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Short Sale Specialist's Blog

By Mike Linkenauger | Real Estate Pro in Jacksonville, FL
  • Austin Property Management Company

    Posted Under: Home Buying in Austin, Rentals in Austin, Investment Properties in Austin  |  May 30, 2013 1:36 PM  |  1,865 views  |  No comments

    Austin, Texas Property Management Services

    While it is possible to manage your own rental properties by yourself, having an experienced Austin property manager is not only a way to avoid many headaches, but also a way to avoid potential lawsuits.

    Finding the right Austin property manager can be a very difficult task, and we believe is equally as important as finding the right properties.  We hope you find this a helpful resource, and will consider us to provide you unparalleled service.

    Finding a Austin Property Manager That Fits Your Needs

    The best way to find a property manager is to first come up with a list of things that you are looking for in a property manager.  The list below is by no means completely comprehensive, but here are a few things to consider asking -

    • How do they advertise vacancies and available properties? Vacant rental properties mean a loss of income to you, the investor.  You are the one who bears the unfortunate burden of a vacant property, not the property management company.  A good property manager who cares about maximizing returns will be very aggressive with their marketing and advertisements of your property. In addition to traditional yard signs and newspaper advertisements, good property managers will have very aggressive online marketing programs including advertising on Craigslist, their own websites, the local Multiple Listing Service as well as other popular rental websites.
    • How they show properties to potential tenants? The process that a property manager uses to show available properties will not only show the precautions they use, but also the systems and assistance  they have in place.  This can be critical in determining if they will be successful in obtaining quality tenants.  Having a property manager that is only available to show your property on Monday-Friday from 10AM-5PM will drastically decrease your odds of getting a qualify tenant with a day job, as well as drastically reduce the pool of potential tenants for your property.
    • Can they work to help you procure properties? Most savvy investors always have an eye out there looking for potential investment properties.  Are they able and willing to help you find acceptable properties to purchase in the future, and then manage them afterwards?
    • How do they screen tenants? This may be perhaps the most important item. You will want to make sure that they are doing a complete background check on potential tenants. A simple background check can find any negative history and keep you from huge losses.  In addition, a good property manager will verify income and also check rental history.  Poorly screened tenants cost landlords thousands in property damage, lost income, and even attorney fees and eviction costs.
    • How do they collect rent, including past due rent? A good property management firm will have a good plan in place to not only deal with properly collecting rent money, but promptly and effectively dealing with tenants who are late with rent.
    • How much do they charge for their services? Considering all of the work that goes into managing rental properties, property management fees are very reasonable.  Most will charge a percentage of the income produced by the property.
    • Do they have adequate liability insurance and errors and omissions insurance? This is pretty important, as it can save you money in potential lawsuits.  Make sure your property manager is properly covered.
    • How do they deal with after hour and weekend emergencies? Remember, you are hiring a property manager to help get rid of your headaches.  If they don't have a good plan in place to deal with these issues, why do you need their services to begin with?
    • How do they account for everything? It will serve beneficial to find out what kind of accounting services potential property manager offer.  When it comes time for tax season, great accounting means less work for you.
    • How they handle property maintenance issues and expenses? You are looking for an advocate in the grand scheme of things.  Having a property manager that will not only effectively coordinate maintenance items, but will work to keep your expenses at a minimum is critical to maximizing your return.

    Choosing the best Austin property manager

    The reason we know all of the questions to ask when trying to find the best property manager, is because we truly believe we are the best property management company in Austin.  Establishing and maintaining a good relationship with a property management company is an important step in real estate investing and something that should be done with care.  The decision on who to turn to and trust with perhaps the most valuable assets is a very important one.  We wouldn't expect you to make this decision based off an advertisement.  We would love the chance to speak with you and even meet with you to discuss how we can help you.  Our goal is to exceed your expectations.  Please visit our website at austintxpropertymanagers.com for more information on our services.

    Jeff Clawson

    AustinVestors

    Phone: 5126952425

    austintxpropertymanagers.com

    License Number: 0585470

  • Austin and Round Rock Short Sale Specialist

    Posted Under: Foreclosure in Austin  |  February 19, 2013 2:22 PM  |  478 views  |  No comments

    Austin and Round Rock Short Sale Specialist

    Short Sale Specialist in Austin and Round Rock

    What is a real estate short sale in Austin and Round Rock?

    A quick sale in real estate, also commonly called a short sale, happens when a lender is willing to accept a lower pay off on a loan than what is currently owed due to the borrowers inability to continue making payments.

    What does it take to qualify for a Austin and Round Rock Short sale?

    Short Sale Specialist Realtor in Austin and Round RockWhile lenders seem to be easier to work with lately regarding qualifications, there are usually three borrower qualifications that most lenders require for a Austin and Round Rock short sale. 

    1. Negative Equity - The proceeds from the sale of the property, after all closing costs
      are paid, are less than the amount currently owed on the property,
    2. Financial Insolvency - Financial insolvency means that the borrower has no other assets that could cover the deficiency (the difference between what is owed on the property and the proceeds from the sale)
    3. Financial hardship - Financial hardships that are acceptable do vary some from lender to lender, but the most common ones are; divorce or legal separation, loss of employment or reduction in income, job transfer or relocation, incarceration, medical emergencies or major medical expenses, death of a family member, vacant rental properties, damaged property, just to name a few.  Most lenders believe that a short sale is not for home owners who simply want to sell, but for those who have to sell. 

    Is it possible for me to get money back for completing a short sale?

    Until recent times, it was almost unheard of for a home owner to get money back in a short sale.  Things have changed for the better.  The HAFA program, backed by the US Government, allows homeowners $3,000 to use towards relocation expenses. In addition, some lenders will offer generous incentives of their own in addition to money offered through the HAFA program.  We have seen home owners get as much as $35,000 back to complete a short sale.

    Who will pay the Austin and Round Rock short sale Realtors® commission?

    In a short sale it is customary for a lender to cover all fees associated with the sale of the property, including your Austin and Round Rock short sale specialist as well. In almost all cases, a home owner in hardship will pay no out of pocket expense to complete a short sale transaction.

    How Can a Austin and Round Rock short sale specialist help me?

    As a Austin and Round Rock short sale specialist, I have helped many home owners who are in a Short Sale Realtordifficult financial season get a fresh start with a short sale.  Short sales are not part of our "basic training" as real estate agents, and are something that should only be left to those of us who are especially qualified and experienced.  Experience is everything when it comes.  I'll not only market your home in the traditional manor, but will guide you through this transition while simultaneously processing the short sale with your lender.  Visit my website for more information on the short sale process.

     

    Jeff Clawson

    License Number: 0585470

    AustinVestors

     (512) 695-2425

    shortsaleintexas.com

    ~ Your Austin and Round Rock Short Sale Specialist Realtor® ~

     

    Austin
 
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