AuthorMy name is Charles Xavier and I'm a Real Estate EXPERT! Ask me questions for me to create a blog post about. Archives
February 2018
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There are many different places you could live in life: you could live in a house, in a condo, in an apartment, in a duplex, in a triplex, in a tent, in a tree house and the list goes on and on and on. You can do so many things, but you can only have two options when you live in these places. Option number one: rent one of these houses, duplexes, triplexes, apartments and so on for a certain monetary fee per month the owner or land lord of the property. Option number two: you can own a property and pay a mortgage and do whatever you want to the property you want to sell.
You can easily rent a property because the screening process is fairly simple with land lords and owners. You just have to prove you can pay them a flat fee per month based on your income you make a month. It's fairly easy to do. Earning enough and for the length of time it takes to get a mortgage for a home is not as easy, but it comes with many more benefits. When you own a home, you have the ability to do literally whatever you wanted with a home you own. You can do anything and I mean anything. Paint the walls, replace the carpet, update the kitchen, knock down a wall to open the floor plan and so many more things. Selling a house super fast for cash in Birmingham. So what should you do? Should you rent or buy a house? That's totally your call. Favor Home Solutions In my opinion, I would rather own a home, but owning a home is not for everyone. I don't think you should own a home until you're 25 because most likely by that point in life you have a steadier job with steadier income, earning hopefully over $40,000.
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Ah, yes. I can smell it now. The fresh wood, The fresh drywall, the brand-new carpet, the brand new hardwood floors in the living room, the smell of new cabinets in the kitchen, The scent of new everything. Walking into a new home you just purchased smells and feels great! But what about the repairs that will be needed in 10 years? How will you deal with those? Let's take a look at what repairs in a home look like and how much they cost.
After a while, that brand-new hardwood floor and the brand-new carpet will need to be replaced because wear and tear of a family will destroy carpet and hardwood floor like it's nothing. So what do you do when these things get really old? Well simply put, you replace it and you half to pay someone to come out and fix and put in new carpet and hardwood. However not everyone just has $3000 or $4000 laying around to be spent on new carpet. What do you do if you can't afford it? When should you sell your home? The simple answer is: a realtor is going to force you to repair everything in the house before you are allowed to put it on the market. This is going to cost you thousands even tens of thousands in just repairs, taking away from your profit. So if you want to keep all of that money that you would spend on repairs using a realtor, you should think of using an investor. A cash investor, like Favor Home Solutions, will pay cash for your house and they won't make you fix a thing. You can leave your house trashed or spotless, Favor Home Solutions will still buy it from you! If you don't have the money to repair your home, selling your home with favor home solutions might be the best way to go because you don't pay any fees.
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Foreclosure: How to get out of it5/11/2017 The absolute most perfect dream of any American citizen is to get a nice job that has a fantastic high paying salary and eventually own a home at some point in their lifetime. Most Americans reach this dream of owning their home however sometimes their job fluctuates all too much. Some home owners in the United States face a difficult difficult process called foreclosure. If you're facing foreclosure and need to sell my house fast, keep reading because this will help you get out of foreclosure!
So let's first begin with what is foreclosure? Simply put, foreclosure is when a homeowner cannot pay the mortgage on their house that they own. When the homeowner cannot pay the mortgage, the bank wants their money one way or another and they will do anything they can to get it. After a certain amount of months that you have missed your payments, the mortgage company or the bank that you have your mortgage through can take your house from you as collateral. In most situations the bank will give you 30 days to give them all of the money left that you owe on the loan. How can you do this you might ask? Well unfortunately most homeowners have to sell their home in order to pay off the mortgage. However the process to sell our house can take up to six months so the homeowner facing for closure needs to find a fast simple and easy solution to selling their home. They need to find someone who says we buy houses in Nashville, Tennessee. If you are facing for closure contact me here on my website or you can contact Favor Home Solutions because they are experts at freeing people from this trap! I can provide some advice of how to get out of this situation and so can Favor Home Solutions.
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Good Debt vs Bad Debt5/11/2017 Right out of high school for most Americans is brought on by no more high school, no more pesky teachers, no more rules, freedom, college and becoming an adult. And with becoming a legal adult above the age of 18 begins the lovely process of you being bombarded with letters and mailers by credit card companies and student loan companies. This is a great process for the creditors because they can sucker you in by getting your information and then sinking you into thousands of dollars into debt. Favor Home Solutions
But as an adult, you need an established credit score before you can buy a car or buy a house. So how do you balance having a credit score by not going into credit card debt? Here's your answer! If you're telling yourself, "I need to sell my house fast so I can buy another one," this is the place to be! So here's how you can do it! Good debt versus bad debt. What is it? Let's start with bad debt. Bad debt is debt that is avoidable and is not the best thing for you to venture into. An example would be credit card debt because you don't need to be in credit card debt, it's easily avoidable. An example of good debt is a house because you're not expected to be able to pay for a $150,000 house upfront in cash money. You take out a mortgage and that's considered good debt because you're investing into real estate. A car loan is kind of on the border because some people think that they are a good debt and a bad debt. Personally, don't get a car loan if it's avoidable by waiting a year or so. If you have questions about any of this, contact my blog! I also recommend Favor Home Solutions to help with all of this because they can sell your house fast for cash even if you have a bad or low credit score!
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Equity: What is it?5/11/2017 When you buy a house you typically have to put a down payment on the house because the bank won't lend you every single penny. However by you putting money down upfront on a new house for you and your family, you are beginning the process of gaining equity and starting your financial future for your family. So you might be asking yourself, what in the world is equity? Is this something I have or I get when I sell my house fast?
Well, here's your answer. Equity is the money that you invested have in your house and the potential returns on your family's home. You can have large or small amounts of equity. But with equity size matters, bigger is better. The more equity you have in your house the better chance you have of being able to say, "where can I sell my house fast for cash?" The more equity you have in your home the more stable your financial future for your family will be. You can add equity by doing upgrades in your home yourself, that is more commonly known as sweat equity. Another fantastic way to look and see how much equity in your home you can have is by looking at what houses are selling for in your area. Let's say for example, you paid $100,000 for your home. You begin to look at the market and see that you could sell your house for $150,000. Right there, you have $50,000 in equity. So in short, The way to figure out equity is taking how much you can sell your house for subtracted by the total amount or total number you have invested in your home. If you have any questions about figuring out how to calculate your homes equity, then I would recommend getting in touch with Favor Home Solutions because they are home equity experts. They can help you with all of your questions and they can even help you cash out and get the equity of your house in cash. |