Is It a Seller’s Market?

Living in Columbus, Ohio, the phrase “Seller’s Market” has been used over and over lately.  Real estate agents are marketing their business to homeowners (who might not even been looking to sell) because they have clients looking to purchase homes in certain areas.

The Indianapolis market is highly competitive.  Homes are selling faster than they have in years.  Many houses are getting multiple offers, so homebuyers are having to go well over the asking price.

All-Cash BuyersIs it a seller’s market or a buyer’s market in your area right now?  Does the market change how you handle your rehab investment properties?  Does it determine if you will keep the property as a rental?

According to CNBC and RentRange, “some of the most lucrative rental markets with rent gains of more than 17% annually and an average gross yield of nearly 11.27%” include Knoxville, TN; Syracuse, NY; and Charleston, NC & SC.

Real Estate Investors Should Update Front Door and Landscaping to Help Sell Properties

Besides a “For Rent” or a “For Sale” sign in the front yard, curb appeal draws the attention of house hunters.  Most homeowners know the basics of good curb appeal – cut grass and clear walkways and driveways, but have you ever considered something to draw the eye?  What about a pop of color by painting the front door?  Or planting colorful flowers or updating landscaping?

2016 Popular Front Door ColorsPainting the front door and changing the light fixture can make a big difference to the look of a house.  Some of the popular front door colors for 2016, include turquoise, teal, dark blues, dark purples, dark greens, and of course neutral colors.  What color do you use on your own front door?  What colors do you use on your investment properties’ front doors?

Landscaping can easily increase a property’s value from 5% to 11%.  Make sure your landscaping matches the interior and exterior look of your house.  You do not want conflicting design techniques.  Make sure that the trees and flowers that are planted will receive the adequate amount of sunlight, and that they will bloom during the season in which you plan to rent or sell the property.  Also, use a variety of plants to create diversity to make it interesting.  What are some of your favorite plants to use at your investment properties?

Preparing for Taxes as a Rehab Investor

As we have mentioned in previous blog posts, including Building Your Team: Who the Seasoned Investor Knows, it is important to add trusted professionals to your rehab investment team.  One important team member to have is a CPA, or financial advisor.  CPAs will be able to answer all your tax questions and direct you to get the most out of your tax return.  Remember to keep all tax documents for up to at least 7 years.

CPAs will tell you to keep track of everything.  Over documenting is better than missing something.  It is important to keep all bills and receipts that pertain to your real estate rehab business.  Your CPA will be able to tell you what is tax deductible and what category it should be placed under.  To help with tax preparation, put your receipts into folders by category.

Read examples of tax deductions here.

Some self-employed individuals find it helpful to keep a calendar full of payments, purchases, miles, etc.  This allows them to look back each month to see their business activity.  How do you handle preparing for taxes?

ReCasa Financial Group Can Help With More Than Rehab Financing

Ever wonder if ReCasa Financial Group offers real estate loans in addition to 100% financing for rehab investment properties?  Good news!  We do for those in Ohio, Pennsylvania, and Indiana.

If you need cash out, need to refinance because the loan has matured, need to pay off outstanding debts, and/or need a loan that does not fit the cookie cutter bank loan, ReCasa can help.  The maximum term is 24 months, and the program includes purchase, refinance and construction costs.

Contact Erik Williams at ewilliams@recasafinancial.com or 614.221.6770 x 245 for your financing needs.

ReCasa Financial Group’s In-House Contact for Your Insurance Needs

Recently, Detwiler-Brofford Insurance, Inc. opened a new location at 130 East Chestnut Street, Suite 200, Columbus, OH  43215.  ReCasa’s Product and Support Manager, Sonya Wasmer has an added position as an Insurance Producer with Detwiler-Brofford Insurance, Inc.  Wasmer has 3 years of insurance experience, and over 16 years of exceptional customer service experience.  She is excited to help clients save money by getting the best possible coverage and service.  She will evaluate your specific situation and provide the best insurance value for you.  Wasmer offers life insurance and property/casualty insurance for auto, home, dwelling fire, builder’s risk, along with any other assets you would like to protect for individuals, families and businesses in Ohio, Illinois, Indiana and Pennsylvania.

As real estate investors, a Builder’s Risk policy is ideal as it is an insurance policy that is designed to cover property in the course of construction.  It covers the existing building, along with newly-renovated property.  It is typically written in combination with General Liability, which is an insurance policy that protects an individual or business from the risk that they may be sued and held legally liable for something such as injury or negligence.  Liability insurance policies cover both legal costs and any legal payouts for which the insured would be responsible if found legally liable.

Detwiler-Brofford was established in 1984 in Central Ohio, and expanded in 2015 opening an additional office in downtown Columbus, Ohio.  They represent many highly-rated insurance companies, including Erie Insurance, Grange Insurance, Auto-Owners Insurance, Safeco Insurance, State Auto Insurance, Progressive Insurance and more.Sonya Wasmer

Please contact Sonya Wasmer for your insurance needs.

Sonya E. Wasmer
(614) 300-2883
sonya@detwilerinsurance.com
130 E Chestnut Street Suite 200
Columbus, OH  43215