INSIDER INSIGHTS
TIPS TO STAY AHEAD IN THE REAL ESTATE MARKET
Investing in real estate can be a great way to earn additional income, but it requires a lot of time, money, and research to be successful. From keeping a budget to choosing the right location, every facet of investment will play a part in determining your level of success. We have compiled some useful tips to help real estate investors stay ahead of the market and invest successfully. Location Matters Everyone has heard the phrase “location, location, location,” but it’s difficult to overstate its importance. A property derives its value from an array of factors, and only one of those is the quality of the building itself. Finding the right property in the right location is key to successful real estate investment. Vacation rentals must be in safe areas, close to popular restaurants, shopping centers, and tourist attractions. If your vacation rental is too far away from what attracts people to the area, it will inevitably
be less profitable and less competitive than other vacation rentals.
All rentals require landlords. If you don’t plan on assuming those responsibilities yourself, you will need to hire a property manager to perform those duties, which can dent your estimated profits. Set out a budget for yourself, and make sure it includes costs associated with repair, renovations, associated real estate taxes, home insurance, maintenance, and utilities. If you stay within your budget and purchase properties with high upsides, you will be on your way to generating a healthy income. Professional Advice Real estate investment is a commitment, and it is critical you commit fully. It’s vital to have expert legal advice when making real estate investments. To discuss questions related to real estate documentation or estate planning, please call us at 740-346-2899 to speak with a specialist.
On the other hand, if looking to buy and rent out a house or property, you have to consider if it’s situated in a well-regarded school district, if it is near commercial areas where locals are employed, and if the surrounding area contains parks, grocery stores, and other amenities attractive to families. Costs of Investment One of the most common but critical errors investors make is underestimating the costs involved. Whether you are flipping, renting, or selling a house, the money involved goes beyond the purchase price. The average cost of flipping a house is around $45,000, and flippers should expect to spend $1,000 per day for the duration of renovations. For example, if you plan on a 30-day renovation, you should anticipate the costs of renovations to be around $30,000.
TAKE A BREAK
GRILLED STEAK WITH CHIMICHURRI SAUCE
DIRECTIONS
INGREDIENTS •
2 lbs flank, sirloin, or skirt steak
1. Preheat grill to medium-high heat. 2. Rub the steak with the olive oil, salt, and pepper. 3. Grill the steak for 4–5 minutes per side or until it reaches desired doneness. 4. Meanwhile, make the chimichurri sauce: In a small bowl, mix together the parsley, garlic, lemon juice, olive oil, red pepper flakes, and salt and pepper. 5. Let the steak rest for 5 minutes before slicing. 6. Serve the steak with the chimichurri sauce and enjoy!
• •
2 tbsp olive oil
Salt and pepper, to taste
For the chimichurri sauce: • 1 cup fresh parsley, chopped • 2 cloves garlic, minced • Juice of 1 lemon • 2 tbsp olive oil • 1 tsp red pepper flakes • Salt and pepper, to taste
ARBOR ARIES
CHOCOLATE DAISY DIAMOND ENVIRONMENT
GARDEN KITE
BASEBALL CHERRIES
RAINBOW SHOWERS
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