Owning rental property might be a good way to build wealth for retirement, but becoming a landlord may not be as easy as you think. With rental property ownership comes tons of responsibility. You’re the owner, landlord, and maintenance man, which means you’re the one who gets the call in the middle of the night when the toilet is overflowing. Before you invest in rental property, consider these tips.
When you’re getting your house ready to go on the market don’t forget to clean out the garage. Or as I like to call it, “your in-home storage unit”. You should declutter your garage just like the rest of the house. Buyers want to see a clean garage where all their stuff will go, not all your stuff that’s stuffed in there. Here are a few tips on how to return your garage to its original purpose: to house your automobile (which is probably full of stuff).
Lots of people watch those house flipping shows on HGTV and think, “Hey, I can do that. How hard can it be?” HARDER THAN YOU THINK, CHIP!! Successful house flipping is not only hard, it can be expensive and risky. There’s no quicker way to lose every cent you have and find yourself neck deep in debt. So before you jump out there and buy some old house to flip, heed these words.
Many times curb appeal stops at the front door. It’s not enough to have great curb appeal from the front, but your backyard must be equally impressive.
I hear it all the time. “Tim, you have to find us the perfect house!” The truth is, there’s no such thing as the perfect house. Sure, a house might seem perfect at the moment, but within a few weeks or months the warts will begin to show. Perfection is temporary. And just a point of view. Rather than focusing on the perfect house, focus on finding the “nearly perfect” home that suits your needs now.
Even Zillow says their popular Zestimate feature is a ballpark guess at best and doesn’t reflect the true value of a home. Still, everyday I hear someone who takes the Zestimate as gospel… Poor misguided foolz…
Most sellers are unrealistic about the true market value of their home. Most buyers are unrealistic about how much home they can actually afford. Until both sides bring their expectations down to earth, it’s impossible to do a deal.
Finding the perfect home can be quite an undertaking, but don’t feel rushed into making a decision without first considering all of your options. According to Industry Research, the majority of home buyers saw fewer than 11 houses. In fact, people who saw thirty or more houses only counted for five percent of all sales.
Before you settle on a new home you should thoroughly check out the neighborhood at different times of the day and night. A neighborhood might be calm and peaceful during the day, but all hell might break loose at night. Here are a few tips to help make sure the neighborhood is the right one for you and your family.
When shopping for a new home the word proximity should be top of mind. How close is the house to schools, shopping, restaurants, doctors, work, friends, family, etc. You might find the perfect home but if it’s off the beaten path, the allure may wear off quickly.