July 12, 2019 | Home Improvement

Day: July 12, 2019

Things to Consider When Investing in Real Estate

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Real estate investing can be a great way to earn income. Building wealth through property acquisition is especially attractive due to the relative risk and reward. Choosing wisely can significantly boost your assets. Here are some important things to examine when deciding where and how to invest.

Choosing the Right Property Type

As an investor, you can decide between residential and commercial real estate. Residential properties cover single-family homes and dwelling units of four or less. Commercial properties involve five or more units and include office, retail, industrial, multifamily, hotel and special-use buildings. Each type involves different kinds of tenants and loan terms. While residential investing is more hands-on, commercial holdings involve a wider range of opportunities and higher potential income streams. Carefully consider all your options when deciding the type of venture that is right for you.

Location, Location, Location!

The old adage “location, location, location” proves it’s worth when it comes to success. Being close to schools, certain neighborhood amenities and scenic areas are important factors when valuing residential properties. Proximity to major thoroughfares, markets, industrial areas or tax-exempt zones factor significantly for commercial asset valuations. For example, when investing in industrial real estate, it may be important to know if nearby factories are working with wastewater treatment companies to maintain favorable environmental conditions.

Lending Considerations

As an investor, pay special attention to the types of loans involved in residential and commercial real estate. Residential loans or mortgages are typically issued by banks and influenced by the borrower’s creditworthiness. A home buyer can finance property over a long period of time for smaller repayments.  Commercial loans are generally deemed riskier by lenders, yielding higher interest rates and shorter repayment periods. The terms will usually be dictated by the borrowing company’s projected cash flow.

The residual returns from real estate can be significant and should be considered by anyone looking to build wealth. Before you make the leap, do your homework on the type of property and its location. Make sure your investment plans align with your goals.

Summertime Home-Repair Jobs

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Summer is the perfect time to take advantage of the warm days and long nights. Your home has endured a long winter, now that the weather is somewhat cooperating it’s time to get to those projects that you’ve been unable to hit. Roll up those sleeves and get ready for some elbow grease!

De-Funk the Windows

If the home’s interior is feeling dark and shadowy, it could be due to the exterior windows needing a good cleaning. Start from the lowest level and wash your windows with a homemade solution of Dawn, vinegar and warm water. Spray the windows with the hose first, then liberally spray and wipe with a cleaning cloth. Rinse and be amazed at the newfound clarity! (You can buy cleaning cloths wholesale to save you from running out if the windows are really funky.)

Treat Cracks

Windows and doors need to keep you warm and cool when those needs arise, but if they aren’t sealed very well they won’t be able to do their job. Carefully inspect the interior and exterior of your windows and doors and re-caulk as you see cracks. If you see that the weather stripping is worn or torn off, replace it. 

Touch up Paint

It’s always smart to have a sample of your exterior paint in the garage for touching up worn-looking spots. If you notice that your siding is looking a little worse for the wear, replace it as needed and freshen up with your paint. If you have no spare samples lying around, use a piece of your broken siding as a color match at your hardware store.

Taking pride in your home is one important aspect of homeownership. Make room in your summer schedule to tackle the jobs that may fall by the wayside during the long fall and winter months.

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