Friday, November 2, 2007

Which is the Right Basketball Hoop for Your Home

A basketball hoop in the driveway, on the garage, or above a poured slab of concrete in the back yard is a must for hoops junkies. The new basketball goal is the perfect place to shoot some hoops with your kids, sharpen your own game, or get in a game of two on two with the gang from the neighborhood. However, before you go to put your basketball hoop up, there are things to consider. Where should you put it, how should it be attached, and what type do you want to get?

First and foremost, you will need to decide what kind of basketball hoop ou need. The three main types to consider are portable basketball goals, in-ground basketball goals, and wall mounted basketball goals. Only by considering the pros and cons of each kind will you be able to determine the best type of hoop for you and your home.

A portable basketball hoop is going to be best if you are someone who wants to be able to move your goal inside at the end of the day. It is also going to be your best bet if you dont want to go to the trouble of installing an in-ground goal. It is also perfect if your family moves frequently or lives somewhere that will just not work for a regulation court. The base that holds the hoop system in place is generally filled with water or sand, but is still easily moveable because of a set of wheels on the front of the base.

The more traditional basketball hoop is the in-ground goal. This hoop is actually anchored in the ground. In-ground goals work best for people or families that have a space where such a goal can be installed. This is usually ground just next to a driveway or a concrete pad that has been poured expressly for the purpose of basketball. If you are thinking of buying an in-ground hoop, take into consideration that it is a fairly permanent fixture and probably not for you if you plan to move in the near future.

The in-ground hoops can really be divided into inexpensive and heavy duty. The inexpensive are the type you would buy for younger children. They are not as sturdy and do not last as long, but they are fantastic for giving children a place to shoot hoops at home. The second type, the heavy duty in-ground basketball hoop, is great for both children and adults. Generally they have break-away rims to accommodate dunking and to give a truer bounce. The heavy-duty cost more, but will last longer and will withstand heavy use much better than the inexpensive brands. The heavy duty goals are generally best for those that are more serious about basketball.

Wall mounted hoops are also popular. Wall mounted goals are ideal for those who are have only limited space, but want to put up a more permanent basketball hoop. The wall mounted hoops come with brackets so that they can be mounted on an already existing area. They can be put on garage roofs, against walls, or even off of the side of your home if you so desire. These permanent basketball hoops are commonly found above garage doors for great driveway play. The installation on them is a bit easier than in-ground, but offers you the challenge of having to get on top of your garage or a ladder.

No matter which system of mounting your basketball goal you use, just make sure it is the best one for you. Find the right one and you will be giving you and your family a chance to play a great sport right outside your front door.

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A Real Estate Formula

It was a simple real estate formula. The ads ran in our small-town newspaper for years before I realized exactly what was going on. They were always the same: A house for sale with 5% down and payments of 1% of the purchase price. Maybe a three bedroom home for $90,000, for example, with $4,500 down and $900 per month payments.

When a friend started doing the same thing he explained the process to me. It was a way to get a great return on capital, and it was the opposite of buying with no money down. There is no down payment at all when you buy, because you buy for cash.

The Simple Real Estate Formula

You probably know that when you buy for cash, you can often get a much better price. With no financing contingencies in the offer, and the promise of a faster closing, sellers are willing to sell for less. You can offer $95,000, for example, on a house that might be worth $108,000. If you can't get it for less than, say, $99,000, you walk away - there are always other opportunities.

Once you buy the house, you put few thousand into high-return repairs and improvements. These might include paint, carpet, and maybe asphalt for a dirt driveway. For our example, we'll say you spend $5,000. Let's suppose the house is worth $116,000 now. You're ready for the next important step in this real estate formula.

You put it up for sale, targeting buyers who can't get financing easily. You provide the financing. Because you are making it easy for the buyer, you can get more than the $116,000 value for the home - and do it without paying a realtor's commission. Let's say you sell it for 123,000. The buyer needs a down payment of just 5%, or $6,150, and makes monthly payments of $1230 per month. You charge higher interest than the going rates at the banks, of course.

This is a win-win situation. Your buyer is able to buy a home instead of renting, and you get a capital gain of perhaps $16,000 after expenses, plus good interest. Your total rate of return will often be over 20%!

In our town, the first to do this consistently were a father and son team of lawyers. They saved money by doing their own foreclosures when necessary. Once they foreclosed, they raised the price and sold the home all over again.

They made millions. Did you know that if you can get an average return of 18% on your money, you'll turn $75,000 into more than one million dollars in about fifteen years? That's the power of a good real estate formula.

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How to Buy Fixers for Profit

Do you dream of becoming a multi-millionaire real estate investor? Here's how to get started: find a bargain "fixer-upper" owned by a worried seller. The hardest house for a homeowner to sell is a "doghouse," "dump," or "fixer-upper." These run-down houses turn off most home buyers, who don't have the money to cover the down payment, plus closing costs, new furniture, carpeting, appliances, roof repairs, and other deferred maintenance required to bring the home back into top condition.

As you look through the classified ads or at real estate listings, keep an eye out for terms like "handyman special," "as is," "fixer," or other tell-tale phrase. Ask your buyers agent to list these words when scanning the Multiple Listing Service for you.

Why Home Sellers Accept Rock-Bottom Prices

Home owners' troubles often keep them from staying on top of their home's maintenance. Circumstances such as divorce, job loss, devastating illness, assorted addictions, or other personal problems quickly overcome distraught home owners, forcing them to sell. These home owners can't keep up with monthly mortgage payments and/or repairs because of financial or physical limitations. When these troubles arise, their home becomes a low priority and sometimes goes into foreclosure.

Find "Triple-D" Deals

Home sellers with three problems offer breaks to beginning real estate investors. A "Triple-D" deal is a Doghouse, involved in a Divorce, and in Default. The label "doghouse" comes from Southern California real estate agents who described the worst fixers this way. You may have seen ads for "ugly" houses. Often these "tired" houses need only cosmetic work in order to compete for resale with other homes in the area.

How to Compete in a Seller's Market

Once you've found a property that you can turn from doghouse to dollhouse, find out the seller's problem and then offer a solution. Distraught sellers commonly experience financial difficulties and need cash as soon as possible. Therefore, if you're ready to close rapidly, you'll be set to negotiate a lower sales price. Sellers with problems love it when an offer to purchase says "close in 10-14 days."

How to Complete a Fast Sale

Find an experienced lender and get yourself not only "pre-qualified," but also "pre-approved." Taking that second step assures worried sellers that you already have your loan in place for their property, and this puts you well ahead of other potential buyers.

Use a trusted closing or escrow agent who knows what they're doing; one not over-worked. Even in todays busy market, you can find an officer who can help you close in two weeks, when your financing is prearranged.

Real estate investing should be fun as well as profitable. Keep in mind that you're seeing potential when you view fixers. Enjoy your property search!

Copyright (c) 2005 Jeanette J. Fisher. All rights reserved.

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