Dc Fawcett Reviews – The Disadvantages Of Mobile Homes

 

Mobile homes are homes which are built together and installed on a chassis before they are transported to the site. Nowadays, mobile homes are like manufactured homes and are not continually mobile. They stay in the same place once they are fixed on land space.(Pros of Mobile Homes) Mobile homes reduce cost of buying and maintenance while they offer attractive options for recreation. Yet they have their share of disadvantages. In this article, Dc Fawcett reviews, a real estate investor and speaker reviews the cons of mobile homes.

The Disadvantages Of Mobile Homes-dc fawcett

Mobile homes have undesirable heating and cooling levels

Trailer mobile homes often have narrow structures and thus little space. They become too hot in the summer and too cold in the winter. They lack ventilation. Their buyers have to shell out money to make modifications to correct these issues.

Mobile homes are constructed with low quality materials

Very cheap mobile homes are so because they are built from down quality materials. They lead to stuffy summers and bitterly cold winters.

Mobile homes on leased land depreciates

While mobile homes on owned land and on parks which have ponds, lakes and other beautiful views in close proximity to them tend to appreciate in value, other mobile homes tend to depreciate. This in turn leads to loss of money for the home owners. Also, mobile homes are difficult to sell compared to traditionally built homes.

Difficult to obtain loan

Because of depreciation and hazards in selling, lenders don’t give loans for mobile homes easily. They also charge high interest rates on giving the loan.

Conclusion

These are some of the absolute disadvantages of mobile homes as reviewed by Dc Fawcett.

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Dc Fawcett Reviews – Analyzes Mobile Homes And Their Advantages

 

Mobile Homes And Their Advantages

Before the late 1970s, mobile homes were assembled together and were moved from one place to another on wheels or in other convenient ways. But, now they are constructed together and fixed on land space. They cannot be moved around constantly after that. In this article, Dc Fawcett analyzes the pros of mobile homes – Dc Fawcett Reviews

Flexibility

Mobile homes can be installed on either your owned land or on rented spaces. Rented spaces for mobile homes are often those with magnificent views like lakes, ponds and trees. You can even go in for second hand mobile homes. You can do desired changes to the home. You can add fresh paint, counter tops or wall pieces. You can position mobile homes and later remove them when needed although they are not  continually mobile. There are semi-permanent mobile homes called as double wide homes. Mobile homes thus offer pleasure and versatility.

Costs associated with mobile homes

When you buy mobile homes, you don’t have to shell out as much money as you do for permanent homes. They demand lesser down payment. If the land is yours, you will pay lower property taxes else the taxes get adjusted as part of the maintenance expenses.  You get a cut in the maintenance fee too. You don’t have to pay for plumbing, gas lines and sewage. The cost of heating and cooling your mobile home is less due to smaller space. Thus overall expenses are more economical.

They can be constantly upgraded

You can continually improve mobile homes to the in-the-trend standards. They are built under controlled circumstances and do not require postponement in building.

Mobile parks

These offer entertainment and vacation spots. They come in close proximities to ponds and lakes. Such mobile parks are often a home to retirement communities. People with same interests, age group and tastes enjoy their life here. They socialize well.  Such communities offer home theaters, swimming pools, walking spaces and so on.

Eco-friendly

Mobile homes are environment friendly. They can be built with materials which emit less carbon and other toxic substances. Nowadays, you can find top class construction materials for mobile homes.

Appreciation

Although mobile homes on parks sometimes go down in value, with more facilities to commute and in specific mobile parks around ponds and lakes, they tend to appreciate. Also, mobile homes on owned land inflate. Mobile homes which contain 2 units connected together generally tend to appreciate.

Help in building equity

Since mobile homes are not as costly as permanent homes, the savings from mobile homes can be used to buy less expensive homes. This way, you can build up on your home equity and own more homes.

Conclusion

Thus from this analysis by Dc Fawcett, mobile homes come with a host of advantages. They are attractive options for young people who want to incur less advance fees, maintenance and remodeling costs. They are highly flexible in terms of installing. They offer great entertainment amenities and market your home successfully . Thus mobile homes offer unique perks.

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Dc Fawcett Reviews Buydown Mortgage

 

Dc-Fawcett-Reviews-Buydown-Mortgage

A buydown mortgage is something in which the buyer buys down a loan. He obtains a lower interest rate and lowers the monthly payments. In this article, Dc Fawcett, an expert in wholesaling, rehabbing and cash flow investing, reviews a buydown, the types of buydowns and the benefits of a buydown.

Elaboration

The buydown mortgage works by depositing cash estimated by calculating at the buydown percentage  in advance. The bank or the lender then reduces the interest rates and hence the monthly payments. For instance: you are taking a 30 year old mortgage for $ 30,000 for a rate of interest 5%. You can pay a 1% extra upfront fees and the lender lowers the rate of interest by 0.25%. The rate of interest then diminishes by 1/4. This helps you save money in the monthly payments and helps you plan ahead.

2-1 buydown

A 2-1 buydown is a Mortgage where the interest rates are lowered in the first 2 months and then it becomes a fixed rate mortgage. The interest rate increases step by step and becomes constant after the first 2 months.

A 3-2-1 buydown

A 3-2-1 buydown is a technique in which the interest rates are lowered by 3%, 2% and 1% in the first 3 consecutive months. They increase in this slow fashion and then become constant. This 3-2-1 buydown mortgage is extremely beneficial to the buyers. They can save money for the increased monthly payments ahead. The fact that the interest rate becomes fixed after 3 years helps them plan ahead by looking at their present monthly income and saving for the future.

What should you consider before you take a buydown

Before you take a buydown, it is important to estimate over what time you can earn back the interest bought down. Suppose you pay a buy down amount of $25000 for a mortgage, then you should be able to estimate after how much time you can get this money back. The decision to take a buy down also depends upon how long you are going to stay in that home.

Benefits of a buydown

A home builder or seller offers the buy down sometimes. He allows a buy down for a fixed period or for the entire mortgage. This allows the home buyers who cannot afford heavy downcash or those who cannot pay high monthly payments to become eligible for the loan. This type of buy down is usually a no cost mortgage interest rate buydown. Another important benefit of a buy down is that the down payment can be deducted from tax. This down payment comes down as mortgage points and can be debited from tax only in the same year as it is being paid for house purchase.

Conclusion

By reading this review by Dc Fawcett, a virtual real estate investing expert, you can get immense insight into the various aspects of a buydown. Fawcett is the owner of virtual real estate investing systems in which he gives tips to expand people’s real estate investments. He invests in areas which he does not live in and is a virtual real estate investing whizz and mentor.

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DC Fawcett – What Is Flipping House?

 

What Is Flipping House

Mistakes that new house flippers do and what they should know :

What is flipping?

When you involve in flipping house real estate property you purchase it for a low price and then eventually resell the property for a higher price. DC Fawcett says This is done within a short tenure. While in some instances you enhance the house you may also leave the property as it is in other instances. In the second case another investor gets interest in the property.

Property flipping is a famous practice in the world of real estate. Flipping should be carried out in an ethical and legal manner and all the representations of the house condition should be correct. The value of the property should also be accurate.

Now let’s go over certain aspects of flipping:

  • At the initial stages of flipping several flippers doesn’t have sufficient knowledge about the cost it takes to renovate a house. So they budget an amount that may not be correct. The problem is estimating repair costs in the most correct manner.

  • Repair costs may spring suddenly when you have started to renovate the house and you have to contemplate upon the hidden repairs in the initial stage itself.

  • You would have spent lot of time in flipping and would have expended a huge sum. So it is natural that you desire to sell of your property in a swift manner.

  • You may think that through flipping is a get-rick-fast method. But you have cognizant of the fact that similar to other type of long-term investment it requires perseverance.

  • Sometimes several house flippers will associate with another investor while in the process of flipping houses. It may be that while one investor deals with the cash transactions including paying the sum, another one will scout for the deals. In fact, the second person will be carrying out maximum work. Partnering can be a viable option if there is clarity of job and written agreement is available. Why do real estate investors endeavor in partnering? This they do so to share the risk. Having said that, it is not wise to enter into partnership on a real estate deal. When the partners have well-defined roles then this can be considered.

  • One should get the help of the right contractor while flipping. See to it that the contractors don’t raise prices, get the help of wrong individuals etc.

  • We should supervise the contractors and see that they are efficient and working in the limit of the budget. Ensure that you keep a watch on them in a thorough manner and before paying them more money see to it that they have done the previous work correctly.

There was a time when there was no problem with the legality of flipping. House flippers were in a position to make lot of money finding property bargains and also taking them to the notice of prospective buyers. Owing to the usual stagnancy of the market certain individuals made huge sum flipping properties. Then the home market value started rising in a sudden manner and wrong people entered into real estate field.

Conclusion :

There were also certain people of the real estate flipper industry who involved in illegal activities including making the appraisers to raise the value of the property in a false manner. Also they involved in faking the required documents.So the key is to carry out the flipping activities in the right manner.

DC Fawcett is proficient in Virtual Real Estate Investing; one can know about how to develop their business and to build different income streams.

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DC Fawcett Real Estate – The Questions To Put Forth While Purchasing A House

 

The-Questions-To-Put-Forth-While-Purchasing-A-House

Introduction

You may be having various questions in your mind regarding purchasing a house. Here then, the realty agent is supposed to tell the situation as it is. For this you have to put forth the appropriate questions.

The markets will not remain the same. Sometimes it may be in favor of the seller; sometimes in favor of the buyer. According  to DC Fawcett It’s better to pose questions to your agent so that you gain knowledge about the nature of market.

Now let’s see some of the questions that the home purchasers should ask at the outset of purchasing the home.

  • You can ask questions about the offering price. You can ask about the span the property has been in the market, the amount the seller paid, the outstanding amount of the seller etc.

  • It is also good to explore about the condition of the property prior to buying. This includes the nature of foundation, the presence of insulation in the walls of the property etc.

  • The world of real estate revolves around location and it goes without saying that homes in nice areas have more value. You can also know about the demographics in the vicinity, the type of houses in the neighborhood, the location of the schools etc.

These are some of the questions that you can specifically ask to the professional agent.

  • You can ask the reason for the owner’s act of selling the property. It may be that the owner has some work in abroad and they have to leave the place for that.

  • When you have some doubts, you can ask the neighbors too so that you would be in a better position to know even the negative factors.

  • You can ask about the elements that the sale encompasses. This may include asking questions like the inclusion of garden shed.

  • When you come to know that the owners are shifting from the property after a short span you can know the reason.

  • You can also ask the agent regarding their prolific nature of their offers. When you know about the other offers you can easily cognize what sum you should give.

  • You can know the time when the sellers should relocate. It may happen that you have to wait because they didn’t find some other place to move in.

  • You can also find whether you can communicate with the sellers.

  • The availability of noisy neighbor is another important thing to be considered while purchasing a property.

  • You can ask the agent to elaborate on the Energy Performance Certificate.

The various online information centers may not provide you the correct estimate; it can only give a rough idea of value in your neighborhood. Agent CMA is another aspect wherein you get a comparative market analysis i.e it gives idea about the worth of your property.

Conclusion

One should remember that an online estimate cannot be an alternative for agent CMA. Also it cannot exactly take the place of an appraisal.

Dc Fawcett, the founder of the Virtual Real Estate Investing Club, has given a fair idea regarding these lingering questions about realty market scenario. You can get a clear idea by going through Dc Fawcett’s blogs and get an answer to your questions.

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