If you have watched episodes of the famous TV reality show “Flip This House”, you should be familiar with its maverick host Armando Montelongo.  Dubbed the “flipping machine”, he is your classic example of a self-made man who has gone from rags to riches and inspired many.  Through hard work, shrewd business acumen and a positive approach to life, Armando Montelongo has hit it big in the real estate arena.  In just over five years, he has turned his small family business into a major real estate firm, Montelongo House Buyers, which on average flips 25 houses every month.

Armando Montelongo’s story is definitely one for the movies.  In 2001, unemployed and heavy with debt but not discouraged, he decided to go back to his hometown of San Antonio, Texas.  Back then, he and his wife Veronica and their baby boy were staying in his in-law’s garage in Southern California.  They had no choice because their house was foreclosed.  He didn’t work to take care of his wife and their baby who were then suffering from major health problems.  Savings were completely depleted to pay off huge medical bills.  Faced with such a dilemma, Armando Montelongo did not lose hope. Instead, he decided to start life anew with his small family in his native San Antonio.

With just $1000 in his pocket courtesy of his in-laws, Armando and his family set out to San Antonio.  Lucky enough, he was able to negotiate for two months free rent. They literally struggled to make both ends meet even to the point of selling their furniture to buy food.  During those times, he observed that there is money in the real estate business.  He discovered that buying a rundown house, renovating it a little and then selling it at a higher price makes savvy business sense.  This has come to be known as house flipping. And the rest is history.

With the overnight success of his flipping business comes the offer to host his own TV show about flipping - Flip This House.  Together with his wife, his brother David and sister-in-law Melina, they feature various projects that are flipped, their transformations, the many challenges that are involved and other important aspects of flipping houses.

The show has become a very good training ground for those interested in flipping.  It has attracted millions of televiewers making the reality show a top-rater.  In the process, flipping has catapulted San Antonio, Texas as one of the fastest growing real estate markets in the United States and Armando Montelongo a famous celebrity.  He has been featured in radio talk shows and in national publications.
To reach online viewers, Armando Montelongo created and hosts a website where he teaches and shares the many strategies and techniques of house flipping.  He has even developed educational CDs as part of his desire to share his vast knowledge to those interested in flipping.  His book “Flip and Grow Rich” further proves there is money in flipping.

As he always tells people, back then he had no mentor to guide him through the ins and outs of the real estate business.  But the beauty of it is he discovered flipping and learn to make a fortune out of it. 

Today, Armando Montelongo’s real estate firm flips about 200 houses a year - a far cry from when he moved back to San Antonio in August of 2001 with $50,000 in debt.

 



Rent Back Fast

The first thing you should ask yourself when you decide to sell your house is “Should I renovate?” If your house is in dire need of repair work, then making some essential renovation work will typically translate to a good yield on your investment.

Doing some necessary renovation work on your condo unit or town house prior to listing it for sale is wise and highly advisable. It can be the best technique to get your home looking its best. Renovations and repair can ultimately help you sell your home faster and at a better price. However, before you begin any renovation work or repair job there are a small number of things that you should consider first.

Things such as:

Return on investment - Will the outcome of a particular renovation or repair work substantiate the time, cash and sweat that went into it? Before you start thinking about taking out the hammer and paint brushes you should pause for an instant and mull over this subject cautiously. A lot of renovation work does not justify itself. They more often than not fall short in enhancing either the pace with which your house sells or the selling price of your home.

Work quality - Do the repair work results appear professional? Giving your house a fresh coat of paint is a surefire way to make it more marketable, but only if the end result looks really swell. Purchasers will not be willing pay more for a badly done paint job. Lines should be straight and finishes must be constant. Likewise, an uneven or inadequately laid tilework will end up costing you time and money. If your knowledge and skills are adequate for you to do these kinds of tasks on your own, then you can definitely do so. If you are unsure of the quality of your work, it might be better to invest a small amount to get a professional.

What Not to Renovate - Do not start a big scale renovation without careful scrutiny. If your home is pretty well-kept, then it is doubtful to get your investment back by making things nicer. Renovation typically is a money loser. If it’s not necessary, don’t bother.

Be unvarying in your renovation work efforts. Keep in mind the lifestyle of the target demographic that is most likely to obtain your unit. A renovation attempt where the seller has obviously tried a little too hard to save money will undoubtedly be noticed. This will not have a helpful consequence and will just be a waste of time, money and effort.

What to Fix

Incomplete tasks - Partial repairs or renovation work that has been started but hasn’t been finished yet certainly has to be attended to. The typical buyer is commonly not a visionary or an innovator. They won’t appreciate the worth of a three-fourths finished project. They will simply witness a big mess. It is always a smart decision to complete repair jobs and renovation works before putting your house up for sale.

Dim, passé or discolored painted interiors - Paint is possibly the best way your can spend your money on to improve your home’s appeal. Bear in mind though that the end result should look bright and professionally done. Light or neutral paint colors are generally a safer choice. Several researches indicate that darkly painted homes may take up to two times longer to sell as compared to homes that are painted in lighter hues. Light colors can also help make a room seem larger than it really is.

Water damage marks - These should be fixed right away. Water damage is on top of the list of things that potential buyers are avoiding. If there are any water marks from a small water problem before, make sure to take the time to paint and refinish to take away any and all signs of water damage.

Kitchens and Bathrooms - Aside from painting, there is probably nothing else that can give you a better return on your investment than making sure that your kitchen and bathrooms are in excellent condition. You must make it appoint that all bathroom fixtures and plumbing are functioning properly. The kitchen should be spotless and void of any unpleasant smells. If either of these rooms is looking worn or dated, it may be wise to attend to them immediately.

Cupboards and Closets - Your cupboards and closets should open smoothly. Doorknobs and hinges should be tightened and lubricated if necessary. Loose or clattering knobs and hinges give the impression that you are not very particular about maintenance. Fix or replace such items right away.

Faucets and light switches should be shiny and clean. If simple cleaning doesn’t do the job then replacing them is the best inexpensive option.

If your cabinetry is looking shabby or behind the times and you don’t have enough money to replace them, the next best option is to refinish or repaint the doors. You can also swap the old and dated cupboard handles for more contemporary ones.

On the other side it is not advisable to overspend. Do not spend enormous amounts of money in a room or area. One room should not stand out too much while other rooms are noticeably simpler. Keep in mind that you are supposed to create a consistent feel all through the house.



Sell and Rent Back

We all have our dream homes. However, most of us do not have enough to purchase our dream house. If only we could find a great house like those at Gilbert Homes with a lower price, it would be great.

We often associate beautiful houses with big bucks. That is why we often settle for smaller simple houses. There is nothing wrong with living in a simple home. All that matters is that it is safe and comfortable.

Although we could settle for the smaller house, we want to experience living in a beautiful abode.

It is indeed difficult to find an affordable house. It also seems that now is not a good time to invest on anything. However, what would you do if you can purchase a beautiful house at a price lower than its market value?

It is not impossible to find a beautiful house at an affordable price nowadays. One of the best ways to purchase a house at a cheaper price is to buy foreclosures. Foreclosed homes are those houses that the lenders took hold of, because the homeowner was not able to settle their debt.

They are most of the time valued less than their true market value.

The value of a foreclosed property is lower because lenders often times want to recover the amount unsettled by the homeowners. Foreclosed house are usually valued at 5 to 10 percent lower than its market value. However, it can go to as much as 20 to 50 percent, depending on the lender and the property.

The best way to find foreclosed houses is to ask lending companies. There are also government agencies that have a list of foreclosed houses. You can specify the location and check if the house appeals to you. You can also attend auctions for foreclosed houses. This will also help your strike a good deal.

Another advantage of purchasing a foreclosed house is that the miscellaneous expenses that go with it are also cheaper. Therefore, you will be able to get a good bargain for a very low price.

You can also profit from investing on these houses. Like the Gilbert Homes, you can set it up for sale. Most foreclosed houses need a little renovations and repairs. By spending some for its repainting and other repairs, you can resell it at a much higher price and generate more profit. In fact, this is what most investors do today. They look for cheaper houses, renovate them, and sell it at a much higher price.

However, buying a foreclosed house is not a walk in the park. You might encounter a few challenges if you do not do your research ahead of time. For a smooth transfer of ownership, make sure that you know what goes with the house when you purchase it. This includes unpaid taxes and other liens. In addition, you have to make sure that the previous owners are no longer staying in the property. This can be very difficult to handle as previous owners may refuse to leave.

You can benefit from purchasing foreclosed house, just make sure you know more about the property before making the purchase.



Sell and Rent Back

asing popularity of those home improvement reality television shows have inspired more and more people to embark on their own home renovation projects. These shows first made their debut a few years ago and they sure are fun and interesting to watch. They are now among the great resources for us to gather information and ideas from for the changes we would want to do in our homes. What makes us even more inspired is how happy and satisfied the homeowners look after the job is done. Plus, the teams working on the projects make it look so simple, easy and fun!

As we all know, home renovation projects are no simple feat. The task can be really challenging and exhausting, especially if you do not know where to start. The good news is, there is no way you are required to do the project (or projects) on your own. If you feel overwhelmed by the thought of making changes in your home, it is best that you get some help from well-experienced and reliable people. There are plenty of companies that offer different kinds of services for home renovation projects. They even help you with the planning, designing and even materials purchasing.

Perhaps it would be a good idea to take your home renovation project one baby step at a time. Start remodeling one room of your house. An investment in a remodeling project in just one room can reap great rewards. First of all, you get to be more comfortable in that room. Second, renovation projects catch the eyes of the real estate community. Statistics show that a single room in your house that had work done can dramatically increase the value of your property should you choose to sell it later on.

Take the bathroom, for instance. The bathroom is usually a part of the house that is unappreciated and overlooked. For most homeowners, the bathroom is just seen as a utilitarian space. The bathroom, however, should be seen as a space in your house where you can pamper, spoil and even take care of yourself. When it comes to bathroom remodeling projects, there is a world of possibilities to make it as welcoming and comfortable as it should be.

When remodeling a bathroom, you must first come up with a bathroom design that you will fall in love with. The essentials such as the toilet, bathroom sinks and faucets, bath tub and/or shower, medicine cabinets and tiles have not change. However, there are dozens of designs for each of these essentials that are available for you to choose from. You should also know that the possibilities do not end there. There are now plenty of bathroom accessories that you can get to further beautify your bathroom. You can add a soap dispenser, a bidet, a bathroom fan, benches or seats, towel warmers, shower seats. The list is just endless! Picture what you want to do and what you want to have in your bathroom. If that task seems to be too much for you, seek the help of a contractor and designer to help you come up with your bathroom design.

The advantages of hiring a contractor is that they also give you advice on the building regulations in your city. In New York, for instance, there are certain building codes that you must adhere to. In addition, these contractors usually offer the service of acquiring building permits from your municipal office. That alone is a great load off your chest as it saves you the time, money and effort of going there yourself. For a home renovation project to be successful, you must keep an open communication with the people you are working with. Some contractors even offer you the services of a personal project manager to supervise the remodeling process. The project manager also serves as a communications channel between you and everyone involved - the designer, suppliers and the workers. Be sure to be clear and to discuss all your ideas and even concerns to your project manager. From the bathroom design, for instance, to the very minute detail of your demands.

So, go on and take the plunge. Do not be scared to be creative. Think like an artist and let your bathroom be your canvass. Get that bathroom design down and get ready to have the bathroom you have always wanted with this home renovation project.



Passive Income

For years, Portugal has seen a huge rise in real estate developments including prestigious housing units, vacation resorts, villas and apartments. Properties within Central Portugal have been developed, in part, for the sake of investors or foreign buyers.  And, while these developments may be catering for the needs of property investors and tourists, there is still lots of affordable property available in cities, charming villages and towns as well as in the rather dramatic and diverse countryside. So when you are looking for a really special place to call home, look for a property along the coastal areas of Portugal but don’t forget to look inland as well. If you’re fond of sunshine and want a home somewhere beautiful, perhaps even near a beach, Portugal is the place to buy your dream home.

 

There are many newly developed properties along coastal Portugal, but there are also many properties available for renovation. Renovated properties are on offer for those buyers searching for affordable real estate as holiday homes, for a change of lifestyle or for a sensible investment. There are many companies that will help you find a Portuguese property in need of renovation. To make your search easier look on the web for online real estate dealers.  These offer different types of properties within each region.  Aquarios.co.uk is one such website where you can find a diverse range of waterfront and coastal, inland and countryside properties in Portugal.

 

Property renovations along the coast of Portugal are amongst the trendiest in the real estate market. The main reason for this is affordability. There are many different kinds of properties within the regions that can be renovated including single family homes you could use for holidays in Portugal.  While you can rent a residential apartment during the summer holidays, why not purchase one to use each year and perhaps rent out when you’re not using it.  Holiday properties are also suitable for families wanting to live in style while traveling within Portugal and Europe.

 

There are many people opting for property suitable for renovation. This is happening not only in Portugal but all around the world, especially in coastal regions. The weather is perfect for many outdoor activities and a slower pace of life gives you the chance to refresh and recharge the batteries.

 

According to real estate trend analysts, the rise in Portugal property sales will carry on over the next ten years. This real estate boom is strong within residential properties especially in rural areas.  Luxury housing is one of the best selling types of real estate, but renovated properties are also gaining considerable attention.

 

Portugal’s coastal areas have always been popular because, with the great weather and beautiful beaches, those regions are great destinations for holidays spent away from the grey skies of London and other European cities.   Its no wonder that tourists and investors are scrambling to buy a Portugal property.  For many years, the waterfront properties of Portugal have been considered amongst the most desirable real estate in Europe.  Demand for such property within Portugal is similar to that in other popular holiday destinations like the French Riviera.

 

If you want to buy property ‘ripe for renovation’ or a previously renovated property, in Portugal you have many different options to choose from - semi-detached or detached property, a lakefront or riverside property, a coastal property, land or a plot on which to build, a terraced property or even an apartment within a town or village. Whatever type of Portugal property you’re interested in, you can make your hunt easier by checking out online real estate companies. With such a convenient method of buying property, the search for your perfect home can be done without ever leaving the comfort of your computer.

 



Rent Back

Are you renovating your home and are anxious about the looming problem of storing your household goods? Space for a growing family or time a new look may lead you to go in for house renovation or remodeling. This requires shifting and packing up your house and then the headache of storing it all safely.

Self storage facilities are the answer to your problem as they provide you with a convenient storage facility with a variety of storage units of different sizes. The advantage of these storage facilities is that you only pay for the time that you utilize its services. The easy 24 hour access and round the clock security takes a weight off your shoulders when you are in the process of renovating your house.

Organizing, packing and piling the boxes may make room in the house but you need to protect your furniture, appliances and valuable collections once the work gets going. Security and handling of house hold goods and furniture becomes a major issue of concern as your precious collections, valuable antique furniture and household goods cannot be left at the mercy of renovators and construction workers.

With many different self storage facilities available in your area, you can check them out and pick the one which suits your requirement for safe storage.

How can you evaluate self storage facilities?

Some points to consider when choosing a safe and secure storage unit to hold your household goods and treasures are:

• Climate controlled storage units

This is essential to protect your furniture and valuable collections from mildew and fungi, during the storage period. So evaluate the ventilation and climate control features. Will you have control over your storage environment?

• Insurance

Does the self storage facility provide you with insurance or do you have to buy a separate insurance cover? It is best to check before signing the lease deed. They might have stringent security but may not protect your goods against fire, floods and natural disasters.

• Security in the storage facility and storage units

If you want to store precious heirlooms and valuable collections, its best to go with a ultra modern self storage facility with state of art security systems. But if you only need to store house hold goods while renovations are underway, you can go for a less expensive self storage unit offering normal security options.

• Moving facilities

Before packing and stacking, it is better to check with the self storage company about their moving facilities. Most of the self storage companies provide for cartage and moving trucks, so you may even be able to negotiate a discount.

It is better to be prepared while packing and organizing your belongings inside the self storage unit.

Handy tips for organizing your valuables and boxes in a self storage facility:

• Judge your storage requirement and discard your junk:

You need to sort out the essential items that need storage and throw out the junk so that you rent the space for storing what you really want to keep. You will save money by renting out less space and then time when you resettle the house.

• Packing and storage inside the storage unit:

Put the heavy unbreakable items be on the floor and pile up the fragile items on the top. Disassemble and store large furniture and appliances to save on space. It is better to store goods in completely covered locked boxes to keep them away from dust and mildew.

As renovation might take some time, it is better to have everything safe, stored and out of the way. After the renovations are done, just arrange to get back your boxes put your home back together again.



Sell and Rent Back