investment property: Buying a Columbus, GA Bank Owned Home? - 01/09/13 08:55 AM
In our Columbus, GA/Phenix City, AL area market “Bank-Owned Homes” are usually described as “Foreclosures”. Even though the terms are used interchangeably here and in other places, there is a difference. The difference between a “Foreclosure” and a “Bank-Owned Home” may be technical, but important to understand.  Foreclosures are properties that are auctioned off in a court process. A bank-owned home, on the other hand, is one that has reverted to the mortgage issuer: a bank.
A foreclosure can change hands with the bang of the auctioneer’s gavel: it’s a cash-in-hand situation, carrying all of the excitement (and risk) of any … (0 comments)

investment property: REO Investment: Cash Cow or Cash Drain? - 07/18/12 12:59 PM
Novice and professional investors find themselves in competition over Columbus, GA REO and foreclosure opportunities. The goal of building a long-term, profitable investment is the same for both groups, but the professionals have an institutional advantage. They have systems in place and experienced personnel who bring a high degree of confidence to their estimates of the financial tradeoffs for any candidate property. Novices have to rely on their own calculations.
For readers unsure of that  'REO' expression, it's an acronym that is short for 'real estate owned.' Not very illuminating, is it? What most people mean when they describe a local REO is … (3 comments)

investment property: Hardwood vs Carpet - An Investment Decision - 05/15/12 12:30 AM
Both hardwood and carpeted flooring can look great in any Columbus, GA property. However, when that property is purchased by an investor whose intention is to make it a lucrative long-term rental, hardwood floors can have a real advantage over carpeting -- for both durability and enhanced aesthetic appeal.
Yes, the initial investment is definitely more expensive. But hardwood floors are extremely durable: they withstand years of the toughest use (by even the roughest of boots!). By comparison, carpets tend to rip and stain easily. With replacement costs not as cheap as one would like, that means their actual property management … (2 comments)