real estate investng: 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 investng: 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 investng: Investing In Worcester County Massachusetts - 07/29/17 07:09 AM
Are you interested in learning real estate investing?If you are new to real estate investing, it is smart to invest in your education for real estate investments. There is some upfront knowledge that can benefit you to prevent you from making mistakes on your purchase.Real Estate investing in the Worcester County area can present many opportunities. There are many mistakes that can be avoided by learning about the area and demographics of the towns. Keep in mind, there are no “perfect” investments but you can build wealth if you buy right! Here are some tips to know before you buy in … (1 comments)

real estate investng: 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)

real estate investng: 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)

real estate investng: 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)

real estate investng: 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 investng: 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)

real estate investng: STOP These 5 Habits to Help Purchase Your First Investment - 07/06/17 04:24 AM
What is preventing you from purchasing your next investment? Small seemingly insignificant purchases add up over time which prevent us from our next investment. Hopefully, you already know what income you have coming in as well as your expenses. Here are five habits to break to assist you in saving for your next investment.
1. Housing
This is most likely the majority of you monthly income, your largest expense. The goal should be spending no more then 30% of your income on housing. Consider where you currently live- can you possibly get a roommate or move to a less expensive area? … (9 comments)

real estate investng: 3 Reasons Why An Aspiring Investor Needs to Journal - 07/04/17 04:06 PM
Can a simple practice such as journaling help you reach your goals? Journaling on a daily basis will help keep your focus and keep your focus on your goals. Writing down your thoughts is what many investors, businesspeople, and entrepreneurs has assisted them in reaching higher goals. Below are four reasons why journaling will help you as in investor.
1. Focus
One habit you can begin is reviewing your goals on a daily basis. The attention that you place on your goals, through journaling will allow you to hone into what important activities need to get done on a daily basis. … (3 comments)

real estate investng: One Secret You MUST Apply to Your Daily Habits - 07/03/17 05:01 AM
Want to improve your life?
Take a look at your daily habits. The biggest secret you must apply to your daily habits is the ability to self assess! Self assessment is the ability to evaluate your actions or daily performance.
This may seem difficult at first, but it is necessary to grow.
Self awareness will keep you on the path of continuous progress.
To begin, you need to understand where you currently are and where you want to be in the future. This is a difficult question to ask yourself. Be honest. Do you have goals? Do you want to begin investing in … (2 comments)

real estate investng: 7 Reasons to Invest In Multifamily - 06/30/17 04:54 AM
Are you considering investing in Multifamily? There are numerous benefits on why to invest. As a newer investor, consider why you want to invest in real estate:
Loan paydown (tenants build you equity). You are not paying the mortgage yourself! Over time, you are building wealth since you are paying down the loan. Keep in mind, when analyzing a rental property you also want to include vacancy so you can cover when you need to rent your units.
Cash Flow (Income- Expenses, passive income — IF you buy right!). You have control over your investment. Your job as an investor is to see … (2 comments)

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

Steve Bracero

First Time Homebuyer and Investor Specialist

Shrewsbury, MA

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Heisler and Mattson

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