3 Ways To Utilize Your Land

So the auction is over, the settlement is complete and you finally have that perfect piece of vacant land. Now the question is what should you do with it? Many people who buy land on Bid4Assets report having bought it for a fraction of market price.  Buying land at a discount at auction leaves you more capital to develop or otherwise improve the land for profit.

A new piece of vacant land is a blank canvas, often with many unique possibilities. Some investors want to resell their property (either on Bid4Assets or through an agent).  Others may plan to build their dream home or a rental property. Regardless of what your plan is, the most important thing is to have one. With that in mind, here are just a few ways you might put your land to good use.

DEVELOPMENT

The #1 reason people invest in land is for development. Whether you want to create a dream home for your family or develop something you can sell for maximum profit, don’t let your investment sit unutilized.  Your local chamber of commerce may be able to help you find local real estate developers and home builders.

PARKING

If you’ve bought vacant land located within walking distance of a major attraction, such as a sporting arena, a theatre, or a popular downtown area then you control a space where people frequently need parking. Check with the county planning office to see if parking (be it event parking or ongoing) is an acceptable usage for the property.  Land can be easier to rent than homes and commercial buildings as it requires the most basic amount of maintenance.

RENT

When possible, renting land is a great way to produce income while your property appreciates. Properties can be rented to campers, for parking, or for an assortment of commercial uses.  It’s important to check with the county to make sure any land usage confirms with the zonings and that you have any necessary permits.

No matter what you ultimately choose to do with your land, the most important thing is to do your due diligence and have a clear plan.  We love to hear from our auction buyers. If you have a great land success story, please email us at service@bid4assets.com and tell us about it!

This is intended as a means of communicating with our buyers and sellers. If you have a topic you would like to see us cover on this blog, or any questions about the site in general, please get in touch at service@bid4assets.com

Top 5 Reasons to Start Investing in Land

Take a good look at the image above. To some this may seem like a boring barren piece of vacant land. But to the observant investor, this is one of stable and overlooked, long-term real estate opportunities available today.

Bid4Assets hosts thousands of vacant land auctions every year and 2017 is shaping up to be no exception, offering many unique opportunities to investors nationwide. With that in mind, here are five reasons why you should consider adding land to your portfolio this year:

1) Vacant land is a low-energy investment.

Vacant land is not an investment that will require a great deal of your time or energy. You won't have to deal with the problems that typically come with owning other types of real estate. There are no  repairs to pay for, no tenants to pry rent from, and no renovations to oversee. With land, you will get all the value of owning a new property with none of the headache.

2) Land is cheap to buy and cheap to maintain.

In addition to saving you headaches, land investments can also be great financially. There are no mortgage payments or monthly bills required for you to maintain your property, and insurance is both minimal and entirely optional. What's more, land can be extremely cheap to buy as long as you invest intelligently (with a little help from Bid4Assets). More on that in later posts.

3) You can buy land in a matter of minutes.

With companies such as Radius frequently listing new vacant land auctions on Bid4Assets, finding your next great land deal can be as easy as buying a new iPhone on Ebay. You can browse from your favorite living room chair, review pictures and due diligence, and place your bid within minutes, all from the comfort of your own home.

4) Land is a solid and stable asset.

With land you will never run the risk of your  investment becoming worthless over night. No matter what the state of the market may be, your land will always be there. It doesn’t wear out, it won’t break and no one is going to walk off with it in the middle of the night. Land offers stability that few other investments can due in part because... 

5) “Buy land, they're not making it anymore.”

This famous Mark Twain quote may come across as a cliché, but land is a finite resource. We will never discover a new mass of land that no one knew existed before. What is in the market is in the market. As the population grows demand for land will continue to rise and neither trend is going away any time soon. 

So, if you’ve overlooked vacant land as an investment opportunity in the past, there’s no time like the present to start. Many great deals are already available on Bid4Assets and only a click away.

This article was provided in part by Radius, a third-party real estate company that is not affiliated with Bid4Assets. To see auctions they currently have available on Bid4Assets click here.

http://www.bid4assets.com/v5/search/#t=s|s=645650|sc=bidclosetime|so=ASC

Top Tips & Tricks for Renovating a House

Top Tips & Tricks for Renovating a House

Many auctioned homes are sold to individuals or small businesses who want to renovate a home, wishing to bring change and renewal to an otherwise struggling area of their city. These home are also sold well below their actual assessed value, and need a lot of work before they can become a suitable place for a family to live. As a real estate investor, you will spend a lot of time and money on each property, but you will be rewarded with a significant profit because you were able to buy the homes for such a low price on Bid4Assets.

If you are just beginning in the business of renovating homes, there is plenty you need to know. Small mistakes can cost you a lot of money, and wise decisions will increase the stability of your business. This will allow you to continue work you are passionate about, while contributing to the well-being of the neighborhoods in your city

Don’t get started until you have the cash

Remodeling houses requires a good amount of cash, and this is above and beyond what was spent to purchase the homes. In order to make improvements to each home, you must be able to afford supplies and labor out of pocket. If you don’t have the cash to pay for these expenses upfront, consider partnering with someone who is able to help you fund each project.

Create a well-researched budget

In order to make a profit on the homes you are buying and renovating, be sure you are investing less than the potential resale price. Carefully research the area where you have bought your homes, looking into the average selling price of similar properties. Use the information you have gathered to create a strict budget and make all of your remodeling decisions based on the limits your budget creates.

Build strong connections with professionals you can trust

Even if you plan to do a lot of the work on your own, you must have skilled professionals available to help you with projects that are beyond your skill set or to simply lend a hand when you have too much going on. Begin connecting with contractors, other real estate agents, and vendors who you can trust to give you the best price, and the best work.

Move quickly

The more quickly you move forward with a house remodeling project, the more profit you will make in the long term. This is especially true if you use financing to purchase your homes, since you will be making payments as long a you own the home. When you move quickly, you avoid investing excess money into the home and you make more money in the long run.

Brag about your hard work

When you are ready to sell a house, don’t keep quiet about the time, money, and work you have invested. Advertise every major improvement you have made, making sure potential buyers know about the new HVAC system, the new roof, or the aesthetic upgrade made to the house.

When it comes down to it, remodeling a home is an involved process and it requires a lot of education and research to get started. At Modernize, we encourage homeowners and real estate investors alike to consider the energy efficiency of each home improvement they are making as well. If you are willing to invest in efficient systems, you can use the improvements as a selling point and increase the profits you will make on each home.

This article was written by a third-party company who is not affiliated with Bid4Assets, Inc.  Bid4Assets has not evaluated or endorsed the content in this article. To get more great home tips from Modernize click the link below.

https://modernize.com/

Knowing When to DIY and When to Hire a Pro For Home Improvement Projects

Knowing When to DIY and When to Hire a Pro For Home Improvement Projects

By Katherine Oakes

There are many home improvement projects that any devoted and crafty homeowner can tackle on their own without the help of a professional. Small updates can certainly go a long way, but at Modernize, we also know that the lure of tackling a bigger and better DIY project can distract us from the inherent risks or dangers that come along with it. So before you go making those changes and get your serious DIY game face on, consider these few things first to ensure you are the right person for the job. In order to help you get started safely, we’ve outlined a few key things to consider so that you know whether or not to DIY.

When to DIY

You have the time: We know how hard of a weekend warrior you are, but there is only so much that can get done within those 48 hours. Go through all of the necessary steps beforehand so that you don’t find yourself stressed and strapped for time in the middle of your project. For instance, replacing all the cabinets in your kitchen probably won’t get done by Sunday night if you’ve only ever screwed in a lightbulb. So be realistic and set yourself up for success by laying out a timeline for your DIY project first.

You have the resources: For the times when a professional really comes in handy is when they are already sufficiently equipped with the appropriate tools and maybe even a team—no matter how small—to help them get the job done. Face it, wouldn’t it be a whole heckuva lot better not to have to run to the store when you realize you’re missing a set of drill bits that might never be used again? The answer is yes—it would.

You have the knowledge and skills: No matter how expertly you’ve installed curtain rods or even put up that stunning beadboard in the bathroom, it’s important to know whether or not you have the right kind of knowledge and skills to do a more complicated home improvement job. Weigh out the pros and cons of the project before getting started and be honest with yourself about whether or not this a challenge you can handle or if you should reach for the phone instead.

When to Call a Pro

If it risks your safety or could be a health hazard: A tell tale sign that you are in waaay over your head is if your DIY risks your safety and well-being. Anything that involves major electrical lines or plumbing work, or potentially coming into contact with chemicals, substances, and materials like insulation or mold and asbestos should be avoided unless you know how to handle it. If you know how to do some basic electrical work but don’t have any clue about pipes and other plumbing issues, then steer clear and call for help. Knowing your limits could save your life or at least a few bucks in damage.

If your town has codes in place to protect you: If you are making changes to your home, like knocking down a wall or beam to open a room up, then you might find out you need a permit to do the work first. This is the most obvious sign that you need to hire a professional and that the work you’re doing is way too dangerous to do solo. It is often the case that certain elements are there for structural purposes or even hosts to a hotbed of electrical wires and major plumbing wires and the need for a permit is in place to protect you and your home. In this situation, call a contractor or handyman for help.

If the worst-case scenario is too severe: As well-intentioned as you are, there are certain scenarios in which the worst possible outcome involves unrepairable damage to either you or your home, or both, that are simply not worth doing. A kitchen or bathroom remodel, installing siding, roofing, or even windows are projects worth calling a professional to do so that you don’t have to spend more time and money fixing the newer and even worse issue down the road. 

What are some of your remodeling or home improvement stories? What kind of projects are you working on now? Let us know down below!

This article was written by a third-party company who is not affiliated with Bid4Assets, Inc.  Bid4Assets has not evaluated or endorsed the content in this article. To get more great home tips from Modernize click the link below.

https://modernize.com/

The New Year

We want to thank all of the government agencies, banks, asset managers, and real estate investors who helped to make 2015 another great year to buy distressed real estate on Bid4Assets. We have some exciting new clients coming in 2016, so please stay tuned. Best wishes for a happy, healthy, and very prosperous new year!

5 Reasons Why You Should Participate in an Online Tax Sale Auction

This March, over 2,000 tax defaulted properties in eleven California counties are slated for online auction, which makes now the perfect time to start investing in tax sale property.

Interested in investing in tax foreclosures and seized property, but unsure of how to get started? The easiest way to start is through an online tax sale auction. Bid4Assets.com hosts online tax sales for over 50 counties throughout the United States.

Registration on Bid4Assets is free & easy and the only bidding requirement is a fully-refundable deposit, generally due a few days before the auction begins, and is either applied to your winning balance or promptly refunded by check.

Participate from the comfort of your home or office

• Skip the drive to the crowded county courthouse or convention center. All you need to participate in an online tax sale is a computer or tablet and an internet connection.

More time to research the properties that you're interested in

• Rather than placing blind bids on property at a live auction, the auction information for tax sales is generally available on the Bid4Assets website several weeks before the auctions start, allowing time to thoroughly research and make informed decisions about the homes and land being offered
• Stay informed with tax sale email alerts, which notify Bid4Assets subscribers when an upcoming tax sale has been posted

Save thousands of dollars when you buy at online tax sale auction

• In general, the minimum bid price on a property auction is set at the amount of delinquent taxes, fees and other expenses owed to the county by the previous owner
• Therefore, property valued at thousands of dollars can be won at online tax sale for literally a fraction of the assessed value, or "pennies on the dollar"
• In most cases, any existing back taxes or mortgages are wiped out when the property is transferred to the winning bidder

The online auction experience is fun and exciting!

• Online auctions allow you to challenge yourself and exercise your competitive edge
• Unlike other auction sites, Bid4Assets county tax sales have no reserve price that must be met. Popular and high value tax sale auctions often extend into periods of overtime bidding, which is extra competitive and exciting
• Don't bid over your budget! buyers should be prepared to set a bid limit and be careful to not get carried away by the excitement of the online bidding process

Use the online auction model to maximize your return on investment (ROI)

• Want to flip your tax sale property for profit? Use the Bid4Assets online auction platform to sell your newly acquired investment
• Design your auction, set your minimum bid/reserve price and watch the bids roll in
• Nearly 100,000 properties have been sold on Bid4Assets via the online real estate auction model

3 Risks Involved with Purchasing a Rental Property

Becoming a landlord is looking more and more attractive with rental property functioning as a long-term, stable source of income. Nearly 4 million families have become renters in the past year, with rent prices rising rapidly.

However, there are several obstacles that explain why not everyone rushes to fix up and rent out properties in distressed markets. Here are some important risks to consider before starting a portfolio of rental property:

1. Rental property requires initial investment and doesn’t guarantee a quick return

• In addition to a down payment, monthly payment, mortgage interest and other purchase fees, considerable time and energy may be required to get your investment off the ground
• Consider the total purchase price, maintenance costs, management fees, HOA fees, property taxes, as well as the monthly rental cash-flow, and always Calculate the ROI (Return on Investment) before signing any checks
• Your rental property could quickly turn into a negative cash-flow “money pit” if payments and expenses exceed the monthly rent

2. Maintenance may be required before the property is considered “rent ready”

• Depending on the property age and location, your new single or multifamily home may not be in turnkey condition at the time of purchase
• In distressed markets, such as Detroit, Cleveland & Chicago, where the unemployment rates are high and the incomes are lower, vacant properties may be stripped of appliances, copper pipes and plumbing.
• Unless a property is completely turnkey at the time of purchase, necessary maintenance may range from light cleaning and dusting to heavy rehab
• Even after you have secured tenants, regular maintenance must also be factored into the monthly overhead costs

3. Employing a reliable property management company is essential to ROI

• Will you have time for advertising and showing the property, screening tenants, collecting monthly rent payments, making simple repairs and, in general, keeping an eye on your investment?
• Especially if you are purchasing a rental home out-of-state, employing a reliable property manager will give you peace of mind and reduce stress
• Property managers offer a wide array of services and typically only charge 10-15% of the monthly rent