If you are looking to put your hard-earned cash into a good investment, you should seriously consider investing in real estate. Real estate is an attractive investment for multiple reasons. One of which is the fact that it is a tangible asset of enduring worth. Even when the economy drags, you may lose some of its worth, but the actual asset is undamaged. This moment, however, is a perfect time to enter the real estate investment field. Why Real Estate is a Good Investment: Immediate Cash FlowUnlike stocks, bonds, and other investments, an investment property can give you immediate cash flow. One of the simplest options is to buy a multi-family rental property. A few hundred thousand dollars down can secure a mortgage sufficient for a modest sized rental. Once the property is yours, all you need to do is manage it. You will start receiving income from rental payments and if these exceed your mortgage payment, that’s positive cash flow. You also get to enjoy the benefits of increased property value over time. You can use this to leverage equity loans to finance further investments. Financing OptionsOne of the most important factors to consider is the interest rate that current mortgages are offering. The higher the interest rate, the larger your mortgage payment is going to be. This can significantly reduce your margins for profit. The mortgage market right now offers record-low interest rates. That means that if you can lock in the interest rate right now, you could finance an investment property with a potential for maximum profit. Why Real Estate is a Good Investment: Current DemographicsAnother key factor for real estate investors is demographics. For those interested in rental properties, it’s best if there are a large group of people looking to rent. Right now, that is exactly the case. There is a huge wave of baby boomers that are starting to look into retirement. They are downsizing their homes and looking for a rental to live in through their golden years. On top of that, the upcoming millennial generation tends to prefer renting over buying. This is in large part because millennials tend to change jobs and move around more than previous generations. Not wanting to be tied down by a house and mortgages, they opt to rent instead. The combined trend of the millennials and baby boomers is creating a huge demand for rental properties. The trick to smart investing is to recognize when a good deal is on the table. A poor investor will tell you to just wait and see. Unfortunately, by the time waiting is over, the deal has disappeared. The current situation is prime for investing, but it won’t hang around forever. Educate yourself and act fast before your chances are gone. Looking to invest in real estate? Find your next investment property in our listings! The post Why Real Estate is a Good Investment Right Now appeared first on Steelbridge Realty LLC. from https://northfortmyersonline.com/2020/12/21/why-real-estate-is-a-good-investment-right-now/
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Purchasing a home in a rural area is exciting, and one in a lovely rural area, even moreso! You’re ready to settle in and get unpacked. But there might be some slight differences from city life which need to be fixed before you finish settling into your new space. To get everything flowing nicely and working well, you need all of your utilities on and have everything running smoothly. Home in a Rural Area: PowerMaking sure you know about power accessibility, especially in case of emergencies, is an important part of knowing how to care for your new home. In regions with variable power outages due to electrical storms or hurricanes, it’s critical to know who to call and how to make sure everything is back in shape. Your region might use an electric cooperative, in which case your rules and regulations might be different than in the city. Various grassroots cooperatives in our state have different ways of handling different outages. Being aware of your individual cooperative’s service rules is an important part of learning about your new community. WaterWhen moving into your new home, you will most likely have well water instead of city water. Care and maintenance of a well, however, is a new thing for many homeowners. The well should be inspected prior to closing the sale so you know what to expect from the property’s water source. The same is true of septic tanks, which also need inspection. You want to make sure that water moving into your home is clean and that it has no concerns with toxins or other issues in the groundwater. Likewise, you want water moving out of your new home to leave quietly and quickly with no roots or other barriers in the way. Home in a Rural Area: InternetIn a Pandemic world, having accessibility to internet providers is critical for both work, education, and leisure time. Families rely on the internet, also, for primary phone services in many instances. You need to know whether your home will need a landline, and how fast internet service is into your new home. If, for example, or only older copper wires available for lower speed services, you might need to prepare additional options if you need to work remotely. Not every area has the same access, and you need to make sure the internet you have is what your family needs. Your new home will absolutely be right for you, once you get everything squared away nicely and are prepared! Don’t forget to make your bed, unpack your kitchen first, and stock your new bathroom with toilet paper. Knowing you’ve done all your preparations for your utilities in advance will bring you peace of mind as you lie down to sleep in your new home! If you are looking for your next perfect home, let us help you find it! The post Purchasing a Home in a Rural Area? Utilities That Might Not Be the Same appeared first on Steelbridge Realty LLC. from https://northfortmyersonline.com/2020/12/21/purchasing-a-home-in-a-rural-area-utilities-that-might-not-be-the-same/ It’s no secret that many people are struggling financially right now. The global pandemic required many to reduce their hours or find a new job altogether. The initial stimulus check provided welcome relief, but with no additional check in sight, the pandemic raging on, and the holidays approaching, it might make sense to find ways to dramatically reduce your monthly living costs. Reduce Your Monthly Living Costs: Refinance Your MortgageYour mortgage is likely one of the biggest monthly expenses you have. You may find it beneficial to refinance your mortgage. Interest rates are currently quite low, so you may find it helpful to renegotiate the terms of your mortgage. There are a couple of routes you can take if you qualify to refinance your mortgage. If you need to reduce your monthly payments, you can extend the length of your mortgage in exchange for a lower monthly rate. You’ll likely pay more in the long run, but your monthly expenses may be more manageable. Alternatively, you can increase your monthly payments, reduce the length of your term, and pay it off faster. It’s more expensive up front, but paying your mortgage off sooner can save you more money and free up more income when you do. Energy Efficient Add-OnsUtility bills can be another major monthly expense. Find ways to increase your home’s energy efficiency to reduce your utility bills. Energy efficient shower heads and leak detectors can help reduce water waste and save you money on your water bill. Installing a smart thermostat can help you control a major source of energy use in your home. Insulating your doors, windows, and attic is also a good idea. Reduce Your Monthly Living Costs: Consolidate DebtIf you have multiple debts you’re paying, you’re likely to pay more in interest than is necessary. It’s also harder to keep track of multiple payments and due dates. Failing to do so can result in fines and have a negative impact on your credit score. Consider consolidating your debt so it’s easier to manage. You may find it helpful to take out a personal loan with a lower interest rate to pay off multiple debts with higher interest rates so you can focus on paying off the personal loan instead. Between the upcoming holidays and the financial struggle that many people have experienced due to the global pandemic, many people are looking for ways to reduce their monthly living expenses. Some of the options include refinancing your mortgage, increasing your home’s energy efficiency, and consolidating your debt. This can help you free up some of your monthly income so you can put it towards rebuilding your savings or other necessary expenses. Read this next: What Every Buyer Should Do Before Closing on a Home The post How to Dramatically Reduce Your Monthly Living Costs appeared first on Steelbridge Realty LLC. from https://northfortmyersonline.com/2020/12/21/how-to-dramatically-reduce-your-monthly-living-costs/ |
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