Here’s a fun game.
You know how you hear people talking about increasing rental rates and then include numbers like 5% annual increases? See, funny thing. There is a lot more to that story than meets the eye. Continue reading “Myth Busters. Myth Buyers is More Like It! By Jen Hudson”
This next sentence may be one of those “no, duh!” type statements, but just hear me out. Cities, towns and counties are usually made up of different Continue reading “Zoning. It doesn’t have to be the monster under your bed. By Jen Hudson”
Let me tell you a story. Continue reading “Tired of Treading Water? (Based on a True Story.) By Jen Hudson”
Congratulations! You’ve decided to build your own home. But where do you start?
Now that you’ve drawn up the plans or maybe even picked out your perfect manufactured or modular home, you’ll need to find the land to put it on. It may sound like a simple process. Pick the home, buy the land and move-in, but it’s much more complex than that. Finding that right piece of land can be just as cumbersome as searching for the perfect home, if not more. And, to complicate matters even more, not all real estate agents know land, so make sure you find one that does. Continue reading “12 Key Factors When Buying Land”
Why Real Estate is Better than Stocks
The thing I love about real estate is that it allows you to leverage your money. Here’s what I mean. Let’s say that you have $40,000 to invest.
Option 1: Investing in Real Estate. You find an income producing property, maybe a little run down that is only $200,000. You put 15% down, or $30,000 and still have $2,000 for closing costs and $8,000 for upgrades.
Option 2: Investing in Stocks. Say $20,000 goes into mutual funds and $20,000 into an aggressive stock.
Now, move forward one month. Continue reading “Real Estate vs Stock Market”
There are a couple basic items to consider when looking at an investment property. Just like in real estate, rentals are about location, location, location!
If you are considering a full-time rental property, is it close to schools, shopping or allow for easy commuting? If you are looking at a vacation rental, what is the draw for that area and why do people visit? Is there a golf course, beach or another attraction that brings people to the neighborhood consistently? Even a retirement community? Find out what it is and utilize that. Continue reading “We live in a litigious society. Be cautious.”
If you are a new investor starting out, I recommend starting small.
Duplexes and Mother-in-Law apartments are a great beginning. They allow you to live on one side and keep an eye on the premises while generating income at the same time. Of course, there are drawbacks to this set-up. Continue reading “First Time Real Estate Investor (Part 1)”
There are a couple basic items to consider when looking at an investment property. Just like in real estate, rentals are about location, location, location!
If you are considering a full-time rental property, is it close to schools, shopping or allow for easy commuting? If you are looking at a vacation rental, what is the draw for that area and why do people visit? Is there a golf course, beach or another attraction that brings people to the neighborhood consistently? Even a retirement community? Find out what it is and utilize that. Continue reading “First Time Real Estate Investor: Good Rental (Part 2)”
As with any investment, part of planning is knowing how long you are going to keep it. If you plan on keeping a property for 20 years, chances are you’re going to have to replace the roof, water heater and other items with a limited lifespan. If you plan on keeping the property for only 5 years, then you’ll want to avoid those costly items if possible. Or, at least take them into account with your costs and purchase price. Continue reading “First Time Real Estate Investors: Long Term (Part 3)”
If you are just tuning in and are interested in investment properties, take a minute to browse through my previous articles before you get started. Part 1 – Tips for First Time Investors. Part 2 – Is it a Good Rental? Part 3 – How Long is Your Horizon?
So, you’ve found a couple properties that might be a good investment. How do you know if they are worth it? First, when looking at a potential investment property, use actual numbers, not future projected numbers. Continue reading “First Time Real Estate Investors: Value (Part 4)”