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 Welcome to MW Real Estate Solutions and Olivia Homes!

 

Welcome to Midwest Real Estate Solutions and Olivia Homes, where we are not your typical real estate company.  What makes us different is simple.  We are committed to helping you, and your family in a very timely manner.  We work with homeowners that may be up against strict timelines, and may need to sell their property quickly.

 

Best of all, there are no surprises, just sound advice and professional service, backed by our commitment to excellence.  On top of that you will receive personal attention at each step of the process.

 

The biggest mistake we see homeowners make is that they do not explore all of their options and simply run out of time due to pressure and stress.  Pick up the phone and call us immediately to set up an information only appointment.

 

Call Midwest Real Estate Solutions and Olivia Homes at 1-800-HOPE-DAY

 

Our Mission

To better lives and communities through real estate education and proven real estate solutions.

 


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Recent Posts

Getting a Great Deal on a Mortgage

Posted by on Mar 13, 2017 in Blog | 0 comments

Getting a Great Deal on a Mortgage

A mortgage is probably the biggest payment that you will make during your lifetime. So, getting a great deal on a mortgage should be a paramount concern so that you save money in the long run. The good news is that there are mortgage deals to be found if you know where to look. However, the bad news is that because of the housing crisis in 2008, the process has become far more complex. Here are a few tips that will help you secure the best mortgage deal. Take Advantage of Opportunities You will need to be ready to take advantage of opportunities because if you don’t, someone else will. This means getting your house in order so you are ready when a good deal comes along. Start with the basics that include your tax returns, social security card, driver’s license, and business license if necessary and keep them in one easy-to-find place. Things that are updated monthly such as your bank account, income documents, rent checks, and the like need to be kept up to date. So, when a good deal comes along, you can act quickly by submitting all the necessary information. Look for Options You will need to know about the options that are available before you start your search. Most mortgages are 30-year fixed loans that do not work for everyone. You may find that an adjustable rate mortgage (ARM) over the short term is a better deal for you. The key is understanding what loan options are available and what works best for your situation. Go to Several Lenders Apart from those who work with a lender on a regular basis, you will probably have to shop around for one. Getting a great deal on a mortgage means having to search through several lenders to find the one that offers the best mortgage deals for your needs. You may need to spend a little to get a lot, such as offering more money to use a broker who has access to a program that will save you considerably more. So, be sure that you look around to find the one that works best for you. Keep Asking Questions Remember, you are going to live with your decision for a long time, so be sure you know what is required before making any commitment. This means asking questions so that you remain in control of the process. Quite often people get better deals when they ask a seemingly simple question that results in having fees or other costs shaved off the payments. In fact, using the right attorney can help you save money, so whenever you see something that you don’t understand, ask. Interest Rates Keep in mind that interest rates can change at a moment’s notice, so your goal should be to lock up a deal that is good as soon as you can. A quarter-point change in the interest means hundreds, if not thousands of dollars’ difference in what you pay. So, lock in the best rate when you can so that you are not forced to pay a higher one because you waited too...

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Invest in Real Estate

Posted by on Mar 6, 2017 in Blog | 0 comments

Invest in Real Estate

The benefits you may receive when investing in real estate can be considerable. Over the years, real estate investing has proven to be one of the more profitable means of earning money. There are good reasons why you should invest in real estate. Anyone Can Do It There are no education, degree, or special qualifications needed to invest in real estate. All you need to be is of legal age and have the money available to invest in properties. This means that anyone can purchase property as they see fit and fix it up for rent and early a healthy monthly cash flow or flip the home and sell it for a quick profit. Be Your Own Boss You can work as much or as little as you want. You have no schedule when it comes to being a real estate investor. This means that you can work on making several deals for smaller profits or a few larger deals for bigger profits. It also means that you are not expected to keep standard office house. However, you should expect to work hard, especially in your first few years as you learn about what it takes to be a successful investor. Being your own boss means not having to work for anyone else which can be quite attractive for those who tire of the 9 to 5 workweek. It is true that real estate carries more risk and may not appear to have the same job security, but the good news is that there is always a good deal somewhere and you just need to find it. Excellent Returns You do not need to be a math major to see the type of returns that can be earned investing in real estate. From purchasing distressed properties that can be fixed up and sold quickly for a fast profit to cash flow properties that earn you a monthly income, you can enjoy considerable returns that can add up in a short time. Because of this, you can make some big profit depending on the types of property that you choose. Plus, you can work alone or with others to help balance out your portfolio. Unlimited Potential You can make as much money as you want, there is no limit to the income potential when it comes to investing in real estate. This means that you do not have to climb the corporate ladder or rest your fate on the will of others for you to succeed. While you may not enjoy instant success, the average real estate investor earns a considerable amount of money and is in control of their financial future which makes this one of the best ways to earn big money. In the end, when you invest in real estate, you are taking part in a long, successful tradition of earning money while providing property for those in need. For investors who are willing to learn and take a few risks, real estate investing can be quite profitable and enjoyable.   Enter your email address below to join our newsletter which has real estate insider tips and tricks Name * Email *...

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Mistakes Investors Make

Posted by on Feb 27, 2017 in Blog | 0 comments

Mistakes Investors Make

As an investor, it is sometimes far better to know what not to do rather than taking advice on what worked before. By understanding the common mistakes investors make, you can avoid many of the pitfalls that create big issues with your money. What follows are some of the more typical mistakes that can be avoided which will help keep you on the right path to success. Doing Too Much When you consider just how many things there are to do when creating a new business or investing in real estate, it’s pretty easy to do too much. Your focus should be on getting what needs to be accomplished out of the way in a timely manner, but one that does not put too much pressure on you to get everything done at once. It helps if you surround yourself with the right people to help you get started the right way. Not Utilizing Your Time Correctly One issue that many investors have is not getting enough done during the day because of poor time management. Your biggest regret will often be not getting enough done during the day which leads to even worse performances in following days. So, avoid this by planning your time to get everything you can out of what is available. Going Against Your Instincts Not trusting your instincts in one of the most common mistakes investors make. Your instincts are really a combination of the information you have with your experience that will help you make the right decision. This will often manifest itself in feelings of being uncomfortable or not right when looking over the decision-making process. That is your brain activating areas of your body that create feelings of doubt or even fear. While you shouldn’t place too much stock in fear, you should trust your instincts more and go with the decision that you feel is the best. Let Your Business Grow Naturally Believe it or not, many businesses fail because of their success. The growth of the business becomes such that the owners start to push it beyond its limits. You really need to let the business grow at its own pace without interference so it will become stronger and you will not get overstretched in keeping it above water. Many investors start to pour too much money into trying to expand it faster which results in expectations that are not met and often the company crashing under the weight. So, keep things running normally so that your business can grow correctly. In addition, you will want to learn from your own mistakes so that they are not repeated. Everyone makes mistakes and you will not be an exception, so keep that in mind when running your business. Also, take advantage of good opportunities when they present themselves. If you can get something that provides a long-term advantage which does not press you too much in the short-term, take it. If you can avoid these common mistakes investors make, you greatly improve your chances for long-term success when it comes to your business ventures. Enter your email address below to join our newsletter which has real estate insider tips and tricks Name * Email *...

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Removing Stress from Selling

Posted by on Feb 20, 2017 in Blog | 0 comments

Removing Stress from Selling

For the real estate investor who purchases properties that need fixing up before flipping can be very stressful work. This is because even your best efforts may not flip the home in a timely manner or get the profit you desire. However, there are ways to remove stress from selling properties by taking the appropriate actions that put you more in control. Keep Emotions in Check Admittedly, it can be quite difficult to keep your emotions under control when you have invested a considerable amount into a property. This means that when buyers make offers that are well below your asking price, you will need to keep your cool. You will need to be reasonable when it comes to the sale of the property, so getting it appraised and making the proper calculations before putting it up for sale are crucial to getting what you want and making the process as stress-free as you can. Get a Good Real Estate Agent Selling on your own will increase the stress many-fold, so you will want the services of a good, reputable real estate agent to do the work. This means doing good research and finding an agent who has worked similar sales before. However, the most important aspect is that they can do the job and find you the right buyers for your home. Let the Real Estate Agent Sell Your Home While it is tempting to look over the shoulder of the agent to see if you are getting the best reputation, you really need to back off and let them to their job. You will need to listen to their advice, let them guide you as to a good selling price for your property, and provide them with enough space so they can contact you on a regular basis. Remember, if they have any questions or concerns, they are going to call you because they have a stake in selling your home as well. This also means letting the agent show your home while you are not present. Let them do the work and if they need you, they’ll call. Create a Plan B One of the best ways when it comes to removing stress from selling is having a Plan B in case your original plan to sell the home is not working. A Plan B usually consists of the minimal amount you will accept as a purchase price and keeping that as a backup in case your original price proves to be far too much. In fact, you should have several backup plans to deal with all reasonable contingencies that are based on the market your property is selling. Changes in interest rates, crime statistics, and general interests from buyers means that what you thought might sell your home is now out the window. So, be sure to have a backup plan or two or three just in case your original effort is not successful. You can talk this over with your real estate agent who can help you come up with different ways of selling the home. Removing stress from selling can be done if you take as many things into account before you put your home on the market. Selling is never easy, but it doesn’t have to be all that stressful.   Enter...

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2017 Home Trends

Posted by on Feb 13, 2017 in Blog | 0 comments

2017 Home Trends

Every year it seems that there are new trends in home designs which catches the eye and makes the interior or exterior really stand out. The 2017 home trends are no different as they bring in new ideas that are sure to be quite popular over the remainder of the year. Built-In Bar A logical extension of the bar cart trend that dominated last year, the built-in bar provides a more permanent feature for the home. The bar itself is also quite practical as it can be used to serve food or act as a gathering place away from the living room or den. Colors of Jewels A trend that has only recently developed is that of jewel colors such as sapphire blue or emerald green that has been featured in furniture, fabrics, and even artwork. There is little doubt that this trend will continue thanks to the vibrant colors that they provide. Marble Of the many trends in home décor that have been around for thousands of years, marble is one that never seems to fade away. The beauty of marble is making a big comeback in 2017 as one of the most popular home trends. From tabletops, countertops, and flooring, marble is becoming present in more homes, especially with items such as vases or platters. Gray Gray has become a safe choice for many homeowners who may shy away from bolder colors. The good news about gray is that it can be combined with other colors or used monochromatically to create an interesting effect. Cool gray colors are hot right now as they can be found on rugs, furnishings, and even the walls of many homes making it one of the dominant 2017 home trends. Return of Industrial Design The term “steampunk” might be familiar to those who engage in sci-fi or fantasy literature and media. This combination of Victorian-era elegance with machine-type aspects makes for a unique home design trend which is only getting stronger in 2017. Velvet Materials What goes around, comes around again as velvet is making a big comeback from its heights during the 1970s. The prominence of velvet fabrics and textures are seen in curtains, couches, and even throw pillows which makes it one of the hot trend that shows how so many trends that were popular before are coming back. One popular trend in 2016 that is quickly fading is Quote Art, the use of sayings or simple words that act as decoration to different rooms of the home. Instead, the movement appears to be shifting towards natural colors and textures to create a different, vibrant appearance much like the great outdoors. There is little doubt that many of the trends that will dominate 2017 will fade and be replaced by new ones for the following year. However, that is no reason to ignore the latest trends in interior décor which offers a fresh, new look for your residence. If you are looking to shake things up around your home, then investigating the hot trends of 2017 is a great place to...

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Tenant Screening Tips

Posted by on Feb 6, 2017 in Blog | 0 comments

Tenant Screening Tips

For landlords, getting the right tenants is arguably the most important aspect of running your property. This means that you will need to do everything reasonable to find the right tenants from the start and eliminate those who have troubling issues. Here are a few tenant screening tips that will help you find the best ones for your property. While no screening process is perfect, the tips will help you minimize the potential for getting undesirable tenants which will only cause more headaches. Start Early You need to start the process of looking for new tenants in the months before the lease from your old tenants runs out. If you do not plan to re-sign them or if they have indicated that they will move out, you will need to start looking for new tenants as soon as possible so that you are not facing a time-crunch. You will start with the phone call with a potential new tenant that you get from their inquiry which is usually through an email. When you talk to them, be sure to answer the questions they have about your property, but have a few questions of your own for them to answer. You need not be too specific as it is the tone and tenor of their answers, not so much the substance that you will be honing in on to see if they are right for your property. Application & Follow-Up When they apply to be on your property, they will need to fill out an application form. You will need the basic information from their work status, rental history, information about their income, criminal history, and more. If the tenant is reluctant to provide such information, you can stop the process right there. Once the application is filled out, you can start the follow-up process which consists of verifying the past information. You will want to talk to their previous landlords that are listed, make a general search online for any criminal record, and check their employment history and even their credit report if necessary. Naturally, any large red flags such as their previous behavior or bad credit score should be investigated further or you can eliminate them if you wish. However, keep in mind that many good tenants have a blemish or two on their past, so keep that in mind. The Walk-Through One of the most important tenant screening tips happens when you show the property to the prospective tenant. You should look for signs of whether they are really interested in your property. If they have seen enough after a few minutes and want to leave, that is a good indication that they are not really that interested. However, if they are interested, they might offer to sign a lease quickly and provide a security deposit. Tenants willing to set firm dates and willing to pay are interested in staying on your property, so those are the ones you want to have. By following a few tenant screening tips, you can find the best people for your property. You also may want to consider that good tenants come with different personalities and backgrounds, so it is important for you to know their background and their demeanor when looking over your property. This will provide you with good...

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How to Keep Your Tenants Happy

Posted by on Jan 30, 2017 in Blog | 0 comments

How to Keep Your Tenants Happy

A happy tenant is the best tenant, so as their landlord you should strive to make the conditions in which they live as comfortable as you can. While you cannot please all your tenants, there are ways to keep tenants happy on your rental property. Here are just four methods you can employ that will create the best conditions to keep your tenants pleased which will make it easier for you to run your property. Answer Your Tenants Quickly When you receive an email, message, or phone call, it is your job to answer it and respond to your tenants in a prompt, professional manner. Remember to keep their concerns in their perspective so you can address them properly. While you cannot be perfect, what tenants appreciate is that they are being listened to and a proper response is forthcoming. Taking a few moments to listen and provide a proper response means the world to tenants. Expedite Repairs & Maintenance A common complaint from tenants is that repairs are slow in coming once something breaks down. What may seem like a small thing to you may be of major importance to your tenant, so have in place a system where repairs can be performed quickly. This means having a maintenance person on site and a backup in case they are unavailable. Be sure to quickly respond when your tenant tells you of the needed maintenance or repair and set a schedule for it to be addressed. Provide Ample Notice before Entering a Tenant’s Space Landlords are most appreciated when they are close enough to be contacted quickly and far enough away so the tenant can enjoy living on the property. It’s a tough balance to be sure, but the most successful landlords manage to strike it by providing ample notice before they enter their property. While there are times when you will need to be there unannounced, such as noticing something wrong when driving by. However, a good tenant does not need frequent intrusions on your part. So, when there is scheduled maintenance or pest control to be done, let them know well in advance. Make Rent Collection Simple Many landlords use the old-fashioned mail system which is efficient, but also has some drawbacks as tenants must sign checks, get money orders, and pay for postage. Still, it may be preferable to other methods depending on how often you can be on the rental property itself. Whatever option is the easiest for your tenants to do each month is the one you should choose. Being a landlord is not an easy job, but it is one that provides many benefits if you can keep your tenants happy. This means being close enough so you can respond to their questions and requests, yet far enough away so they can think of the rental property as their own. It helps to be clear and consistent in your approach so that everyone is treated equally. Remember, there will always be bad tenants or situations that you cannot control. However, you can reduce such occurrences to a minimum if you strive to keep your tenants pleased. Enter your email address below to join our newsletter which has real estate insider tips and tricks Name * Email *...

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Financing Multifamily Property

Posted by on Jan 23, 2017 in Blog | 0 comments

Financing Multifamily Property

When it comes to financing multifamily property investments, you’ll find that not all lending is the same. The difference of one unit can be significant in terms of getting the type of program that fits your budget. Your down payment may be significantly higher and your credit score even more important when the investment property you want contains more units. Here are a few tips when searching for the right financing to purchase a rental property. The more you search beforehand, the better the chances of finding the right deal that meets your needs. Large Down Payment One significant difference between financing a single-family home and a multiple family property is the down payment. Thanks to government programs, you can find down payment opportunities for as little as 1% on single family homes. However, they do not cover multifamily properties as they are considered investments. Regardless of your credit score, you can expect to pay at least 20% down for the purchase. For larger properties, 25% down payment is not uncommon, so be prepared to put down some significant cash to get the property. Good Credit Score A good credit score helps with lots of things, but today it is more important than ever when it comes to investment properties. Because of the Housing Crisis of 2008, getting a loan is now more difficult than ever and your credit score will need to be at least 700 to 720 if you want consideration from banks and lenders. Your credit score will also need to be clean of any mortgage defaults and any issue that might cause a lender to think twice. The 75% Rule Keep in mind that lenders will loan you the necessary money based on a 75% occupancy rate, not 100%. Very few properties are fully occupied and lenders are not going to take a risk based on 100% occupancy. So, be sure that your calculations are made at 75% which is low, but one that provides a more realistic measure. Fewer Borrowing Opportunities Because there are not as many financing options for multifamily properties, you will need to careful about looking over what is available. You can increase your options with a larger down payment as that makes it easier for banks and lenders to provide you with the needed money for purchase. Focus on gaining as much money as you can with a large down payment and then shop at lenders who network with other lenders for the best deal. Interest Rates and Insurance You’ll need to know all the monthly payments you are going to make before purchasing the property. That includes the interest rates, insurance coverage, and all fees that must be paid regularly so you can calculate the cash flow. Too many investors overlook calculating all the fees which may mean some nasty surprises when it comes to how much money you are making. The good news about investment property is that there is still a big market that you can take advantage. Keep in mind that financing multifamily property opportunities may be more difficult today than a decade ago, they still provide the type of rental income that makes them a great way to earn money month by month. Enter your email address below to join our newsletter which has real...

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How to Deal with Rental Property Damage

Posted by on Jan 16, 2017 in Blog | 0 comments

How to Deal with Rental Property Damage

It would be nice if all tenants were warm and loving to your property. Unfortunately, there will be those who will cause rental property damage either intentionally or not. When that occurs, you will need to assign rental repairs as quickly as possible by using the tenant’s security deposit which is designed for that purpose. Here are a few tips that you will need to follow in case your rental property becomes damaged by a tenant. If you do not properly document what occurred, you are asking for the tenant to file a lawsuit when withholding their security deposit which they will probably win. Take Photos Perhaps the easiest way to deal with damage to your property is having a photographic record of all rooms in their pristine state and then taking photos when they are damaged. You can take the photographs during the time the tenant moves into the residence and then take new photos before repairing any damage that has occurred. By doing the proper documentation which only takes a few moments, you can protect yourself when tapping the security deposit to make repairs. Make the Tenant Aware of the Damage ASAP Right after you photograph the damage, you will need to alert the tenant as soon as possible. You can start with a phone call and leaving a message if they do not answer. However, you’ll want to follow up with a certified letter so that the date can be independently confirmed as to your notification. This protects you in case the tenant claims no knowledge of your notification. Provide Cost Estimate for Repairs You should have one or more contractors to call and get estimates for repairing the damage. You can inform the tenant about your steps in repairing the damage and they may offer to pay out of pocket rather than tap the security deposit. If so, that is reasonable on their part if the repairs are carried out. You should provide estimates from three different contractors so there is no favoritism. The key is to get the repair done in a reasonable amount of time, so do not tolerate any unwarranted delays. Show Repair Amounts to Tenant All repairs will warrant some type of payment from the security deposit or directly from the tenant. You will need to show the breakdown of the costs, even for small repairs such as fixing a broken toilet roll dispenser. Any repair that requires money to fix or replace should be part of your cost breakdown. By being upfront with your tenants, you can help ease their concerns, but do not expect to be very popular. After Photos Remember that most damage that is discovered usually occurs during the final inspection before they leave. So, be sure to take photos of the damage and when the repair work is completed, take more photos to show what has been done. Dealing with rental property damage is never easy, but it is a necessary part of being a landlord. By following the proper steps towards discovery, documentation, and rental repairs, you can make the process as simple as possible. Enter your email address below to join our newsletter which has real estate insider tips and tricks Name * Email *...

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Increase Your Credit Score

Posted by on Jan 9, 2017 in Blog | 0 comments

Increase Your Credit Score

To get the loans needed to secure real estate, you’ll need to increase your credit score as much as possible. The higher your credit score, the better off you will be when it comes to getting loans. The good news is that there are several ways to boost your credit score, although some efforts will take time. So, be sure to start as soon as possible and expect to wait a month or more before the full effects are reflected on your credit score. Remove Errors & Old Information You will need to look over your credit history to ensure that all the information is correct. Quite often, there is information that is out of date or even false which is holding back your credit score. You can alert the agency that the information needs to be removed with the appropriate proof and it will be gone from your credit score once approved. For some, this will significantly improve their credit score while for others it may not have much of an impact. In either case, it is important that you keep your credit score current and free of misinformation. Minimize Your Outstanding Balances How much you owe, even if it is still lower than your maximum balance on credit cards for example, has a negative impact on your credit rating. Even by reducing the amounts by a few hundred dollars, you can make a significant impact on your credit rating. Look for ways to reduce what you owe so that your credit score can go up. You may want to take out a low interest loan that covers the amount owed so you pay it off for less money. Use What You Have, Not What You Can Borrow Credit cards are certainly handy, but not necessary for many purchases. The less you pull each month from your credit cards, the better. Get a debit card to pay for everyday expenses such as groceries, gas, and the like. Only use your credit cards when needed for bigger purchases. A few pulls on your credit card each month will not have an impact on your credit score. However, six or more in 30 days will have a negative impact, so you will need to reduce that if possible. Update Each day that you are late in making a payment is one more hit on your credit score. You will need to get up to day and make payments on time so you can avoid any unnecessary damage. Being current with your accounts means paying them off when they are initially due, not 30 or 60 days later. Once you catch up, you’ll start to notice your credit score rising as well. There are many ways to increase your credit score, but you will need to employ as many as possible if you are considering a real estate purchase. Of course, it’s a good idea to improve your credit score regardless of your future investing plans. A little time and patience will be your main assets when addressing the needs of your credit score. Enter your email address below to join our newsletter which has real estate insider tips and tricks Name * Email *...

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