investor: First Things To Do After Closing On A Property - 07/18/17 07:57 AM
Have your first property under contract or considering buying a rental property? Congrats! If you plan on self managing, what should you do first? Here are some tips to get you started on the right foot.
 
Treat It At A Business Not A Hobby
Remember you are running a business, treat it as one. Keeping documentation is key. You can chose to keep paper copies, but also scan and keep electronic files so you can’t physically lose the paperwork. Creating a binder with your mortgage, taxes, water/sewer, and tenant info is a great idea.
 
Inheriting Tenants/Finding Tenants
If you are inheriting tenants, contact … (4 comments)

investor: Breakthrough 3 Excuses That Block Investor Success - 07/16/17 02:40 AM
Excuses are unlimited of why you can’t do something. Instead of making excuses, as an investor you need to consider how you will get the deal done. Do you really want to invest in real estate? Why is it not happening now? It may take time to get your next property under contract, but enjoy the journey and keep in mind, there’s not a short term way to success.
Make the numbers work on a bad deal When analyzing properties, make sure you understand your numbers forwards and backwards. Do not lower your expenses so you can make a bad deal … (3 comments)

investor: 3 Amenities That Attract Quality Tenants - 07/15/17 06:11 PM
The amenities a landlord can offer can make or break your rental business. Ensure you are keeping your properties rented with these three amenities
 
Tenant turnover can be a killer when owning rental property. Every time it happens, you have a vacancy, repair the unit, as well as find a new tenant. Keeping tenants for the long term is ideal. Providing comfortable and convenient amenities will be a value add to your property. Consider these in your current rentals or your future properties.
 
Storage
 
Moving is stressful! Tenants may have more items then they can store in your unit. Storage bins … (1 comments)

investor: Beginner Investors: Do You Know These 5 Terms? - 07/13/17 04:15 AM
Are you just starting out?
Real Estate investing for beginners can be tricky and it’s easy to get lost in the terminology. Here are five key real estate terms you must know as you purchase your rental property.
 
Amortization
This is the decrease of your property's debt. In the beginning of your mortgage, you are paying heavy interest while at the end the majority of the mortgage is going towards the principal. A amortization calculator is helpful to look at when purchasing your property. If you are getting a fixed rate mortgage, the rate does not change for the life of the loan.
 
Equity
To find … (1 comments)

investor: Do You Know These 9 Tax Deductions For Your Rental? - 07/12/17 02:50 AM
Considering buying a rental property? Here are nine must know tax deductions for your rental.
Items used for Property – Items such as rakes, hammer, and snow blower (all used for your rental property) can be tax deductible. Make sure to keep track of all receipts.
Credit Card Interest – Ideally, create a separate bank account for the rental. It will be much easier to see income/loss. The credit card interest is also a write off.  
Home Office Deduction – You technically become a business owner when you own the rental apartment. If you use some space in your … (1 comments)

investor: 4 Questions To Ask Before Buying Your Home - 07/06/17 03:21 AM
Is a single family home a bad investment? Some buyers luck out and receive great appreciation on their property over time. They also make a few improvements that improved the value and sell it for more then they paid a few years prior.
If not bought strategically, it may be difficult to sell for a profit. The goal should not be to break even when looking to sell, but to profit.
You can’t control the market, but you can follow a few simple steps to avoid a bad purchase.
 
1. Is this a house you can live in for 5 or more years?
Make sure … (1 comments)

 
Steve Bracero, First Time Homebuyer and Investor Specialist  (Heisler and Mattson)

Steve Bracero

First Time Homebuyer and Investor Specialist

Shrewsbury, MA

More about me…

Heisler and Mattson

Email Me



Links

Archives

RSS 2.0 Feed for this blog