 Down in Grand Rapids, Michigan

Back in December 2007, HUD (Housing and Urban Development)initiated a very innovative program to sort of clear up some of the inventory in many states, Michigan being one of them. According to this program, a home-buyer can purchase a home, for $100 down. Yes, you read that correctly; it costs $100 down for you to move in your own home.  HUD is also offering to pay up to 3% of the sales price to go towards closing costs  while also paying for the real estate transaction.

If you would like to see a list of HUD Homes in Kent County Michigan, and would like to know you if you meet the criteria, please call 616.541.2312 and ask for Takara Taylor who is a Licensed Realtor. Please understand that you need to have at least a 580 credit score. If you do not know your credit score, please visit www.freecreditreport.com to obtain it.

There are many homes on the market today and more buyers are needed. If you are a first-time home buyer and you want to know where you stand in regards to being able to purchase a home, seek assistance from someone. You never know what you may qualify for and there are experts who can help you. The time to buy is now.

Kentwood’s Tiny Tots Olympics Sept 20th, 2008 10am-12pm

 Kentwood Tiny Tots Olympics!

Kids ages 2-6 Saturday 9/20/08 10a-12p

Contact 656-5271 For More Info

 All events will take place at the Kentwood Activities Center, 355 48th Street Only $2/ child to participate, pay on-site.

 

*Frog Leap *Obstacle Course *Sand Dig *Bean Bag Toss*and lots more!*Each child receives a “gold medal” and picture!

 

Kids will register and take part in 10 or more events. At each station they will get a stamp and a prize. After they have completed all events, they will get their picture taken with their “gold medal”!

 

Missing Mortgage Payments in West Michigan? Act Now.

Are You Headed Towards Foreclosure? Act Now.
Consider the Short Sale Option
By: Takara Taylor, Realtor

Many lenders have been agreeing to accept a “short sale” offer as a way to help homeowners stop their home from going into foreclosure and damaging their credit. One may be thinking “What’s a short sale?” A short sale is basically the following:

A short sale is a situation involving your mortgage lender’s approval of accepting a lessor amount than what you owe on the home. For example,let’s say there is a third party who offers to purchase your home for $140,000.00 and you owe $180,000.00.The offer coming from the third party can be submitted to the lender and taken into consideration.

This process can be very tedious and it can take up to 90 days to get an approval from your lender. Your lender will evaluate the offer received and determine whether the offer was an acceptable one. There may be some negotiating back and forth before a final decision is made.

Please note that each case may be handled differently. Short Sales are best handled by a Realtor for various reasons including the possible need to list your home, process paperwork, and negotiation with lenders. Please contact Takara Taylor of AUDU Real Estate at Takara@grar.com for more information.

AUDU Real Estate, 3629 Alpine NW, Constock Park, MI 49321

FREE Straight Talk Real Estate Seminars for Grand Rapids, Mi Neighborhoods (Consumers)

If you’re like most people, you can’t help but wonder what’s going on in the real estate market these days. With all the talk of Sub-Prime Mortgages tanking and real estate home prices falling, it can be a little confusing to sort out truth from fiction.

Audu Real Estate is offering a New Service to Home Owners or Groups of interested Real Estate Buyers who would like frank, straight talk about the State of the Market in their Specific Neighborhoods.

You can choose from a variety of topics:

1. What’s Selling Right Now in My Greater Grand Rapids, Mi Neighborhood?

2. How Can I Stage My home to Sell Quickly?

3. What Types of Financing Options Should I consider?

4. What’s the Foreclosure Situation in my community?

5. How Can I hold a Safe Open House?

6. What Should I know about Choosing a Real Estate Agent?

7. Open House Success Tips

8. The Pros & Cons of Discount Brokers

9. Where’s the Real Estate Market Heading?

If you would like to schedule a FREE Straight Talk Neighborhood Seminar for one or more of these topics, please contact me at Takara@grar.com or call 616-541-2312.

The engaging 30 minute presentation will give you insights about real estate that are normally only available to professionals. In addition you will have the opportunity to ask questions.

All classes must be registered and booked in advance. Classes are available between 10:30 ~ 5:30 on most week days. Call to request information regarding evening and weekend appointments.

In order to schedule a Neighborhood seminar without cost, a minimum of 5-10 individuals must be present.

You can also visit www.auduhomes.com to learn more about the company and it’s dedication to provide memorable grace-filled transactions for their clients!

Copyright 2008 Audu Real Estate All Rights Reserved

5497 W. Heathwood DR SE~Bailey’s Grove~Kentwood Home for Sale

Beautiful Kentwood House for Sale in Bailey\'s Grove!

“Going Green” in Grand Rapids, MI

The applied concept of going green in Grand Rapids seems to be gaining a lot of publicity these days. Much awareness has been developed around “Going Green” as a way to enhance the way we live. What does it mean to go green? Well, from what I gathered after reading several articles and watching the news, it is basically a way to address the issues surrounding around our global climate which has been a growing concern.  

                                                      

The City of Grand Rapids has been working really hard to promote an eco-friendly environment. According to a recent article written in the Grand Rapids Press; the author Deborah Cook mentioned that the city has been” tied with fourth in the nation of citied with total LEED Buildings.

What is LEED? LEED is an acronym for Leadership in Energy and Environmental Design. It was initiated by the U.S. Green Building Council (USGBC).  Many “Green “building projects involve a certification process provided by LEED. According to the USGBC, LEED “promotes a whole-building approach to sustainability by recognizing performance in five key areas of human and environmental health: sustainable site development, water savings, energy efficiency, materials selection and indoor environmental quality.”

Many houses, condos, schools, municipal, and commercial buildings have been made eco-friendly. Places such as The Rapid (transportation company, first LEED certification in Michigan), the Grand Rapids Water/Environmental Services, and the New Grand Rapids Art Museum to name a few have “gone green”!

Grand Rapids currently has 8 schools that have been green built and 5 of them are seeking LEED certification, and Sibley Elementary has already been certified.

This trend is expected to grow in years to come, which makes Grand Rapids an even more attractive place to live! “Let’s Go Green Grand Rapids” More home builders are incorporating building green houses into their business. In my opinion, it will not be very long before real estate agents will be able to market more and more of this type of home as it appears to be a good asset for buyers to have.

Also, side note, If you don’t recycle, please consider it as a part of your life as a way to show that your truly care about your environment.  Here in Kentwood, MI, we have recycle days twice a month which is great. My husband went out and got 2 containers for recyclables and we now make a conscious effort to use the service!  If your trash removal service doesn’t have a recycle program, start one!