George simmons - EXP Realty

22/03/2022

17/03/2022

Happy St Patrick’s Day

17/03/2022

🏠 Without a doubt, flipping houses is expensive, but it is possible to flip houses using very little, if any, of your own money

💰 Here are five ways to do that.

1. Portfolio Lenders
You can get a portfolio lender to foot the bill for the entire flip – including repairs. While this is rare, it does make it possible to flip a house with no money.

2. Line Of Credit
It’s often impossible to get a line of credit on an investment property, so refinancing may be a better option to get money out of an investment property you already own.

3. Hard Money Lenders
Hard money lenders are companies who borrow cash from investors at a low rate and then borrow it to other investors at a higher rate. The higher the percentage they loan out, the higher the fees and interest will be.

4. Private Money
Private money usually comes from people you know like family, friends, other investors, etc. When borrowing from a private lender, the amount you can borrow, and the terms of repayment vary greatly.

5. Partnership
By far, this is the easiest way to flip houses using none of your own money. In a traditional house-flipping partnership, one person does all the work while the other person provides all the money.

George Simmons | eXp Realty
[email protected] | (803) 429-3337
www.buyorselllakemurrayhomes.com | 113866

George Simmons

16/03/2022

👉 4 Things To Avoid When Buying A Second Home

1. Avoid Limitations. Know Your Financing Options.
There are even options for buying a second home with little to no money down. It pays to do your homework and shop around for the best deal.

2. Avoid Being Unprepared. Plan For Expenses Upfront.
While building equity in the second home is a good thing, if paying for the property leaves you broke each month, you might be better off waiting until your first mortgage is paid off.

3. Don’t Miss The Moneymaking Aspect Of Owning A Second Home.
Rather than let it sit empty, why not rent it out when you’re not there to help pay the mortgage payment and property taxes throughout the year?

4. Don’t Pass Up The Chance To Have Your True Dream Vacation Home.
Avoid missing your chance at the vacation home of your dreams by considering a fixer-upper. The beauty behind a fixer-upper is that you can make it your own with renovations and upgrades to suit your own tastes.

George Simmons | eXp Realty
[email protected] | (803) 429-3337
www.buyorselllakemurrayhomes.com | 113866

George Simmons

15/03/2022

🏡 Historic homes are full of charm and character, but they can also come with some flaws.

1. You could be restricted if you buy a historic home

2. Recreating old styles can be challenging and expensive

3. Repair and maintenance needs could be extensive

George Simmons | eXp Realty
[email protected] | (803) 429-3337
www.buyorselllakemurrayhomes.com | 113866

George Simmons

14/03/2022

🤔 Is buying a For Sale By Owner (FSBO) home different than buying a home listed with a real estate agent? Is the process easier or harder? Here’s what you can expect when looking to buy an FSBO home.

3 THINGS YOU CAN EXPECT WHEN YOU BUY A FOR SALE BY OWNER HOME

1. THE SELLER WILL WORK WITH YOUR AGENT
A majority of sellers know you’ve worked with your agent closely for weeks (months?) before coming across their FSBO home and will gladly compensate your agent as any other seller would do.

2. BE PREPARED TO MEET THE OWNERS FACE-TO-FACE
The biggest difference between an FSBO home and one listed by an agent is that you’ll get to meet the owners face-to-face rather than meet with an agent when looking at the home.

3. FSBO SELLERS MUST STILL ABIDE BY THE LAW
As with any other home sale, there are laws the FSBO sellers must abide by. If the law says a seller has to inspect the home, make repairs, or disclose any problems, then the FSBO seller must oblige.

George Simmons | eXp Realty
[email protected] | (803) 429-3337
www.buyorselllakemurrayhomes.com | 113866

George Simmons

13/03/2022

💸 6 Money-saving Tips For Buying Your First Home

📝 To help you avoid spending more than you need to, we’ve put together a few tips to keep in mind as you go through the home-buying process. Here’s how to, buy your first home like an economist.

1. Go Into Your Home Search Knowing What You Want And Don’t Want
For instance, how far is too far of a commute to work? How many bedrooms do you want? Does the home need a big backyard?

2. Think About Resale Value
For example, if the home has been on the market for a long time, it’s possible the asking price is too high.

3. Educate Yourself On The Local Data
Compare the asking price to this data to make sure it’s in line with the other local properties so you can make a fair offer and hopefully avoid a bidding war.

4. Be Smart With Your Offer Terms
Be smart about the terms of your offer when possible to protect your own interests.

5. Ask For Concessions
It’s possible the seller will opt to make the repairs himself, but if not, will likely give you the money if he’s serious about selling the property.

6. Don’t Be Afraid To Negotiate
Stand up for yourself and negotiate for what you think is fair.

George Simmons | eXp Realty
[email protected] | (803) 429-3337
www.buyorselllakemurrayhomes.com | 113866

George Simmons

12/03/2022

💳 Credit reports are notoriously exhaustive and confusing. Below, we discuss four things you should know about credit reports.

1. Credit scores
Since the culmination of any credit report is its credit score.

2. Credit overview
Even if the credit score is decent, it’s important to delve deeper into the report to gain a full understanding of the person’s financial status.

3. Amount of credit used
In this section of the credit report, you’ll learn just how much credit the person has used.

4. Payment history
The payment history section, however, tells a very detailed story – both current and past.

George Simmons | eXp Realty
[email protected] | (803) 429-3337
www.buyorselllakemurrayhomes.com | 113866

George Simmons

11/03/2022

🤔 Buying a home with a mortgage can be somewhat overwhelming, especially if you are a first-time homebuyer.

😊 The five tips below are designed to help you better understand the mortgage process to obtain a loan that’s right for you.

-Have Money In Savings
One of the first things (besides your credit score) a lender looks at is whether you have enough money in savings to pay your mortgage in an emergency. “Reserve” savings refer to money left over after you make a down payment and pay closing costs.

-Only Borrow What You Can Afford
Rather than struggle with a mortgage payment that’s too high, it’s best to buy a house you can easily afford at the time. You can always sell that house and buy something else later when and if your income allows.

-Find Out If You Qualify For A Low-to-no Down Payment Mortgage
There are several mortgage options available that require little to no down payment if you qualify.
-VA Loans
-Rural Development
-Primary Residence
-FHA Loans

-Don’t Stress Over Imperfect Credit
While your credit score is one of the most important factors a lender looks at when considering you for a mortgage, having imperfect credit isn’t a guarantee of denial.

-Consider A No-closing Cost Mortgage
A traditional mortgage comes with thousands of dollars in closing costs. When you pay these costs out of your own pocket, you get the lowest interest rate you qualify for. You can opt to have the seller pay some or all of the closing costs and pay a higher interest rate.

George Simmons | eXp Realty
[email protected] | (803) 429-3337
www.buyorselllakemurrayhomes.com | 113866

George Simmons

10/03/2022

🏠 Buying a house is an exciting and thrilling adventure. It’s also one full of responsibility and surprises.

📋 When buying a home, there are certain features you should look for in order to avoid getting stuck with costly repairs. The four features you should look for when buying a new house below are designed to help you find the house of your dreams.

1. A proper roof. The roof is one of the most important features (if not the most important) of any home.

2. An updated furnace and insulation. The furnace may still be in working order, but it will most likely be inefficient and costly on your utility bills.

3. A nice neighborhood. You can change almost everything within your house and on your property, but you can’t change its location.

4. Working plumbing. When looking at a house, be sure to check under the kitchen and bathroom sinks for signs of leaks and/or water damage.

George Simmons | eXp Realty
[email protected] | (803) 429-3337
www.buyorselllakemurrayhomes.com | 113866

George Simmons