RealEstate2XL.com
How Do You Excel?
How Do You Excel?
RealEstate2XL.com - FAQ's
In what areas of town are your properties?
We don't really have specific areas of town. There are certain zip codes that have tiny pockets of nice areas in which we invest. There are other zip codes where the entire zip code is in demand. We just stick to areas where the neighbors take pride in their own homes and to areas that we ourselves would want to own an investment property.
How do we know your repair estimate will be correct?
You don't. And you will never know that with any contractor, ever, until you use them. We do the best we can to get a true estimate to repair the property to GOOD condition. We don't cut corners. We don't skip things that will need to be addressed in a year anyway. Occasionally, our estimates are 1 or 2 thousand under the final repair bill. But just as often, our estimates are 1 or 2 thousand above the final repair bill. You simply will not know every single possible detail until you start tearing down the walls and getting into the work. But we've ben doing this long enough that we have a very good handle on things.
How do we know your "After Repair Value" is a solid number?
Couple reasons. One of our owners is an appraiser and has been for years. But more importantly, with the market in the state that it is currently in, properties are being sold for a pittance of what they once sold. So any appraised value is going to contain some foreclosure sales and/or some "distressed" sales figures. Therefore, the appraised value will almost invariably be slightly LESS than the actual value of the home.
Where do you get the tenants from?
With few exceptions, all of the tenants we place are Section 8 tenants. Therefore your rental income will be paid by the housing authority each and every month, without fail. Each 12 months the tenant either renews or a new tenant is placed. For the most part a happy Section 8 tenant will stay for several years, at a minimum.
I've heard horror stories about tenants tearing up houses. Should I be worried?
Not really. You will have trials and tribulations with ANY business in which you work. But I'll say this. Between the two of us, we've owned dozens of rental properties and neither of us have had one tenant destroy a property. Just hasn't happened. People are, for the most part, good people. Plus, they don't want you to sue them so even if they're not happy with you, they typically just leave.
In addition, 99% of the tanants with whom we deal with now, are Section 8 tenants. They're getting 90 to 100% of their rent paid for by the housing authority. They do not want to jeopardize that free money which they will definitely do if they do not leave a property in at least fair condition.
Seems to good to be true. Is it?
No
OK, I think I'm ready to do this. Whom do I call?
Contact Steve at 678.520.5898 or steve@RealEstate2XL.com.
We don't really have specific areas of town. There are certain zip codes that have tiny pockets of nice areas in which we invest. There are other zip codes where the entire zip code is in demand. We just stick to areas where the neighbors take pride in their own homes and to areas that we ourselves would want to own an investment property.
How do we know your repair estimate will be correct?
You don't. And you will never know that with any contractor, ever, until you use them. We do the best we can to get a true estimate to repair the property to GOOD condition. We don't cut corners. We don't skip things that will need to be addressed in a year anyway. Occasionally, our estimates are 1 or 2 thousand under the final repair bill. But just as often, our estimates are 1 or 2 thousand above the final repair bill. You simply will not know every single possible detail until you start tearing down the walls and getting into the work. But we've ben doing this long enough that we have a very good handle on things.
How do we know your "After Repair Value" is a solid number?
Couple reasons. One of our owners is an appraiser and has been for years. But more importantly, with the market in the state that it is currently in, properties are being sold for a pittance of what they once sold. So any appraised value is going to contain some foreclosure sales and/or some "distressed" sales figures. Therefore, the appraised value will almost invariably be slightly LESS than the actual value of the home.
Where do you get the tenants from?
With few exceptions, all of the tenants we place are Section 8 tenants. Therefore your rental income will be paid by the housing authority each and every month, without fail. Each 12 months the tenant either renews or a new tenant is placed. For the most part a happy Section 8 tenant will stay for several years, at a minimum.
I've heard horror stories about tenants tearing up houses. Should I be worried?
Not really. You will have trials and tribulations with ANY business in which you work. But I'll say this. Between the two of us, we've owned dozens of rental properties and neither of us have had one tenant destroy a property. Just hasn't happened. People are, for the most part, good people. Plus, they don't want you to sue them so even if they're not happy with you, they typically just leave.
In addition, 99% of the tanants with whom we deal with now, are Section 8 tenants. They're getting 90 to 100% of their rent paid for by the housing authority. They do not want to jeopardize that free money which they will definitely do if they do not leave a property in at least fair condition.
Seems to good to be true. Is it?
No
OK, I think I'm ready to do this. Whom do I call?
Contact Steve at 678.520.5898 or steve@RealEstate2XL.com.
Full Service Real Estate Investing Service.
We will find a property for you in a suitable area of town.
If we don't already own the property, we will negotiate the purchase contract for you.
We will estimate repairs and guarantee that the repairs are done on time, within budget, in a quality manner.
We will place a tenant, typically Section 8, in the property for you and hand you the reigns at that time.
If we don't already own the property, we will negotiate the purchase contract for you.
We will estimate repairs and guarantee that the repairs are done on time, within budget, in a quality manner.
We will place a tenant, typically Section 8, in the property for you and hand you the reigns at that time.
