Sometimes as homeowners, we have to make tough decisions. These might include compromises when we’re building or remodeling a house. Other times it’ll be what to do with a house when we’re going through some financial strain. In the latter case, it might appear that we’re going down into a pit of despair and have no choices to make that will help us out. But in a lot of cases, homeowners don’t really know what options are available to them.
When it looks like bankruptcy is the only option
Last year, Houston went through a terrible flood due to Hurricane Harvey, something that hadn’t happened in a really long time. Because of the unexpected widespread flooding, many homes were basically destroyed without an option to rebuild from any type of insurance. In fact, most insurance companies denied claims even if flood insurance was present. Any FEMA can only do so much with a dry budget.
One of the families that went through this flood tried to remediate the home and recuperate from the disaster, but they weren’t able to afford the repairs and they were falling behind on their mortgage. 9 months after the flood, they were now in foreclosure, and ran the risk of utterly ruining their credit and ability to take loans any time in the future, while also losing the property outright and not being able to live in it.
That’s when a home buyer company stepped in. Learning that the home was going to be auctioned in 7 days, they found a way to get the home taken off the list, and received confirmation that it would not go through the auction literally the day before it was to take place.
Now, as the homeowner, that’s a tough decision to make. When you’ve purchased a home, put money into it, and built equity in the property, it’s tough to make a decision between salvaging what’s left in your credit score and simply letting it all go through foreclosure, or filing for bankruptcy. In a situation such as this, there are no returns to be made for the homeowner. It’s purely about preserving the ability to make future financial decisions based on credit and reputation.
Understanding the motives behind the home buyers
Look, home buyers are there to make money. They are real estate investors, and they do make money off either connecting a seller and a buyer together, flipping the house after a repair by buying low and selling at market value, or lending to a flipper to make the rehabilitation happen. In any case, someone ends up losing money, and that’s generally the seller. But the alternative is that they would’ve lost a lot more. When dealing with a foreclosure, bankruptcy, relocation, vacancy, or any other situation where a seller would do better to sell the house, they are generally letting another company take the home away when they otherwise would have to sink even more money into it.
The difference, however, is that some home buyers will do all they can to screw you out of a home, while others sincerely care about your well-being and will do what they can to make sure you get the best deal possible. They’ll even help you move when you absolutely need it, and follow up with you when they want to know that you were taken care of. That’s when you know you’re working with a company that’s there to make sure you get what you need and they’ll be able to make money on their end as well.
Look at your options objectively
The important thing is to know that you need to remove the emotional connections to a decision in order to make the right one. When you look at your situation objectively, you can see what would obviously be the easiest route vs something that would keep you in a tough situation that will continue to burden you, cause more stress, and wreak havoc on you financially.
For more information on home buyers and getting out of tough situations, check back for more on our homepage.
How to hire the right property management company for your real estate matters for the success of your business. For you to achieve the best out of the running of your real estate business, it is necessary to take your time and locate the best company. If the time is right, you should start looking into hiring property managers. Click here to read if the time is right.
Real estate companies typically work very closely with property management companies. A Bristol real estate company Tier 1 Real Estate owner, states, “having the right property management company is detrimental to your profitability”.
Some of the factors you should take into consideration include visiting sites where the company has ever worked so that you can get to know the opinion of other people about the quality of services they offer. Here are some of the factors you should take into consideration so that you can hire the best real estate management company:
Check on the experience of the company
There are some real estate management companies which have been in business for long. In order to make the right decision, it is necessary to check for the period of time the company has been in operation. You should hire a company which has been in operation for a long period of time so that you can achieve the best services.
Rates of the property management services
The company you will hire will charge you the service fee. In order to realize value for your money, you should ask for free quotes from different service providers and compare them. The types of real estate property managed by the company also matter. If you have residential real estate property, then you need a company which manages the residential properties. Some companies even specialize in managing commercial real estate companies.
Customer care support at the real estate management company
You need to hire a company which you can easily reach in case of an emergency. Check and confirm whether the company you are about to hire has reliable customer support where you can call them at any given time to access the service.
A lot has been written about the specific species of wood that work best for construction of log homes. If you are planning to construct a log cabin, take time to know more about the pros and cons of some common wood species.
One of the wood species usually used for log cabin construction is spruce. Spruce is extensively used in interiors in British Columbia where most log houses come from. Spruce often grows straight and just a bit of taper which makes it a great option of log construction.
But, it is very common for this particular type of wood to grow with spiral grain. The spiral grain logs must never be used in home construction because doing so might cause some disastrous results. Just like pine, spruce is moderately strong with moderate shrinkage during the process of seasoning. Similar to pine, this also provides low decay and insect resistance. The spruce logs have the tendency to require more maintenance as compared to other wood species, particularly Western Red Cedar and Douglas fir.
Lodge Pole Pine
Without a doubt, the lodge pole pine is among the most widely and commonly used species of wood for log wall construction. This is straight with low tape because of slow growth as the result of dry climate where this is found. This is also moderately strong with low to moderate shrinkage during the process of seasoning. This wood specie provides just moderate to low decay and bug resistance so great care is required to ensure that these logs will be treated for decay and insects.
This is a wonderful option for log shell construction because this has low tape and grows straight, and is extremely strong. Similar to spruce, however, Douglas fir also grows with spiral grain. These logs are strong and suitable for purlins and beams. This has moderate shrinkage as well as moderate to high resistance to decay and insects. Log homes made from Douglas fir also look more uniformed compared to others due to low taper.
Western Red Cedar
Western Red Cedar or WRC is mostly considered as the best option for log home construction. These quality logs have low moisture content and low to moderate taper. The WRC logs tend to shrink the least compared to all wood species during the process of seasoning. WRC is straight grained most of the time and provides high natural decay and insect resistance. This is also moderately strong, making it perfect for log wall construction. This is also the sole specie growing with butt flares which are getting more and more popular in today’s log houses. These flares provide the customer the chance to make their house unique and add a touch of handcrafted and more rustic look which sets it apart from cookie-cutter style of log houses found in a lot of areas.
When choosing the best logs for the construction of your home, make sure you research about the available wood types in your area.
Real estate can be a tricky topic. If you own a home and it’s becoming more troublesome than it’s worth, consider selling to a real estate investor if you want to liquidate quickly and don’t want to drop any more money into the property.
To learn about selling to a real estate investor, check out this video: https://www.youtube.com/watch?v=uKMtA504nYw. You can also check out the channel at https://www.youtube.com/channel/UC2Vvx_tpj0xIHERQDQ6ex1Q.
In the coming weeks we’ll be revamping our site and what we offer to give you the best information possible about real estate, business, and housing pro tips that you immediately take action with. We’ll bring in experts and advice from different industries and companies that can help our community be informed with all aspects of housing as far as business, home ownership, or being a landlord.
With that said, we’re always looking to get advice from our readers on how we can better improve our platform and community, and what types of information would be beneficial for you. Feel free to drop us a line or comment on our posts to let us know!