real estate agent: First Real Estate Failure
- 02/20/18 03:39 AM
Buying Real Estate, can be stressful! It took me longer than expected to close on my first property. It was a learning experience that will help me buy my next multifamily property. How did I fail my first rental property? I was making many offers and seeing properties weekly. I saw about 12 multifamily properties, and made 8 offers. I learned making offers is part of the process in real estate. I had a deal under contract in November 2016. It was a 4 plex that needed work. I later learned FHA loans have very specific requirements. The property needed a good 20-40k … (6 comments)
real estate agent: Going Green, Home Tips
- 08/11/17 06:09 PM
Going green can be beneficial for the environment as well as you monthly living expenses! With a few changes, your home can consume less energy and help your wallet. You don’t have to make major changes such as solar panels but you can start with energy efficient appliances or insulated building materials. 1. Heating and Cooling Home automation can be a cheap way to get started. This means turning off the AC in the summer or not running the heat when you are out of your home during the winter. You can have your thermostat connect to your phone and set preferences when … (8 comments)
real estate agent: Beginner Real Estate investing: Key Terms
- 08/04/17 08:10 AM
When it comes to investing in multifamily, it is important to know the key terms to analyze a deal! Cash FlowCash flow is the life of investing in real estate. This is the total amount of money being transferred in and out of your properties. Simply put, this is your income minus expenses. There could be additional sources for besides just rent including laundry income if you chose to offer coin op laundry. Be conservative when estimating your income and expenses. Run them on a worse case scenario. A mistake to avoid is to just include your mortgage, insurance and taxes and … (2 comments)
real estate agent: First Time Homebuyer Here’s What You Need To Know
- 07/31/17 05:09 AM
Buying a home can be a very difficult experience! It is most likely the biggest purchase of your life but less daunting when you know the real estate lingo and what to expect during the purchase process. 1. Start saving earlyYou will need to be putting between 3.5% and 20% down of the purchase price. Your current situation will determine when you are ready to purchase. If you are putting less than 20% down, you will be paying private mortgage insurance (PMI) on a monthly basis. For example a 20% downpayment on a 300k home would be 60k while a 3.5% payment … (2 comments)
real estate agent: How Much Money Do You Need To Invest In Real Estate?
- 07/30/17 07:00 AM
If you are looking to invest in residential multifamily (2-4 units) There are duplexes and triplexes everywhere in Worcester County! With a huge supply, it is possible to get a property under contract for a great price. Before you begin looking for your next deal, it is essential to speak with your lender to see what you are pre qualified for. Your lender will look at your debt, income, and assets. They will give you an idea of the mortgage amount you qualify for. This can be done over the phone or online. Once you have this number, only look at properties … (1 comments)
real estate agent: 15 Top Tips Every Homebuyer Should Consider
- 07/19/17 01:48 PM
If you are in the process of looking for a home it is easy to get overwhelmed by all of the possibilities! Don’t lose sight of the things that you need vs want in a home. This checklist will help decide if the home is the right purchase for you. Location Schools A good school district is vital when choosing a home, even if you don’t plan on having kids. Nearest Starbucks/Whole Foods? Starbucks and Whole Foods spends substantial resources to decide where to open their doors next and strategically places their locations. You home has a higher chance of appreciation if … (8 comments)
real estate agent: 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)
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)
real estate agent: Do You Really Need A Home Inspection?
- 07/14/17 03:50 AM
What is a home inspection? Although not required, a good home inspector will save you big money long term. You are looking for an inspector who can analyze the home's strengths and repairs/ deferred maintenance. In a competitive market, it is common to see homebuyers waive inspections in hope of making their offer look more attractive to the seller. You would benefit from having an inspection if you have not had an inspection completed. The inspection provides you information as an informed buyer to make a decision based on evidence. 1. Pre Inspection After your property is under contract, it is typical … (3 comments)
real estate agent: 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)
real estate agent: Want to Grow? Seek Being Uncomfortable
- 07/12/17 03:35 AM
Are things becoming too easy? Comfort is a killer and can lead to no growth in all areas of life.. A comfortable routine may be great for many, but take action and try something new to learn more about yourself. The discomfort you get from trying something new is pure growth. It opens up new opportunities and makes you realize you are making progress. You are adapting to the situation. The repetition of uncomfortable tasks will build your own comfort zone. Want to grow? It begins outside of your comfort zone.Taking risks, making new connections, and putting yourself out there will … (23 comments)
Buying Real Estate, can be stressful! It took me longer than expected to close on my first property. It was a learning experience that will help me buy my next multifamily property. 
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