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You may think it’s only the tenant who has a hard time paying the mortgage, but as a real estate investor or landlord, there may be times when it’s hard to pay the mortgage on your end as well. Here are some things you can do to avoid facing difficulty in paying your mortgage each month.

Keep your properties full. While it may sound overly simplified, this is the most obvious method for ensuring you’ve got rent money coming in each month to cover your property mortgage payments. Don’t allow yourself to get slack on advertising for new tenants. And don’t put off screening applicants or filling your properties because you get busy or overworked. Recognize filling your vacancies as a major aspect of your REI business success and deal with it quickly and efficiently every time.

Do your best to find quality tenants. While you want to keep your properties full, finding good quality tenants is key. By “good” it means they pay their rent on time, keep the property maintained and don’t abuse the lease. By using background and credit checks, you can find the best tenants available and thereby do what’s possible to keep your rental fees coming in regularly, which will help you pay the mortgage when it comes due.

Look for longterm tenants. Don’t assume that quality tenants will necessarily be longterm ones. Some good renters may know they can’t stay over a few months at most. They may be students or working a temporary job. They may just be living in an area waiting to move or retire somewhere else. Whatever the situation, opt for longterm renters when the choice is available. Doing so will make filling a vacancy at least a more infrequent possibility.

Keep the property well maintained. If you want good tenants, longterm tenants and tenants who pay their rent on time, do your part to keep them. Deal with maintenance issues quickly. Make repairs as necessary. Upgrade appliances or at least ensure the ones you provide are in good working order. Respond to your tenants’ calls quickly, or if you can’t be sure they know you’ll be unavailable for awhile.

Being a good landlord will go a long in way in developing lasting relationships with your tenants, which will in turn, help you keep them in your property longer. Often a tenant and landlord relationship can turn an average tenant into a great one simply because they want to keep that relationship intact.

In a tough economy, it’s important to do all you can to avoid facing the difficulty of paying the mortgage. That applies just as much to an REI professional as it does to the average renter. These simple tips can help as you work to develop lasting, longterm, rent paying tenants to keep your properties bringing in the income you need every month.

The market is cooling down here in the Houston market. But you might be wanting to sell your house in HOUSTON. You will likely have to make many decisions in this critical, important process. Learn about potential mistakes home sellers can avoid and about the services professional home buyers offer in HOUSTON!

Here are some of the things to consider when selling your house. Sellers can mistakes that cost them thousands of dollars, but here’s some ways to avoid them. The first step is learning what they are!

#1 – Not Exploring Options

You don’t have to list your house in HOUSTON in order to sell it. You can choose to sell it yourself either on the market to traditional buyers or directly to an investor or professional house buyer such as Bluebonnet House Buyers. A house buyer can work with whatever situation or duress you may be under. In stressful times, a professional can help. What works for one property seller may not work for you. Before you call an agent, take a look at what is available to you! Learn about what we can offer you for your HOUSTON property! There is never any obligation.

#2 – Pricing It Incorrectly

If you choose to list your house, one of the biggest mistakes you can make is pricing it too high out of the gate. Many sellers have an over-inflated price in their head, trying to get as much as possible, without considering what will be a realistic price to sell for. Some agents will advise you to list high so they can convince you to sign with them, while they take a shot at scoring a higher commission.

#3 – Not Cleaning Up the Clutter

Imagine if it were you viewing a property. You wouldn’t want to see someone’s vitamins on the table, family photos everywhere or their stack of mail on the counter. Seeing personal items strewn about can make people feel very uncomfortable. They need to be able to imagine themselves in the house, not feel as if they are intruding on someone’s space. Some people will pack up everything but the necessities and put it all in storage until the house has sold.

#4 – Not Considering All Costs

If you decide to list your HOUSTON house, there are all sorts of costs to consider.  Not only are there agent commissions, but also agent fees, administrative costs, marketing costs, listing fees, closing costs and more. All of which can be avoided with a direct sale to Bluebonnet House Buyers.

#5 – Not Making The Needed Repairs

Not doing some things up front will cost you down the road. Once your buyer does an inspection, they will often ask for a number of things to be fixed. You might be blindsided by the number of repairs your house needs. Some sellers choose to have their own inspection done before listing so they have an idea of what they are in for. Taking care of the problems up front will save you time and money down the road.

Or simply sell to Bluebonnet House Buyers as-is.

#6 – Not Disclosing Items Upfront

These items will come back to bite you. If the house flooded, let them know. They will find out. Either in the inspection or when the new owner talks to the neighbors. By law, you have to disclose what you know about the property.

#7 – Not Putting Away Pet & Kid Stuff

While kids and pets are wonderful, not everyone has them. Some people will feel a little uncomfortable if there are chew toys on the couch or legos all over the floor. Remember, the experience is about them. Make the areas feel neutral but welcoming.

#8 – Not Putting Personal Feelings Aside

This is business. If someone comes to view your house and you hear them say they want to pull out the garden to add a deck, don’t get too hung up on it if they plan on paying you the price you want. While you might feel a little sad, this is business, and missing out on a qualified buyer because of something petty can be a huge mistake.

#9 – Hiring A Bad Agent

It can be easy to hire the wrong agent. Some are full of charm and are great at sales. This is great when they are trying to sell your house, but they also use this charm to get you to sign with them. Make sure they aren’t making false promises or are only worried about their commission. You can look at reviews, but it is best to hear first-hand experience from people you know and trust. You simply aren’t going to click with everyone either. You might find the top agent in town can be incredibly stressful to work with.

 

#10 – Not Calling Bluebonnet House Buyers First

Bluebonnet House Buyers will provide you with the information you need to help you decide how to sell your house. There is never any pressure to sell or obligation when you give us a call. As professional HOUSTON home buyers, we want to work with you to help you make smart decisions about how to sell!

Are you ready to sell a house in HOUSTON? We can help! Send us a message or give us a call today! 832-377-7722

Ready to sell your house in HOUSTON? There are a number of things you can do to add value. However, not all of them are worth the investment. In our latest post, learn more about what to spend money on when selling your house in HOUSTON and how to reduce your costs!

There are a few different ways you can opt to sell your HOUSTON house. You can choose to sell it as-is to a company such as Bluebonnet House Buyers or you can choose to list it. While the first option requires little time and no money out of pocket, listing your property can get pretty expensive up front. It is important that you use your funds wisely, only paying for upgrades and improvements that will really add value to your house. Here are just a few of the things we recommend doing if you decide to list your HOUSTON house:

Curb Appeal

Many people decide whether or not they will buy a house within the first few seconds of seeing it. Subconsciously, that first impression buyers receive is critical. You need to convey a feeling of warmth, making them feel at home from the minute they pull into the driveway. Spend money fixing up the landscaping and replacing things like the mailbox, address numbers, and front door. You will have to keep up with mowing the lawn and other landscaping needs. Each person who views the house should see a well-groomed front yard.

New Interior Fixtures

New fixtures are a great way to add more value to your house. Replace things like door handles, faucets, drawer pulls and cupboard hinges. You will want to properly budget for this as you might need more new doorknobs than you think!

Define Spaces

Make the spare bedroom, the spare bedroom. Not the spare bedroom, gym, and office. By having undefined spaces, you can make the buyer feel confused subconsciously. If it is used more for an office than remove the bed. Either way, make it known what you are using the space for.

Spruce Up The Entryway

First impressions matter. When people walk in the door, they should receive a good feeling about the place. Spend some time sprucing up the entryway so people feel right at home. Add side tables, new art or a fresh vase of flowers.

New Carpets

Bad carpet is a huge turnoff for homebuyers. Stains and wear can be extremely offputting when someone is considering the home for themselves. Adding new carpet throughout the house will refresh the entire space, making the area look new.

Paint

Painting is the first thing many people do when putting their house on the market. While you can possibly do this one on your own, it doesn’t mean you should. A poor paint job will be very noticeable to buyers looking at your house. Spend the money to hire a professional to do the interior of your home. Be sure to budget a few thousand for this depending on the size of your HOUSTON house, and be sure to keep the colors neutral. Don’t try to spot paint over damaged areas. It will be noticeable to buyers and the home inspector, leading them to wonder what else you are hiding.

Staging & Storage

It is highly recommended to hire a professional staging company while the house is on the market. This will allow you to pack up your personal items and store them at an offsite facility. Keep only your necessities at the house, allowing the rest of it to be taken care of by a professional. If it’s not in your budget to do the whole house, focus on having a few of the main rooms done. You will still want to remove your personal items during property showings. By storing them offsite, potential buyers won’t be faced with all your stuff you tried to hide in the closet!

Before you spend money making repairs to the house and doing some of these things to spruce it up, consider what selling directly could mean for your situation! With a direct sale, there is zero cost to you! Plus, there aren’t any agent commissions!

Are you ready to sell a house in HOUSTON? We can help! Send us a message or give us a call today! 713-777-9998