RE/MAX Executive Realty



Posted by RE/MAX Executive Realty on 7/7/2019

House flipping is a lucrative real estate investment venture that requires a lot of skills, planning, and sometimes luck to pull off. Any wrong decision when flipping a house can lead to disaster. When done right, it could also bring in a lot of money. If you can make smart decisions to buy the home at a great price, and keep renovation costs down to the minimum while maximizing the reach, then you can sell the house at a much higher rate than you paid for it. 

If you are looking to flip a house, you are looking to make a profit, so you need to make sure you are aware of the steps to take when investing in house flipping:

1. Invest in the house flip with cash

House flipping is a risky venture, and you do not want to add more debt to increase your financial risk. Flippers that borrow money with interest to finance a house flip often end up having to pay several months of interest which adds to the effective selling price of the house, making the project tighter than it already is. Using cash only to fund a house flip also means that you can wait out a slow market until you find the right buyer for the house at the best price for it.

2. Know the neighborhood market

It is normal to get excited during a house flip, but you must be sure that you never lose sight of the figures behind the investment. Know the neighborhood well so that you can buy houses that are around 80% of the average market value or less. Have the vision to know how the finished house will compete with homes already on the market and how best to price the house for a quick sale.

3. Have a strict budget for your house flip

Speak with your contractor to work out a good idea of how much the renovations will cost. It is good to have an estimate even before buying the house so that you do not overspend and become desperate with the house. Identify all structural, electrical and other issues the house may have before starting the project so that you can know if you can afford the house flip, even if unknown expenses crop up.

4. Plan for smart renovations

Aim for renovations that are low on cost and high on value. Instead of shiny floors and custom cabinets, you can refinish the existing cabinets, add granite countertops and replace all appliances to new stainless-steel ones. Things like painting and thorough cleaning can help increase the house value.

Your real estate agent will guide you on how to finish and renovate your house to meet local expectations and have a quick sale.





Posted by RE/MAX Executive Realty on 6/30/2019

Looking for the perfect place to call home? Is your vision of home that iconic white-picket fence ranch in the suburbs? Or, do you love the walkability of an urban neighborhood? Do you dream of a large backyard with room to host the neighborhood barbecue? How about being near to great schools? Extensive libraries or museums? Sports facilities? A neighborhood park? A nearby school?

Every year, various rankings for cities make it into the new: Best Cities to Live in America; Where to Life; Best Places to Live; Best Small Towns; Best Cities for Millennials; Top Ten Cities for [insert demographic here]. 

Investigate before you head across town … or across the country. 
The perfect location for someone else may not be the perfect home for you. Before chasing someone else’s dream, consider these factors that might better inform your home search:

Think about what’s important for you.
Do you value more space, better schools, a larger home? Or, does being near family and long-time friends give you a sense of “home,” of belonging? Do you want to be nearer work, so the commute is shorter, giving more time for “life”? These are not new questions. Families have moved from cities to the suburbs and back again for decades.

Consider what you might be giving up.
Moving to the city might mean access to cultural events, restaurants, a short commute, while the suburbs might offer that large home with a yard, or the perfect school. In either event, a move might take you away from friends, or give you the opportunity to make new ones.

Is it Family Friendly?

The criteria researchers use to determining a location's "family friendliness" include:

- Job market
- Commuter times and delays
- Crime rates
- School rankings
- Median household income
- Cost of living index
- Home affordability
- The percentage of homeownership

Different cities rank differently in each category in different years, so don’t just rely on the most recent reports to determine where you might want to live. Check back over the past few years and look for trends … Are the schools improving? Is there more dedicated greenspace? Has public transportation improved? Are the demographics change?

If you have school-age children, don’t just look at the elementary schools. In no time at all, your starry-eyed first-grader will be approaching graduation. It’s not all about academics either. Children need exposure to other opportunities and extra-curricular activities as well.

On the other hand, if you’re thinking of starting a family, you also need to check out hospital maternity suites (or birthing alternatives), daycare facilities, toddler playgrounds and opportunities for young parents to gather.

Of course, none of the lists, rankings, and surveys matter if the commute from your job is so long that you’ll miss out on all your kids’ ballgames and activities.

The perfect place for you to call home and to raise a family might be a new place where you’re sharing a new adventure together … but it might just be the neighborhood you know best and have already called “home.”

No matter what you determine, utilizing an expert real estate professional can match you up with the perfect place you, and your family will make into the home you’re looking for. 





Posted by RE/MAX Executive Realty on 4/21/2019

So you've found the perfect home to move to, whether it is your first home up- or downsizing, congratulations. Now it is time to pack up. The rest is exciting, but now you dread the headache of packing, knowing how much supplies that you need to get (without a million trips to the store) and making sure that your fragile items make it to the new place intact. 

How many supplies you need depends on what you have

The pros have enough experience to help with estimating how much supplies you should get based on the size and the description of your home and possessions. To get a picture of what is needed, a rule of thumb to measure by is per 1200 square feet of living space. Some suggestions are one 25-lb roll of packing paper, six rolls of tape, one roll of small bubble wrap (more if you have a bursting kitchen or many trinkets), mattress covers for all your mattresses and box springs (make sure they are the right size) and 80-100 furniture blankets.

Getting and keeping your boxes sealed

Depending on the scope of the move (length, time, movers or friends, etc.) you may be used to folding the flaps of your boxes closed, but this leaves them vulnerable to moisture, insects and other stuff getting into your boxes. Not to mention that it makes it much more likely that something will fall through (cue driveway full of what was once packed nicely into the box now empty in your hands). The easiest way to ensure that nothing goes in or out of your boxes once packed place three strips of tape across the top and bottom of all of your boxes. Types and number of boxes can be determined by asking your movers or putting it into a moving supplies calculator online.

Packing material

Packing paper helps protect breakable items by preventing friction between objects. It does not leave ink residue that you have to try to remove after unpacking everything. It also helps to cover knives and other such items to help keep injuries from happening while unpacking. Bubble wrap is for the more fragile items in your house. Small bubbles for smaller things and large bubbles for things like large art and such.

Mattresses and box springs need care too

Mattress covers are essential for protecting the place where you spend one-third of your life and ensuring that no stains, dust or rips affect your investment. If you have a king size bed, remember that the box spring is usually two extra-long twin size so remember to get covers accordingly.

Furniture blankets

Don't forget to protect your furniture during the move. Scratches, dings, and dents, or broken drawers and doors, especially on expensive or heirloom furniture, could put a damper on any move. If that many blankets are too many for your budget, get enough for your most important furniture and then get paper moving pads or shrink wrap for the rest.

Avoiding the headache that can accompany moving 

Although moving can be stressful, there is no reason to make it any more so than necessary. Do some research or ask a professional near you to take the stress, and trips to the store, out of moving this time around and enjoy your new home.




Tags: moving tips   packing   homebuyers  
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