As summer has quickly arrived the question in almost everyone’s mind is going to be “what can I do to keep my energy bills down and save money?”   Here are some energy saving tips to remember as the temperatures start to rise along with your electric bill.

·         Keep your thermostat at 78 degrees when you are at home and 85 degrees when you are away, fans really help to circulate the air and cool down the room you are in. Recent research for Florida has shown a 12% increase for every degree below 78 that your thermostat is set at.

·         Keep your window blinds closed. One of the top places that the sun enters your house from is through your windows and while this won’t solve all your problems it will help you to keep the heat from entering your home through the windows

·         Eliminate wasted energy by turning off all the lights in unoccupied rooms, run appliances in off-peak hours or when the sun goes down and  when replacing appliance make sure your purchase Energy Star products as they can save up to 30 percent over standard models. If you own a pool try to shorten the operating time and have your pool running during off peak hours.  Many electronics such as televisions, laptops, printers, etc. are using up power even if they are turned off but still plugged in (you should either unplug them or turn off the power strip.

·         Replace A/C filters once a month which can save up to 5% off of your a/c bill, it is also recommended to have your a/c serviced once a year

·         Replace light bulbs around the house with Energy Star compact fluorescent light bulbs

·         Install low flow showerheads to help with the amount of water being used

·         Weather strip and caulk leaky windows and doors and cover all of your outlets

·         If your ceiling is not fully insulated consider insulating it to save 5-25%

·         If you are planning on replacing your windows, think about replacing them with Energy Star windows which can reduce cooling costs by 15%

·         Some of the worse and most expensive leaks can come from your toilet that makes that faint whiny sound.  Tightening the pipe under the tank might solve the problem or you could put food coloring in the toilet tank, if color shows up in the bowl without having to flush you have a leak.   Another toilet leak is what is called a “hung toilet” where the tank mechanism is caught from closing and filling up your tank and is continuously running.  Even if this is only happening every once in awhile it should be checked.  A “hung toilet” can pour out a gallon every 2 seconds resulting in a loss of 43,000 gallons per day.  In just a matter of days the loss can be at several hundred thousand gallons of water, 200,000 gallons would result along in a $244 charge.

·         Make sure the a/c unit outside is free of grass and other debris or else the heat will have nowhere to escape to which will inevitably lead to a larger bill.

If you do decide to start making some energy efficient improvements on your own house or any properties you are managing you might want to take into consideration the current tax rebate programs that the government is offering.

HOME ENERGY EFFICIENCY IMPROVEMENT TAX CREDITS
Consumers who purchase and install specific products, such as energy-efficient windows, insulation, doors, roofs, and heating and cooling equipment in existing homes can receive a tax credit for 30% of the cost, up to $1,500, for improvements “placed in service” starting January 1, 2009, through December 31, 2010.

RESIDENTIAL RENEWABLE ENERGY TAX CREDITS
Consumers who install solar energy systems (including solar water heating and solar electric systems), small wind systems, geothermal heat pumps, and residential fuel cell and microturbine systems can receive a 30% tax credit for systems placed in service before December 31, 2016

Flipping houses for profit has become one of the most popular ways to make money in the property market.  Whether you are completely renovating a house or doing some minor improvements the choices you make along the way could end in a large profit or a large loss. The key is to make the right choices along the way to ensure you achieve the profit you envisioned when purchasing your property.

1.       PURCHASE PR ICE IS WHERE YOUR PROFIT BEGINS

When considering purchasing a property you need to factor in the costs of all the repairs and renovations. Many times investor’s think they are getting such a great deal on a house but after they have finished paying for all the improvements and it’s time to sell their house there isn’t much profit left to be made.  Instead of jumping at what looks to be a great deal, you should first calculate what the total cost of improvements will be and add that onto the price of the house. At this point you will be able to see if you will be able to achieve the large profit you are looking for and possibly use the repair costs as a way to lower the purchase price of the property.

2.       HOMEOWNER’S INSPECTION CAN SAVE YOU THOUSANDS

Spending a few hundred dollars on an inspection can potentially save your investment.  As an investor you want to stay away from overly expensive repairs that visually won’t improve the home to potential buyers.  Roof replacement, foundation problems, plumbing replacement are just a few of these larger items that you may not be able to see but a homeowner’s inspection could.  If you avoided getting a homeowner’s inspection and a potential buyer does and finds all of the items wrong, the cost to repair will come out of your profit. This could ultimately result in little or no profit.  This could also be the cause of what seems like a bargain price. If it sounds too good to be true, it usually is. 

3.       DON’T SACRIFICE QUALITY

Although it may be very tempting to go the cheap route on renovating the house, it will show.  If you start to forgo the quality of work going into the house just so you can get the cheapest price it will be evident to buyers walking through your house.   Buyers will notice the poor craftsmanship that went into the house and this can result in buyers asking for a lower price to have the work redone or buyers will simply walk away and your house could end up on the market for months.  You can always look for bargains on the materials needed for the repairs but you should always use a licensed professional to do the work on the house.  The end result because of this will be evident to you and to the buyers and will get you a quicker sale and better price than if you had gone the cheap route.

4.       HIRE EXPERIENCED CONTRACTORS

When hiring contractors make sure you are hiring experienced people who will show up every day and get the job done.  You shouldn’t be paying everything up front and you need to make sure all the permits needed are properly secured. You want to avoid ending up with a contractor who takes too long to finish a job, every day work is being done is money out of your pocket.  You often hear of contractors who show up and get the job started with a bang tearing out carpet and walls but then disappear for months at a time making up excuses along the way and leaving you with a mess.  To make sure this does not happen and you don’t lose money because of this make sure you hire a reliable, experienced contractor with a good reputation.

5.       REALTORS

Before you even purchase the house you are going to flip you should be using a realtor until you sign the papers on the sale of the house.  An experienced realtor will understand the buying and selling market which is pivotal for what you are doing.  They will know the best areas and neighborhoods to look at not only for the best purchase price but also for the best selling price.  Having a realtor by your side means you will know about properties before they are even placed on the market which can give you the head start you need above your competition.  A realtor will get your house in the MLS system which ensures it will be seen by everyone and they will be actively marketing and advertising your property to get you the sale and profit you are looking for. 

1. The borrower/seller has experienced hardship.

2. The value is proven to be less than the amount needed to pay off all loans, encumbrances and real estate selling costs.

3. The loan is delinquent or in default.

To obtain approval from the borrower’s lender, a Short Sale Package must be submitted. The package will include information such as a “letter of hardship”. This letter should be hand written and no more than one page. Examples of hardship could be medical, job loss, business change, or marital status (divorce).

For a complete list of items required by most lenders for the Short Sale Package, please reply to this Blog Post.

Applied Contracting Services, Inc.

www.acscfl.com 

Jennifer Smith Interiors

3635 Goldenwood Lane

Oviedo, FL 32766

407-920-0021

Many people overlook the obvious - but savvy investors recognize that manufactured home communities are blue chip investments.  Unlike many businesses that have fluctuating incomes, retirement manufactured home communities have nearly recession proof incomes.

Know Your Market

The key is always knowing your market.  Florida retirees are a savvy bunch.  The are depression era children and they know how to save, and the understand value.  Retirement manufactured home communities offer great “lifestyle” values.  Sometimes referred to as “mobilehome parks” or parks offer a cohesive community with an activity magnet - the clubhouse.  Most parks have a social fabric that binds people together much tighter than a typical residential development.  These are key factors to the economic durability of this type of investment.

Knowledge Has Value

Like a beautifully cut many faceted diamond, manufactured home communities have a myriad of facts that an investor needs to know when they commit the resources necessary for a park acquisition.  Amicorp Properties and Brokers has three generations  of park construction, marketing and management of manufactured home communities.  Check out Amicorp.us for more information or talk to Leyvi Titcomb at 305-587-0640.

Shaun K. Rowell,   Sr. Mortgage ConsultantCentral Florida
American Mortgage Loan Services, L.L.C -FL
860 N SR 434, Suite 1005
Altamonte Springs,  Florida   32714
Phone (407) 331-4700 Facsimile (407) 331-4701