Real Estate

06

May

Real Estate

A Guide To Investing In Real Estate Rentals

If you are thinking about purchasing an investment property, you probably understand this is a great way to diversify your investments. On the other hand, you also need to understand how to evaluate potential rental properties and how to make sure you can generate enough income to cover the overhead expenses related to the property. What do you need to know? Pay Down Personal Debt First Before you decide to take on a second mortgage, you need to pay down as much of your existing debt as possible. If you have unpaid medical bills, student loans, and car loans, you…

05

May

By Lori Blank

Real Estate

Understanding Your Debt To Income Ratio: What It Means

If you are looking for a home, you might need to finance it using a lender, such as a bank or a credit union. There are a number of factors that will influence whether your mortgage application is approved. Then, these same factors will play a role in the terms the lender might offer you. One of the most important factors is called the debt to income ratio, or DTI. It is important to understand how this will impact your mortgage application. What Is A Debt To Income Ratio? Your DTI is important to the lender because this allows the…

03

May

By Lori Blank

Real Estate

Common Fees During Refinancing

As interest rates fluctuate, you might think about refinancing your mortgage. This is the cost of taking out a new home loan to replace the one you currently have. If you get a significantly lower interest rate, you could save tens of thousands of dollars over the life of the mortgage. On the other hand, you need to think about potential expenses you might incur during the refinancing process. Because you are taking out another home loan, you may need to pay closing costs a second time. What are some of the most common expenses you might have to pay?…

29

Apr

By Lori Blank

Real Estate

Sale Pending: What Does This Mean?

The search for a house can be stressful and filled with lots of jargon that can make it difficult for someone new to the real estate world to figure out what is going on. One of the most common terms that people might see on the MLS is "sale pending." What does this mean, and how should people interpret this? An Overview Of Sale Pending If a listing says that it is "sale pending," it means that the buyer and the seller are under contract. While the deal is not yet set in stone, it means that the seller has…

20

Apr

By Lori Blank

Real Estate

Many Millennials Need More Space

There are many Millennials who are looking for a home, and many of them are getting ready to trade up for more space. If you think you need more space, you may have more buying power than you realize. The coronavirus pandemic has led to a lot of changes, and you might be able to use the equity in your home to purchase a bigger house with more features. Why Millennials Are Looking For Bigger Homes There are a few reasons why many Millennials are looking for bigger homes. First, the coronavirus pandemic forced many people to work from home.…

14

Apr

By Lori Blank

Real Estate

There Are Several Great Reasons To Consider Buying A Condo Today

Many would-be homebuyers are now considering buying a condominium instead. Condominiums may be a good option for first-time buyers who are experiencing obstacles when searching for properties that meet their budgets and other criteria. Here’s why: Condos Might Offer More Budget-Friendly Options In today's housing market, supply constraints are a fact of life. Including condominiums in a home search might expand the pool of alternatives. Remember, condos are often less expensive because they have less room—the owner won't have their own garden, for example—and the overall square footage is typically less than that of a single-family house. Still, if budget is the obstacle, condos could be…

07

Apr

By Lori Blank

Real Estate

How Can You Invest in Real Estate?

Many people believe that investing in real estate is something reserved only for the super-wealthy. In reality, this is not the case. Investing in real estate is a smart idea because property can generate a consistent cash stream while providing significant capital appreciation combined with tax breaks. There are multiple ways to invest in real estate, and no single path is better than the others. Consider Real Estate Investment Trusts (REITs) A real estate investment trust is a low-cost alternative to buying an entire property. Usually shortened to REIT, this is a company that allows investors to pool their money…

05

Apr

By Lori Blank

Real Estate

Advice For Purchasing A House On A Single Income

Even though a lot of people have two incomes they can use to purchase a house (theirs and their partner’s), this is not necessarily required. There are lots of people who want to take advantage of current interest rates to purchase a house, and some people are trying to do it on their own. Even though it can be a challenge to buy a house with only one income, it is certainly not impossible. There are several tips that can make it easier for everyone to afford a house with just a single income. Always Check Your Credit Score If…

31

Mar

By Lori Blank

Real Estate

Comparing Long-Term And Short-Term Rentals

Owning rental properties is a great way to diversify investments. Similar to the stock market, homes come in many shapes and forms. Some people are looking for short-term rental properties while other people are looking for long-term rental properties. What are the differences between them, and why might one person choose to own one of these properties over the other? What Is A Long-Term Rental? In general, long-term rental property is defined as any property that has a standard lease that is longer than 12 months. Many people think about apartments, condos, and single-family homes as long-term rental properties. There are…

24

Mar

By Lori Blank

Real Estate

Advice For Purchasing A House On A Single Income

Even though a lot of people have two incomes they can use to purchase a house (theirs and their partner’s), this is not necessarily required. There are lots of people who want to take advantage of current interest rates to purchase a house, and some people are trying to do it on their own. Even though it can be a challenge to buy a house with only one income, it is certainly not impossible. There are several tips that can make it easier for everyone to afford a house with just a single income. Always Check Your Credit Score If…