HomeRun Homes Rent to Own Homes Blog

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HomeRun Homes is a centralized marketplace which helps people Find or Sell a Rent to Own Home, both Nationwide and Globally to the thriving Rent to Own Market. http://www.lease2buy.com
Showing posts with label deals. Show all posts
Showing posts with label deals. Show all posts

December 20, 2010

Drumroll...Your Top 5 Favorite Blog Posts of 2010

Hi Folks,


   Welcome back to Christmas week. If you were anywhere near a mall or a shopping center this week, you know that the traffic was at a crawl and the stores were bursting with people. You would think there was no such thing as a recession !

   Well, it's time to get all nostalgic with you. You have all gravitated to certain posts this year, and we are going to give you your Top 5 Favorite Blog Posts of 2010, starting with #5 and rounding it down to the Top Post of the year !

   Coming in at #5 is the Blog Post titled, "Post-Foreclosure REO Property Maintenance", in which we investigated into how the REO properties are being maintained while they are unoccupied.

   Coming in at #4 is the Blog Post titled, "Buying a Foreclosure? What You Need to Know First...", in which we spoke to numerous experts and foreclosure "gurus" for their suggestions on how to navigate the foreclosure property marketplace.

   The #3 Top Blog Post is titled, "Private Money...Any Available For Real Estate Deals?". In this post, we spoke with members of the lending community to gauge the availability of private money to fund Real Estate deals, and we received a number of different perspectives on this topic.

   Coming in at #2 is the Blog Post titled, "Top 5 Concerns When Selling a Home FSBO", which received a lot of traction and was ReTweeted and used in many articles and write-ups, due to the useful tips provided in the post. The sub-topics of selling a home as a "For Sale By Owner" (FSBO) that were covered in this post were Legal Concerns, Preparation of the Home, Mechanics of the Sale, Addressing Security Concerns, and Marketing the Home.

   Drumroll Please !! Your #1 Blog Post based on views, Tweets, Diggs, etc, was, "Right Time to Buy? Top Real Estate Investing Markets", in which we discussed the hottest markets for Real Estate investments. We spoke with many experts and investors across the country to provide you the best possible information. Even though this post was written a few months back, not a lot has really changed, so it is still worth a read and worthy of sharing with your peers.

   So, there you have it; The Top 5 Blog Posts of 2010, based on your views and usage of the content. We hope that we can continue to provide you with valuable and useful content, and all we ask of you is your faithful readership, your valuable comments, and for you to Retweet and Share our posts using the handy little buttons and links below the posts and on the side column of the Blog.

Have a Great Week, and Happy Rent-to-Owning !
Regards,
Rob Eisenstein
HomeRun Homes Blog http://blogging.lease2buy.com
HomeRun Homes Website http://www.lease2buy.com/


#realestate #foreclosure #realestateinvesting #reo #forsalebyowner #fsbo

November 10, 2010

UPDATED: Private Money...Any Available For Real Estate Deals?

Hi Folks,


   Happy Mid-Week to everyone, and welcome back.

   When we posted on the topic, "Best Markets For Commercial Real Estate Investing", we had a few requests to cover the topic of "Private Money", so as per your request, that is our topic for today!

   We spoke with 3 respected figures in the field to gauge their feeling on the topic. All 3 of them seem to agree that there is private money out there that is available for Real Estate deals, and we present their viewpoints below.

   Alfred Miller, President, Private Lending Solutions, LLC, states that, "Capital isn't scarce; vision is. There is tons of money available for real estate deals.", but says that he wants his, "money invested in solid deals (diamond in the rough)!" and the deals can be either residential or commercial.

   Vernon Martin, a commercial appraiser with American Property Research, who specializes in serving private lenders (96% of his work is for private lenders), says that, "There's no shortage of money waiting to be lent, but there also seems to be a shortage of credit-worthy deals.", which is similar to what Miller has said. "Most loan applications to private lenders are for refinancing deals which are already over leveraged, so there is no way the borrower can pay off existing debt at a safe loan-to-value ratio", says Martin.

   Martin also says that private lenders are, "very interested in financing REO purchases by new investors.", and provides an example, where last week, he worked "on a $35 million construction loan that is being purchased for only $5.2 million. The private lender feels safe in lending $2.8 million. The difference is that loans can be underwritten at today's market values without any disappointment to the borrowers.". Martin points out that some private lenders are looking overseas for deals in potentially "stronger markets" (i.e., "Canada, Australia, Fiji, Barbados, South Africa, Mexico, Costa Rica and Jamaica.")

   Dennis P. Fassett, a Real Estate Investor who interacts with many sources of private money, says that, "there's quite a bit of private money out there. But it's gotten more difficult to get to, despite what the late night gurus want people to believe.", which he attributes to, "the stock market crash and Bernie Madoff scandal". The impact of the crash and the scandal had a few ripple effect impacts on private lending, Fassett says, such as, "with people out of the market, there is a lot more money on the sidelines looking for a reasonable rate of return", and "the Bernie Madoff scandal has made a lot of people quite wary of where they invest their money.",and says that, it's ironic that the scandal has also helped make local real estate investing more attractive, because the investor can go drive by the asset that they either lent against or have an equity piece of."

   Fassett provides a hint into the mentality of the private investors. He finds that, "the private investors that I deal with are looking for a track record for one and a sense of stability by me as well. I'm fortunate that I have couple of dozen deals and now own or control 54 rental units in nice areas that are all doing well. I had one investor tell me that one of the reasons that he invests with me is because I have a whole lot to lose if I screw up in terms of reputation in the community.", and he continues to say that he's also finding that, "the direct approach to getting private money doesn't work anymore, as people are getting pitched to death about everything under the sun, so I have switched to an oblique approach that focuses on drawing people into being interested in my business to the point where they ask questions and close themselves."

   As the recession lingers on, Michael Stark, a licensed real estate broker in California, is clear about the future. "The greatest transfer of wealth since the Depression is underway.". Where this will ultimately channel the private funds is yet to be seen, however, we all hope and pray that it stokes our housing market and the economy. Comments are welcomed !

Have a Great Day, and Happy Rent-to-Owning !
HomeRun Homes Blog http://blogging.lease2buy.com
HomeRun Homes Website http://www.lease2buy.com





UPDATED: Top 5 Blog post for 2010 (For more information, CLICK HERE)

September 22, 2010

Misuse of Tax Funds During Lean Times

Hi Everyone,
   Hope your week is going well. I have a few miscellaneous topics that I would like to touch on today.

   I'd first like to rant about the silly misuse of tax funds during lean times. In Central Long Island, we have many double-yellow two-way roads that weave through multiple different communities. The problem is that the traffic always tends to back up due to the growing population, coupled with the fact that it is only one-lane Eastbound and one-lane Westbound.

   Now, fortunately, towards the end of last year, they began a project which we believed would be to widen the road (2 lanes Eastbound/2 lanes Westbound). They reclaimed property from the sides of the road, cut down trees, and tied up traffic even further with this project. However, after a few punctured tires and ruined front-ends on our cars, we stuck it out, assuming that we will all be in a much better place with that extra lane.

   Pay Attention - here is the kicker; They are putting an island in the middle of the road to separate it ! Almost one year of work just for an island? OK, in all fairness, I think that there will be a left turning lane carved into the island, but was that really worth the effort and the capital expenditure?

   Now that my rant is over, we received an interesting suggestion that we are considering, and it was from a Real Estate Agent that said we should let Agents put their picture on their Realtor/Home Services Ad. This is a very good point, and it is something that we will discuss with our developer. Please keep the suggestions coming in...it is our way of making sure you are happy

   As for the Public Speaking Appearances, we are currently in talks with 2 different East Coast REIAs, a West Coast Real Estate Investing Group, A Real Estate Wealth Investing EXPO, a Canadian Real Estate Convention, and a few other parties. Some of the topics that will be discussed at these events (by yours, truly), are Rent to Own Homes, Real Estate Investing, analysis of deals, marketing yourself, finding deals, staying motivated, and staying focused. Please make sure you reserve me for your next event, since it appears that I will be quite busy the next few months with these venues.

Have a Great Week, and Happy Rent-to-Owning !

July 28, 2010

Toxic Asset Fraud...Does it Upset You?

Good Morning Everyone,


   I hope you're having a great week ! Thank you for your comments on our 3-part series on the home-building process, and to those of you who have asked about turning a pre-built home into a Rent to Own arrangement, we mentioned in our last part of the series that, "...there are many builders who build homes and will then Rent them with an Option to Buy (Rent to Own Homes), so it requires a little bit of homework on your end to find these builders." It will be on a hit and miss basis, but for those builders that read our Blog, please feel free to raise your hand if you would be amenable to a Rent to Own on your properties.

   The other day, I heard an insane story on NPR (Public Radio), about an investigation that was done by the Sarasota Herald-Tribune, where they looked at 19 Million Real Estate Transactions in Florida and found that, "...more than 50,000 Florida properties flipped under suspicious circumstances from 2000 through 2008", and they commented that, "Those flips artificially drove up housing prices and tax bills and contributed to the crush of foreclosures".

   NPR took a closer look at this investigation and purchased a piece of the bonds that are backed by these "toxic assets", and with the help of the Herald-Tribune (and reporter Michael Braga), they were able to see some of the people behind their toxic purchase (as part of those 50,000+ suspicious deals). This massive amount of suspicious deals included one attorney who defaulted on 5 loans totaling 3.6 Million dollars! Additionally, some of the other loans were tied into a group of investors who lied to banks to get loans. Overall, it was a frightening glimpse of what was going on under our noses.

   Can this happen again? We certainly hope not. But mankind is funny; there is good and bad. The bad are always finding new loopholes and ways to get around the rules. So it takes diligence and we need to always keep fresh in our memory the disaster these people have caused, the homes that have been lost, the livelihoods that have been lost. This has changed the Socio-Economic landscape for everyone for a long time to come. OK, time for the punishment to be be handed out ! We welcome your comments and thoughts, since this is a hot-button topic that irritates a lot of people (like myself)...

   Side Note: The full copy of our past few months of Blog Posts is available to download for Free ! You can use the following link (CLICK HERE) to download and save your copy today (it is in .pdf format). Enjoy !

Have a Great Day, and Happy Rent-to-Owning !

July 12, 2010

Common Misconception: Realtors ARE Welcome !

Hi Everyone,

   We hope you had a great weekend, and welcome back.

   Today, we would like to address a very common misconception, and we would like to clarify this for all of those who have asked us about this. We receive countless E-mails from Realtors, real estate agents, real estate brokers, etc, with some wonderful comments about our website, but telling us that since they are Realtors, they cannot use our website. This is a huge misunderstanding on the part of these individuals and companies, and we would like to discuss this today, since this one fact is holding them back from finding buyers for their homes for sale (or homes for Rent to Own), and simultaneously, is taking away from extra responses that buyers on our website can have presented to them.

   We would like to put this right out into the open to all people in the Real Estate industry; We are not your competitors - we are your friends and your resource.

   We are here for buyers, sellers, investors, Realtors, and anyone who is selling a Rent to Own Home, Buying a Rent to Own Home, or is offering home-related services (appraisers, attorneys, Realtors, mortgage brokers, etc). I will admit that when we first started, we did rant against Realtors, basically, it was a "silly rookie mistake", and we realized that we are all here for one purpose - to help people buy or sell homes. So for our tiny mistake back about 8 years ago, we take full responsibility and we apologize.

   Now, we know that not all of your clients want to Rent to Own. Some of them would like to sell outright, and if they can, fantastic. However, should their listing sit dormant on the MLS and be in jeopardy of becoming an expired listing, this mean that the homeowner is not able to get out from under their payments, and a Rent to Own might be the solution to their problem. So, that is where we come in - and we reiterate - we are not your competition. Of course, we ask that you not contact any homeowners on our website and ask them to list with you as that would be a violation of the terms of our website (and of course, just plain unethical), but, if you are contacting them about buyers that you have, then by all means, make the connection with the homeowner, and identify yourself and your intentions.

   Occasionally, we receive E-mails from people asking if we send them listings, however, we have clearly defined in our terms and in our "About Us" section (http://www.lease2buy.com/rent-to-own-homes.php), namely, "We do not "send" you listings: All of the listings of Rent to Own homes, Rent to Own buyers, and home service providers are all listed on our website, and you can browse them for FREE !".

   So, to summarize, where the MLS is a listing of homes for sale, HomeRun Homes (Lease2Buy.com) is a listing of homes available for Rent to Own, homes wanted by Rent to Own, and Home Services available for homeowners and prospective homebuyers. This puts us in a unique position within our niche of the Real Estate Market, and not as a competitor with the MLS and Realtors.

   Hopefully, we have been able to answer your questions about who we are and why we can work together. Your focus is on transactions, listings, and deals, and our focus is on being a central meeting place for Rent to Own buyers and sellers, but we both share a common ground in providing customer service and helping people. Realtors definitely help people, and we would like to think we do, as well.

   Have a Great Week and Happy Rent-to-Owning !!!




June 7, 2010

Making Rent-to-Own Real Estate Deals Work...

Hi All,

This is an addendum to our earlier Blog Post, since we have just been provided with some fantastic media coverage in an article titled, "Making Rent-to-Own Real Estate Deals Work".

The excerpt that we are included in reads as follows:

"If you want to take a look at some of the deals on offer, go to Homerun Homes (www.Lease2Buy.com), an eight-year-old online marketplace for rent-to-own deals. Browsing its listings turns up some great offers, as well as some wildly unrealistic ones in which prospective buyers want below-market rents with no money down."


To read the full article, please visit the source at: http://www.familygoesstrong.com/making-rent-own-real-estate-deals-work and also, our Press page at http://www.lease2buy.com/press.php


Happy Rent-to-Owning !

May 12, 2010

Great Real Estate Deals, Home Staging, Rehabbing....

Hi All,

Happy Wednesday to everyone.

It's been an exciting week at the HomeRun Homes campus, and to all of you who have thanked us for bringing you such a deluge of quality responses to your Ads...you are quite welcome. Our goal is to bring traffic to our website so buyers or sellers can find you, and you can Find a Rent to Own Home or Sell a Rent to Own Home. Basically, we are just doing our job, since we work for you!

We wanted to re-emphasize a fantastic article, called: "7 Cities With Great Real Estate Deals", which runs down some of the hottest returning markets. If you read through the article, you'll see that there are a lot of unpolished gems out there. Further, you will see our name mentioned in the article for Atlanta, and also for Orlando, Florida (and Central Florida), since we believe that these are two of the hottest markets right now.

This leads me to the next item, which is that our 8-Year anniversary is around the corner. We originally got our start buying and rehabbing homes in Central Florida (Read our full background here: http://www.lease2buy.com/rent-to-own-homes.php). One of the first homes we renovated is this one:



We will tell you more about this in the coming weeks, as our June anniversary approaches, along with some fantastic offers...stay tuned for your exclusive opportunities to be announced here in our company Blog!

The last item that we wanted to discuss is Home-Staging, which has gained quite a bit of momentum in the recent market. For example, I have a neighbor who was stuck in his home for 8 months, he could not sell, and he was not in a position to Rent to Own the home. I had a Home-Staging company get in touch with him, and they came in and revamped his entire home. During his next Open House, he got a few offers, and he is actually in contract now. This is a handy service. Are you a Home Stager? If so, please tell us more about your work.


Have a Great Day, and Happy Rent-to-Owning !

April 16, 2010

"7 Cities With Great Real Estate Deals"

Hi All - One more Update....


We were interviewed for this article - we commented on a few markets:
Read it here: "7 Cities With Great Real Estate Deals"

Happy Rent-to-Owning !