All Signs Point To The Facchine Group!!!!
ERNIE L. FACCHINE III
The Facchine Group
Coldwell Banker Preferred
1207 Fayette Street Conshohocken, PA 19428
Office: 610.828.9558
Cell: 610.721.7599
E Fax 215.558.1108
efacchine@thefacchinegroup.com
http://www.thefacchinegroup.com
http://www.thefacchinegroup.org
We have a great listing coming to the Market tucked back into the hills on Gypsy Lane….
Stay Tuned!
Ernie Facchine III
The Facchine Group
Coldwell Banker Preferred Conshohocken
1207 Fayette Street
Conshohocken, PA 19428
O 610-825-9558
C 610-721-7599
F 215-558-1108
efacchine@thefacchinegroup.com
http://www.thefacchinegroup.com
http://www.thefacchinegroup.org
http://www.facchinegroup.com
I was blown away today when I met Jon (www.jonbandish.com) today and he revealed my long awaited logo painting. I had very high expectations to say the least… But in no way had I set them high enough for what was presented to me. His explanation of the piece was just as intense as the colors and movements painted on the canvas. Had I known Jon’s talent as a painter was on the tip of the Iceberg I feel as if I would have sought him out a long time ago. I’d describe his skills but wordpress isn’t quite ready for the amount of words it would take to hit all points. I have Def. met some driven people in my life all of varied backgrounds and careers and Jon fits in right at the top of my list. I mean look at this…..
Check him out… You WILL NOT be disappointed.
ERNIE L. FACCHINE III
The Facchine Group
Coldwell Banker Preferred
1207 Fayette Street, Conshohocken, PA 19428
Office: 610.828.9558
Cell: 610.721.7599
E Fax 215.558.1108
efacchine@thefacchinegroup.com
http://www.thefacchinegroup.com
http://www.thefacchinegroup.org
Take Advantage…. Won’t last now that they look this GOOD!!!!
http://www.thefacchinegroup.com/?p=583
http://www.thefacchinegroup.com/?p=588
ERNIE L. FACCHINE III
The Facchine Group
1207 Fayette Street, Conshohocken, PA 19428
Office: 610.828.9558
Cell: 610.721.7599
E Fax 215.558.1108
efacchine@thefacchinegroup.com
http://www.thefacchinegroup.com
http://www.thefacchinegroup.org
Every Investment Property buyer always goes into the purchase with the highest of expectations. It is so important to remember that your real work begins after you purchase the property. Your expectations will go unfulfilled unless you stick to your game plan while adapting to up to the minute needs as then reveal themselves. I found a list in a book that I read from time to time to keep my brain refreshed and focused on being an proactive property manager.
TOP TEN PITFALLS ALL LANDLORDS FACE
Courtesy of Buy It, Rent It, Profit by Bryan M. Chavis
I could go on for days to elaborate these items as they are the main reasons why you will find distressed property, bank owned property and or value add property. Mismanaged properties are my favorite as the property is situated and ready to pay out but the current owner doesn’t have the tools to produce. I enjoy stepping in and making the necessary tweaks to turn the property into a cash machine rather than a burden and money pit. Be selective as to what you purchase and always consult a professional prior to making any purchases… We know a good one….
ERNIE L. FACCHINE III
The Facchine Group
Coldwell Banker Preferred
1207 Fayette Street, Conshohocken, PA 19428
Office: 610.828.9558
Cell: 610.721.7599
E Fax 215.558.1108
efacchine@thefacchinegroup.com
http://www.thefacchinegroup.com
http://www.thefacchinegroup.org
Thank Your Future Landlord For Making This SOOOO Affordable…..
Everyone I know that gets or already has the Real Estate Landlord Itch at one point or another inspires to own their first Multifamily Apartment Building. Purchasing a building is one thing but, successfully purchasing a building are two totally different principals. While adding multiple units to your portfolio with one purchase can be very tempting make sure you DO YOUR HOMEWORK! The last thing you want to do is jeopardize all the hard work, effort and equity you have already put in operation.
While there are a million different mindsets and theories when it comes to purchasing Real Estate one truth always stands alone… If it hasn’t done it in the past why could it be done in the future. A very very very wise (and successful) Real Estate Investor taught me it is possible to change the future of certain properties if you do your research. Just because you wake up and believe you can do it isn’t good enough here… Be sure to ask yourself WHY can I do it??? Changing your mindset is one thing… Changing others mindsets are a totally different blog! FYI… An acceptable answer here isn’t “Because I am ME”.
Use the basics and don’t over think things when it comes to purchasing and repositioning a property.
Without giving all of the answers to the test here are a few things I look for/require answers to before placing any hard money on a deal.
How honest, willing and able are the sellers (This judgment skill will come with experience in deals)
What does the Seller stand to gain from the sale of this property
Find the true reason this property is for sale
What is the sellers timeline… Can it be extended?
What are the sale comps
I put together a rental growth forecast based on occupancy trends, dates current leases expire and how much rental growth is necessary to get to my exit sale number.
VACANCY!!!!! If a property has had 100% occupancy for ten years then the current owner is not maximizing his investment. Is it a stable investment yes but it can’t be producing as much income as possible.
AUDIT THE LEASES CAREFULLY… Check the Leases for accuracy, ask for bank statements that show the rent checks match the monthly rents and ask for a current rent-roll every month that you are in the buying process. Stay on top of this as if you don’t this can cause a serious mess when you take over!!!
Make sure to realize the security deposits… they will at one point become a liability on your end. MAKE SURE TO CAPTURE THEM AT SETTLEMENT THEN ESTABLISH AN ESCROW ACCOUNT SHORTLY THERE AFTER.
Looking for additional information on this process, contact Ernie L. Facchine at the The Facchine Group for your Multi Family needs.
www.thefacchinegroup.com www.thefacchinegroup.org www.facebook.com/thefacchinegroup @facchinegroup (twitter) efacchine@thefacchinegroup.com
Touring/Showing homes with a client should be fun, stress free and most importantly a fact finding mission especially the first time out. It is natural for your client to feel a bit taken back by poking and peeking through others home. It is obviously my job to do everything I can to make sure they feel as if they are welcomed and should take their time and try to picture their family growing there. Every website, magazine and or periodical says the same thing within the first paragraph… SELLERS CLEAN UP AND DE-CLUTTER your homes, there is nothing more disappointing then seeing potential in a home masked with personal clutter. While as a Agent, Builder, Renovator, and or Speculator I can see through mounds of unnecessary to find the necessary. Some families buy one house and stay there forever while others go through a few but that’s it!!! So seeing potential is a bit more difficult when you are not in the trenches daily. We had the pleasure to be accepted to show five homes yesterday.
Of those five homes….
Now I do understand a strong agent pushes their sellers to the limit when it comes to showings, pricing, availability and so on. So I am not pointing any fingers here but I have a new appreciation of show ready from yesterday!!!
Take full advantage of this opportunity to own both sides of this Investment Property.
ERNIE L. FACCHINE III
The Facchine Group
1207 Fayette Street, Conshohocken, PA 19428
Office: 610.828.9558
Cell: 610.721.7599
E Fax 215.558.1108
efacchine@thefacchinegroup.com
www.thefacchinegroup.com
www.thefacchinegroup.org
YOU TUBE CMG BLOG
