Buying Real Estate To Live In:
I will help you find a home of good value with little to no surprises.
You’re not only buying a house (or condo) you’re buying into the neighborhood, the community with all its benefits and flaws. So drive and walk the neighborhood. Speak to people you see there. They’re going to be your neighbors. Do as much of the following as you can prior to being committed to the purchase. If you like I’ll do it with you.
1. Check out your commute time by taking the drive or transit when you normally would.
2. Check out your new neighbors by knocking on their door and introducing yourself and ask any questions of the neighborhood you wish.
3. Visit the local places that will be an important part of your life. Whether this is the local school, church, park, BART station, gym, cafes, whatever.
4. Visit the neighborhood on Friday and Saturday night. Ghosts and riff raff, if any, come out at night.
5. Have professional inspectors inspect the home. There are many to choose from.
6. Check to see the home matches the tax records for size and # of bedrooms, bathrooms and land usage.
7. If it’s your first home buy a little extra. Buy a home you will grow in to, not one you will grow out of.
8. If it’s the home for your retirement years, be sure your knees and sense of balance will be happy in the years to come.
Buying Real Estate To Rent:
You’re investing in real estate for profit. I’ll be there to help you do it right the first time.
Do these things prior to selecting your investment / rental property or during your inspection period.
1.Check with two independent local property managers to confirm current ratability and rental values even if property is currently rented. For a quick rental value guide click here, enter the address and # of bedrooms.
2.Check out the neighbors by knocking on their door and introducing yourself and ask any questions of the neighborhood you wish.
3.Do the math. Calculate the estimated profitability or CAP Rate with my formula.
4.Visit the neighborhood on Friday night and Saturday night.
5.Have professional inspectors inspect the home.
6.Check to see the home matches the tax records for size and # of bedrooms, bathrooms, # of units and land usage.
Buying Real Estate Using IRA Funds:
Under many circumstances, rental property can be purchased with funds from your retirement account. As with all retirement accounts, the rules are strict but can benefit you with great tax savings. I have no affiliation with these firms but give them a try for more information on the subject Equity Trust, Provident Trust Group, also GOOGLE the IRS and self directed IRA’s. I’m sure there are other firms providing such services.
Buying Real Estate If You are Not A US Citizen:
Yes, it is legal to purchase real estate in the United States even if you are not a US citizen. Most non-US citizens pay cash because getting a mortgage here will be difficult without US tax returns and a US social security number.
Reasons to buy US, California, real estate:
1. Student housing for your child
2. Rental income
4. Vacation home
5. Future housing
6. Develop housing for profit and to get a Green Card
7. Now is a perfect time because California real estate priced are cheap and the dollar exchange is good. From $100,000 US to $50,000,000 US – there is something for every need and budget.
8. When buying or selling California real estate through a reputable and licensed California real estate broker, the ownership and its transfer and the transfer of funds are all guaranteed by a title insurance company.