Leiter Realty Group Knowledge Center

Follow the link to learn about they Key Aspects to Consider When Hiring a Property Manager:

How To Evaluate and Hire a Property Manager (pdf file)

This article is written for you so you avoid a common problem that can cost you thousands if not tens of thousands of dollars.  Even I, an experienced investor who has been around buying and selling properties for 12+ years, recently fell for this one.

It involves the “pre-approval” letter that mortgage brokers sometimes write for their clients.

You see, there has been a practice among unscrupulous mortgage brokers to write a pre-approval letter for their Real Estate Broker friend/client who refers a buyer to them.   This is done so the mortgage broker can get the business down the road.  They are more concerned in many cases with locking in the buyer to go with them than checking all the facts about their qualifications.  They know if they refuse to write the letter, they will just go to one of the thousands of other mortgage people out there.

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Take a look at these before renovation pictures before you watch the video:
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This video shows you how to  get the most bang for your buck when renovating an apartment.  I take you through this entire 2 bedroom coop apartment show you what to renovate and what not to, where to buy your materials and finishings and show you tips for how to do things that you may or may not know.  Read more…

The Process and Paperwork Needed To Rent an Apartment

Once you have found an apartment you like, you will want to put a deposit down (which is usually non-refundable if you change your mind so be sure you want it) so that you don’t lose the place to someone else.

Here is a list of items you will probably need, depending on the Landlord, in order to Rent an Apartment.  You want to get this paperwork together before you start searching too so that you will be prepared and have a better chance of getting the place you really want.

1.   A valid photo ID (driver’s license, passport or other US Government issued ID)
2.   A copy of the first two pages of last year’s tax return or W2 form.
3.   A copy of your last two pay stubs.
4.   A copy of your last two bank statements.
5.   A letter from your employer stating your salary, position and length of employment, on company letterhead.
6.      A copy of your real estate tax, school tax, water/ sewer bill, copy deed, or mortgage statement if you are a homeowner.

The Broker or Landlord will run a credit check for each applicant and there is usually a non-refundable fee for that, usually around $40 to $80 per person.

Of course, you will have to fill out a Lease Application additionally.

Some Landlord’s require 2 months security deposit.

The first month’s rent and security deposit should also be readily available since the money will be necessary at the time of the lease signing.

What if you don’t have income or have cash income and can’t document the amount you make?

If your income doesn’t equal 40x the monthly rent being charged (and it has to be documented income), then you will need a Guarantor.

The Guarantor (your mother or father or other family member usually) will also need to provide the above paperwork and must make 80 times the monthly rent.

If you know up front that you can’t document the required income, then it is best to gather all the information up front and have it ready to go so that you can jump on the place that you want.

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How to Sell Your Home For a Good Price in a Buyer’s Market

So how do you sell your home when market forces are against you?  There are a lot of properties for sale, and Buyers know it and they want a deal.

This presents a problem for a seller, but it’s not the end of the world and you can still get a good price by marketing your property correctly.

First thing we have to do is accept that the Bull Market in Real Estate is over.

You need to be realistic and accept this fact.  That being said, we can still do things to get a good price.

Ask yourself this and do the research to answer these following questions.
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Here is 10 min audio describing exactly what you should ask a broker before you sign an agreement to sell your property.  You MUST listen to this prior to signing with any broker or risk wasting your time and money.

5 Things You Must Ask A Broker-Audio Access Here

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If you are renting an apartment, and you don’t have the documented income that equals 40-50x the monthly rent, you may require a guarantor form.  This form (attached) must be notarized and an original copy must be provided to the Landlord.

Click here to download:    Guaranty of Payment and Performance Form Read more…

That question is answered in the attached PDF file.

Click here to download:  A Timeline For Buying Your New Home

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