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Palm Springs

Red Hill Real Estate Solutions LLC

Give us a call today at 951-356-5440 to let us know what YOU need help with!

The Do's and Dont's of Property Flipping

HOUSE FLIPPING DO’S

Budget, Budget, Budget

I don’t know a single investor who

has ever come in under budget on a house flipping adventure. If you do then you

are certainly in the minority. Budgeting is an essential practice. You need to

have a target budget and then have approximately 5% of the home purchase price

in reserves for what I call “Budget Busters” for when you exceed your initial

budget. Budget busters are typically the things that you uncover when

renovating your flip that you – of course didn’t budget for. Budget busters are

things like having to replace the bathroom floor because it’s rotten underneath

that old tile before you can put down new flooring when you weren’t expecting

to replace it. Or when you come in the house after a torrential rain and find

that your roof leaked all over you’re newly hung drywall and it has to be

replaced. Budget busters will always be a part of house flipping so to become

successful at house flipping you must have a budget that includes budget

busters.

Buy the worst home in the best

neighborhood.

Everyone says that the most

important thing to remember in real estate is location, location, location.

This should always carry over to your flips. Never buy a home if it is in an

undesirable neighborhood just because it’s a good buy. You will never be able

to sell it. Scour that great neighborhoods in your town and wait for just the

right one to pop up!

Never – I repeat – Never invest

more than a property is worth.

This is simple. Don’t put marble

floors and granite countertops in a $40,000 home. You will not get the money

you spent back out. Get the point. On the flipside never go cheap on an

extravagant home. For example don’t put peel and stick linoleum or Formica

countertops in a $500,000 home. You will never be able to sell it. Buyers in

that price range are looking for the extra amenities.

One word – INTERNET!

The internet is home to all the

knowledge and power you need to become successful in your house flipping

adventures. Information like finding foreclosures, HUD listings, property

assessment data and real estate listings are plentiful on the internet.

Find a Buyer before you List with

a Realtor or speak with our resolutions team at Red Hill Real Estate Solutions.

Ever heard of networking? You need

to let people know that you have a really good house that is going to be for

sale just pretty darn quick. And if you can get a potential buyer before you

list it with a Realtor then you have half of the battle done. I’m not saying

not to list you home with a Realtor; I’m just saying to try to find a buyer as

soon as possible. Even if I had someone that wanted to buy my current flip

before I was done with it I would still list it with a realtor. I would just

negotiate the commission. Because a Realtor is not just there to find a buyer

but to help you through the transaction and make sure everything goes smoothly.

Hire a good realtor!

This is of course not an entire

list of house flipping do’s but it is my best suggestions for becoming

successful at house flipping.

HOUSE FLIPPING DON’TS

Don’t quit your day job – yet!

My website is called Flipping for

a Living but that doesn’t mean that it is a golden opportunity for you to go

out and buy a crapper of a place, flip it, make loads of money and think that

there aren’t going to be some pitfalls somewhere along the way. Do it for a

while on the side and if and when you have tons of money in the bank for

reserves then consider Flipping for a Living.

Don’t put all your eggs in one

basket.

This coincides with don’t quit

your day job. Don’t put all of your investment trust and knowledge into house

flipping once you get to the point that you can actually flip for a living. I

believe that real estate is one of the best ways to make money but there are so

many facets to real estate, and house flipping is just one of them. Invest in other

types of real estate like commercial properties so that when flipping is slow

you will have your commercial properties making money for you. Or if you want

to own some apartments to rent out then do that. I personally don’t want the

headaches of having residential tenants but there are tons of people who make a

great living doing it.

This last don’t is an

absolute key to your flipping success:

Don’t over-redo your flipping

projects.

Be realistic about the potential gains

that are to be made concerning your flip. Like I said earlier don’t put marble

floors in a double wide and don’t put linoleum in a mansion.

Selling your home fast could be key to your next investment property

Red Hill Real Estate Solutions, LLC. is part of a nationwide group Give us a call today at 951-356-5440 to let us know what YOU need help with!

Are you looking to buy wholesale properties or to learn about alternative options?

Top 5 Reasons to Sell Your Home for Cash

Robert Vaughan 12.11.15

Selling homes for cash is becoming an ever more common practice, and in a market that is still recovering, there are a lot of reasons to consider selling your home for cash instead of taking your chances on the open market. Here are some of the top reasons sellers decide to take cash offers.


You Need to Sell Quickly contact an Acquisitions Manager at Red Hill Real Estate Solutions LLC at (949) 356- 5440

There are many situations where you may need to sell your home quickly. For example, maybe you got a job in another state, you’re in the middle of a divorce and neeed to split your assets, or you or a loved one is moving into an assisted living facility. While the normal process of selling your home can take months, cash offers can normally be completed within 30 days, and sometimes even within 2 weeks, so you’ll have the cash you need when you need it.


There’s No Need to Renovate or Stage Your Home

If your home is more than a few years old, and you want to get top dollar on the open market, chances are it’s going to need some renovation. But renovating a home and staging it for potential buyers can be quite a headache.

Even basic renovations like fresh paint, new flooring, landscaping, and updating kitchens and bathrooms can set you back thousands, and new furniture, window treatments, light fixtures, and accent pieces add up quickly too. And if other problems are uncovered during a renovation or home inspection, it could ruin your chances of making a profit.


There’s No Risk, and No Hassle

Renovating and staging can take weeks or months, and of course there’s no guarantee any of it will help sell your home quicker, or that you’ll recoup your investment. And with the market the way it is, gambling that a renovation will pay off and you’ll be able to sell quickly is a risk a lot of people don’t want to take.


You’ll Avoid Getting Stuck Paying Two Mortgages

Every day your house sits on the market is a day you’re losing money. Even if have a newer home, or made renovations prior to putting your house on the market, it could still end up sitting for weeks or months. And if your home is in need of renovation, there’s a pretty good chance it could sit for much longer. So even if you end up selling for a higher price, you may still end up making less profit.


You Don’t Have to Pay Agents or Listing Fees

When you sell your home for cash, you don’t have to worry about paying an agent commission, or pricey listing fees, so more cash goes directly into your pocket.

Are you looking to buy wholesale properties or to learn about alternative options?

Please call us today at (949) 356- 5440 if you’d like to learn more about the real estate services that we offer.


—

O.C. home prices up 4.4% in October

Looking to Buy or Sell in Orange County? Call your Red Hill Acquisitions Manager Now! 

at (951) 356-5440

High home prices are keeping a lid on residential appreciation rates in Orange County, with year-over-year gains holding steadily below 5 percent for the past year, according to CoreLogic figures released Tuesday. Have you thought or know someone who would like to sell there home fast for cash? Call our professional team at Red Hill Real Estate Solutions LLC at (951) 356-5440

The Irvine-based data firm’s Home Price Index shows that home prices were up 4.4 percent in the year ending in October, but were unchanged from September levels.

That’s a small gain compared to neighboring housing markets.

CoreLogic’s HPI showed that home prices notched upward 6.8 percent year-over-year in Los Angeles County. In the Inland Empire, prices were up 6.2 percent from October 2014 levels.

Home prices increased 6.8 percent in the nation as whole in October, while the statewide appreciation rate was 7.2 percent.

Smaller price gains are expected in the year ahead, however. The CoreLogic HPI forecast calls for a 5.2 percent increase by October 2016.

CoreLogic Chief Economist Frank Nothaft attributed this year’s higher appreciation rate to a low number of homes being offered for sale, conditions that are likely to persist in early 2016, he said.

“Home equity levels are now approaching pre-recession levels,” CoreLogic CEO Anand Nallathambi added. “As we move forward, the rise in home prices will need to be better correlated to family income trends over time to avoid homes becoming affordable for many.”

If you need help organizing your thoughts or want even more trends and stats about your local neighborhood or maybe you would like to know how to sell your home "AS IS" our real state consultants are standing by at (951) 356- 5440 or visit us at http://www.redhillrealestatesolutionsllc.com/

Are you in a buyer's or seller's housing market?

Housing supply is tight in most cities across the United States, but that does not mean that every market is a seller's market. So when you need to sell your home fast. 

Red Hill Real Estate Solutions LLC

Today's home-buyers are a finicky lot and a mortgage-dependent lot and a confidence-lacking lot; they may want to buy a house, but they're not as willing to be as "house poor" as they might have been in the past. That is why it is more important than ever today, as both a buyer and a seller, to know your market well and know its housing value even better.

Less than a third of U.S. housing markets are seeing homes sell for above asking price, 60 percent are still seeing homes sell for below and about 14 percent are seeing homes go at market value, according to RealtyTrac, a real estate sales and analytic s company. At the same time, a larger-than-normal percentage of sales are being done all in cash, which increases competition even in markets where home prices are not soaring ever higher.

As always in real estate, sellers need to know what the market will pay, and buyers need to make smart bids. In today's market, those truths are more acute than ever, as an increasing number of buyers compete for a dwindling number of listings. Even in a tight market, some homes will sit if not priced correctly.

So where are sellers in the driver's seat? No surprise, the Bay Area of California, where homes are selling for 108 percent of asking price on average, according to RealtyTrac. Sellers are also getting more than asking in Washington, D.C., Winston-Salem, North Carolina, and Cass County, North Dakota.


Buyers are more in control in St. Louis, Baltimore, Pittsburgh, Atlanta and Burlington, Vermont. Sellers are getting around 80 percent of asking price in these markets, even though supplies of listings are still limited its important to know that offices like Red Hill Real Estate Solutions LLC. can offer solutions and can sell your home fast for cash..

Where are the stakes even between buyer and seller? Raleigh, North
Carolina, the D.C. suburbs in Montgomery County, Maryland, Los Angeles and Riverside County, California, Orange County, and the Phoenix metropolitan area.

Home price gains have been accelerating nationally for the past several months, thanks to tight supply and still-low mortgage rates; builders are still operating below a normal pace, and a lot of potential sellers are still reluctant to list, as they fear they will find nothing they like or can afford to buy.

Should mortgage rates move higher, as some expect, the dynamics in all of these markets could shift dramatically. For now, though, it is good to know as much as possible about your market's value, and even better to know when to walk away.

Get the truth about your home and how we can help you sell it fast to resolve any situation. Please Call 951-356-5440

Down Payments: Percentages Trend Lower as Amounts Rise! Selling your Home Fast could be the Key?

Down Payments: Percentages Trend Lower as Amounts Rise

November 2, 2015, 6:30 am
Robert Vaughan

Are those sought-after first-time home buyers finally re-emerging? How do you sell your home fast?adviser at Red Hill Real Estate Solutions Inc. RealtyTrac said on Thursday that they may be the reason that the average percentage of down payments used to purchase single-family homes, condos, and town homes in the first quarter of 2015 was at the lowest level in three years. Red Hill Real Estate Solutions LLC team can answer these questions and they can sell your home fast for cash.

On average home buyers put down 14.8 percent of their home's purchase price compared to 15.2 percent in the fourth quarter of 2014 and 15.5 percent a year earlier. This was the lowest average percentage for a down payment since the first quarter of 2012.

"Down payment trends in the first quarter indicate that first time home buyers are finally starting to come out of the woodwork, albeit it gradually," said Daren Blomquist, vice president at RealtyTrac. "New low down payment loan programs recently introduced by Fannie Mae and Freddie Mac, along with the lower insurance premiums for FHA loans that took effect at the end of January are helping, given that first time home buyers typically aren't able to pony up large down payments. Also helping tilt the balances toward first time home buyers in the first quarter is less competition from the large institutional investors that have been buying up starter home inventory as rentals."

Even at an average rate substantially below the traditional 20 percent buyers are making a substantial out-of-pocket investment. The average dollar amount put down was $57,710 compared to $57,618 in the previous quarter and a slightly higher 57,992 in the first quarter of 2014.

The average down payment on an FHA loan was 2.9 percent of the purchase price or $7,609 while conventional loan down payments averaged 18.4 percent or $72,590.

High loan-to-value (LTV) ratio loans - 97 percent or higher or with a down payment of 3 percent or less - made up 27 percent of purchase origination's in the first quarter. This was a one percentage point increase over both the previous quarter and the first quarter of 2014 and was the highest share since the second quarter of 2013. Eighty-three percent of FHA purchase loans originated in the first quarter were high LTV and 11 percent of conventional purchase loans.

Among the nation's 20 largest counties with down payment data available those with the lowest average down payment percentage were Wayne County (Detroit), 12.0 percent; Philadelphia County, (12.6 percent), Clark County (Las Vegas), 13.3 percent, Riverside County, California, 13.7 percent; and Maricopa County (Phoenix), 14.2 percent. The highest average down payments were in three counties in the metropolitan New York area, Santa Clara and Orange Counties in California. Markets with the highest percentage of low down payment loans in the first quarter included counties in Atlanta; Washington, D.C.; El Centro, California; Worcester, Massachusetts; and Charlotte and Greensboro in North Carolina while the lowest share of low down payments were in New York County, the Bay Area, and Kings County (Brooklyn

RealtyTrac pointed to several trends through the quarter. First, FHA loans represented a larger share in each month of the quarter, rising from 21 percent in January to 25 percent in March. Second, while overall low down payment loans increased as a share of origination's through the quarter the low down payment share of conventional loans moved in the opposite direction, from 11 percent in January and February to 10 percent in March while the share of FHA loans that were low down payment loans increased throughout the quarter, from 83 percent in both January and February to 84 percent in March. If you are one of the many homeowners who have fallen behind on your mortgage payments and you don't see any way to avoid foreclosure, a short sale may offer you the least painful way to resolve the situation. Speak to our resolutions team and find out what your options are with Red Hill Real Estate Solutions LLC

Red Hill Real Estate Solutions, LLC. is part of a nationwide group Give us a call today at 951-356-5440 to let us know what YOU need help with!

Estate Sales Montebello CA

Estate sales Montebello CA (or tag sales in some parts of the country) are increasingly used in the U.S. for the four “Ds:” Death, Divorce, Debt and Downsizing. Would you know how to sell your home fast if you needed to? Sometimes when the neighbors are close friends, we can add one more “D,” desertion. It feels like that doesn’t it?

Does it ever shock you when your neighbors here in the Montebello area decide to sell almost everything they had accumulated over the years and move to Oregon, Florida, Charlotte, or just become expats? They worked hard to buy the large dining room table and eight chairs, the sofas, the lamps, the art work, the beds and exercise equipment, the outdoor furniture and even the BBQ that practically cooked by itself. They start with a couple of garage sales, but the big stuff was is auctioned or sold at estate sales Montebello, CA. Did you know their are professionals like Red Hill Real Estate Solutions who can pay cash for your house?

Expect to see more estate sales because Baby Boomers who make up the largest demographic in the U.S., those born from 1946 to 1964, are reaching the age of 65 at a rate of 10,000 a day. That trend will continue until 2029. For the most part the kids are gone, the house seems too big, there’s a lure more toward temperate climate and a desire for snow less winters, Getting rid of their stuff and starting over in some new land is appealing in many ways.

Another factor leading to estate sales, parents of those reaching 65 are dying while the kids are downsizing. They have nowhere to put their parent’s furniture. As if that isn’t enough, the divorce rate for those around 50 has doubled recently, and debt, the American way, continues to claim victims in this slow economy. Getting rid of what George Carlin referred to as “stuff,” requires more than a garage sale. It requires a professional. Enter the estate liquidator.

Estate sales are public sales conducted by estate liquidators, in the house of the seller. The seller is asked to remove everything they want to keep and all the rest is tagged with a price. The estate liquidator uses their vast knowledge to set a price on each item that maximizes the price with an eye on liquidating everything quickly. The estate liquidator may offer a price upfront for everything, or take a percentage of the sales. The estate sale is held over a weekend, and items are sold on a first come, first served basis. After the sale, unsold items are donated or junked.

If you experience the four “Ds:” Death, Divorce, Debt and Downsizing and want to sell your house fast, give us a call. We are Red Hill Real Estate Solutions, LLC and we are here to help homeowners out of any kind of distressed situation . As investors, we are in business to make a modest profit on any deal, however we can help homeowners out of just about any situation, no matter what! There are no fees, upfront costs, commissions, or anything else. Just the simple honest truth about your home and how we can help you sell it fast to resolve any situation.

Give us a call today at 951-356-5440 to let us know what YOU need help with!