Monthly Archives: August 2018

#TaraMTG Tuesdays: Homebuying Tips For Unmarried Couples

DHREA 21/08/2018

(Every Tuesday we feature a blog from one of our fantastic affiliates, Tara Mortgage Services!)

 

Buying a home with a loved one is an exciting next step. However, home purchases between unmarried couples come with a few challenges. And since buying a home presents a significant financial investment and personal commitment, it’s important to know the challenges you may face before you sign on the dotted line.

Here are five things to plan for when buying a home as an unmarried couple.

Have an Honest Talk About Finances:

Even if you have already rented an apartment together and think you’re fairly familiar with your partner’s finances, it’s important to have a formal discussion about it. Make sure you talk about financial history, debt from credit cards, personal loans, school loans, or any other obligations.

 

FICO scores and income are other important details to know. Of course, if there are any financial factors that you kept private, this would be the time to share it. Once you begin the home loan application, all will come to light anyway –might as well be honest about it all now and start your home buying dreams on the right foot.

If it turns out that one of you has poor credit, as a couple, you may decide to work on repairing the credit before applying for a home loan. Likewise, as a couple, you might decide that the partner with good credit will apply on their own.

Decide How the House Payments will be Split:

You may already have a system in place for deciding who pays which bill. However, a mortgage payment may change that. Besides, the mortgage payment, you also need to decide how to split the down-payment and closing costs. There’s also emergency house repairs and ongoing maintenance to consider.

After deciding, you may want to consider writing a plan with a real estate attorney. This will help to keep things in order as well as and help make sure that each partner holds up to their homeownership commitment.

Some couples find it helpful to have a joint bank account dedicated to home-related expenses while keeping their other funds separate.

Know Your Homeownership Options:

Sharing the mortgage of the home does not automatically mean that each partner is on the title as well. Laws vary according to state but generally speaking, you’ll have three options when it comes to the title of the house.

  1. Joint Tenancy – Both partners own the property equally. In the case of death, the other partner inherits the other’s stake and owns the entire property.
  2. Tenancy In Common – Each own a specified percentage of the property. However, if something happens to one, the ownership interest transfer to whoever is specified in a living will or trust. If there is no will or trust, then goes to the next of kin — not the significant other.
  3. Sole Owner – It might make more sense for a single person to be on the title, especially if only one is on the mortgage. However, know that if you ’re paying for the home but aren’t listed on the title, it’s unlikely that you’ll able to deduct the mortgage interest on your taxes.

Consider the Future:

Where do you see yourself in 3-5 years? Think you’ll move for a job opportunity? What about starting a family –do you see yourself having kids soon? These changes can change everything and should be part of your decision-making process when buying a home. Typically, it takes about 5 years to build equity so you’ll want to discuss plans with your partner before deciding on a specific house.

Have a Plan B:

Unfortunately, sometimes things don’t turn out as you hope, and owning a home as a couple when you’re not a couple any longer can present some challenges We recommend drawing up a partnership agreement, similar to a prenup, to detail what happens to the home in the event of a split.

Remember, there are no legal protections between home purchases between unmarried couples. Avoid or at least minimize risk to each of you as a couple by going into the home purchase with a written agreement.

Despite the additional challenges, buying a home as a couple is an excellent investment for both of your futures! With some preparation and honest discussion, you and your partner will be prepared to take this next exciting step.

Whether married or unmarried, the home buying process begins the same way –getting pre-approved! Apply securely and quickly using our online application, and contact our office for more live assistance in buying a home as a couple.

 

Be the 500th Real Estate Professional to join Alex Deacon’s Networking Workshop group on MeetUp.com! Click the box below!

Alex Deacon Real Estate Networking Workshops

Carnegie, PA
489 Members

Learn investing from a local expert with a vast amount of experience in the Pittsburgh market. Alex started investing in 1993. We will review hands on examples, analysis, and …

Check out this Meetup Group →

Visit our affiliates!

MACE Property Management: www.PittsburghPropertyManagement.com

Tara Mortgage Services, LLC: www.Tara-MTG.net

HDH Settlement Services, LLC: www.HDHTitle.com

Burkhead Insurance Services: Burkhead.Insure

Bin There Dump That: www.PittsburghDumpsterRental.com

 

 

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DHRE DIY CORNER: It’s Never Too Early To Prepare For Fall

DHREA 20/08/2018

Japanese Maple Leaves

 

With spring cleaning far behind, and summer fun all but over, it’s time to start fall home maintenance and prepare for the autumn wind.  Fall is the perfect time to perform important maintenance to your home so you’re not caught in the middle of winter with a drafty house or a malfunctioning heater. Here’s some tips to help your home stay warm and comfortable into winter.

 

1. Chimney and Fireplace

Chimneys and fireplaces cause some of the most expensive damage to homes. Build-up from creosote can easily ignite, causing a devastating fire. If you are unfamiliar with inspecting a chimney, it may be worth calling in a chimney sweep, which is usually quite affordable. Make sure to leave your flu closed when not in use, and always have a fireplace screen in front of open flames to protect your home from wayward sparks.

2. Windows

Windows may be a continual source of frustration for homeowners. There are many seal repair kits available at local hardware stores. Walk around the interior windows, placing your hand near the seal. Check for any breezes flowing through. Do the same process for doors. When you find one, mark it with a sticker or other indicator so you can tally how many repair kits you need. If a window is improperly sized, cracked, or broken, it needs to be replaced.For doors, you can purchase draft preventers and other seal kits to improve the seal. Every 1/8 of an inch can lower a room a whole degree, so it can really pay off to have updated, well-sealed doors and windows.

3. Smoke Detectors, Fire Extinguishers, and First Aid Kits

Every six months, replace batteries in all the detectors in your home. Check the expiration dates on your first aid kit and fire extinguisher, and that each is up to date and in a convenient place. If you don’t have a fire escape route, this is a good time to draft one. (I know, I know…but it’s better to be safe than sorry. 🙂 )

4. Indoor Pipes

Winterizing pipes is one of the easiest, most valuable ways to protect your home over the winter. Most home repair stores carry fitted insulation that can easily wrap around any size pipe. If you can’t afford to do every pipe in your home, give priority to the pipes that are closest to the outdoors, or most likely to freeze. It’s also a good idea to shut off water to any area that won’t be used, and to check pipes for leaks or cracks that may grow larger with the varying temperatures of fall.

5. Yard Maintenance

Fall leaves may be beautiful, but these can slowly rot, causing huge backup and damage in gutters. This backup will cause water to spill over the gutter and into your yard and walking areas, which can cause damage to your home and make walking conditions dangerous. Disconnect all garden hoses, and store them coiled and flat in a cool, dry place. If possible, turn of water to all outside faucets and drain them to protect the outside pipes from damage. Also, store any outdoor furniture that may become damaged from snow or ice.

6. Roof Inspection

A roof inspection may seem overkill, but harsh winter winds and heavy snow can take a toll on your home. It may be a good idea go up to your rooftop to check for any broken tiles or cracks. It’s important to take care of any damage now to avoid repairs during the cold winter months.

7. Stock Up on Winter Supplies for Your Home

Before prices on winter gear soars, stock up on winter items such as snow shovels, firewood, or sidewalk salt. It’s better to have the supplies now than to have to run to the store during a snowstorm!These fall home maintenance tips are quick, easy, and affordable. It might be a good idea to brush up on home repair insurance coverage as you’re making improvements and renovations. As the adage says, an ounce of prevention is worth a pound of cure…especially when it comes to home repairs.

 

Connect with nearly 500 other real estate investors and professionals! Join Alex Deacon’s Real Estate Networking Workshop group on MeetUp.com today. Click the box below!

Alex Deacon Real Estate Networking Workshops

Carnegie, PA
489 Members

Learn investing from a local expert with a vast amount of experience in the Pittsburgh market. Alex started investing in 1993. We will review hands on examples, analysis, and …

Check out this Meetup Group →

Visit our affiliates!

MACE Property Management: www.PittsburghPropertyManagement.com

Tara Mortgage Services, LLC: www.Tara-MTG.net

HDH Settlement Services, LLC: www.HDHTitle.com

Burkhead Insurance Services: Burkhead.Insure

Bin There Dump That: www.PittsburghDumpsterRental.com

 

 

 

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The Realtor Nation Real Estate Podcast: Ian Hoover sits down with Mike Pastor

DHREA 17/08/2018

 

The long awaited return of The Realtor Nation Real Estate Agent Podcast with Ian Hoover is back! In this terrific episode, Ian sits down with Mike Pastor, the Operations Manager of The Property Whiz in Pittsburgh, PA! Focusing on wholesale deals, single rehab projects, and multi-family and commercial rental properties, Ian and Mike use their years of experience to deliver a highly informative conversation you won’t want to miss!

 

 

Don’t be left on the outside looking in! Join Alex Deacon’s HUGE Real Estate Workshop group today!

Alex Deacon Real Estate Networking Workshops

Carnegie, PA
488 Members

Learn investing from a local expert with a vast amount of experience in the Pittsburgh market. Alex started investing in 1993. We will review hands on examples, analysis, and …

Check out this Meetup Group →

Visit our affiliates!

MACE Property Management: www.PittsburghPropertyManagement.com

Tara Mortgage Services, LLC: www.Tara-MTG.net

HDH Settlement Services, LLC: www.HDHTitle.com

Burkhead Insurance Services: Burkhead.Insure

Bin There Dump That: www.PittsburghDumpsterRental.com

 

 

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Real Estate Investing w/ Alex Deacon: The Magic of Appreciation

DHREA 16/08/2018

 

We all love appreciation, but do we love the right appreciation? In this segment, Alex Deacon breaks down the magic of financial appreciation and compound interest. So get your notepads out and get ready to do some math! “The Deacon of Real Estate” is ready to crunch numbers and help show you where appreciation really matters!

 

Join Alex Deacon’s Real Estate Networking Workshop on Meetup.com! We’re almost at 500 professionals!!!

Alex Deacon Real Estate Networking Workshops

Carnegie, PA
488 Members

Learn investing from a local expert with a vast amount of experience in the Pittsburgh market. Alex started investing in 1993. We will review hands on examples, analysis, and …

Check out this Meetup Group →

 

Visit our affiliates!

MACE Property Management: www.PittsburghPropertyManagement.com

Tara Mortgage Services, LLC: www.Tara-MTG.net

HDH Settlement Services, LLC: www.HDHTitle.com

Burkhead Insurance Services: Burkhead.Insure

Bin There Dump That: www.PittsburghDumpsterRental.com

 

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Real Estate Investing w/ Alex Deacon: Don’t Worry…The Market WILL Crash!

DHREA 14/08/2018

 

In this segment, Alex Deacon discusses the rumored market crash that has real estate professionals buzzing. But, just as the saying goes, “opinions are like you know what, and rumors can be the same.” Or…something like that. 😉

However, Alex does see some parallels to the 2008 crash. Rather than speculate, “The Deacon of Real Estate” explains why a crash wouldn’t necessarily be the worst thing, if you know how to position yourself correctly. You won’t want to miss this highly informative session!

 

 

Network with Alex and nearly 500 other real estate professionals! Join Alex Deacon’s Real Estate Networking Workshops group on MeetUp.com today!

Alex Deacon Real Estate Networking Workshops

Carnegie, PA
487 Members

Learn investing from a local expert with a vast amount of experience in the Pittsburgh market. Alex started investing in 1993. We will review hands on examples, analysis, and …

Check out this Meetup Group →

Visit our affiliates!

MACE Property Management: www.PittsburghPropertyManagement.com

Tara Mortgage Services, LLC: www.Tara-MTG.net

HDH Settlement Services, LLC: www.HDHTitle.com

Burkhead Insurance Services: Burkhead.Insure

Bin There Dump That: www.PittsburghDumpsterRental.com

 

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#TaraMTG Tuesdays: The Secret to Renovating with a VA Loan

DHREA 14/08/2018

(Every Tuesday we feature a blog from one of our fantastic affiliates, Tara Mortgage Services!)

Did you know that there’s a VA loan specifically for home renovations? It’s true! With a VA Renovation Loan, you can use up to $35,000 to pay for home improvements. Also called a VA Rehab Loan, this an additional loan you would get at the time of purchase.

Wondering where that $35,000 amount comes from? The 35k is just about 25% of the total entitlement that veterans receive with a VA loan.

How does a VA Renovation Loan work?

A VA Renovation Loan is a second loan and is technically separate from your home loan. However, both loans will be lumped together so that you’ll have only one mortgage rate and one monthly mortgage payment.

How To Use a VA Renovation Loan

The goal of a VA Renovation Loan is to bring the home up to VA Home Loan standards. So while it won’t allow for a whole kitchen makeover, you can still do some major improvements.

You can use it to repair or replace the flooring. You can fix electrical systems, improve the plumbing, and even make some energy efficiency upgrades! However, if you’re looking to do a complete kitchen remodel, with new cabinets and maybe adding a center island with a granite countertop, you’ll need a different VA loan product for that.

Remodeling with a VA Cash-Out Refinance

With a VA Cash-Out Refinance, you can cash-out on your total equity. For example, if you have $33,000 in equity in your home, you can take out the entire $33,000. You could also choose to take out just a portion, say $20,000, to fund your kitchen remodel.

What’s more, if you plan it right, you could increase the value of your home with the remodel!

A VA Cash-Out isn’t limited to just home improvements either. You can use it for anything from buying a new car to taking a family vacation. Here’s another perk: you may be able to reduce your mortgage rate too!

Imagine being able to take out cash to remodel a bathroom, while increasing the value of your home, and still pay less per month on your mortgage! Of course, there’s no guarantee that all three of these perks will happen all at once, but with a VA Cash-Out Refinance, it’s not out of the question.

There are many more benefits awarded to current and retired military personnel, and their spouses through VA loans. Lower than average interest rates, zero downpayment options, and no mortgage insurance premiums are but a few. And when you combine it with a VA Renovation or Cash-Out Refinance, the advantages add up even more!

Not a veteran? We got you covered. Contact Tara Mortgage Services to learn more about special loan programs for first-time homebuyers, less-than-perfect-credit homebuyers, and investors too!

 

We’re nearing 500 Real Estate professionals in Alex Deacon’s Networking Workshop group in MeetUp.com! Click below for the latest updates on Alex’s September workshop!

Alex Deacon Real Estate Networking Workshops

Carnegie, PA
487 Members

Learn investing from a local expert with a vast amount of experience in the Pittsburgh market. Alex started investing in 1993. We will review hands on examples, analysis, and …

Check out this Meetup Group →

Visit our affiliates!

MACE Property Management: www.PittsburghPropertyManagement.com

Tara Mortgage Services, LLC: www.Tara-MTG.net

HDH Settlement Services, LLC: www.HDHTitle.com

Burkhead Insurance Services: Burkhead.Insure

Bin There Dump That: www.PittsburghDumpsterRental.com

 

 

 

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NEXT REAL ESTATE MEETUP IS THIS SATURDAY!

DHREA 09/08/2018

 

Bring your questions to this one. I like doing a lot of Q and A so we can all learn from our past and recent failures and successes. Lets keep each question brief and to the point so we can get though as many as possible and absorb as much quality information as possible. We will talk ROI, rehab numbers, vacancy percentages, management costs and a myriad of other topics concerning long term buy and hold.

Thank you for all your support and see you Saturday! We are nearly at 500 members so please invite others to join the site and bring them along with you!

 

Detailed Game plan from A-Z for your next Buy and Hold

Saturday, Aug 11, 2018, 10:00 AM

Hampton Inn Bridgeville
150 Old Pond Rd Bridgeville, pa

35 Members Attending

This is a great session for those who want to buy and hold. This will give you an idea of realistic expectations that you can count on for your current and your future investments. We will look at some of my current and past buy and hold properties and take a close look to see what mistakes and successes I had made and lets learn from those and com…

Check out this Meetup →

Visit our affiliates!

MACE Property Management: www.PittsburghPropertyManagement.com

Tara Mortgage Services, LLC: www.Tara-MTG.net

HDH Settlement Services, LLC: www.HDHTitle.com

Burkhead Insurance Services: Burkhead.Insure

Bin There Dump That: www.PittsburghDumpsterRental.com

 

 

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#TBT: Neal Peart debuts with RUSH in The Steel City!

DHREA 08/08/2018

NeilPeart

It’s no secret Pittsburgh loves Canadian rock legends Rush. The Rock n’ Roll Hall of Famers legacy in the Steel City runs much deeper than the deep rotation of classics played on WDVE, and all of us Yinzers holding a special place in our heart for the prog-rockers. However, few know that Pittsburgh holds a special place in the band’s heart as well. The man known as “The Professor”, Neal Peart, made his on-stage debut right here in the Steel City on August 14th, 1974! Rush, the Canadian trio, ranks only behind the Beatles and the Rolling Stones for most gold and platinum records, and in most circles, Peart is recognized as the greatest drummer of all time.

Contrary to popular belief, this wasn’t Rush’s first show in America. The band was part of a poorly attended Spring 1974 festival at the North Side Drive-In theater in East Lansing, Mich., and also opened for ZZ Top in Cleveland in June 1974. But this concert did take place in front of a huge crowd: 12,000 people at the Civic Arena, according to contemporary reviews.

“It was really kind of a scary thing, opening up with a new person in the band in front of so many people,” vocalist Geddy Lee recalled during a rare October 1974 interview recorded in Dallas. He also noted the show was “kind of a freakout.”

This Pittsburgh concert was a short, low-key opening slot for Manfred Mann’s Earth Band and Uriah Heep. (The trio isn’t even listed on an ad promoting the show.) The band reportedly opened with “Finding My Way.” Poor-quality audio of the song doesn’t seem to betray the band’s nerves, although it does give a nice snapshot of Lee’s astonishing vocal range and Peart’s already-ferocious style.

Reviews were mixed, according to scans hosted on the Rush fan site Power Windows. A Pittsburgh Press writer stressed that the city prefers “heavy, slam-bang rock,” and so seemed to approve of the set: “Somebody must have wised up the opening acts, too, because that’s all Rush, a promising Canadian trio, offered,” before specifically praising “Working Man.” The Valley News Dispatch was less enthused, and simply noted that Rush “rocked in the preliminary.”

The Pittsburgh show served as the kickoff for a months-long North American tour that also found Rush opening for Kiss, Blue Oyster Cult and Hawkwind. Effectively, it also started the band on a transformative, 40+ year journey.

“Among the many memories of that life-changing experience, I would never forget standing on the floor beside stage left while Uriah Heep played ‘Stealin’,’” Peart recalled in Roadshow: Landscape with Drums: A Concert Tour by Motorcycle. “The big dark building, colored lights on the heroic figures up on the stage, the roaring audience, the sheet electricity in that place. Halfway through their show, the retractable dome of the Civic Arena had peeled back, open to the summer night.”

Forced to retire due to chronic tendinitis and shoulder issues, Peart was a one of a kind talent, in a one of a kind band…that debuted in a one of a kind city! Thanks for the memories, Professor!

 

 

Alex Deacon’s FREE Real Estate Networking Workshop is almost full! RSVP and secure your spot today!

Detailed Game plan from A-Z for your next Buy and Hold

Saturday, Aug 11, 2018, 10:00 AM

Hampton Inn Bridgeville
150 Old Pond Rd Bridgeville, pa

34 Members Attending

This is a great session for those who want to buy and hold. This will give you an idea of realistic expectations that you can count on for your current and your future investments. We will look at some of my current and past buy and hold properties and take a close look to see what mistakes and successes I had made and lets learn from those and com…

Check out this Meetup →

Visit our affiliates!

MACE Property Management: www.PittsburghPropertyManagement.com

Tara Mortgage Services, LLC: www.Tara-MTG.net

HDH Settlement Services, LLC: www.HDHTitle.com

Burkhead Insurance Services: Burkhead.Insure

Bin There Dump That: www.PittsburghDumpsterRental.com

 

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#LOCATION, LOCATION, LOCATION! 20-Unit Commercial Building in White Oak reduced!

DHREA 08/08/2018

 

Well maintained & updated 20 unit building with another unit waiting to be finished, this property has a great tenant track record and features some really nice commercial units overlooking a very busy street! This building is going to be a great addition to your portfolio!

Click here for full property details!

 

 

Time (and seating) is running out! RSVP to Alex Deacon’s Real Estate Workshop today!

Detailed Game plan from A-Z for your next Buy and Hold

Saturday, Aug 11, 2018, 10:00 AM

Hampton Inn Bridgeville
150 Old Pond Rd Bridgeville, pa

34 Members Attending

This is a great session for those who want to buy and hold. This will give you an idea of realistic expectations that you can count on for your current and your future investments. We will look at some of my current and past buy and hold properties and take a close look to see what mistakes and successes I had made and lets learn from those and com…

Check out this Meetup →

Visit our affiliates!

MACE Property Management: www.PittsburghPropertyManagement.com

Tara Mortgage Services, LLC: www.Tara-MTG.net

HDH Settlement Services, LLC: www.HDHTitle.com

Burkhead Insurance Services: Burkhead.Insure

Bin There Dump That: www.PittsburghDumpsterRental.com

 

 

 

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#Reduced: Beautiful Remodeled Brick Home at 423 Woodrift!

DHREA 07/08/2018

 

Come home to this newly remodeled four bedroom two full bathroom brick cape tucked into a quiet, wooded enclave in the heart of green and lush Pleasant Hills. Brand new white shaker kitchen with premium granite, stainless Samsung appliances and crown molded cabinets. New interior and exterior doors, paint and trim. Perfectly refinished hardwood floors. Brand new roof. Extra large lot. Walking distance to the arboretum. Expansive tree lined backyard and a wonderful neighborhood with a community feeling.

 

Click here for full property details on this 4 bedroom beauty!

 

SEATING IS LIMITED! Reserve your spot today!

Detailed Game plan from A-Z for your next Buy and Hold

Saturday, Aug 11, 2018, 10:00 AM

Hampton Inn Bridgeville
150 Old Pond Rd Bridgeville, pa

34 Members Attending

This is a great session for those who want to buy and hold. This will give you an idea of realistic expectations that you can count on for your current and your future investments. We will look at some of my current and past buy and hold properties and take a close look to see what mistakes and successes I had made and lets learn from those and com…

Check out this Meetup →

Visit our affiliates!

MACE Property Management: www.PittsburghPropertyManagement.com

Tara Mortgage Services, LLC: www.Tara-MTG.net

HDH Settlement Services, LLC: www.HDHTitle.com

Burkhead Insurance Services: Burkhead.Insure

Bin There Dump That: www.PittsburghDumpsterRental.com

 

Read More