JUST SOLD for a Record Breaking Price!

Thinking of Selling and taking advantage of this HOT market??

Give me a call!

Your property Evaluation is Free and Confidential!just-sold-1072-leonard

1072 Leonard Place, Los Angeles – 6UNITS

NO RENT CONTROL

CAP RATE 5%+

IMMEDIATE UPSIDE!

SOLD!

Advertisements

Trying to Sell a Home with Tenants Still Living Inside?? These 3 Tips Will Make Your Life Easier

Are you thinking about selling a home that you have rented out for some additional revenue? If so, you’re likely trying to discern how to best inform the current tenants and conduct the sales process in a way that works well for all of the parties involved. In today’s blog post we’ll explore how to sell your home while you’re renting it out to tenants and share three tips that can make the process a bit easier.

#1: Review Local Laws and Your Tenancy Agreement

First, you’ll want to break out your tenancy agreement and download any state, provincial or municipal laws that apply to landlord-tenant relations. Selling a home with renters living in it can result in a number of sticky situations. You’ll want to ensure that you conduct yourself in accordance with the rule of law as you may end up in court if the process goes sour. OR CALL ME and I will do that leg work for you!

#2: Communication is a Vital Part of the Process

Next, you’ll need to ensure that you’re communicating with your tenants every step of the way. Be polite but firm; you don’t want to encourage any hostility but this is your property and ultimately, your decision.

Don’t forget to fully inform your tenants as to how home showings will work, as they’ll likely be concerned as to who is being provided with keys to their home.

#3: Incentives Can Sway an Unruly Tenant

Finally, if you’re faced with some unruly tenants that are making the sales process challenging you may find that financial incentives to help the process go smoother. You’ll need their cooperation in keeping the home relatively clean and tidy, so you may want to consider offering some gift certificates or paying a portion of the rent in exchange for their help. If you’re hosting an open house over a weekend, offer to put their family up in a nice hotel somewhere in town where they can enjoy a weekend together.

While selling a home with tenants living inside is rarely easy or fun, it’s certainly doable. When you’re ready to learn more about the home selling process, GIVE ME A CALL, to leverage my expertise and guidance to ensure you get the most from your sale.

It’s All About The Benjamin’s…& Home Equity…

When delving into the world of real estate and investment property, there are many terms that will come up that require further explanation. Whether you’ve never heard the phrase ‘home equity’ before or you have a little familiarity, here are the ins and out of what it means and how this asset can help your financial outlook.

It’s All About The Benjamin’s…& Home Equity

Essentially, home equity refers to your portion of the value of your home, and the amount of this figure is important because it is included among your assets when determining your net worth. If this sounds confusing, think of it this way: if you have completely paid off the cost of your home, the value of your home equity is this total amount. Of course, because most people seek a lender to borrow money from when they purchase a home, their home equity would consist of their down payment and whatever amount they’ve paid down on the mortgage since purchase.

For Example…

To provide further clarification, let’s use the example of a house that has been purchased for $300,000. In the case that a down payment of 20% has been provided at the time of purchase, the equity in the home would be $60,000. Since this amount is the percentage and cost of the house that’s been paid down, this is the amount of the house that is actually owned and this will be figured among an individual’s assets.

How Home Equity Works

As you pay the amount that you owe on your home each month, you are paying off your total debt and thereby increasing your equity. Since this amount of money is considered an asset that belongs to you, it can be used down the road to buy another home or invest in other important things like education or retirement. While paying off the amount owed on a home is a considerable investment, if the value of your home increases, this means that you’ll still owe the same on it but your home equity will have automatically increased.

As an asset that is part of your financial net worth and can be used down the road to fund other investments, home equity is a very useful term to know when it comes to purchasing a home. If you’re on the market for a home and are considering your options, give me a call for more info…

Storybook Spanish Open House Sat & Sun 2-5pm!

OPEN HOUSE SAT & SUN 2-5PM
1350 Atchison Street | Pasadena | 91104

Beautifully Upgraded Historic Highland’s Spanish Revival!

Virtual Tour

 

Beds: Very Large 2 + DR/Office+Enclosed Patio

Baths: 2

1,587 sq. ft. on 0.116 AC

2 Car Garage

Year Built: 1926

Remodeled: 2014

Price: $798,000

  • Great Flowing Open Floor Plan!
  • 11 ft+ Ceilings w/ Exposed Beams
  • Newly Painted
  • Flooring: White Oak Hardwood & Imported Saltillo Terracotta Ceramic Tile
  • Ernest Bachelder fireplace. Antique sconces & crystal doorknobs
  • Updated Kitchen & Bathrooms
  • French.Windows.&.Doors
  • Ample Storage: Walk-in+Basement+Attic
  • Herb Garden+ Citrus Trees!
  • Mountain.Views!
Silvia Portugal-Singh
Broker Associate
CalBRE# 01970434
Broker@Silvia-Sells.com
(562) 577-9953 / (626) 685-1113
www.Silvia-Sells.com
Visit me on FacebookVisit me on TwitterVisit me on LinkedInVisit me on InstagramVisit me on Pinterest
Facebook Share Tweet Linkedin Share Forward
540 S. Lake Ave. Pasadena, CA 91101
© 2016 BHH Affiliates, LLC. Real Estate Brokerage Services are offered through the network member franchisees of BHH Affiliates, LLC. Most franchisees are independently owned and operated. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of HomeServices of America, Inc.® Information not verified or guaranteed. If your property is currently listed with a Broker, this is not intended as a solicitation. Equal Housing Opportunity.

JUST LISTED! Multifamily Investment Opportunity on 1 Acre!

Google Earth 15075 Polk

15075, 15077, 15079 & 15081 Polk St. & 15126, 15128, 15130 & 15132 Nurmi St., Sylmar

Rare & Amazing Opportunity to own 8 individual single family homes on a 1 acre lot! Excellent mix of 2 & 3 bedroom homes that have private yards, garages, laundry & are individually metered.

  • Possible Seller Financing
  • Aggressive Upside Opportunity!
  • 11,600 sq.ft per public record
  • Lot Size: 0.98 AC per assessor
  • Age: 1964
  • Tenants Pay ALL Utilities: trash, water, gas & electricity
  • Occupancy: 100%
  • Actual Scheduled Gross Annual Income $138,540
  • Annual Expenses $37,700 Estimated
  • NOI: $100,840 Estimated

Please drive-by only, do not disturb tenants

$2,549,000

50 Reasons Los Angeles Is the Best Effing City in America!

Seriously, we are sooooooo lucky to live in the Best City in America!!  Check out this blog post, some highlights include…

  • Tacos! Tacos on literally every corner…
  • The beaches. Yes. All of them. (L.A. is also the only city in America where you can start your day skiing and end it surfing.)
  • Weekend island hopping: Catalina Island and the Channel Islands , to name a few.
  • The Sunset Strip. (Rejoice, hair metal fans.)

sunset_strip_music_fest_2011.7132423.87

Keep Reading…

Los Angeles is in the top 13 of The 20 Hottest Markets in September 2015! Wooooooop!

HAPPENING_IN_LOS_ANGELES_JESSICA_FAULKNER_72715_2

The season has officially changed to fall, and it looks like would-be home buyers can benefit from a wide selection of homes that are becoming more affordable, according to an early read of the exclusive September data here at realtor.com®. Even better news: This year’s market looks substantially better than it did last year at this time. So if you’re looking to buy a home, now is the time to give me a call! 🙂