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What Real Estate Agents Do for You

Real Estate Agents

 

Buying or selling a home can be very stressful, especially if you’re trying to navigate the waters on your own. If you’ve hosted a showing of your home or have gone to any open houses, you’ve likely been bombarded by agents. As annoying as they may sound, most of these agents are actually trying to help you with the buying or selling process. However, the tricky part is finding an agent who you trust and has your best interests at heart.

 

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Credit Scores Explained

What Is a Credit Score?

 

Your credit score is essentially a calculated number that banks and lenders use to determine your ability to repay debts. Many factors are taken into consideration when calculating your credit score, and there are three main bureaus (Equifax, TransUnion, and Experian) that track your score. Your credit score can be used by lenders or bankers to determine whether you qualify for any line of credit, interest rates, deposit amounts, length of repayment, and more aspects that determine the overall terms of your line of credit. It is very important to understand the factors that these bureaus look at when configuring your score so that you can start building an impressive credit score.

 

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Should I Raise the Rent on a Good Tenant?

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Good tenants are hard to come by. So when you have one, it’s normal that you’d do everything in your power to keep them. But, is it possible to raise the rent on a good tenant without losing them? This is a question that many landlords ask themselves.

Sometimes it’s necessary to increase the rent when property expenses such as insurance or taxes go up. Other times it comes up when a tenant leaves.

It goes without saying that raising rent can be a risky prospect for any landlord. Opting not to raise the rent or raising it too little can mean leaving money on the table. On the other hand, raising it too much can leave your tenants scurrying for a new place to live.

That said, as a landlord, raising rent is inevitable. It’s something that you’ll have to do at some point in your career. Remember, as a landlord, one of your priorities is getting a great ROI on your properties. (more…)

Top 5 Questions to Ask Potential Memphis Tenants [and What Not to Ask]

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Every landlord wants awesome tenants. These are the tenants who keep the place clean, pay rent, report maintenance issues, and don’t complain often. However, as most landlords in Memphis can attest, getting such a tenant isn’t an easy task.

Getting a good-quality renter requires a lot of homework. And, most of this homework involves screening each and every renter to determine their suitability to rent your property.

Typically, a good screening process involves doing such things as checking out every prospective renter’s criminal records, income sources, rental references, and credit report. Also, key to the success is knowing what questions to ask when renting your property.

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Best Areas in Memphis to Invest In

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If you are considering investing in real estate as an alternative to investing in mutual funds, bonds and stocks, you are not alone. The fact is that investing in real estate can be highly profitable due to things like tax benefits, cash flow, asset appreciation and more.

And just how many times have you heard that location is everything in real estate investing?

Memphis is one of the hot markets this year, and this is projected to continue into 2019 and beyond. These are some reasons that make Memphis such a great investment destination.

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Increased Construction Costs Creating Sellers & Renters Market

With the renegotiations that have surfaced under the current government, Memphis’s land, home, and construction prices are soaring. Currently, Memphis homeowners and investors have seen a 3.6%  increase in home value this year. This real estate boom is not as surprising as it may seem, however. It is directly correlated to the increased cost and difficulty in building new properties in Shelby County. There are many variables that play into this increase in cost and difficulty, and though it may appear as though the housing market may take an unfortunate turn, these circumstances have actually created a fantastic opportunity for anyone looking to sell their current properties. Not only is this a seller’s market, but it is also a prime time for current and potential renters in the city. Renters and those selling their properties will likely benefit the most during this real estate boom.

 

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Buying Memphis Investment Properties: What You Need To Know

 

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For real estate investors, Memphis is a great investment destination. Following the upsetting blows of the real estate bubble bursting, the Bluff City has taken its time getting back on its feet.

Now, it’s a booming real estate destination for investors interested in investment properties. The investment properties are not only reasonably priced, but the demand is also on the rise.

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Benefits of Renting in Memphis

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Renting a home can offer tenants freedom and financial advantages that are often overlooked when discussing longterm finances. While homeownership may be a lifelong goal for many Americans, renting is typically a safer and more stable financial decision. Renting also offers high mobility and lower risk when compared to a long mortgage. Memphis is a particularly good city to rent in because of the competitive rental market. Memphis’s average rent is $855  and is $450 lower than the national average at $1405. Let’s take a look at a few of the major advantages of renting a home in Memphis:

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Five Tips on Getting Your Deposit Back

 

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Getting your security deposit back is much simpler than it seems, and having that extra cash can be extremely helpful while you’re moving out of one home and into another. Rental companies and landlords actually prefer to give you as much of your deposit back as possible back because that means the home was left in good condition. Here are a few tips to help you out in getting your deposit back:

 

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How to Find Tenants for Your Memphis Rental Property

 

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A vacant property is every Memphis landlord’s nightmare. A vacant rental property means no income at the end of the month. Filling a rental property is, therefore, key to the success of your rental business.

However, as every landlord in Memphis can attest, finding reliable tenants to fill a rental property isn’t easy. An ideal tenant is one who is keen to follow all rental lease terms, is responsible, and one who is able to pay rent in full.

In this article, we reveal proven ways that teach you how to find tenants for your Memphis rental property. (more…)

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