Small Town Real Estate Investing - Archives April, 2008

Home : Blogs : Greg Taylor - Investor/Attorney Serving Western KY and Calloway County : Small Town Real Estate Investing : Archives April, 2008

Craigslist comes to Western Kentucky - 04/30/08 02:04 PM

If you're looking for a place to post your listings or to sell anything, really, we now have Craigslist in Western Kentucky
http://westky.craigslist.org/
It is pretty cool that we have this site. It is something that investors in bigger cities have used for years and now we can post our listings and information … (0 comments)

Buying a house "as-is" while retaining the right to inspect - 04/29/08 08:40 AM

Recently, we've had an issue that I'm sure many of you have encountered. We had an accepted contract and the terms were that the Seller was selling the house "as-is" and not making any repairs, BUT the Buyer retained the right to inspect the property. Per the contract, if a serious … (9 comments)

Pricing the house - Quick Sale v. Maximum Price? - 04/28/08 08:02 PM

I recently have become very interested in how to set my price for maximum profit. The last 2 houses I have sold have went something like this:I put the property into the MLS on a Friday. By Monday I get either a full-price offer or sell it within $2,000 of listing … (9 comments)

5 things to do to keep your real estate investing business running smoothly - 04/23/08 08:43 AM

1. TREAT THIS LIKE A BUSINESS - Because it is a business. Startingout, you won’t have 50 people a day calling you on your first little newspaper ad. You’ll need to be farming your area and marketing your business and as yourbusiness grows, you will have more people calling. You need … (4 comments)

Getting Started in Real Estate Investing - 04/23/08 08:39 AM

Below is an excerpt from a speech I gave recently about getting started in Real Estate investing. I hope it proves beneficial to you.
GETTING STARTED IN REAL ESTATE INVESTING
What is the best way to get started in RE investment? In my opinion, the first step is 1. Get Education - … (0 comments)

11 Items to Help Your Home Sell Faster - 04/22/08 09:39 AM

Contact Melanie Koehler or Bonnie Byerly at 270-761-7355 or www.1cornerstonerealty.com for more information about how to help your home sell faster.Before spending time or money, you should always check with Melanie Koehler, your exclusive agent at Cornerstone Realty and Rental, LLC.You should always keep your landscaping and yard in tip-top shape. … (0 comments)

Scheduled monthly agendas for the Western Kentucky REIA - 04/22/08 09:36 AM

Below are the topics which we'll be discussing each month during our Western Kentucky REIA meetings at Murray State.
WesternKentucky Real Estate Investment Association
PO Box 108 Murray, Kentucky 42071 Telephone Toll Free: 866.410.1475 Email: WKREIA@yahoo.com
Meetings Held 3RD Thursday of Each Month, Murray State University,
Curris Center, Barkley Lecture Room, 3rd Floor
… (0 comments)

Affiliate Membership in the Western Kentucky REIA - 04/22/08 09:32 AM

Anybody that provides goods or services ancillary to real estate investors should seriously consider becoming an Affiliate Member of the Western Kentucky REIA. We will put your name and logo in all communications with REIA members and make sure they know who you are. In addition, you are welcome to come … (0 comments)

Mission Statement of the WKREIA - 04/22/08 09:28 AM

WesternKentucky Real Estate Investment Association
PO Box 108 Murray, Kentucky 42071 Telephone: 270.205.4187 Email: wkreia@yahoo.com Web: www.wkreia.com
Meetings Held 3RD Thursday of Each Month, Murray State University,
Curris Center, Barkley Lecture Room, 3rd Floor: 7:00pm
WKREIA: [Chapter of National Real Estate Investment Association]
Professional Home Providers
MISSION STATEMENT Provide … (0 comments)

How to apply for membership in the Western Kentucky REIA - 04/22/08 09:26 AM

Benefits of the Western Kentucky Real Estate Investment Association - 04/22/08 09:23 AM

Whether you are just starting out in Real Estate Investing, or are working on your hundredth deal, Western Kentucky REIA (WKREIA) can help you learn more, make more, and have more fun doing it! What is Western Kentucky REIA?It is a group of Real Estate Investors from throughout the Western … (0 comments)

EARTHQUAKE!!!!! - 04/18/08 03:02 PM

For those of us in the midwestern part of the US, we experienced an earthquake that measured (here at least) a 5.4 on the Richter scale. It's caused quite a stir in our little town and it leads make this point........
If you own real estate, you should buy earthquake insurance whenever … (3 comments)

Buying a house versus renting - Ethical obligations for sellers and Realtors - 04/18/08 10:14 AM

USA Today had an article today about 10 myths about investing and finance and this one struck a nerve with me.Myth: Buying a house is always better than renting. Reality: Many investors jumped on this bandwagon during the housing boom, feeling they'd been tossing money away and forgoing a tax break by … (7 comments)

Can being a Christian-run company violate Fair Housing laws? - 04/17/08 11:07 AM

As the owner of our small, independent realty company, I face the pressure to comply with the myriad state, federal and local laws on a daily basis. We all have the same responsibility to follow the law and treat our clients with integrity and compassion.
However, when we began our company, I … (10 comments)

How does a rent to own program work? - 04/16/08 08:52 AM

I've had a lot of questions about renting to own so I thought I'd post a little bit about how a model rent to own program works.
Rent to Own Basics Rent to Own is simply where you buy the property from the property owner under a private contract and the … (9 comments)

Short Sales - The Top 10 Documents You Need for Approval - 04/15/08 10:04 AM

Most people are in the dark about the short sale process and what documentation is needed to get one done. In this blog entry, I'm going to tell everyone about the main documents that almost every bank will need to get a short sale approved.
The ABSOLUTE FIRST document that you … (6 comments)

Monthly Western Kentucky REIA Meeting on Thursday - 04/15/08 09:26 AM

Hello everyone - I wanted to keep you all informed about our upcoming WKREIA meeting this Thursday evening. Here's the agenda. Please think about coming to our meeting and getting involved. We would like to have all the investors, realtors, insurance agents, mortgage originators, and contractors in the area become members … (0 comments)

2 BR, 1 BA Rent or Rent to Own - Tri-City, Kentucky - $2,500 down, $350/month - 04/14/08 04:49 PM

This is a beautiful 2 BR, 1 BA home in Tri-City. It has Central Heating and Air and is Move-In Ready! Like-new flooring, large laundry room, all appliances included (including Washer and Dryer). This property has a 1-car detached garage that is in great shape. All-around a great deal for somebody. … (0 comments)

RENT TO OWN! 3 BR, 1.5 BA IN CALLOWAY COUNTY! - 04/14/08 04:42 PM

3 BR, 1.5 BA Mobile Home More Rentals...
… (0 comments)

Increasing Market Share/Setting an Advertising Budget - 04/14/08 04:31 PM

This post will address an issue near and dear to all of our hearts - optimizing our marketing to DOMINATE our market. I'm finding that as the owner of a 2-person independent realty firm (in addition to my "job" as an attorney and real estate investor), it has been hard for … (5 comments)

The National Real Estate Investors Association - Benefits you can't ignore. - 04/14/08 04:10 PM

I thought I'd take a minute in this blog entry to talk a little bit about the National Real Estate Investors Association. It is the parent organization to our Western Kentucky Real Estate Investment Association and there are a ton of benefits to joining the National REIA if you are an … (1 comments)

What would Jesus do? - 04/10/08 02:44 PM

Wanted to talk about a tough situation that we've encountered. Recently, we rented a home (with an option to buy) to a couple who mentioned they attended a certain local church. We happened to know the pastor at that church very well and we developed an instant rapport with … (17 comments)

2 BR, 1 BA for Rent To Own in Calloway County - $50,000.00 - 04/08/08 01:07 PM

11929 State Route 94 East2 Bedroom, 1 Bath home - 1 acre lot, near Kentucky LakeFenced-in yard is great for pets. Recent updates to home include new vinyl floors and plumbing upgrades.This home is for rent for $450 per month or for rent to own at $3,500 down/$450 per month. Please call … (0 comments)

413 South 10th St., Murray, KY - Completely Remodeled! - 04/08/08 09:36 AM

Home FeaturesCarpeted FloorsDishwasherWasher/Dryer … (0 comments)

Now you have no excuse NOT to back up your files - 04/08/08 08:46 AM

I'm sure we all have backup systems in place, maybe an external hard drive or even just a 4 GB flash drive. My main problem has been that it takes so looooong for my valuable files to get moved from the computer to the external hard drive. Then I found Teracopy … (5 comments)

3 BR, 1.5 BA home in Benton, KY - 04/07/08 05:02 PM

Click on the thumbnails below to see larger pictures of the property. THIS HOME IS PRICED TO MOVE AND WILL NOT BE OFFERED AT THIS PRICE FOR MUCH LONGER. We have installed new carpet and vinyl, paint, and after we improve the kitchen area, we will be selling this for … (0 comments)

Contact management software - Time-killer or Time-saver? - 04/07/08 04:25 PM

Contact management/prospect management software can drive you crazy or keep you sane. In this edition of the Small Town Blog, I'll take a look at Time and Chaos, the contact management software that I use, and also talk a little bit about the RealProspect prospect management software. The Time and Chaos program … (3 comments)

Insurance Question - Liability Policy for my Realty Company - 04/03/08 05:11 PM

Hello all - This may be a silly question for some, but I am new to owning a Realty company. We are real estate investors who own property in several entities and each entity has its own General Liability policy to cover the properties owned by that entity. We started our … (1 comments)

3 BR, 2.5 BA Home in Calloway County - 04/03/08 04:42 PM

3 BR, 2.5 BA Home More Properties... … (0 comments)

Has anybody used the RealProspect prospect management system? - 04/03/08 04:36 PM

Hey guys, I came across the RealProspect software and wondered if anyone had used it or had comments on it. It seems pretty expensive for contact management but it could be pretty valuable. I am basically looking for something better than Time & Chaos and this looked better. Does anybody else … (0 comments)

The Mortgage Forgiveness Debt Relief Act - George W. Bush's Lasting Legacy - 04/02/08 03:32 PM

While many don't view George W. Bush's time in office as a success, W has done at least one thing that will have lasting impact for homeowners across the country. The Mortgage Forgiveness Debt Relief Act, signed into law in December, will give much-needed tax relief to homeowners forced to sell … (7 comments)

Interesting statistics concerning the real estate market in Calloway County - 04/01/08 09:35 AM

These Statistics are from the Regional Multiple Listings systems (MLS) for the Murray Calloway County Board of REALTORS. They only apply to residential listings.
Average days on the market - 178Average Listing Price - $186,568Average Sale Price - $121,393Current Active Listings - 229You can see from the statistics that we're not in … (0 comments)

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