Is the Market Ready for Me to Invest?

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You’ve been considering an investment in real estate but are you really ready? Putting your money into something you haven’t done your homework on could be detrimental. You may even have all the tools, but are still straddling the fence. How will you know it’s time? Here are a few signs that indicate you have some ways to go:

Long-term Investment Strategy

If you don’t have one of these, you aren’t ready. Although flipping homes and other elements of getting into the real estate game may seem attractive, all the income coming in is tied to you doing “work.” When you stop doing it, the money stops to. An actual investment strategy means once you’ve found the home, did the work and found the tenants, the income continues rolling in. That means your assets continue to grow year after year.

Finances Need Work

Are your finances in order? That means you’re living below your means and are saving a good amount of your income. How’s your rainy day fund? If you don’t have at least three, six to a year’s worth of expenses that you can quickly get to, investing in something that may not give you a return on your investment doesn’t really make sense.

Insurance

Do you have insurance? It’s important to have at least a term life insurance policy that’s 10 to 12 times your income.

Credit

Unless you have the cash to pay for your investments outright, you need to have a high enough credit rating that allows you to get the financing you’ll need. While your credit doesn’t have to be perfect, it should be good enough and showing indications of improving over time.

Capital

Capital is the name of the game. You should have access to enough capital that will allow you to secure long-term financing to get those properties when you want. Take a look at your risk profile. Purchasing high quality, low-risk property instead of maxing out the capital you have can make a difference. If you don’t have the capital, you’re not ready.

While you’re giving these areas some thought, it’s also a good thing to look at the market. While there are always ongoing talks about a recession, consider the stock market. Which one is riskier? Market stats are usually based on the entire country, but real estate stats are only based on specific cities, properties and neighborhoods. That means even if a recession hits, each property is impacted in its own way.

It’s time to study how to beat a recession if one hits and know the fundamentals. If you have a property that provides significant cash flow now, chances are it will during a recession as well. If you have quality properties in high-demand areas, you can withstand a market downturn. The goal is to make a recession an opportunity if you can. It’s time to get things in order. If you purchase the right property in the right area, you’ll be just fine. 

Should You Try Selling As A For Sale By Owner?

Many sellers rely on agents to help them to deal with the task of selling their home. If you’re looking to buy or sell a home, a real estate agent isn’t required. There are many advantages and disadvantages to selling your home as a “For Sale By Owner” (FSBO). Read on to discover the good and bad of selling your home on your own. 

The Pros

Avoid Paying Commission

Real estate commission is the main reason that many sellers choose to go it alone. You’ll pay about 6% commission on the sale of your home between buyers and sellers agents. When figuring out the asking price for your property, this number that you’ll pay for a commission is included. This sale price also should be enough to pay off the remaining balance on the property. If you don’t have a lot of equity in your home, an FSBO may be your only option if you can’t afford the commission. Another option is to wait to sell your home until you have built up enough equity for the transaction to make sense for you. 

You Can Find Other Resources To Help You Sell The Property


There are so many resources available to FSBOs in today’s market. Yards signs aren’t the only thing that sellers can use to get people interested in their property. Many websites and resources assist people taking the FSBO approach. You still may not be able to get your property listed everywhere if you’re not a real estate agent. 

Cons

You Won’t Be Able To List The Property Fully

Only licensed real estate agents have access to the MLS, where buyers’ agents and other websites pull available properties.  Not having access to this can be a deterrent to the marketing of your home. You could miss out on getting many home showings that you otherwise would if your house was listed on the MLS. 

There’s No One To Help You With Paperwork And Negotiations

Real estate agents certainly earn their commission. There is a lot of work in both selling and buying a home. If you hire an agent, he’ll be taking phone calls, sending off forms, and dealing with the negotiations on the property. An agent will also coordinate home showings and have the ability to show your property when you’re unavailable. If you go it alone, you won’t have that assistance and may be a bit overwhelmed during the selling process.

A real estate agent also understands the lingo better than someone who has been outside of the business. There are many advantages to paying his fee if you decide to hire him for the sale of your home.           

Another Property Sold – 90 Taylor St Unit 3 Waltham, MA

This Condo in Waltham, MA recently sold for $541,750. This Townhouse style home was sold by – Coleman & Sons Real Estate.








90 Taylor St,



Waltham, MA 02453

Condo

$549,900
Price

$541,750
Sale Price

5
Rooms

3
Beds

1
Baths

Stunning young condo conversion by one of Waltham's premier builders. This magnificent property was brought down to the studs and meticulously rebuilt in 2008. Ideally located in close (but not too close) proximity to Moody street and its myriad shops, restaurants, shopping, and other attractions. Thoughtfully laid out over 1400+ sq. ft., features include 3 generously sized bedrooms, as well as 1 full bath. The kitchen and main living area are open and free flowing, highlighted by oversized windows that wash natural sunlight throughout. High end cabinetry, appliances, and granite countertops define the kitchen itself. Other must have amenities include: hardwood floors, central AC, in unit laundry,fully wired w/ Ethernet, 2 off street parking spaces, as well as extensive storage in the basement. If you have seen the rest, come see the best. Quality is the difference!

Similar Properties

56 Lakeview Ter, Waltham, MA 02451 has an Open House on Sunday, Jan 19, 2020 at 1:00 PM








56 Lakeview Ter,



Waltham, MA 02451

Lakeview

Single-Family

$519,900
Price

5
Rooms

2
Beds

1/1
Full/Half Baths

Nice ranch with a good sized lot. Double wide garage, parking for 4 cars, shed, yard and patio. Both bedrooms have skylights and vaulted ceilings. Short distance to Hardy Pond. Finished basement with 3/4 bath, laundry and space for a third bedroom, New roof in 2017. This property is perfect for someone who needs a garage workshop and/or storage area.

Open House

Sunday

January 19
at
1:00 PM to 3:00 PM

2+ bedroom home with an oversized garage and a nice yard.

Cannot make the Open Houses?

Location: 56 Lakeview Ter, Waltham, MA 02451    Get Directions

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