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Real Estate Blog

In the current housing market where mortgage rates are increasing, buyers should be aware of extra expenses that aren't covered by the listed sale price. Mashvisorunderstands how the process of investing in income rental property goes beyond the expenses advertised and the following will advise first time real estate investors on the hidden costs of buying a rental property.

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Consider Your Rental Strategy

For rental properties to generate the optimal income return you have to consider a strategic rental approach in your rental listing. There are many different rental strategies, all of which offer differing returns on your property. Mashvisor is an excellent place to start researching the returns your property can get in each area and comparing

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You may not know this, but you can use projected rental income to qualify for a mortgage on a new property you're looking to buy and lease out. Here's how it works.

 

Some mortgage companies will give you the benefit of fair-market rents when you purchase a property with the intention of renting it out. This type of financing is called non-owner occupied and costs more than primary home financing. You can expect to receive a rate that's 20 to 35 basis points higher than owner-occupied and secondary home transactions.

 

Now, let's say you've had a rental property for the last few years. Your new rental agreement is higher than the rental income from previous years, which is identified on your tax return. You cannot use this new income to

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When the temperatures spike, most families crank up the air conditioning to keep their homes cool. While blasting the AC is often viewed as the first step in cooling a home, there are a number of other ways to keep your home comfortable in the summer.

#1 Open Windows at Night If you live in a region of the country where nighttime temperatures tend to dip into the lower 70s and upper 60s, open your windows at night and turn off the AC. Once the sun is down, that cool air can flow into your home overnight and help maintain a cooler starting point for the next day. Turning on any fans you have around the house will help circulate that cool air.

#2 Leave Interior Doors Open During the winter months, it's a good idea to close doors to unused rooms to

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Will Your Home Hold Its Appeal?

 

Number One Rule of Home Resale Value: Location
You hear agents repeat the phrase in triplicate: location, location, location.


If you choose a home in a desirable location, odds are that location will remain in favor, which will always attract a larger pool of home buyers. Alternatively, if the location is less than desirable, it's possible that your future sales price will always be less than the other homes around it, and you may attract a smaller pool of home buyers.

Take, for example, this story. A few years ago I listed a home on a busy street in the Land Park neighborhood in Sacramento. It wasn't selling because the sellers had picked a sales price in line with comparable sales around the corner, on

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If you’re anything like me, you calculated what your home would rent for before you bought it. There’s no cheaper financing than homeowner mortgages, so why not build your empire through simply keeping old homes as rentals?

But converting your home into a rental property isn’t quite as easy as flipping a switch. Renters aren’t going to treat your baby with the gentle touch that you did, and they won’t be as forgiving as your spouse when something goes wrong.

So what must a soon-to-be-ex-homeowner do when preparing their home for its second life as a rental property?

Jump Through the Bureaucratic Hoops

In many large, hyper-regulated cities, rental properties must be registered, inspected, and levied with fees — sometimes with more than one

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