Winning Ideas For Real Estate Investing

While investing in real estate can seem difficult, it can be made much easier as you figure out the best strategies. If you’re someone that’s new to this or if you have experience, this article will teach you what you need to know. After all, there’s always more to learn when it comes to real estate.

Stick to your budget

Be careful not to overextend in terms of buying property. Real estate investing is very exciting, and sometimes it can get the better of you. You may bite off more than you can fiscally chew. Know your numbers and your budgets and stick with them. Even if it seems like an easy flip, don’t go past your budget!

Consider management

Be sure to taking into account the amount of time you can realistically devote to managing property. The issues tenants have can become time consuming. Between late rent, property damage, and maintenance requests, you may be left with less time than you expected. If you don’t have ample time to manage, consider hiring a property manager to do it for you. If you are curious about the benefits of hiring a property manager, check out our guide on why property management might be worth the money.

Location, location, location

Location is paramount when considering a real estate purchase. The proximity to great areas will increase the value more than you might expect. Be sure to consider the location and if there is adequate work in the area you wish to purchase a house. After all, jobs are one of the biggest drives in renting/purchasing real estate.

Your image matters

Reputation is immensely important in the investing world. Therefore, always tell the truth and try not to make any enemies. Most importantly, follow through on what you say you are going to do. If you are not sure if you can do something, do not make the claim in the first place. Your reputation could suffer and affect your business as a result.

Be Patient

Know that it will probably take some time before you start seeing any gains. You must ensure you’ve got some money. You must be gainfully employed to start. It is very common for unforeseen expenses to come up at any time throughout the purchasing process and future managing process. If your income is not sufficient, it is likely you will go under.

Get organized

Have a business account, and stick to using it. If you invest too much of your personal money in a property, you could lose money. This might leave you short on funds to pay your bills or take care of personal needs. Treat this like a business so you don’t risk losing it all.


To make sure you buy a good piece of real estate, find out what similar properties have sold for. This will give you a good idea of whether a property you’re considering is worth the price you’re about to pay for it. There are public databases about recent sales, or you can ask a real estate agent to help.

Partner up carefully

If you are bringing in a real estate partner to invest with, think about what a non resource loan would cost. These loans offer good protection in case the other party becomes irresponsible, or if problems in the partnership make it untenable. This will give you greater freedom to profit with less risk than traditional partnerships and loans.

Learn from your mistakes

If you’ve lost money on an investment, take the time afterwards to understand why it happened. Look at your books and see where you went over-budget. Think about the things that you could have done differently to keep the numbers in check. Since big money is involved here, you need to learn as much as you can from your own mistakes.

There are people that gain a lot of money in real estate. Now that you have the basics down, you will surely be successful at it. Don’t get too scared of this and be held back by that fear. Just learn what you can and you’ll see the money come in. Be sure to let your friends and relations know about the great information presented here.

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What Is an FHA Loan?

The advent of the FHA loan has converted visions of home ownership into reality for those who never thought it was possible. While the FHA loan isn’t a one-size-fits-all solution for everybody, there are some things about it that make it great and unique. FHA loans allow a buyer to make a down payment of as low as 3.5% with less-than-great-credit. With the FHA 203k program, buyers can also receive extra funding for repairs and renovations. Lastly, the down payment for an FHA loan can be a gift. All of these factors make the FHA loan a truly unique opportunity for first-time homebuyers to make their dreams a reality.


FHA loans can be issued by approved private lenders like banks and credit unions. The FHA (Federal Housing Administration) backs the loan, giving lenders the confidence to approve some otherwise unfit loan applications. The Federal Housing Administration is a government agency founded in 1934 in the middle of the Great Depression, when housing markets were at an all-time low. Since its creation, the FHA has backed millions of loans, making it the largest mortgage insurer in the world. Contrary to popular belief, FHA loans aren’t just for first-time homebuyers. However, you can only have one outstanding FHA loan at a time.

Do I qualify?

FHA loans are a great fit for some individuals. With very little money down, the option of paying the down payment with a gift, help with improvements, and no prepayment penalty, this loan seems like a little too good to be true. However, FHA loans are even easier to qualify for than conventional loans. With government backing, lenders are more willing to approve potential homeowners of all income levels.

FHA loans do not have an income limit. However, you do need a reasonable debt-to-income ratio to qualify. Usually, you should aim for a rate lower than 31/43. For example, if you make $3,500 a month, your house payment needs to be below $1,225. Online tools can help you calculate your average house payment so you can see if you’d qualify.

First Steps

First, consider some of the downsides to using an FHA loan. You will have to pay mortgage insurance at 1.75%, along with a monthly fee that depends on your personal loan risk. You can expect this to be an additional 1% a month. Also prepare to pay a higher interest rate than you would with a conventional loan, or the same. In addition, consider that FHA loans have limits, and if you’re looking to buy a more expensive property, you may not be able to swing it with an FHA loan. If you are still on board, it’s time to jump in!

The best way to start your journey into the world of FHA loans is to talk with a FHA-approved loan officer. These professionals will be able to lead you in the right direction and discuss different options with you if you don’t qualify for an FHA loan for any reason. They will give you a list of everything you need to get started.

It’s worth a shot

Talk to an FHA-approved lender to see if you might qualify for an FHA loan. You may be surprised! Experts encourage that buyers shop around and compare offers from several different sources, FHA and conventional. After approval (or before), talk to our experts here at CDA Real Estate Investment and Property Management to discuss exactly what type of home you want. We have access to the latest and greatest FHA-approved properties. We can help assist you every step of the way. Your dreams of owning a home may be much closer than you think!

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Everyone Dreams of a Summer Home

The dream home. Everybody has one. Whether it’s a rustic cabin in the woods, an ultra-modern condo in the city, or an open-air beach house, everybody has that one type of home that they can see themselves being completely happy in. For me, it was always a cozy lake house on Lake Coeur d’Alene. If you’re not familiar with Lake Coeur d’Alene, or perhaps you’ve heard of it and seen a few photos, I highly recommend adding this beautiful town to your summer vacation destination list. The lively downtown scene is just a stone’s throw from the lake, with a sprawling public beach and a favorite local haunt, Tubbs Hill, famous for its lakeside hiking trails. With over 100 miles of natural shoreline, Lake Coeur d’Alene boasts some of the most pristine lake cabin spots in the Pacific Northwest. Whether you live there year-round or only visit during the summers, the possibilities are endless when it comes to real estate along the lake.

Intrigued yet? Not sure where to start? If, like me, you’ve found yourself fantasizing about waking up to watch the sun rise over pristine blue waters or walking out your back door to jump right into the lake, then here are a few tips to get you started on your search for your dream home.


  • Know what you’re looking for. Before you even begin your search, it’s good to have a few parameters to help you narrow in on that perfect piece of lakeside real estate. What is your overall budget? What kind of borrowing power do you have (i.e. how good is your credit, and is it good enough to help you qualify for a home loan)? Once you’ve determined those things, you can realistically figure out what types of real estate are available to you, the size and style of housing options you have…etc.


  • Check local listings. This can be done the old fashioned way by browsing the local newspapers, or by looking up local real estate ads and agencies online. You can even call a few different real estate agencies and speak with an agent about the current housing market trends, what you’re looking for, and what’s available.


  • Use real estate apps like Zillow and Trulia. This will allow you to search using custom filters and geographical locations. You can also use these websites to set up email or text alerts whenever real estate within your search parameters comes up for sale. Use generic search keywords like “Coeur D Alene real estate listings” or “Coeur D Alene real estate for sale” and then use the map tool to find real estate investment opportunities in the locations you want. Once you’ve narrowed it down to a handful of properties, contact the realtor or owner and set up a time to actually go out and tour the property.

Remember, be patient. Finding the perfect piece of investment property, especially on Lake Coeur d’Alene, is going to take careful planning, time, and energy. If you’ve already been looking for a while and still haven’t found that perfect lake house you’ve always dreamt of, just wait. Be patient. If you rush into an investment, it may prove to be more of a nightmare than a dream home. But if you wait and watch, you will eventually find that dream home you’ve always wanted at just the right price for you.

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The Coeur d’ Alene Home Market

Coeur d' Alene home marketCoeur d’ Alene home market has been on fire lately! Depending on the type of home your looking for, we are down to single digits of inventory! I have been real estate for a long time now. I love real estate investing and (obviously) have been doing property management for years. Rates for rental homes keep going up, resulting in a buying spree for the Coeur d’ Alene home market. Here are a few of the trends i’ve seen recently in our real estate marketing.

  1. Home prices aren’t going down anytime soon. With mortgage rates at historic lows, the average home price will only continue to increase. We are also at capacity for rentals, and the housing shortage will push prices even higher. There are tons of affordable financing offers for first time home buyers, the price won’t get better. Get on it!
  2. Our bedroom communities are growing. The Coeur d’ Alene home market has steadily increased to almost unaffordable, however, the surrounding areas have great prices on homes. If your willing to drive a few miles outside of town, your money will go much further. Post Falls, Hayden, and Rathdrum all provide great opportunities for getting a great price on your home. If you are considering buying, I would widen the search!
  3. Investment opportunities abound. If you are looking for a new investment property, we have tons of great options! 4-plexes, and vacation rentals are actively on the market if you keep your eyes open! Real estate investing has drastically changed with the advent of services like VRBO and AirBNB. If you have never considered real estate investing, you would be shocked by the average return on investment. Seriously, give it a shot.

In future posts we will expound on our local real estate markets. The Coeur d’ Alene home market provides great opportunities for first time home buyers and investors alike. Let us know if you have questions! We love helping people find the perfect opportunity!

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Renting Vs. Buying: A Real Estate Guide

renting vs. buyingRenting vs. buying is often a question we get asked as one of Coeur d’Alene’s leading property managers. Millennial  have shown a big move towards renting instead of owning homes, putting a lot more stress on our rental market. On the other hand, home prices continue to rise in our area because of low inventory. It almost seems like your trapped between a rock and a hard place! This week we wanted break down some of the differences between renting vs. owning.

We have tons of renters. Renting a home comes with a big slew of benefits. You never have to worry about home maintenance! Just call us, and whatever problem you are faced with is taken care of at someone else’s expense. You can also control the amount you spend on your home within a yearly basis since your not tied to a mortgage. If you are not in a “steady” career, haven’t settled down yet, or just like moving around, renting is going to be a great solution for you!

renting vs. buying

Buying a home requires a lot of careful consideration. A 30 year commitment shouldn’t be taken lightly! You also want to ensure you have the proper down payment and budget to sustain your home purchase. If you can get your ducks in a row, there is a special pride that comes with owning your own home! While home ownership carries with it a lot of additional responsibilities, the benefits often outweigh the additional costs. Living in your own space is amazing! Having a driveway is even a luxury in this day and age. Choosing the colors of the walls, interior fixtures, and mowing your own lawn all help provide some serious pride of ownership. Its not all roses. When your furnace breaks, its your responsibility to fix it! Home repairs can be incredibly expensive and time consuming. You also have to content with HOA rules and the occasional annoying neighbors pet. Altogether renting vs. buying comes down to personal preference. If you like an independent life style and tend to be a free sprit, stick to renting. It will be easier in the short term. If you’re ready to “settle down” and prepare for the future, consider starting a home purchase. You will be glad you did!

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