Real Estate Investment 101

Real estate offers a solid investment opportunity that can provide not only an income stream, but long-term value appreciation as well. It’s never too late to begin investing in real estate. Regardless of the ups and downs of the market, people will always need housing, so real estate will remain a good way to create wealth.

By understanding some of the basics of real estate investing, you can begin to create a successful investment plan.

• Start Now – Every market offers opportunities for buyers; there is no perfect time to get started.

• Understand the Risks – Before investing, you should be certain that you can hold the property until conditions are right to sell.

• Do Your Homework – Know the market and understand the trends which can affect your purchase and ownership.

• Invest for the Long-Term – Real estate investing should not be viewed as a “get rich quick” scheme. While you might find an opportunity to have a quick flip, most real estate equity is realized over years, not months.

• Understand your Expected Cash Flow – In simple terms, cash flow is what is left over after all expenses are paid. For a rental property, expenses could include mortgage, interest, maintenance, insurance, utilities, rental agents, and more.

• Budget for the Unexpected – Even the most carefully planned project can have unexpected costs.

Have a back-up plan to meet these costs. Real estate can offer solid investment opportunities. Even a first-time investor can realize profit and positive cash flow with careful planning and research. Start building your real estate portfolio now; a real estate purchase could provide a low-risk addition to your other investments for both income and asset value growth.

 

Your Tax Refund Can Get You One Step Closer to Homeownership

Saving money each month toward a long-term goal is increasingly difficult for most people. Even committed savers can get thrown off track when unexpected problems or opportunities arise. It can be difficult to envision how $200 a month can add up to a new home; the dream of homeownership continues to get pushed back in favor of more immediate needs.

For many of these potential homebuyers, their tax refund can be a big step forward in their saving goals. Received in a lump sum, a tax refund is easier to see as a meaningful dollar amount. The average IRS refund in 2019 was almost $3,000. This, added to an already growing savings account, can be a great bonus.

In addition to adding to your down payment fund, a tax refund can also be used to increase your credit score. Debt accumulation and use is the largest factor in determining a borrower’s credit score (FICO). A low FICO score can result in thousands of extra dollars in interest and origination fees when getting a home loan. Working with a lender, strategically reducing the debt ratio can add borrowing power to a potential buyer; lowering the cost of the loan and allowing more of the monthly payment to go toward the home itself instead of interest.

It’s tax refund time. Before you head to the electronics store to put that money toward a bigger TV, consider how your tax refund can help you achieve your homeownership goals.

 

Tips for Selling in Summer

Summer has traditionally been the best time to sell a home. Not only do many families take advantage of moving when the kids are out of school, but in climates where winter weather is unpredictable or severe, the warmer months make it easier to be away for showings. With more homes on the market, how can you maximize your potential for a great offer among the options? Fortunately, you can take a few steps to ensure your home stands out from the crowd.

Tips for Selling in Summer

Control the Climate – The first thing a buyer will notice when they walk into a home is the temperature. If the weather is warm and humid, it’s critical you keep the home cool. A larger air conditioning bill is a small price to pay for a top dollar offer.

Let in the Sun – It might be tempting to close the blinds to save money on air conditioning, but bright, sunny rooms are always more appealing; leave enough open to showcase natural light.

Extend Outdoors – Today’s lifestyle includes the outdoor areas and more and more homes feature outdoor living and dining areas. Regardless of your home’s features, maximize the impact of your yard with furniture, BBQs and manicured landscaping.

Spring Clean – A fresh, decluttered home with a lighter, seasonal color scheme will be visually appealing to your buyers. Replace dark pillows, linen and accents with softer colors which make the rooms seem larger.

The summer selling season is here. Make sure your home is dressed for success. Welcoming outdoor spaces and bright sunny rooms combined with inviting an air conditioned rooms will ensure you get a good offer.

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