Now is a Great Time to Invest in a Rental Property

The real-estate market is starting to recover: U.S. houses lost $489 billion in value during the first 11 months of 2009, but that was significantly lower than the $3.6 trillion lost during 2008 and things only continue to look up.

While the timing may be right, you will need to have all your ducks in a row. An investment purchase is different than your typical purchase.

Consider your options.

Have a strategy and know what kind of investor you would like to be. Ask yourself if you want to be a landlord, or are you planning on flipping or restoring and reselling properties. What types of properties are you interested in? There are many choices from land, to apartment buildings, residential housing and other commercial real estate.

Partner with experience.

Real estate agents experienced in investment property deals know what to look for in a deal. You may also want to consider asking a more experienced real-estate investor for advice. If you plan on becoming a landlord make sure to familiarize yourself with the local laws regarding being a landlord.

Location, location, location.

If you buy a property with hopes of renting it out, location is key. Homes in high-rent or highly populated areas are ideal; stay away from rural areas where there are fewer people and a small pool of potential renters. Also, look for homes with multiple bedrooms and bathrooms in neighborhoods that have a low crime rate. Also think about potential selling points for your property. If it’s near public transportation, shopping malls or other amenities, it will attract renters, as well as potential buyers if you decide to sell later. The more you have to offer, the more likely you are to please potential renters.

Have capital lined up.

Speak to potential lenders or a financial planner about what you will need for assets and cash flow. You will need to have enough assets to handle the ups and downs that could come with investing. Most experts suggest a fallback of about six months of mortgage payments for landlords. You will need this in case or vacancy or repairs. If you’re planning to fix up a home and sell it, you will need reserves to cover the costs to maintain the home while it is on the market.

Becoming a real-estate investor is much different than being a residential homebuyer. A buying decision is a business decision not one based on emotions.

Open house on 12/4/2016 at 78 Fairmount St New Bedford, MA 02740


Date: 12/04/2016 Time: 12:30 PM to 2:00 PM  
For Directions: feel free to contact me.  
For more information: click here for the full details  

Sought after 3 bedroom 1.5 bath ranch located near Buttonwood Park with easy access to Rt 6 and 140. Fireplace living room with a nice bay window, separate dining area and the kitchen has nice wood cabinets. The master bedroom has a master half bath and the unfinished basement has a second fireplace and would make nice additional living space. Maintenance free with vinyl siding and newer roof/windows. There is an enclosed sun room overlooking the fenced rear yard. Garage parking. Some cosmetic updates will make this home shine and there are wood floors under the ww carpet. Act now!

Eliminating Clutter

Clutter often takes many years to accumulate and will take some time to eliminate. Just remember that de-cluttering is an ongoing lifestyle not a finite project. Many people feel overwhelmed and fear just the thought of de-cluttering the home. It doesn’t have to be that excruciating, there are actually some creative ways to get started.

Getting started can be the hardest part. You have to begin your war against clutter one draw or cabinet at a time. Just pick one area of the house and focus on that. It is best to start a de-cluttering session by designating one hour a day to it. If that still seems over whelming for you, start with five minutes a day. You will be surprised what you can accomplish in the clutter war in just five minutes. Remember that any type of progress is better than none. The important thing is to make sure to stick with it each day, or even every other day. Avoid planning an all day de-cluttering session that involves your whole house, as you will never get around to it.

Donate or dispose of items you no longer have any use for. Look at items that you feel an attachment to and ask yourself the following three questions: Do I love it? Will I have a need for it again within 3 months? Will I miss it if I throw it away? If you answered no to the questions then you can safely dispose of the item. If you answered a definite yes to these questions, take those items and put them into an organizational bin. Once the bin is full place it in an out of way place in your home and revisit it in about 6 months. If you were able to go that long without needing anything from the bin, chances are it is time to donate or dispose of the items. Don’t forget charitable donations to the Salvation Army and Goodwill, etc. are tax deductible.

Probably one of the best ways to let your junk go is to watch an episode of Hoarders on television.

How to Prepare for a Long Distance Move

If there’s one thing more stressful than moving it’s moving over long distances. Moving far away often means new jobs, new friends, and a new way of life. It’s a big change that doesn’t need to be made any more difficult by a complicated moving process. In this article, we’ll cover some ways to prepare yourself for a long distance move so that you can rest easy knowing you’re ready for this new chapter of your life.

A new home, a new lifestyle

If you’re moving across the country you probably don’t know where to begin when it comes to preparing yourself. A good place to start is with the basics of daily life. Ask yourself these questions before you start packing:

  • Do I have the right clothes?
    You don’t need a whole new wardrobe before you move, but you don’t want to brave a Northeast winter with just a sweatshirt either.
  • What can I get rid of?
    Think about all of the items you have and how much you use them. If you haven’t used something in a year there’s a good chance it’s not worth hauling across the country.
  • How much space will I have?
    If you’re moving into a house bigger than the one you have now you might not need to part with many bulky items. If not, consider having a yard sale before you move.
  • Do I know enough about where I’m moving? 
    When moving to a new place, you’ll want to know where the closest hospitals, gas stations, and grocery stores are. Explore Google Maps and websites for the area you’re moving to to get to know the place beforehand. Write down important addresses and telephone numbers.

Create a timeline

With all of the changes that are about to happen in your life, odds are you’ll get overwhelmed with many of the details of moving. Create a moving timeline, whether it’s in an app on your smartphone or on a piece of paper. On this timeline, write in dates you’ll need to accomplish certain items by. Here are some sample items for your timeline:

  • Pick a move-in/move-out date by today
  • Choose a moving company by today
  • Sell or donate unwanted items by today
  • Sign paperwork and exchange keys today
  • Donate clothes by today
  • Going away party by today
  • Pack up office by today
  • Pack up living room by today

Packing your belongings

When packing for a long distance move there is more pressure to do it right and not forget anything. Follow these packing tips to ensure a safe travel:

  • Take inventory. Use an app that helps you categorize your belongings. Check off important items as they’re packed and cross them off as they’re unpacked at your new home.
  • Pack one room at a time. This will help you keep everything together and ensure you don’t forget anything. It will make unpacking much easier.
  • Don’t forget to label all your boxes. Keep that Sharpie in your back pocket at all times.
  • Communicate. Make sure everyone who is moving with you and helping you move are all on the same page when it comes to packing so that no details are overlooked.
  • Use extra padding. A longer drive means more opportunities for something to get broken along the way. Pack boxes full and put fragile items on the bottom of the truck.