Thursday, June 25, 2009

Using Color Psychology to Sell Your Home

Using Color Psychology to Sell Your Home.

When painting your home for resale, choosing the right colors can make a huge difference in your paycheck at closing. For instance, did you know that the exterior color of houses selling most quickly is a certain shade of yellow, but that choosing the wrong shade of yellow can kill a sale?
You'll find many brochures in paint stores, showing various combinations of exterior paint colors. But most people don't realize that most of those combinations actually include three colors, and not just two. Limiting your exterior paint scheme to just two colors also limits your income potential.
For a fast sale, think fun colors and go for a third, or even a fourth, exterior color. Think "Disneyland Main Street," where every shop is painted in glorious multi-colors. Adding more colors will also add definition to the various architectural details of your home. Use gloss or semi-gloss paint on wood trim.

The Psychology of Exterior Colors
When choosing exterior colors, take the sales price of your home into account. Certain colors, especially muted, complex shades, attract wealthy or highly-educated buyers, whereas buyers with less income or less education generally prefer simpler colors. A complex color contains tints of gray or brown, and usually requires more than one word to describe, such as "sage green," as opposed to "green."
On the other hand, simple colors are straightforward and pure. Generally, houses in the lower price range sell faster and for higher prices when painted in simple colors like yellow or tan, accented by white, blue, or green trim.
The Psychology of Interior Colors
Using colored, rather than bland, white walls will increase your profit potential. Lynette Jennings tested the perception of room size and color, and discovered that a room painted white appeared only appeared larger to a few people when compared to an identical room painted in color – and the perceived difference was only about six inches! Most people also look better when surrounded by color, and feel happier, and since buyers pick houses that make them feel happy, that knowledge can put dollars in your pocket at closing!
Entryways should bring the exterior colors into the house. Repeating shades of the exterior throughout your home will make the entire home seem to be in harmony. Living and family rooms painted in a slightly lighter shade of the exterior color will ensure that you've picked a color your buyers like, because if they didn't like your exterior colors, they wouldn't have bothered to look inside.
If they loved the exterior colors, they'll love the interior, too.
When choosing interior colors, consider the use of each room. For instance, kitchen and dining areas that are painted in “food colors,” such as coffee browns, celery greens, and scrambled egg yellows, feel natural.
Since, deeper shades of color imply intimacy and serenity, I like to paint master bedrooms a medium shade of green or blue for warm selling seasons, and rouge red for cooler weather. Other bedrooms can be painted in creamy tones of green, blue, or a pale shell pink.
Selling Season
Always consider your selling season (the time of year you'll be marketing your home) and climate when choosing colors. Estimate the amount of time you'll need to get your home ready for sale, and then add on extra days for unexpected delays. Use cool colors, such as blues, greens, and grays, to sell during spring and summer, and warm colors, such as yellows, reds, and maroons, when selling in the fall and winter.
Color Intensity
My husband and I usually use lighter colors when painting the exteriors of our investment dollhouses, because it makes them appear larger. On the other hand, our cabin in the woods looks richer when painted a darker color. When we decided to have it painted, I considered the usual cabin colors of dark brown and barn red, but fell in love with Olympic’s gorgeous "Gooseberry" plum color.

When getting ready to paint your house, look at the colors of neighboring houses and choose colors that harmonize, yet stand out from the crowd. Colors that clash badly with other houses will detract from the overall neighborhood.
At the beginning of the article, I told you that homes with yellow exteriors sell the quickest. But which shade of yellow sells best? First, the yellows to avoid: yellows with green undertones look sickly to most buyers, and yellows with orange undertones give buyers an impression of cheapness.
The best-selling yellow exterior color is actually a pale, sunny yellow, especially when complimented with one or more carefully-chosen accent colors. For instance, a semi-gloss white trim will give your home a clean and fresh look, and adding a third color, such as green, can make your home even more attractive to prospective buyers.
Colors affect human beings in many ways, and by using the principles of Color Psychology, you can make your home stand out from the competition, sell more quickly, and at a higher price.
(c) Copyright 2004, Jeanette J. Fisher. All rights reserved.

Wednesday, June 24, 2009

Apartment Buildings = Cash Flow for Years to Come by Mario Lopes.

My two partners and I raised $60,000 from a line of credit on one of the partners' homes back in 1998. In 1999, at the age of 25, we bought our first apartment building in with 27 units in almost new condition.
A year later, we took our cash flow and invested in an 11-unit foreclosure. (The first time we ever paid above asking!)
Another year later, we purchased a duplex, and then two years later in 2003, we purchased our first rehab, a 47-unit building with an elevator and parking garage using funds from refinancing the first three properties.
Because of rent controls in the area, if you do major renovations, you are allowed to raise the rent based on how much you spend.
So we raised the rents, and in 2006, we refinanced again and purchased a 71-unit building in need of rehab.

Now here is the icing on the cake: I began to research government grants or forgivable loans in our city and applied for these funds. In 2005/2006 we were able to get $800,000 in forgivable government loans.
We are expecting to have completed our latest project by spring 2007. So what has our hard work and research given us in return? Well, if all goes according to plan, we will have accumulated $8 million in properties, and a cash flow to provide for our families for many years to come.
This was all done in step-by-step plans, over a nine-year period. Our intentions were never to flip, but instead to invest in solid, well-built apartment blocks. Our goals are simple and extremely well thought out.
Our intentions are to accumulate a portfolio of about 200 suites, which we feel we can continue to manage ourselves, and continue to provide the level of service that we do to our tenants. Each apartment building is equipped with video security cameras that I can access through my laptop via the Internet from my home or almost any other location.
Not only does this provide security to the tenants, but allows us to keep on top of subcontractors and caretakers. The part I like best is that when I am showing prospective tenants the suites, the bad apples look elsewhere because they don't want to live in buildings with so much security. Plus, our buildings are all electrically heated, and tenants pays for their own heat and lights, phone, cable, etc... We only pay for water.
Our buildings are in excellent condition, which makes for little maintenance. We know all our tenants on a first-name basis, and they can all call us directly on our cell phones 24/7.
This has lead to an excellent relationship with our tenants, which then leads to very little turnover, and a 0% vacancy.
So we decided to approach our business in a safe, comfortable, workable manner. Each time we added another property, our relationship with our bankers grew, and now they are practically throwing money in our laps to invest in more property.

We have certainly come a long way, and with carefully planned future goals, we should be able to withstand any economic climate. It has been a hard and exciting journey. and the rewards are too numerous to mention.
Now it is time to give back, and we are thinking about establishing a scholarship program for our tenants and their children. This is just a small example of the numerous rewards, but this is how a small business like ours leaves a legacy that you just can't put a price on.
Thank you for reading and stay tuned for updates.

Tuesday, June 23, 2009

HUGE Profit on My First Rehab/Flip

HUGE Profit on My First Rehab/Flip
by Chris from NJ

In May 2006, I learned of a property for sale by friends of the family, and I asked what they were looking for. When they told me the price, $180,000, I said I would buy it without looking at it. Since I was familiar with the area, I knew this was a huge deal.

There was a list of people who wanted this property, and I was second on the list. I kept in touch, and the #1 person backed out, so in November, I purchased a single-family home in my home town for $180,000, which was well below market value.

I used a credit line from my primary residence for the down payment, and financed a private loan for the full purchase price at a interest only rate of 6% with one point and a balloon payment at one year.
I received $12,000 back at closing and used that for expenses. I ended up putting $21,000 in updates and had my open house two months later.
I presently have a contract in place with a closing date of October 4th for $290,000. I'll make a profit of roughly $60,000 after fix up and all associated fees.
I know how lucky I was to find a property in this market with such a nice margin and do not expect to run into many deals as great as this one.
But it is definitely a nice way to start!

Saturday, June 13, 2009

Aruba information

Aruba is a Caribbean island 15 miles north of the coast of Venezuela. With an area of approximately 70 sq. miles (184 sq. km) this flat, riverless island is renowned for its white sand beaches.Because of its location south in the Caribbean there is very strong sun, but a light breeze keeps the temperature pleasant and almost constant at about 27°C (81°F).
From the tourist point of view, Aruba can be considered to be divided into the southeast and northwest coasts. The southeast has the white sand beaches, turquoise seas, and warm waters. The northwest coast, exposed to the Atlantic, has a few white sand beaches, rough seas with treacherous currents and rocky coastline.
With beautiful weather all year round and turquoise Caribbean waters the best thing to do in Aruba is to enjoy the sunshine on one of the many beaches:
Baby Beach - Southern Tip of the island. It’s called Baby Beach because it is no more than five feet deep at any point - like a giant wading pool. This beach also has some of the best snorkeling on the island.
Eagle Beach - Often called “1 of the 10 best beaches in the world”
Hadikurari Beach (a.k.a Fisherman’s Huts) - This is where the High Winds Pro AM windsurfing world championship is held every June.
Palm Beach - White sand and excellent swimming conditions in calm water. Nearby hotels allow you to use public areas for changing. Accessible by bus, car or taxi.
Malmok Beach - Shallow water and lots of fish make this another good choice for snorkeling. There are no nearby facilities. The place is accessible by car or public bus.
Another tourist attractions in Aruba are:Natural Pool (Conchi) - This is a small pool of water hidden in natural rock formation that jut into the ocean, just off the shore of Aruba. Located on the northern side of the island and only accessible via ATV or Trail Rated 4×4 this place is great for a day trip.
California Lighthouse - Many scenic views and also the location were you can access the dirt trails to travel down the northern shores of Aruba.
Aruba Aloe Factory. You can take a short tour and learn some interesting facts about aloe farming, production and uses.
Casibari Rock & Ayo Rock Formations,"You can climb and explore these formations, the tops of which provide a great view of the countryside.รข€¢ Natural Bridge at Boca Andicuri.
There are 7 “Natural Bridges” in Aruba. The original (biggest and most famous bridge that people are referring to when they say Natural Bridge) collapsed in 2005 leaving a pile of rubble in the bay.
Bushiribban Gold Mill / Smelting Station. The ruins of the smelting station are the way to the Natural Bridge. Climbing the ruins you can get great photos of the coastline.
Aruba Ostrich Farm. The tour walks you around the ostrich pens and incubator. The Aruba farm is more for educating people, while the meat that is used for food in Aruba actually comes from the sister island of Curacao. (Ostrich is a red meat, which is high in protein and low in fat.)Arikok National Park - Approximately 20 percent of the island is comprised in this national park, an area of unique scenic beauty. Here are also located the Tunnel of Love and Guadirikiri. Hooiberg (Haystack Mountain) a.k.a simply “the Haystack” Standing over 500 feet, the haystack is in the center of the country and provides a breathtaking view of Aruba. People suggest going on a cool and clear day because it will be easier to climb the 1000+ steps required to reach the top and you can see the coast of Venezuela to the south!
Renaissance Island - A private island accessible by ferry only if you stay at the Renaissance Resort and Casino. The island is divided into 2 beaches: Iguana Beach and Flamingo Beach. The Iguanas are fed on the dockside by Iguana Beach while the Flamingoes congregate on the other beach.
De Palm Island - A private island where you can snorkel in an underwater paradise, surrounded by coral formations and colorful fish.
Boca Catalina and the Antilla Shipwreck - These are 2 of the many sites snorkel tours will take you. The Antillla Shipwreck is the remains of a scuttled 400-foot German cargo ship that was anchored off of Aruba during WW2. It was thought that this ship was supplying German U-Boats in the Caribbean and after Holland was invaded in 1940, the captain was given notice to surrender the ship. Instead of surrendering the ship to the Dutch Marines the captain sunk the ship by blowing up the boilers. (The crew swam to shore, and were taken POW and shipped to Curacao.) The joke you will hear is “They did not want to surrender the cargo and they also wanted to provide future tourists with a site to see.” The remains are off of Malmok beach.
Butterfly Farm - A tropical garden teeming with butterflies from around the globe.
Bubali Bird Sanctuary - The home to more than 80 species of local and migratory birds.
Our Lady of Alto Visto Chapel

Friday, June 12, 2009


If you think no one cares you're alive, miss a couple of house payments

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