Zillow Buys Hot Pads for Cool 16 Million Cash

Zillow just announced that it has acquired HotPads, the San Francisco-based rental and real estate search site for $16 million in cash. 

 

According to the Tech Crunch article, Zillow plans to create one single database for rentals that will be available on Zillow, HotPads and the company’s other properties. HotPads, will continue to exist as its own brand and Zillow will commit additional engineering resources to help the company grow.

 

Between Zillow Rentals and HotPads, Zillow CEO Spencer Rascoff  expects the company can now offer a rental marketplace at scale – something that wasn’t previously available to users in the highly fragmented rental market. For Zillow, this is also an opportunity to build a relationship with a younger audience – the kind that’s shopping for a first rental but not ready to buy yet. Once they get to the point where they are looking to buy, they will hopefully come back to the Zillow brand.

 

What does this mean to Showcase Property Management? I believe Zillow and HotPads will provide our rentals even greater exposure in a rental market that just keeps expanding. Our investors rely on us to quickly place tenants in vacant properties. The more exposure we have the great chances we have of finding qualified tenants. 

Visit RentWithKaren.com to search for rentals in Brevard County, FL

Zillow Offers Guidelines: Investing in Real Estate

With all the short sales and foreclosures it makes it an ideal time to buy real estate. I came across an excellent post on Zillow, Investing? 6 Types of Properties to Pursue which offers solid advice on scoping out investment properties.

Leonard Baron says, “Too many people buy fixer-uppers thinking they’ll add value by doing a renovation. Then they get mired in a much more expensive and time consuming property than they ever expected. More money into the property means lower investment returns for you and less wealth-building than you expected.”

Investors get mesmerized by a “cheap price” however price is just one factor in the equation. Location, location, location is still very important, along with the rental demand. What about resale, will the property sale easy in the future?

Our Turnkey Operation was created to help investors purchase prime rental properties. Our rehab team can help with properties that need CPR, (Carpet, Paint, Repair). Once repairs are complete we put it on the market for rent.

Whether you’re a long time investor who wants to add to your existing portfolio, or a newbie venturing into investing in rental properties for the first time, contact me. I am confident you’ll be impressed with how easy we make it to invest in real estate.

Investors Provide Rental Properties for Growing Demand

Many of our investors who have properties managed with Showcase Property Management are purchasing short sales and foreclosures and not just expanding their portfolio but meeting the growing demands of the rental market. In many cases the owners are able to remain in their home and pay rent, less than the mortgage payment they could no longer afford to pay.
 
 
Investors located all across the United States receive emails with MLS Property Alerts that have short sales and foreclosures for sale in prime rental markets in Brevard County, FL. Each time a distressed property comes on the market they receive an email notification that provides an MLS report of property details and photos. The KGB sales team assists with obtaining the properties our investors choose to buy.

 

Our turn key team includes qualilty professionals who are quick to provide estimates for property inspections, flooring, window and door replacement, window treatments, pest control, plumbing, electrical work, lawn and landscaping, pool service and a host of other sevices to help transform properties, especially foreclosures that can need extensive work. The investor is made aware of problems and can determine cost to rectify issues. If the property needs extensive work, our rehab team gets it back in tip top shape to be a desirable home we manage and market to rent. We refer to this has our Investor Turnkey Program

If you're an investor who wants to expand you portfolio or you want to get started with obtaining investment properties, just complete the information below:

 

Owners with No Equity Refinance with HARP

Many of our owners at Showcase Property Management who are struggling with an upside down mortgage are ecstatic when they learn they may be able to refinance using HARP. My sales administrator, Agi Anderson has been working closely with Chris Brown who is with Certified Mortgage Planners. Chris is one of Florida’s leading experts on HARP, the Home Affordable Refinance Program, one of the only programs available to help investors struggling with mortgage distress. There are qualifications to be eligible for HARP, you must have a Fannie or Freddie backed loan. Watch the short video below and Chris Brown will explain how to check if your loan is Fannie or Freddie backed:

Our aim is to help owners with mortgage relief. If you don’t qualify for HARP and you think you may want to sell, just email me at kgblady@cfl.rr.com and I will have Agi Anderson get in touch touch to explain the short sale process.

Short Sales Expanding Rental Market

Properties selling short are attracting investors who have time to wait for the slow short sale process to complete. The folks coming out of a short sale need a place to live creating a drastic change in the demand for rentals.

The attraction for investors to buy short sales and foreclosures is the demand for rentals will remain strong for at least the next five years – if not longer.

What Will Happen After the Election

It will be interesting to see what will happen in 2013, after the election, after the next president of the USA makes the inauguration speech. Will the millions of foreclosures behind the scenes make their way back to the market?

The countless number of short sales are impacting real estate on the Space Coast in a number of ways.

For the folks facing foreclosure, there’s good news. Borrowers can stop the foreclosure process by selling their property in a short sale. The National Mortgage Settlement prohibits lenders from doing dual track foreclosures.

A borrower can bounce back from a short sale in a couple of years, verses the severe damage of a foreclosure, which remains on a credit report permanently.

At Showcase Property Management we have become much more accommodating with helping people obtain a rental property after a short sale, after all, it is the cause of the growing rental demand. We analyze credit history and advise owners to to review the hardship when evaluating prospective tenants.

The investors, well their banking on the fact that after the short sale, someone else selling short will need a place to live. They are assured a healthy rental market for quite a few years.

If your someone coming out of a short sale, or an investor looking to expand your portfolio, my team and I can help. Give me a call 321.394-7750

Why You Should Buy a Rental Property…

I came across this post, Why You Should Buy a Rental Property and when I read, “The best investments we’ve made are the ones no one else would touch.” I can see why David Ackman is hot on the Single Family Home Rental Property.  “They are cheap,” he says.  “They are a buy.” All I have to say is I agree 100%, properties are cheap in many areas of Brevard County as well as the entire state of Florida.

Now is the time for investors to scoop up these properties priced drastically below market value. My long time experience as a property manager not only helps investors determine where to buy for the best rate of return, but I am also able to provide the services of managing properties and help protect their values. By conducting regular inspections, my team and I are able to determine if the property is being maintained and to check for issues tenants may not even realize are problems.

With all of the short sales and foreclosures there is a growing need for rental properties. People coming out of distressed sales need a place to live. Most of these people make excellent tenants, they’re just victims of the economic disaster.

Why should you buy a rental property? Because the time is ripe to buy not one, but maybe two or three rental properties. When the market rallies back to stability selling them should produce a very nice profit.

 

Link to the article:

http://www.noradarealestate.com/blog/why-you-should-buy-a-rental-property/