Food for thought... Using edible landscaping for beautiful gardens.
Spring is here, warm weather approaches, and the cherry blossoms are blooming. It's the time of year when our focus shifts to the amazing gardening opportunities that can accomplish both beautiful curb appeal and a sustainable future.
Time to start looking for a new home? By becoming a registered member of this site, you will be able to connect with every listing in the MLS database. One stop shopping at your fingertips! There's never been a better time to start your home search... Spring is right around the corner and with the change of seasons comes an entirely new inventory of homes for sale.
View MoreSince the dawn of the internet, buying or selling a home has never been easier. With a click of a mouse, you can connect on the fly. Only requirement is patience so the stars can align.
Real estate can present an excellent investment opportunity for those with the patience to stay in the market for a while. As the economy fluctuates, so does the real estate market – but in the long term, you can rest assured that your property will likely pay off in profits. Once you’ve got your financing in order and know what your general business plan, you are left with one pressing question: how will you decide what properties to invest in?
We have some helpful advice to assist your decision. Read through our guide for some quality tips on how you can choose your next property investment, what types of real estate deals you should keep your eyes open for, and some things to keep in mind when you’re getting started with your investment career.
Tip #1: location, location, location
It’s easy to get caught up in the features of a property you want to buy. Seeing newly renovated bathrooms, finding a contemporary kitchen, and encountering state of the art plumbing make investors’ eyes pop with glee. But before you get too excited, it’s important to remember that the location of your property is highly important.
One rule we like to abide by is that the worst property in the best neighborhood is better than the best property in the worst neighborhood. After all, you have some control over how nicely you can renovate the property after you purchase it, but you have no control over what the rest of the neighborhood might do.
If you find a fixer-upper in an up-and-coming neighborhood, your instincts should tell you that that it’s a good opportunity. A little TLC and renovation later, and you’ve got yourself a massive profit.
Tip #2: Keep your horizons wide
When most real estate investors get started, their first thought is that they should buy a unit in a condo complex or a house to flip and sell. While these can be great options, they’re by no means the end of the story. You may want to find commercial real estate to invest in to diversify your portfolio. Sometimes, commercial real estate doesn’t need nearly as much renovation as a residential home, and you are sure to make significant returns if the business that occupies your property is successful.
Don’t miss out on great opportunities like leasing advertising space on billboards and benches, or purchasing land that developers may want to build on. Real estate is a diverse industry, and it’s a shame to constrain yourself to only a certain corner of the market when there’s so much profit to be had across the spectrum!
Know when to cut your losses
We’ve known far too many investors stick with a sunk cost just because they’d already put so much work and money into it. Just because you’ve lost money doesn’t mean you have to lose even more money. If you see that your investment is tanking and you don’t think there’s a good chance for recuperating your funds, it might be time to sell at a lower price.
For example, say you’ve bought a house to flip and rent. However, soon after your renovation is finished, rent prices in the area take a nosedive. Suddenly it looks like you’ll never be able to make back the money you spent while collecting the meager amount from rent you can expect. It might be time to sell the property instead of holding onto it and losing money on property taxes and continued upkeep.
A good investor knows when it’s time to double-down and when it’s time to cut their losses. Figuring this out is a fine balance, and often takes years of real estate experience, so don’t beat yourself too much if you make a mistake early on in your real estate investing career.
Real estate can be a lucrative and rewarding investment to make. With so many options, you’ll be sure to find something in your budget and that suits your portfolio’s needs. Remember, the most important tip of all is that patience is a virtue. The most successful real estate investors are those that know it can take time to see returns on an investment. Good luck, and have fun on your real estate adventure!
Being a landlord in today’s economy can be rewarding, and you can improve your personal and financial well-being. A successful landlord occupation will give you freedom in your personal life so you won’t be stuck in a 9-5 job.
Before you invest in real estate, be sure to ask yourself these questions.
Still interested in rental properties? Good! One of your tasks as a landlord is to find ways to maximize your rental property so you can receive a larger income. Here, we provide you with five helpful tips to minimize your expenses to increase your return on investment. We’ll teach you how to find the right location, tenants, and contractors.
Location, location, location. This is the mantra of every real estate agent and they all know this is a key factor in attaining a property with a high value. When you’re searching for ways to maximize your rental property, it’s important to conduct research on the area you’re looking to invest in. One way to easily search for homes is through real estate apps that doe the scouting for you. Alternatively, there are plenty of sites that do the same! You can search for houses, identify the right area, and buy, all from the comfort of your own home. They help to find homes in high-value areas, like Burlington County in New Jersey. It’s important that you take time to do thorough research so you can find a property you truly love.
Rental homes face small and large scale problems. Sometimes you’ll buy a property where the walls are damaged. Other times you’ll find that the property has faulty plumbing. Some handy landlords are good at fixing these problems on their own. But you should always hire a professional contractor if you’re not 100% certain you can fix the problems yourself.
Working with contractors is easier than ever thanks to handyman software, which helps them adhere to local building codes. You always want to make sure that you hire contractors who are organized and professional. If not, you may risk losing value in your property from poor repairs, which can lead to even greater property damage.
After you spend countless hours finding the perfect property to rent to future tenants, you don’t want to risk losing money or having to pay more expenses than you have to because of a difficult tenant. Screening tenants and obtaining background checks can help you find reliable, long-term tenants so you avoid the expense of missed payments or dealing with evictions. Screening tenants is one of the many ways to make your life easier as a landlord. Finding low-risk tenants will bring you peace of mind. It’s nice to know your rental property will be taken care of and payments will be received on time.
It’s crucial to create a strong rental agreement for your tenants to sign. Failing to create a rental agreement can often leave you with a financial burden that could force you to sell the property to make up for your losses. In order to maximize your rental property, landlords can use online websites like eforms that have templates you can use to create your rental agreement. Using online tools to create your own rental agreements will help you save time and ensure that you are including crucial components to your rental agreement, like when rent will be paid, the security deposit amount, information on utilities, and more.
Finally, using apps like Thumbtack can help you find tax professionals in your area so you know you’re getting your maximum deductions. Finding a tax professional can help you maximize your rental property by helping you calculate your deductions such as interest, travel expenses, home office expenses, repairs and more. When it comes to filing your taxes, you may find yourself overwhelmed with tracking and calculating all of your expenses on your rental property, which is why consulting with a tax professional can help maximize your rental property. In Conclusion
It is always important to take time to research the numerous components of what it takes to own a successful rental property that will provide you with a steady income. From finding the right location to buy property to hiring professional contractors, use these tips and you’ll be on your way to a lucrative rental business.
If you’re thinking of investing in real estate to turn it into a rental property, there are a few things you should know before diving in. Being a landlord is a lot more than just sitting around collecting rent and making a huge profit. For example, you’ll have to review credit reports of prospective tenants, process rental applications, draft rental agreements, maintain the rental property, and follow up with tenants should any issue arise – just to name a few responsibilities.
Here are five tips that may make your life as a landlord a little easier:
Screen Prospective Tenants Thoroughly
Properly screening your prospective tenants can be a huge boon for your rental business because it may help lower the risk of expensive evictions and other problems.
Ideally, you should do a credit check for landlords so that you can gain a full understanding of your possible tenant’s financial background.
With a credit check, you can glean information about a potential renter’s financial health such as:
Applicants’ credit history
A prospective tenant’s risk factors (a large, unpaid debt, for example)
National and statewide criminal records
Eviction reports
Income data
Will your applicants be able to afford the rental property? Find out if you need additional income verification with this information
If you end up allowing a tenant to rent from you, keep all their information in one place with apps like Landlord Studio.
Foreclosed Homes
If you choose to purchase a home that’s in foreclosure, make sure you know what you’re signing up for with this sometimes complex investment option. A smart buyer will consider a variety of factors before signing a deal.
Elements to consider when you’re buying foreclosed property:
Surrounding area: Is the neighborhood around the area well-maintained? Are other homes also in foreclosure in the area?
Home maintenance: Has the home been properly maintained? Is the property up to building codes? Is the home in an overall good state?
Dealing with current residents: Will you be leasing to the current residents or will you evict them?
While there are positives to investing in property under foreclosure, there are also considerable risks you may want to take into account.
Consider Older Tenants
Older adults are some of the best tenants you could possibly have. They are usually more responsible and tend to have more savings than the younger crowd. With younger tenants, you might have issues with partying, drinking, and property damage more than you would with older residents. However, make sure you’re following anti-discrimination laws when you are screening potential tenants.
Move-In and Move-Out inspections
As a landlord, you should do a walk-through with your new tenants and make sure to take photographs. This will help ensure your tenants don’t leave the property damaged and then try to claim later that the damage was preexisting.
In addition, it’s a good idea to have your possible tenants fill out a sheet making note of any damage to return to you so you can sign it.
Create a Strong Rental Agreement
A good rental agreement protects both the landlord and the tenant. In the rental agreement, you should have all the conditions and terms of the lease outlined in clear, concise language. Here are a few things you should include on your rental agreement:
Names of everyone living on the property
Occupancy limits
Terms of tenancy (for example, six months or year lease etc.)
Rent and deposit
Quiet hours policy
Pet policy and pet deposit
Fees for late payment of rent and noise complaints etc.
Repairs and maintenance
Will the tenant or the landlord be responsible for paying for repairs?
As a landlord, it’s a good idea to use apps like Thumbtack to find reputable technicians to fix any house issues that you can’t fix yourself
Your contact information and hours of availability
Prohibit illegal activity explicitly to avoid lawsuits and liability issues should you have any issue with your tenants
In Conclusion
As a landlord, there are a lot of different aspects of renting that you will be in charge of including collecting rent, establishing a habitable environment for tenants, and taking care of required maintenance as outlined in the rental agreement. However, by taking certain precautions like setting up a robust screening process, you can better protect yourself and be on your way to creating a real profit.
When you first start looking for properties to invest in, you may be overwhelmed by the amount of choices in Burlington County. If you are looking for your very first investment property, this can be nerve-wracking. Research is the key to finding reliable Burlington County real estate to invest in. Working with a real estate agent can help you find some of the best quality real estate in Burlington County, as they know the area well and the experience necessary to find good properties.
There are a lot of choices available when it comes to property for sale in Burlington County. This means there are plenty of opportunities for investors to make money in the area. When it comes to investing in 55 and over communities, your options will include rental properties and flipping homes. While that might not seem like a lot, a diverse marketplace gives you several different options.
For example, much of the Burlington County real estate for sale is comprised of homes; however, you will also find apartments, condos and townhomes for sale. Foreclosure homes for sale in Burlington County 55 and over communities can also provide unique rental and flipping opportunities.
Each city has its own 55 and over communities, and each area is a little different. The best Burlington County realtor will be able to show you several different communities if you are unsure where to start. Some of the best homes for sale in Burlington County can be found in Bordentown, Cinnaminson, Columbus, Moorestown, Westampton, Tabernacle and more.
Only a few of these communities are limited to apartments or condos. With a little bit of research, you will quickly discover that there are diverse opportunities in each area. Leisuretown in Southampton, for example, offers a mix of one story townhomes and low-maintenance single-family homes.
To help you decide how you want to invest in real estate Burlington County has to offer, talk to an agent. Experienced real estate agents can help you find successful ways to make money with the current market. This can save you time and money, allowing you to start investing right away.
Most buyers go through the difficulty of searching for the right home to buy, with the market growing even more competitive, it gets harder to search for the right home that fits your needs. A professional Gloucester County real estate agent can help you with your new home search, taking the time to understand exactly what you need, a real estate agent in Gloucester County can easily help you find the home you always wanted. Different people have their needs and a realtor in Gloucester County will know exactly how to fulfill them. Buyers also get options for discounts when working with a professional and a guidance on what would be the best options available. There are also many things you will get to know when buying your home with a hired professional.
Many people find it best to buy a bank owned property, it obviously has its advantages and a real estate agent in Gloucester County can help you get the best deals.
Just like other property, bank owned property requires to be bought through a realtor in Gloucester County. South Jersey Realtor’s, Roxanne Ardary of Long and Foster Real Estate, Inc have helped many in finding their dream home at the right price. With years of experience as real estate agent in Gloucester County, we will make sure to keep you at ease and help you in buying the right property.
A buyers satisfaction is kept at a priority, making sure you get the dream home you always wanted. A professional realtor in Gloucester County will provide you with many options like home designs and locations, communities that would be an interest to you. Hiring a professional will give you the comfort and ease of finding the right house without spending hours finding a good house in a preferred location.
The best Gloucester County real estate agents have served many and make sure you get all the benefits which will help you make the right decision. Dealing directly with homeowners can cause many issues and you may overlook a few things due to lack of knowledge but with a professional that will not be the case.
Real estate owned also known as REO is a common term used for properties owned by any financial institution after an unsuccessful sale of property in a foreclosure auction or a short sale. The real estate comes in the position of a foreclosure when the borrower is unable to make and sustain monthly payments to the lender that results to a foreclosure.
Investing in a foreclosed or REO property in an upcoming neighborhood in Camden County can help you tap into a lucrative business that can reap you profit over time. As these homes are sold for less than what the market has to offer, these homes can be bought, repaired and either be put on rent or hold to get the right price of the property.
There are two types of stages a house has to undergo before it is marked for sale by the financial institution. You have three chances to buy a foreclosed or REO home with an experienced Camden County real estate agent that can help you get that home.
Here are the phases a property undergoes before you can buy at an affordable price:
Purchasing a property at any stage has its own pros and cons. Camden County real estate can help you make the right decision and decide on the perfect stage to buy a particular property.
Apart from the issues you can face while deciding on the 3 stages to purchase a property, there are many other factors Jersey real estate can help you overcome.
South Jersey Real Estate can help you find the most suitable real estate for active adults in Camden County. America is aging and investing in a community that serves senior citizens is a viable and lucrative option. Camden county communities provide a range of amenities for those who plan to retire or just want to upgrade their lifestyle. Contact us now for a more detailed overview regarding foreclosed and REO homes and the benefit you can get by investing in them.
Image Credit: pixabay.com
A REO also called Real estate owned is a property that is owned by a lender that can either be a bank or government, after the foreclosure of the estate due to non-payment. For those who do not know whether to buy a foreclosed property must consider getting an in-depth knowledge of foreclosed homes for sale in Burlington County as their ideal choice for a Burlington County real estate.
A property does not go into a REO just after a default, instead the beneficiary is given time for a short sale or a foreclosure auction to make the remaining payment. If the beneficiary is unable to do so, the property comes in the label of a REO.
Some of the people miss out the opportunity of buying a foreclosed home as they consider it be risky. However, a REO property is the safest buy as all of the debts associated with home are paid off before it is marked for sale. Nowadays, most of the real estate investors are tapping into this opportunity by buying a REO property due to the benefits associated to it. Here are some benefits you may get if you choose to buy a REO property for sale in Burlington County:
Most of the investors have started to invest their money in distressed or repossessed properties because of the benefit it provides it terms of cost and a better neighborhood. It is a fact that most of these properties will go up in price within some time and investors may be able to reap profits out of it. If they tend to sell the home immediately they can also renovate and repair if the real estate is worth it. Repair and upgrade also give investors a chance to rent their property in order to earn steady income while the real estate price hikes with time.
Unlike most of the real estate companies, South Jersey Real Estate provides a more personalized solution and experience to its clients. With over 55 plus communities and hundreds of homes to choose from, we can provide you a chance of your lifetime to either invest or buy a repossessed property for yourself.
The communities are for aged and active adults who want to upgrade their lifestyle or plan their retirement, these properties provide several amenities to choose from. Our housing and real estate properties range from condos, townhouses, single family detached homes to two- story accommodations.
For investors who plan to invest their money in REO or foreclosed properties, we can provide a complete guide on properties condition and potential profit you can make through that real estate.
Age restricted communities are one of the best options to invest your money. America’s growing aged population means that there will be more buyers for these properties than ever before. More buyers will in turn create a huge demand for such communities. We have helped hundreds of investors in buying, selling and renting out reliable Burlington County real estate.