Published on: 13 August 2019
Last Updated on: 11 October 2021
If you are into real estate where you are trying to buy yourself a nice and suitable place and are unable to do so whom do you approach?
A real estate agent is one who possesses knowledge about every real estate property available in his area. For example, if you are looking for a place with a silent environment or if you are looking for a house with a garden view, or if you are looking for a sun-facing property then you can keep your demands in front of him(after hiring a suitable one)and he will surely come up with options which meet your demands.
Now a question arises in the mind that why should we take the help of a real estate agent. The answer to the question is very simple. When using an agent’s help saves money and time and the struggle of finding the perfect home by yourself. You save all the hustle and bustle and get the perfect option in an instant but when it comes to the real benefits of working with an experienced real estate agent we can sum it all up as follows.
Quicker solutions
You get options based on previous results. For example, if you are unable to find the perfect house on the first chance then an experienced agent will come up with the perfect house for you which is better than the last one thus saving a lot of your time.
Anticipating problems
An experienced real estate agent is always known to the place he will show you the property. Thus he knows the pros and cons of the place. For example, if you are looking for a place with certain specific pros like view with the silent environment then your agent will already possess the knowledge of the place like that.
Solid reputation
If you meet an experienced real estate agent you will come across to the conclusion that he stands a fair and strong reputation among all other agents. He will be respected because he possesses the knowledge and skill to get anyone what type of property they are looking for.
Statistics information
With an experienced real estate agent you will be able to analyze the place well. He will have knowledge about the area of all types of statistics and crucial market data of other clients. So he will be able to guide you to a place well suitable according to your taste of needs.
Professional guidance
When you come across an experienced real estate agent you will find that he possesses knowledge about everything. He would k ow the area, the history, and geography of the property. He will be able to tell you and scrutinize for you the best options available according to your taste saving you a lot of effort.
So if you are into real estate then always go for the experienced agent who has a good reputation and knowledge. Not only he will help you save time in choosing the right property but also save effort and all the other problems you might face. You can also take help from an expert like Larry Weltman. For over a decade Larry Weltman Toronto has advised the real estate industry on various fronts where he has the expertise and where agents have needs.
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House flipping is an investment strategy involving the purchase, enhancement, and profitable sale of homes. It requires funding, dedication, and an understanding of market trends, along with careful planning and budgeting.
Here, we offer a few beginner tips for flipping success.
What Are The Pros And Cons Of Flipping?
House flipping is a high-risk, high-reward endeavor, but you can minimize the risk by working with the pros at Carmody Construction and weighing the pros and cons.
Profit potential. With planning and proper implementation, house flips can bring high profits quickly.
A more robust real estate portfolio. Flipping success can expand your portfolio, giving you a better reputation among potential clients and lenders.
They are boosting the local economy. Flippers help with neighborhood economic revitalization by enhancing homes and increasing property values.
Personal fulfillment. House flipping offers opportunities for creative expression, which can be rewarding for owners and buyers.
Sharper skills. Becoming a house flipper will help you sharpen skills that can be used in other areas, including team management and negotiation.
And now, the disadvantages:
High risk. House flipping is a significant financial risk. For instance, a sudden market downturn or high renovation costs can lead to sizable financial losses.
Tax consequences. Flipped houses are subject to capital gains taxes, and it’s essential to weigh profit potential against tax liabilities.
Time spent. Flips require dedication—finding, financing, renovating, and selling homes takes time.
Surprise repair costs. Older homes often have hidden problems, which can increase an initial investment and cut into profits.
Market volatility. Changing market trends may affect flip profitability.
Read on to learn the basic steps in a successful house flip.
Budgeting And Planning
The process starts with a plan that outlines goals, identifies risks, and estimates a budget for acquisition, enhancement, and sale. A detailed budget should consider expenses such as financing costs, property purchases, renovation, market changes, and promotions, and it will reduce the risk of unexpected losses.
Finding Financing
Flippers have various financing options, from personal savings to loans, and choices directly affect profits. While paying cash will help you avoid high interest, it’s not always possible. Cash-out refinancing, HELOCs (home equity lines of credit), and hard money lending are all viable alternatives.
Learning About The Market
When flipping houses, analysis of market trends, property prices, and housing demand will give you valuable insights. By learning about the community in which you’re planning the flip, you’ll find an appropriate property, target the right market segment, and turn a profit.
Finding And Choosing A Property
As you search for a potential flip, consider factors like location, condition, and market demand. Choose a home with a focus on its appreciation potential, renovation costs, and curb appeal. Above all, align your choices with your budget.
Making An Offer
Successful negotiation requires proposing a below-market price and backing the offer with sound reasoning. The lower the purchase price, the higher the profit. Be firm, fair, and willing to walk away when negotiating with sellers.
Renovation
Flipping a house requires renovations because most buyers want livable, ready-made homes. Before selling, make necessary upgrades and repairs to increase the property’s value. Set a timeline, maintain oversight, and consider working with contractors on the most challenging jobs.
Selling For A Profit
When selling a home, focus on the renovations you’ve done. Use home staging, competitive pricing, digital listings, and professional photography to present your flip in the best light. These tactics and working with a local real estate agent will simplify the process.
Our Thoughts
House flipping is a profitable effort when planned carefully. Despite what we see on TV, instant success is rare—and mistakes are inevitable. When flippers find the best financing, work with the right partners, and follow these tips, they’re more likely to succeed.
Starting A Career With House Flipping
We know that investing is an effective option of side hustle. Around 61% of Americans actively invest. A recent Gallup survey finds that real estate is another popular long-term investment option for Americans.
That’s why house flipping is a credible career option, too.
However, you need accurate market intel to be a successful house flipper. Moreover, the real estate market in the US could be more predictable. So, you need to make flipping decisions wisely.
A common trend in house flipping is making decisions based on the location.
Steps To A Successful House-Flipping Career
House flipping can be a lucrative career once you’re greasy with the market.
So, let’s check out the steps to set up your house-flipping career:
Research your market well and find plausible locations to start house flipping
Set the right budget
Seek small-scale investments for your first house-slipping project
Pro Tip: Don’t consider going to other cities to invest in house flipping. Firstly, that will be a costly affair. Secondly, it might turn out to be risky. Try that only when you have abundant experience.
Prefer local search
You only have the best knowledge about the real estate status quo of your residual address. So, forego plans to house flip in faraway cities.
Most beginners start by exploring properties in their residence cities for house flipping.
How Does That Benefit Your Career As A House Flipper?
That’s easy.
You know the best rates at which homes are sold in your locality. Moreover, you can predict which properties will attract the best deals.
In real estate, the quality of a property is not everything. What matters more is the peripheral community. And nobody can judge the pros and cons of your surrounding community.
Some extravagant factors in the community might appeal to prospective factors. At the same time, you might also know any eccentricities in the community.
Is your locality in the vicinity of a popular entertainment source? Does it have other amenities?
Or it's a tourism hotspot!
Focusing on such factors and finding a reason to invest in local properties is better.
Role Of Real Estate Agents In Your Career
I found a home, but you must go overboard with your budget to claim it.
Dont.
Instead, work with a real estate agent. Most agents have access to real estate MLS systems.
It is a database that lists all available real estate in your locale. It also marks the prospective future listings.
End Statement
House flipping can be a rewarding career. However, it requires tactical moves with hard work. Often, conditions may not be suitable for you.
But don’t wait for the tailwind. Work hard and find an ideal property even under adverse circumstances.
Read Also:
10 Best Ways To Find Cheap Homes To Flip
How To Secure Your Dream Home With A VA Loan
Maximizing Your Home Sale: Essential Tips And Home Inspection
Why put people’s lives at risk if you don’t have to? That’s a question all handymen, construction managers, and site workers should ask themselves.
With so many solutions available in today’s market, your options to safeguard a crew are endless. What is one of the most popular safety features in today’s market? With good reason, you’ll find chain blocks on many work sites.
Yes, this is a device designed to assist in heavy lifting. But we’re mentioning this in relation to safety too: the more pressure modern tools can handle, the less chance there is of workers getting injured.
So, this is how you increase productivity as well as keep your crew safe. Ready to know more?
What is a Chain Block?
Chain blocks (also known as a hand chain hoist) is a mechanism used to lift and lower heavy loads using a chain. When the chain is pulled, it winds around the wheels and begins to lift the item that is attached to the rope or chain via a hook.
How Does it Work?
At the end of the lifting chain is a grab hook. This allows a worker to easily attach and detach a load. Also, most chain hoist lifting mechanisms have ratchets or braking systems that prevent the loads from slipping back. It also allows you to lower a load by pulling the other side of the hand chain.
You can see the increased control a site worker can have in a situation with one of these forms part of the equipment that’s available. Increased control affects productivity and safety.
So what can you expect from the average chain blocks?
Specs and Description:
500kg - 2000kg working load limit
All steel construction
Suitable for industrial environments where dependability is a must
Weatherproof twin pawl brake
The Weston style two pawl brake is designed to hold the load during the operation
Industrial grade powder coating which provides a long-lasting finish designed to suit harsh environments
Zinc plated hand chain for a durable finish
Fully enclosed gearing protects the gears from debris and contamination
Respected suppliers provide chain blocks complete with Grade 80 alloy chain and forged alloy steel hooks. You should also look for quality suppliers who provide a large range of chain blocks to suit your needs. Each construction scenario is unique, so make sure your equipment caters for your needs.
Why Use Chain Blocks? Benefits You Need to Know:
When you purchase the right types, chain hoists can positively affect most aspects of your project:
Cost: A chain hoist will have a lower price point than an electric wire rope hoist. This does mean the capacity won’t be as high, but it will still offer you much more than a manual hoist.
Flexibility: A chain hoist is usually easier to move than a wire rope hoist, meaning it can be transported between sites. This can be a great advantage for construction professionals who work in various locations.
Vertical lifting: You can easily achieve a vertical lift. There is no lateral movement, as the chain is moved over a sprocket.
Diverse application: Chain Hoists can be used with a wide range of lifting equipment, including jib cranes and gantries. They can be used in low headroom areas, allowing you more flexibility with your specifications.
Unique Features:
Understanding this range of equipment is essential to optimize your use of them. Are you benefiting from these features yet?
Chain containers: This is the collection box that collects up excess slack on the chain, preventing the chain from getting damaged and stopping it damaging the load.
Limit switches: An upper and lower limit switch will let you set minimum & maximum hook paths. It protects the load from human error when lifting it or placing it down. This will also protect the hoist itself when lifting a heavy load.
There’s a reason there are many types of chain hoists on the market. Each has its own benefits, so don’t ignore the ones you haven’t tried. Even though manual types may require more effort than electric hoists, they still come with many benefits.
Manual Chain Hoist Advantages:
While manual chain hoists won’t lift quite as fast and effortlessly as electric hoists, there are many advantages:
They don’t require any electricity or power source. This makes them much more portable compared to electric hoists so you can have the benefit of a hoist on remote work sites.
They’re more cost-efficient compared to electric or hydraulic hoists. Not only do electric hoists cost more initially, but they also raise electricity bills.
The simple design of manual hoists makes it easier to repair and maintain. No complex motors, wires, or electrical/hydraulic systems.
Although electric chain hoists can lift heavier loads, manual hoists can still have working load limits (WLL) up to 20 tons. As long as what you’re lifting is below that, there’s no reason not to opt for a manual hoist.
You can pick from two main styles of manual chain hoists: hand hoists and lever hoists.
Conclusion:
Are you up to date with the latest in construction equipment? It’s how you become more efficient and manage a safe work environment.
If you have questions or feedback, please share your comment on our page or tweet about your personal view and experience about chain blocks. Let’s learn from each other.
There are many reasons to want to value a house.
A new addition to the family may need additional rooms, a work promotion in another location, or even just time for a change may require the home to be sold.
Another reason to value a property is to identify a person’s current financial position. This may be necessary for those starting a business or needing additional finance.
How do people learn the value of their houses? Here are three ways.
Top 4 Ways Of Learning The Value Of Your House
1. Online Valuation Tools
One of the easiest ways to get a valuation is to use one of the many online valuation tools available. They use public data to price your home.
These tools use the automated valuation model (AVM). The valuations are based on data retrieved from public records like deeds of ownership, property transfers, and tax assessments. A mathematical formula is also applied, taking data from recent sales in the area.
The challenge with relying on AVMs is that they’ll value every property, regardless of the available data, possibly giving an inaccurate value.
To effectively use an AVM, do it from a real estate site that also includes a ‘confidence score.’ This value means a professional has checked the result from the AVM and given a score based on how close it is to market value. Any AVM plus a confidence score over 90% can be considered.
2. Comps
One of the most common ways to get a current value for a house is to check out recent sales in the same area.
Take a look around the neighborhood at comparable homes. These are known in the industry as ‘comps.’ When made public, the results of these sales can be an easy predictor of the values in the area.
An ‘apple for apples’ approach needs to be applied here. If the house next door is a little more run-down but has an additional bedroom, that value isn’t a good comparison. If one down the road, with an equal number of rooms, was renovated around the same time, that’s a closer valuation.
The way to get the best valuation for your home is to find four comps — two at the higher price range and two at the lower. Go for something that’s somewhere in the middle.
Remember that values change quickly; any sale over three months ago may not match the current market.
3. Professionally Appraised
The most expensive but arguably the most accurate way to value a home is to get it professionally appraised. These people have seen hundreds to thousands of comparable properties and can give you a correct value.
A 2018 survey revealed that ¼ of US homeowners valued their properties this way.
Lenders will require an appraisal before approving a mortgage; however, they’ll want it done by their own appraisers.
Appraisers may even suggest changes that can be made to increase the property value.
A professionally presented pre-purchase appraisal by a reputable appraiser makes it easier for the potential buyer to decide. This is one task that they don’t have to do.
Appraisers are independent contractors. They get paid per appraisal; they don’t earn commission and therefore offer unbiased opinions.
4. House Valuation Made Easy
Using an AVM is the most convenient way for a person to value their home; however, it’s possibly the least accurate.
Spending the time to compare recent sales on comparable properties in the area is a closer way to get a more accurate price. Choosing a value mid-range of these is the best way.
Unbiased professional appraisers will provide the most accurate value, but at a cost.
Whether using an AVM, checking out local comps, or hiring a professional, there is one surefire way to know the value of a house.
The value is whatever someone else is willing to pay for it!
Additional:
5 Ways A Home Maintenance Plan Can Prevent Disaster
How You Can Increase the Value of Your Home with Stone Veneers
6 Easy Ways To Make Your Home More Appealing To Buyers
What Qualifications Do I Need to Have to Get a Home Mortgage?
