Real Estate

How to Get Into the Real Estate Investment Game by Andrea Needham

Buying an investment property can provide you with long-term passive income. But to be successful, you’ll not only need to find a profitable property but also find tenants and manage the property. This might include making regular upgrades and repairs and troubleshooting issues as necessary. Read on for a few pointers from Shippy Realty & Auction on how to get into the real estate investment game.

Getting Started

Before you start looking at potential investment properties, you’ll need to consider how your operation will be structured. There are a few choices, including operating as a sole proprietorship or a corporation, but many small business owners opt to form a limited liability company (LLC). As an LLC, not only are your personal assets protected, but there are tax advantages, and less paperwork is required. Get educated on how to start your business with the ZenBusiness starter primer.

Next, ensure your finances are in order. Buying an investment property is much like buying a primary residence, in that you’ll need a down payment, and your credit will need to be in good standing to qualify for the best rates and terms. Check your credit, and report any inaccuracies, and talk to a reputable lender about the best loan products available for purchasing a rental property.

You’ll also want to research the local market to get a feel for prices and availability and to assess typical vacancy rates in the area where you’re planning to buy. This will help you understand what you can afford and what you’ll be able to charge in rent.

A knowledgeable real estate professional can be a major asset when you buy your first property. The Shippy Realty & Auction team can provide expert insights into investment property available in the Portland and Vancouver area. 

What to Look For

There are several things to consider when buying an investment property, including age and condition. According to Old House Online, the older the home, the more likely you’ll be making regular repairs. So if the house isn’t in great shape, you’ll need to factor in what it will take to get the property into good enough condition to rent. Also, consider the potential for appreciation; you want a property that’s anticipated to go up in value.

Location is also an important issue. If you buy something outside of your geographic area, you may want to hire a property manager to handle basic management needs on your behalf. Otherwise, you’ll be traveling and trying to manage it yourself long distance.

Making the Purchase

A real estate professional can help you find appropriate properties in your price range. You may opt for a single-family residence, like a house, townhome, or condo, or you may prefer the idea of multifamily housing, like an apartment complex. It’s wise to conduct a thorough inspection before making an offer, and if you’re looking at a place that needs significant repairs, bring in a general contractor to give you an estimate, both for indoor and outdoor work.

For example, if you want to replace your roof – which will cost between $2,000 and $6,000, depending on size and materials – outline your needs, get written estimates, read reviews online, and make sure contractors are licensed and insured. It’s never been easier to find a qualified fence pro; simply do an online search for “best roofing company near me” and check out Angi’s list of contractors.

Getting Ready for Tenants

You’ll want to move quickly after the property closes to start advertising to prospective renters. You’ll be paying the mortgage every month regardless of whether you have paying tenants, so getting residents lined up as soon as possible will ensure you’re generating income right from the start. According to Rent Prep, it’s advisable to consider how you’ll want to screen and what kinds of deposits you’ll require. The first and last month’s rent and security and cleaning deposits are standard. You may also opt to conduct a background check and/or review credit scores as well, or ask for references from previous landlords.

Investing in a rental property can help you generate passive income as well as serve as a viable long-term investment. Conduct your due diligence and get your finances in order to ensure a good outcome, and reach out for expert help where appropriate.

Shippy Realty & Auction represents buyers, sellers, or auctioning any homes, commercial, or land (cropland & grazing land). Reach out to us today for all your real estate needs! (605) 842-3212

Photo by Pixabay

Home Selling

THE IMPORTANCE OF CLEANING SERVICES IN THE REAL ESTATE by Eliza Brooks

The importance of cleaning services in real estate has become increasingly popular during the past five years. Many are
turning to real estate investment as a means of bettering their financial future. Whether
you are looking for an attractive property to buy or sell your own, there are several
factors that go into determining what makes a house price-worthy. When you have
everything in order, getting your home sold can be fast and easy. One of the most
important factors when selling your home is to make it as attractive as possible.
However, before you put your house on the market, it is important to get it thoroughly
cleaned. One of the most important factors when selling your home is to make it as
attractive as possible. This can be accomplished by decluttering, decorating, and
keeping the house clean. Cleaning services can make a difference between getting your
home sold and having it sit on the market indefinitely. In this article, we will discuss the
importance of cleaning services in the real estate market.

  1. First impression matters
    One of the most important aspects of selling your home is its first impression. When you
    walk into a potential buyer’s shoes, what would they see? There needs to be nothing in
    your house distracting them from their main purpose: buying a new home. If they start
    looking around and see dust and old grime, that is not going to help your cause. Provide
    a clean home for your potential buyers and you will be on your way to getting your
    house sold quickly. What they see first will be a lasting impression.
  2. Helping potential buyers envision themselves living in the space
    A good quality cleaning service can help create a blank slate that will allow potential
    buyers to imagine themselves living there. This is one of the most important aspects of
    getting your home sold quickly. The faster a potential buyer can visualize themselves in
    the house, the more likely they are to put in an offer. By providing a clean and fresh
    home, you allow for this important quality of imagination to take place. This will help
    speed up the process.
  3. Get a better price for your house

Cleaning services are not just to help your house look better. You must clean up before
selling, even if it means putting in some initial time and money. You will get a higher
price if the home appears well taken care of. Having deep cleaners come through can
make all the difference in getting your house sold for top dollar. They will clean areas
that you could not reach, making your home appear up to date and technologically
advanced. This is another factor that can help raise the overall price of your house.

  1. Increase the number of potential buyers
    There are many reasons why people do not buy a particular house or property. One
    contributing factor may be small details you cannot see. Some may be turned off by the
    presence of clutter in a house. Deep cleaning services can provide your home with a
    fresh and appealing look that will attract many potential buyers. When people feel
    comfortable in a space, they are more likely to make an offer. This is another factor
    when considering why deep cleaners can help raise your house price.
  2. Hiring reputable cleaning services can help you avoid damaging your
    home and belongings during the cleaning process
    There are times when we try to save money by cleaning our own homes. Although this
    can be satisfying and fun, deep and thorough cleaning is not something everyone can
    do well. By hiring a reputable cleaning company, you can avoid taking chances with the
    safety of your home and belongings. They have experience in ensuring that each nook
    and cranny is clean and clear of all types of dirt and grime. This attention to detail is
    also another factor that can help with the sale of your home.
  3. Cleaning companies have access to specialized equipment and cleaning
    products
    There will be certain areas of your house that you may not be able to reach on your
    own, such as under the appliances and furniture. By having a cleaning service come in
    and help, you will be able to enjoy the benefits of specialized equipment that can reach
    those out-of-the-way places. They will also have access to specialty cleaning products
    that can provide your home with a fresh look and feel. Cleaning service providers know
    what kinds of products work well for different types of surfaces and fabrics. This
    knowledge will also help increase the value of your home tremendously.
  4. Offer more than one service
    The great thing about cleaning services is that they offer a wide range of different
    cleaning services such as carpet cleaning, window cleaning, and tile and grout cleaning.
    If you need help with a certain area of your home, be sure to specify it when talking to
    potential providers. This way, you can hire the one who offers the kind of service you
    are looking for without having to pay more than necessary. You can narrow down your
    list of companies to find the one that offers the services you need at a price that is within
    your means.

Cleaning services play a major role in the real estate industry. When having your house
cleaned properly before putting it on the market, you are giving potential buyers a clean
space to imagine themselves living in. This will lead to higher offers and speed up the
process of selling your home. Cleaning services can access many parts of your house
using specialized equipment and materials. They can guarantee that your home is both
visually and structurally attractive, making it easier for you to enjoy the benefits of a
clean environment. Many various sorts of cleaning services are also available, including
carpet and window cleaning, making it easier to get the service you want at a price that
will not break the bank. So, when looking for ways to make your home more appealing,
be sure to make cleaning services a top priority. allamericanboise.com

Lawns

Fall Care for your Lawn

Fall is the best time to care for your lawn. You will get a better kill on perennial weeds now than in the spring. The weed in the fall will be taking more nutrients down to the root for the winter and if you spray a weed killer now, they will take that down to the roots also. Use a chemical like Weed-B-Gon other any 2,4-D based herbicide. You can spray until a hard freeze (28 degrees).

Fall is also the best time to put on a fall-based fertilizer. This will help the lawn regain strength, especially after the long hot summer we had for better spring growth. You can apply anytime until the first of November. Mow the lawn before applying fertilizer leaving the grass clippings to insulate the lawn for the winter. Make sure the grass blades are dry and water afterward.