You often hear the term “MLS” used by REALTORS® and on real estate sites.  What is it? Well, you can think of the Multiple Listing Service (MLS) as the online “catalog” for all local real estate listings.

Here’s how it works: When a new property is listed for sale with a REALTOR®, he or she gathers as much information as possible about the property, including photographs of the exterior and special features.  Now, the information is loaded into a local database that is available on the internet, usually for all real estate brokers who are members of the MLS system to use and display on their own sites.

Even before the advent of the internet, the MLS still existed.  Now it’s readily accessible to the general public.

About a half-century ago, the real estate industry began compiling and recording printed booklets of information about property offered for sale.  These books were disseminated bi-weekly and provided an invaluable resource to real estate agents, buyers, and sellers about the scope of real estate availability in their local area.

Thanks to the Internet, the cumbersome process of gathering data and reprinting it has been replaced by a more simplified process that enables information to be shared almost as soon as the ink is dry on the listing contract.  Also, as a result of the internet real estate offerings far from home can be considered with the click of a mouse.

With access to MLS listings available on the internet to almost all home buyers, visitors to the sites of local brokers have access to all homes represented by licensed agents in that area.  For Sale By Owner listings typically are not loaded into the MLS database, and get less exposure than broker represented listings.

Contact Infinity Realty Guam today for the real estate company that will provide quality service you deserve.  (Click here).

DISCLAIMER: This information is provided for general awareness only and is not intended for the purpose of providing legal, accounting, tax advice or consulting of any kind.  Please consult with a professional in their respective expertise for complete details.

The long term success of a rental property depends on the owner’s ability to attract and keep desirable long term tenants.  Here are few basic tips to help you:

• Maximize “curb appeal”. You have to “sell” the home to tenants just as you would to buyers.  Maintain the property exterior and landscaping.
• Keep a neutral color scheme. Carpet, tile, vinyl floors, and walls in neutral colors make it easy for prospective renters to imagine their furnishings in the home, apartment, or condo.
• Do more than keep the property in good repair and clean. Add extra amenities and conveniences such as a garbage disposal, self-cleaning oven, and refrigerator with an ice-maker.
• Provide basic lawn equipment and a tool kit to encourage upkeep of the property by the renter.
• Reward renter loyalty. Offer incentives to long-term renters such as paid cable TV, discounting rent when repairs are made by the tenant, and offering referral fees for sending prospects to your other rental properties.

Contact Infinity Realty Guam today for the real estate company that will provide quality service you deserve.  (Click here).

DISCLAIMER: This information is provided for general awareness only and is not intended for the purpose of providing legal, accounting, tax advice or consulting of any kind.  Please consult with a professional in their respective expertise for complete details.

If you’re serious about investing, then you need a real estate investment team.  Because of complex federal and local laws that protect both landlords and renters, it pays to have a stable of professionals you can call on for professional guidance as you make a real estate investment.  Here are some of the professionals you need to have on your team:

• A reliable real estate agent to help you find the right properties at the best possible price.
• A trusted attorney to keep rental legalities in order.
• A tax consultant to make sure you take advantage of real estate tax benefits and avoid negative tax implications.
• An insurance agent to cover your liabilities with the right type and right amount of rental property insurance.
• A Home Inspector to uncover any hidden defects that could undermine your investment.
• A banker to facilitate the lending process.
• Most IMPORTANTLY, a mentor.  Find someone who has a proven track record for investing in real estate.  You need someone who’s been there, done that.

To learn more, contact Infinity Realty Guam today and talk with one of our REALTORS® about opportunities for investment.  Our team are also real estate investors so they have first-hand knowledge when it comes to investing in properties.  Click here.

DISCLAIMER: This information is provided for general awareness only and is not intended for the purpose of providing legal, accounting, tax advice or consulting of any kind.  Please consult with a professional in their respective expertise for complete details.

If your rental property is a vacation home, your priorities will be somewhat different than if you are investing in long-term property rentals.

The key is finding a vacation property that is desirable to you as a personal vacation getaway and potential retirement home and one that is in a location that will draw a steady stream of short-term renters.

• When you’re buying, seek a REALTOR® who specializes in second home and vacation rental properties and knows the market.
• After you have purchased your vacation rental, take advantage of every possible source for marketing your vacation property: the internet, a listing agency, and print publications.  For instance, if your vacation rental condo is in Guam, attract the winter visitor market by advertising in publications in the Northern Asian countries or upper US to Canada.  If your property is a luxury home, you should consider advertising in magazines that attract an upscale readership.
• Make your rental stand out from the masses with special touches.  Short-term renters say some of their favorite touches include information on local attractions and activities, restaurant recommendations and menus and local discount coupons, a treat basket of snacks, and coffee and teas.
• Word of mouth fills many vacation rental properties.  Encourage repeat rentals and referrals.  Offer incentives like discounts, referral fees and off-season specials.

If you do not live near your rental property, you’ll need a local contact – preferably a property management company to handle rentals, clean-up and ongoing maintenance.  Depending on their services, they may also be able to refer potential renters, for a fee.  A local real estate company can help refer you to a reputable firm.

Short term vacation rentals offer many opportunities, but they do create special tax considerations.  Consult with a tax accountant in the location where your property is located about tax implications of short-term rentals.

Contact Infinity Realty Guam today for the real estate company that will provide quality service you deserve.  (Click here).

DISCLAIMER: This information is provided for general awareness only and is not intended for the purpose of providing legal, accounting, tax advice or consulting of any kind.  Please consult with a professional in their respective expertise for complete details.

As you search for rental property to buy, do your homework on the area, so you know average rental rates and whether rental demand is high.  Then as you make property visits:

• Determine if local regulations or community rules discourage renting
• Create a checklist of popular amenities for renters
• Carefully consider potential problems with locations you’re interested in
• Consider the likely renter market, and what they can afford
• Think about how you might promote a new rental property
• Get a pre-approved loan and have earnest money at hand.

It’s not uncommon for a rental property to sell before it is even advertised, so it pays to have a REALTOR® looking out for you who can seal the deal when the right property comes your way.

Contact Infinity Realty Guam today for the real estate company that will provide quality service you deserve.  (Click here).

DISCLAIMER: This information is provided for general awareness only and is not intended for the purpose of providing legal, accounting, tax advice or consulting of any kind.  Please consult with a professional in their respective expertise for complete details.

When investing in rental properties over the long haul, it makes sense to find a REALTOR® who wants to build a long-term relationship rather than simply making a quick sale.

Ask for recommendations from family, friends, or co-workers.  Call the agency and ask for an appointment with a REALTOR® who has been successful in the business for several years and will have the community connections you need.  Ask for references and contact clients who have previously purchased investment properties.

Trust your instincts.  If an REALTOR® is not willing to spend time understanding your needs or if he or she does not “bond” with you personally, look elsewhere.  It may be necessary to interview numerous REALTORS® before finding the right partner.

Contact Infinity Realty Guam today for the real estate company that will provide quality service you deserve.  (Click here).

DISCLAIMER: This information is provided for general awareness only and is not intended for the purpose of providing legal, accounting, tax advice or consulting of any kind.  Please consult with a professional in their respective expertise for complete details.

When you search for a Guam rental property, there are several qualities you should be looking for.  Here are a few major considerations:

• Think location. There’s an old real estate saying the three most important things to look for in real estate are location, location, location.  Look for rental investments in areas convenient to major employers, schools, shopping and public facilities.
• Consider the price carefully, and the amount of rent you can justifiably charge.  If you hope to charge more than the cost of the monthly mortgage, insurance and taxes on the home, you should be careful to invest no more per month than the local rental market can bear.  If your goal for rental income to “break even” or perhaps less as the property increases in resell value, price becomes somewhat less important.
• Think about future resale value. Properties in growing areas can rapidly increase in value, turning your rental property into a prime resale opportunity.  Investing in low growth areas can provide a steady stream of renters, without a major growth in equity.
• Consider the neighboring homes, and how well they are maintained.  Even one home on the block that is poorly cared for can drive down potential rental income.
• Look for properties with solid construction. Even the best tenant will be more likely to put wear and tear on a home than a home owner.  Try to find low-maintenance properties that will stand up to the wear and tear of renting.

You should also consider how active you can or want to be in the oversight and upkeep of your rental properties.  If you live nearby, it can be relatively simple to stay in touch with tenants, and to keep an eye on your investment.  If you lack the time, or your property is far away, you may wish to work with a property management company.

Contact Infinity Realty Guam today for the real estate company that will provide quality service you deserve.  (Click here).

DISCLAIMER: This information is provided for general awareness only and is not intended for the purpose of providing legal, accounting, tax advice or consulting of any kind.  Please consult with a professional in their respective expertise for complete details.

The internet has revolutionized the search for real estate investment opportunities, making it easier to find all kinds of properties for sale by owner (FSBO) and real estate agency listings.  Homes and multi-unit buildings for sale can be found on the internet, especially via the massive databases of a local Multiple Listing Service (MLS).

While this is a good place to start, a REALTOR® is often the best source of information for properties offering rental income potential.  Especially when you’re getting started, an experienced REALTOR® can be an advocate to streamline your search and purchase logistics, and keep an eye out for opportunities to resell the property for a healthy profit.

Contact Infinity Realty Guam today for the real estate company that will provide quality service you deserve.  (Click here).

DISCLAIMER: This information is provided for general awareness only and is not intended for the purpose of providing legal, accounting, tax advice or consulting of any kind.  Please consult with a professional in their respective expertise for complete details.

Be sure you know what you’re getting into when you invest in rental properties.  Here are a few questions to ask yourself:

• Where will you get the down payment for the property?
• Can you handle periods of vacancy, i.e. no income for mortgage payments?
• What about unexpected repairs and other expenses?
• Do you need property to rent immediately or do you have time and money for a “fixer-upper”?
• Do you have time and expertise to make renovations and repairs?
• What type of property do you want: single family, apartment, duplex, condominium, or commercial property?

Thinking it through ahead of time assures that you won’t get caught making a rash decision you will regret later.

Contact Infinity Realty Guam today for the real estate company that will provide quality service you deserve.  (Click here).

DISCLAIMER: This information is provided for general awareness only and is not intended for the purpose of providing legal, accounting, tax advice or consulting of any kind.  Please consult with a professional in their respective expertise for complete details.