Gene's Bit of Blogging

Rental Properties and Investments

Playing in the Rain in North Carolina ...

Gene Mundt, Mortgage Lender: Posted on Thursday, May 03, 2012 11:36 AM

Playing in the "Rain"

in North Carolina

Over the last week, I have been lucky enough to view some of the most beautiful places and sites our country has to offer.

My wife and I decided we were going to take some much-needed days off and just drive. Enjoy, relax, and see what we could see. Through modern technology, I stayed in-touch with my clients, referral partners, emails, and office ... and never skipped a beat. (Thank you portable WiFi ... Fantastic!)

Marilyn and I headed southeast from Chicagoland towards North Carolina. It was totally amazing to see how our country's land changes from one region to another. The color, texture, lay of the land of the midwest totally different from that of the mountainous areas and south.

Click here 4 info on Pinehurst, NC golf/courses!

I got the opportunity to get some great golf rounds in while gone.

We visited Pinehurst, NC ... the area known as the birthplace of golf in the United States.

The choices of courses is staggering in the Pinehurst, NC area ... and merely choosing which course to play is almost as hard to do as playing the challenging courses themselves. While I played golf, Marilyn wandered the shops available in the old business section of Pinehurst and viewed the beautiful homes of the region.

While in the Smokey Mountains, I also got to play the beautiful Sequoyah National Golf Club in Cherokee, NC. Only one word can describe the views from this course, and that's ... WOW! I'm going to write a post regarding this course soon. I was just blown away by it ... and the great service I received while at the course.

Contact Mona Gersky & Leslie Rojohn at MoonDancer Realty, Dillsboro, NC to buy or sell your home/property!

But perhaps no experience or site was more beautiful or exhilarating than that of meeting 2 of my favorite ActiveRain members ... Mona Gersky and Leslie Rojohn from Moondancer Realty in Dillsboro, NC.

I had written Mona that I would be visiting her area ... and no sooner than she received my note, she was writing back and inviting my wife and I to the Open House that she and Leslie were hosting during the time of our stay.

These ladies were just wonderful to meet and visit with. I had the pleasure of watching both in action with clients and referral partners alike. It's no wonder they're so very successful at representing their clients and working with professionals from their area.

Both Mona and Leslie were just as I had imagined them to be from their posts on ActiveRain. Highly intelligent, warm, hard-working, caring, knowledgeable, great sense of humor ... I'd run out of adjectives describing them. They both sparkle.

For me, having the opportunity to meet and visit with these fellow Rain members was the highlight of my trip. And that's saying a lot ... given the competition they were up against of great golf courses, the beauty of the Smokey Mountains, and days-off from work!

Thank you again to Mona Gersky and Leslie Rojohn of Moondancer Realty of Dillsboro, NC, for their wonderful hospitality to myself and my wife ... and the opportunity to meet many of their clients and referral partners, and fantastic chili lunch. I look forward to returning the favor when they visit Chicagoland.

To all ActiveRain members I say ... don't ever miss the chance to meet fellow "Rain" members when you travel. You'll be glad you took advantage of the chance to do so. It's memorable.

And to those looking to buy or sell a home or property in the Dillsboro, Sylva, Cullowhee, Franklin, Bryson City, Maggie Valley, and Waynesville area of western North Carolina ... contact MoonDancer Realty ... (Tel: 828.631.0077) and talk to Mona Gersky or Leslie Rojohn. You can find no better ...

* In need of intelligent, professional mortgage service to purchase your dream home? Work with a mortgage lender with over 35 years of successful service to those needing mortgage financing. Contact me today!

I can be found through any of the following:

Direct: 815.277.4036 Cell/Text: 708.921.6331

Email: gmundt@thefederalsavingsbank.com

Website: www.genemundt.com

Conveniently Thru Skype: 630.219.1316

Click 4: A NO Cost NO Obligation

Mortgage Consultation

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Investing in Commercial Real Estate is as Easy as ... ABC

Kim McMahon, Executive Realty Group - North Chicagoland, IL (Contributing Writer): Posted on Tuesday, September 27, 2011 11:05 AM

Investing in Commercial Real Estate can be as easy as A-B-C.

Alright maybe not, but knowing your ABC’s can save you a lot of time and frustration. Certainly when your deciding what and where to invest.

Commercial properties are defined -or classified- by a letter system. While classifying can get a little fuzzy -let’s just say it’s subjective.

Here are some basics to get you started:

Building Classifications

Class A:

Are newer properties built within the last 15 years and have the most amenities, highest earning tenants, and typically demand the highest rents with little -if any- deferred maintenance. Usually owned by institutional investors -REITS- have the lowest cap rates, highest per unit prices and have the most potential for appreciation, but lowest cash flow starting out.

Class B:

Are generally 15-30 years old, have some amenities, have low deferred maintenance. Institutionally owned, or by high net worth individuals, have appreciation potential with decent cash flow from the beginning.

Class C:

Are 30+ years old with fewer amenities, have more deferred maintenance and higher cap rates and can have lower occupancy rates. Tenant base can include government subsidized tenants. Usually owned by private investors or investment groups. Provide higher cash flow and cap rates, but generally have lower appreciation.

Class D:

Are older buildings in challenging neighborhoods. Have no amenities and high deferred maintenance. Tenant base may require intensive management. These properties have double digit cap rates and little appreciation potential. While these buildings by the numbers may look like cash cows, collecting rents can be challenging and what is collected may be eaten up by deferred maintenance. These kinds of buildings are not suggested for the first time investor.

Neighborhood Classifications

The classifications for neighborhoods are very similar to the buildings and use the same A,B,C & D lettering system.

A- Newer growth areas

B- Older, stable areas

C- Older, stable or declining areas

D- Older, declining, potentially rapidly declining areas

Hopefully, this will help you both decide the what and where to invest in. It will also give you the ability to better describe to someone else what you want.

Contact Kim McMahon:

Kim McMahon Commercial Realtor Executive Realty, LLC (630) 306-1057 ...

www.investchicagonorthshore.com

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The Eviction Process - 7 Tips to Avoid Costly Mistakes

Guest Contributor, Kim McMahon of Executive Realty Group, LLC: Posted on Friday, August 19, 2011 12:13 PM

The Eviction Process

7 Tips to Avoid Costly Mistakes

Post Contributed by:

Kim McMahon

Commercial Realtor

Executive Realty Group, LLC

(630) 306-1057

www.investchicagnorthshore.com

Buying and Selling Apartment Buildings in:
Skokie, Evanston, Rogers Park, and the entire Chicago Area

I realize that most investors start out with a great plan and eviction probably wasn’t part of it. I know , buy a building at a great price, may do some minor repairs, find a decent tenant and sit back and collect the rent. … Right?

Evictions are one of the most frustrating and costly problems for a landlord to deal with and they unfortunately do happen.

The following are a few simple tips that may reduce the likelihood of an eviction and, ultimately, protect your cash flow: (And, get you back to collecting those rent checks.)

1. Maximize the number of applicants you get. You want to have multiple applications. Even if it means reducing the rent. Don’t put yourself in a position take an unqualified tenant just because your mortgage is due.

2. Be sure the application form is filled out properly and completely. If someone shows up with two months rent in cash and a half filled out application. RUN !!!!

3. The screening process should be used to the fullest. Background checks and credit reports, although in today’s economy many may have a nightmare credit report. It will, however, prove their identity. It will also show if they’ve had a recent (one time) financial set back or a long term aversion to paying bills…… Any Bills!!

4. Employment verification: Don’t just take check stubs or W-2’s. Actually call their employer. Hey! A lender would if they were buying the place.

5. Always, always, always put everyone over the age of 18 on the lease, who will be living in the apartment.

6. Make sure you have a strong lease. If your not sure contact your Attorney. Be sure to include a form stating they have read and understood the lease and everything that is expected. This could eliminate the “I Dun’t Knooowwww” defense later on.

7. Be sure to respond to Tenant issues in a timely manner. Happy Tenants pay their rent and take care of your investment.

That should be a good start for a successful investment Property.

If you have any questions on your current properties or are looking to expand your portfolio, Contact Me, Kim McMahon, or give me a call @ (630) 306-1057.

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Rental Properties and Investments

Playing in the Rain in North Carolina ...

Investing in Commercial Real Estate is as Easy as ... ABC

The Eviction Process - 7 Tips to Avoid Costly Mistakes