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Refinancing Vs. Selling Advantages and Disadvantages

There are many reasons to refinance or sell your home. Some homeowners consider these options to avoid accumulating debt as a result of a loan. Others want to downsize their living space or access their home's equity. Both refinancing and selling provide the opportunity to alter the terms of an existing loan. These choices offer homeowners opportunities that can lead to unique long-term advantages or disadvantages. 

According to investopedia.com, Refinancing is the process of paying off an existing loan and replacing it with a new loan that includes the debt of the old one. Many people refinance by finding a new lender with better terms or interest rates. This lender may also offer homeowners the option to change their loan type from variable- rate to fixed rate, establishing a constant interest rate each year. Many homeowners choose this option to avoi...

Bank Owned Vs. Short Sale

Prospective buyers have different ways to purchase a home below market value. Some buyers choose to buy from homeowners, banks or mortgage lenders who own properties nearing or approaching foreclosure. Others opt for what is known as a short sale, a type of sales agreement lenders are willing to accept in order to reduce the loss of revenue that occurs as a result of a foreclosure. 

According to Realtor.com, a short sale is when a bank or lender agrees to accept a smaller payment than what was originally agreed upon by the homeowner. If accepted, the lender will come up “short” of the original amount owed. These sales on average take around 4 months to finalize. Despite the risk, this option may still be somewhat beneficial to the lender as they can avoid the expenses associated with foreclosures such as paperwork and attorney fees.<...

Financing Options and Alternatives for Real Estate Investment

For some people, buying a second home or rental property is simply not an option. This is due to financing for real estate investment being far more complicated than a traditional mortgage or than financing for a home to live in. 

According to Wells Fargo Home Mortgage, investors looking at long-term investment properties need to cover down payments (typically 20%), closing costs and have 2 years of property management experience to get a loan or to use their property’s rental income to qualify for a loan. On the other hand, for vacation homes or short-term investment properties such as time-shares, coops, manufactured home and bed and breakfasts, mortgage or home equity financing may not even be available. 

But don’t let these financial factors stop you from investing in real estate. 

If you are seriously considering investing in real estate and don’t know what kind of financing op...

Investing in Real Estate: The Key to Building Wealth

Balance MoneyFollowing last year’s real estate market was like riding a rollercoaster. The market started off strong in 2018 and then softened before finishing with a mild flurry. However, one thing that did not change was America’s belief that owning a home makes sense from a financial standpoint.

Investing in real estate has many advantages. Properties are tangible goods, which makes them feel more real to investors, unlike the stock market. They are a great source of steady income, short-term cash or a long-term investment that can be passed on from generations to generations. 

Real estate investors also have a variety of property types to choose from, single family-homes, apartments, multi-units, commercial or retail space, condos or mobile homes. In addition, investors are not limited to buying and selling with real estate. They can flip a property, rent it, le...

Students Loans Shouldn’t Keep You From Becoming a Homeowner. Here’s Why

Over the course of the last thirty years, a shift has happened. An entire generation has been raised to believe that a college education is their key to unlocking opportunities that were not available to their parent’s or grandparent’s generations.

Due to this, student loan debt has soared to $1.5 trillion and represents the largest category of debt, surpassing credit card and auto loan debt in 2010 and never looking back. As more and more Americans continue their education amongst rising tuition costs, this number will no doubt increase.

Many real estate experts have blamed student loans for a drop in the real estate investment and homeownership rate for young families, and to an extent, they’ve been right. Increased debt at the time of graduation has no doubt limited young people from being able to afford a home or any real estate investment property.

According to a Wall Street Journal’...

Why Has Housing Supply Increased as Sales Have Slowed Down?

According to the latest Existing Home Sales Report from the National Association of Realtors (NAR), the inventory of homes for sale this year compared to last year has increased for the last four months, all while sales of existing homes have slowed compared to last year’s numbers.

For over three years leading up to this point, the exact opposite was true; Inventory dropped as sales soared.

NAR’s Chief Economist Lawrence Yun shed some light on what could be contributing to this shift,

“This is the lowest existing home sales level since November 2015. A decade’s high mortgage rates are preventing consumers from making quick decisions on home purchases. All the while, affordable home listings remain low, continuing to spur underperforming sales activity across the country.”

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Rent It Network Now Offers Investment Services & Introduces New Investment Specialist

“Our goal is to help investors maximize their profits.”

Tampa, FL, January 2019— Rent It Network, a full-service property management and tenant placement company, is proud to announce that it is now offering investment property and consulting services in Tampa Bay, Florida and surrounding areas. Through this additional service, Rent It Network is looking to help investors locate, analyze, renovate and rent or sell any property throughout the region. 

With the implementation of investment services, Rent It Network relies on its newest member and Investment Specialist, Luke Skinner, to assist local and out-of state investors make the best investment decisions to reach their goals and maximize their profits. 

“My role as the Investment specialist is to ensure that our current and prospective customers ge...

Do I Need Homeowner’s Insurance for a Tampa Rental Property?

House on FireInsurance on your Tampa rental property is critical, but you have to make sure you have the right insurance, otherwise your claims won’t be covered, and you’ll find yourself out-of-pocket for more than you’d like to pay. 

The right insurance will protect you from property loss as well as liability. If your tenant or their guests are injured on your property, you’ll want a policy that covers it. Today, we’re explaining why a homeowner’s insurance policy is not what you need. 


Homeowner’s Policy versus Landlord Policy

When you buy a property and live in it, you need to insure that home with a homeowner’s insurance policy. These policies cover the owners and the occupants. Your property and your possessions are covered, and...

How to Prepare Your Tampa Home for Hurricane Season

In the Tampa Bay area, we are in the middle of hurricane season. Generally, it runs from June 1 to November 30, and tropical activity tends to peak in late August and early September. Tampa landlords will surely remember Hurricane Irma, a huge storm that covered the state of Florida last summer. It’s important to be prepared for hurricanes and tropical storms when you have a Tampa rental property. Your home needs to withstand heavy rains, flooding, and wind. You can also expect lightening, hail, and sometimes tornado activity. 


Tampa Property Management: Preparing in Advance for Hurricanes

It’s important to be in contact with your tenants and your property manager when a hurricane is approaching. People will be quick to stockpile water, candles, batteries and other supplies. Find out if your tenants are staying in place o...

What to Look for When Purchasing an Investment Property in Tampa – Part Two

House in PhoneRecently, we talked about what type of home you should invest in when you’re looking for a Tampa rental property. Today, we want to share some of the things you should also be thinking about when you’re preparing to buy. 


Tampa Landlords: Think about Property Location

Location is always important, and this is especially true when you’re choosing an investment. The quality of the neighborhood matters. Take a look at school districts and crime statistics to get an idea of the area. Decide if you want a suburban area or an urban area. People want to be close to grocery stores, restaurants, and recreational opportunities, even if they’re living outside of the city. 

Urban living is having a revival in the Tampa area right now. People want to live in neighborhoods that are more w...


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