Unfortunately, the human mind is not a perfect instrument for making decisions. Our brains are hard-wired with cognitive biases that affect the rationality of our decisions, whether we like it or not. Learning to overcome these biases is not as simple as flipping a switch.
House flipping is something every real estate investor has thought about trying at one point or another. It offers a chance for huge returns over a short period of time, but it can also prove to be costly if you don’t know what you’re doing when doing a house flip.
In addition to picking the right property, one of the most important skills is to accurately estimate repair costs on the front end so you maximize profits on the back end. While this is an acquired skill that you’ll become better at over time, it’s imperative that you learn about how to estimate rehab costs before entering into your first deal. … [Read More]
As a seller, you’re obviously inclined to accept the highest-priced offer you can. In a competitive seller’s market, you might receive lots of offers at once, with some of them going well over your initial asking price. Even in a buyer’s market, with plenty of inventory to choose from, you may be forced to consider a lower-priced offer.
In general, the seller’s decision is fairly straightforward; optimize your timing and strategy to nab the offer with the highest price. However, there are some situations where you might accept the lower of two competitive bids, or a price much lower than your asking price.
A lot of people have an unrealistic view of what the home buying process looks like – particularly if it’s their first time buying a home, or they have a past experience in which everything went swimmingly.… [Read More]
Have you ever dreamt of designing and building your own home? Do you have Pinterest boards filled with ideas? Do you look at homes and think, I would have done that differently? Building a home certainly isn’t easy, but it’s also not as lofty of a goal as you might think. The most important step is hiring the right builder – of which there are many.
Building a house is a huge responsibility that comes with lots of pressure and decisions. While you have a team of people to handle the intricacies of the process – including an architect and builder – you have to think about the big picture and designing. The more strategically you think about your home’s design now, the more satisfied you’ll be with the finished product.
Real estate transactions are complicated for several reasons. They involve legal, financial, and emotional aspects – many of which are intertwined together.
In order to make sure a real estate transaction involves a smooth transfer of money and ownership, there are a number of closing costs associated with a normal deal. While no single fee, payment, or tax is exuberant, they can compound and become rather expensive. Knowing how to lower your closing costs could be the difference between spending more than you have to and staying within a reasonable budget.
The ROI of real estate investing is well known. In fact, you’ll be hard pressed to find any investment vehicle that delivers a higher return than real estate over a three-, five-, or ten-year period.
So, why do so many people with the means to invest in real estate never give it a go? Contrary to popular belief, it’s not laziness or complacency. In most cases, a failure to invest has more to do with fear than anything else.
Smell is a funny thing. All it takes is one whiff of something and your mind can be taken to a totally different place.
For many, fresh cut grass takes them back to summers playing baseball in the backyard. Popcorn is associated with movie theaters. That one perfume your best friend wears reminds you of high school prom. There are smells you don’t even know you’ve committed to memory until you encounter them again many years later – such as your grandparent’s house. … [Read More]
For many Americans, a home in a gated community is a goal that will verify wealth and success. When you live in a gated community, there’s a sense of privilege that comes with owning the property at that address.
If you wish to purchase such a home in the Houston region, there are plenty to choose from. The Woodlands is one of the most highly valued areas, and it can boast of an array of prestigious, gated neighborhoods.… [Read More]