Flip This House! Income and Investment Properties! Act Now!

The Realities of Income Properties Many homeowners consider investing in an income or rental property as a means for extra income. Many real estate markets throughout the U.S. have seen tons of growth in recent years, with rental properties highly sought-after in some popular markets. Generally, real estate is a solid investment in terms of ROI (return on investment) over the long term. While a rental property might seem like a sure thing for extra income, there are advantages as well as disadvantages to income properties. If you've been toying with the idea of investing in another property, consider some of the points below before making your final decision. Advantages of Rental/Income Properties Direct Income Stream One major advantage of an income property is a direct income stream. Monthly rent checks go directly to you, which based on whether or not the property has a mortgage, go directly into your business account. Should the property be continually rented throughout the year, the monthly payments will add up to a pretty sizeable sum by the end of the year, which is extra income in your pocket. Even if the property has a mortgage, the difference between the mortgage payment and rent check will undoubtedly be a positive addition to your account. Property Value Increases One of the biggest draws for real estate is the expected property value increase over the long term. In a good real estate market, a property should increase in value a specific percentage in accordance with the market. If you're able to purchase a property while the market is down, the long term return on investment (ROI) could be quite significant if you plan on keeping the property for some time. If you live in a popular market, the value increase could be significant in only a couple years, and if you have a mortgage on the property, you will be able to leverage your ROI even more since the property value increase is based on the total value of the property and your initial investment may have been a small percentage. Sweat Equity As you maintain and upgrade the property, you'll likely recoup some of the costs you've put into it. Regular maintenance (things like exterior painting, new siding, upgrading a roof, landscaping, etc.) help to increase the overall value of the property. Pair sweat equity with a property value increase, and the overall value of your investment property should grow over the years, garnering you more money in the long run. Tax Deductions As a property owner, tax deductions are always a good thing. When it comes to rental property, tax deductions are a for sure thing. With the current guidelines, property owners have the ability to write-off interest on the mortgage or credit card used to make purchases for the income property. Things that can also be written off: insurance, any maintenance repairs, expenses for travel to and from the property, any legal or professional fees, and of course the property taxes. Disadvantages of Rental/Income Properties Risk of Asset Concentration For many of those interested in a rental or income property, the ability to purchase the property outright is not a reality. Many owners will need to have a mortgage on the property; and for those able to buy in cash, the amount needed will likely eat into the majority of a person's total net worth. Because of the huge concentration of assets in one item, there is a potential to see no return on the initial investment, especially if the real estate market as a whole takes a drastic turn or the economy goes into a recession. If you're looking at an investment property as a financial investment, having the majority of your assets concentrated in one item is not advised and a poor investment scheme. Also, real estate requires a sufficient amount of funds on the side to handle any periods of time when you, as a property owner, need cash. Tenant Issues The only way to make money off a rental or income property is to have tenants. While the Internet provides a number of ways to find tenants, as a property owner you want your tenants to be responsible (pay the bills on time, take care of the property, and be long-term renters). Finding the right tenant can be a process: from running advertisements to credit and background checks, the tenant process can take some time and can cost a property owner a considerable amount in a short time. Should the tenants end up being a nightmare, you'll see additional costs to fix any wear and tear. Taxes, Fees, Insurance Regardless of whether or not the property is rented, as the owner you'll have regular payments for property taxes, home insurance, HOA fees, and regular upkeep. Property insurance on rental properties can be higher than non-rentals, and overall taxes, fees and insurance eat into the overall income generated by the property. You are able to write some things off on your taxes, but that only happens once a year, not every month. Being Involved One of the biggest parts of owning an income property is maintenance. Maintaining the property is a challenge, especially when it has to be done regularly. From major appliances to structural components like the roof or the driveway, the property owner maintains and covers the cost. If you have tenants that don't like fixing things, it's likely you will be called when something goes wrong - from a clogged toilet or sink to leaking appliances or major property damage. Not only does maintenance take time, it also takes money. Owning an income or rental property has its advantages and disadvantages. It's important, as a potential investor, to know the real estate market you're looking to invest in. You should take your time to thoroughly consider your financial resources, the real estate market and economy as a whole, and all the pluses and minuses of owning a rental home before you take the plunge. For More Information Contact Homes by Sarah Boston  913-424-0427 WWW.SARAHBOSTONHOMES.COM

Do you Need to Sell Your Home? Get this FREE Checklist for Getting Your Home Ready to List! Get Started Today!

Do you need to sell your house? Are you overwhelmed with the clutter and everything you need to get organized to get the place show ready? One thing or room at a time. That’s how you will tackle  
de-cluttering and organizing your house to sell, one room at a time.

You can prepare to sell your house in just two weeks!

Day One, Home office:

• Pack excess books from bookcases
• Donate outdated technology that you no longer use
• Gather in one area all the electronics and cords
• Depersonalize and remove any references to strong political or religious statements
• File away or shred all statements with personal information
• Gather important documents and records and put them in one location. Don’t forget; birth certificates, death certificates, marriage records, home movies, memorabilia, medical records and insurance policies. All of these items should be hand carried to your new home and not accessible by prospective buyers or the moving company.
• Create a mailbox system assigning one box for each member of the family to manage incoming paperwork while the house is listed for sale

Day Two, Kitchen

• Sort the pantry. Throw away everything that has expired and donate anything you won’t be using before the move
• Add freestanding expandable shelves in the pantry to increase space, even a small pantry can look spacious if organized well
• Evaluate the contents of every drawer with this in mind; items that are used daily stay, items that are used occasionally can be packed and items no longer useful should be donated. This will help to give the kitchen the appearance of space.
• Clear clutter off the counter tops. Only small appliances that are used daily and three colorful accessory items should remain. All others should be packed away.
• Clean all the appliances inside and out. Don’t forget the top of the fridge.
• Remove pictures, magnets, calendars, and any personal artwork from the fridge.

Day Three, Living Room

• Simplify window treatments.i.e curtains 
• Eliminate Excess furniture to make the room look larger 
• Remove any and all family photos
• Edit accessories to just twelve favorites that add color and personality to the space
• Add baskets to bookcases. Personalize them for each family member. Baskets can then be used to stash toys, homework, and other odds and ends.
• Clean baseboards, ceiling fan, and shelving
• 
  

Day Four, Rest and Catch Up On Facebook, etc. 

Day Five, Garage

• Designate a staging area for packed boxes
• Pack all seasonal items that won’t be used in the next 3-4 months
• Keep all sporting equipment and toys contained in large trash can
• Hang bikes
• Clear any work areas

Days Six and Seven, Bedrooms

• Depersonalize
• Update bedding using gender neutral selections
• Use removable adhesive hooks on the back of the door for kids to hang backpacks, jackets, towels, etc.
• Pack all non-favorite toys
• Remove posters, staples, fill holes and paint as needed

Day Nine, Hobby/Play Room

• Go through all craft supplies and throw away anything no longer in working order
• Sort all small items and place into containers

Day Ten, Bathrooms

• Every family member gets a small caddy to keep personal hygiene items in. When not in use it is stored under the sink. Give everyone a small container of wipes to keep in the caddy and instruct them to wipe down surfaces after use.
• Edit bathroom towels and linens. Keep a two-week supply, pack or donate the rest.
• Evaluate all medications and first aid supplies. Toss everything that has expired. All remaining medications should be hidden elsewhere in the house.
• Place a plastic basket in the shower or tub to hold shampoos and soaps then stow away during showings.
• Place a squeegee in the shower. The last person to use the shower each morning gets to wipe down the glass.

Day Eleven, Closets

• Pack all out of season clothing and accessories
• Look at each item to evaluate if it can be tossed, kept, or donated.
• Organize shoes
• Nothing should be left on the floor

Day Twelve, Media Room

• Tag the cords on all equipment. This will make it easier to put back together in your new home
• Label remotes
• Match cds and dvds to their cases

Day Thirteen, Dining Room

• Pack all glassware and serving pieces that will not be used until after the move.
• Leave just one item per shelf in display hutches
• Remove leaf from table if possible to make the room appear larger.

Day Fourteen, Catch up

After you get through the list, you will feel so much better prepared to list your house and can focus on what lies ahead for you.

Then Contact Your Local Realtor for more details and get Your Home Listed Today! 
The Sarah Boston Home Team 
913.424.0427 
WWW.SARAHBOSTONHOMES.COM 

Expert Tips on Interior Painting Before Putting Your Home on the Market! Sell it Now!

Expert Tips For Painting Your Home To Sell

1. Choose your paint last. When you choose paint first, you limit your options for everything else. Choose everything from throw pillows to window treatments before you choose your paint color. Then, match the paint to complement the room and all the features.

2. Use only one swatch at a time. Most of us have been taught that painting multiple swatches on the wall is the best way to compare and choose paint color. Not so, says the painting experts. Using one swatch at a time will give you a better feel for how every color will work in the space.

3. Be mindful of your lighting- Paint will look different on your walls than it will in the store. And it will also change with the light throughout the day. Always test two-coat swatches on the walls of the room you intend to paint. This way, you’ll see exactly how different colors perform in different lighting. Also leave these swatches up for a couple of days before deciding, that way you are sure you love the way it looks in different lighting etc.

4. Consider your ceiling the 5th wall-  Stark white ceilings can be disruptive, especially against darker walls. To create a more integrated look, the experts suggest, taking lighter colors all the way up through the ceiling and trim. For ceilings against darker walls, they say, going a few shades lighter on the color card can yield outstanding results.

5. Use a higher-quality paint and application products- Always use a high-quality paint and application products. You can choose the most beautiful color there is, but it simply won’t look good if you don’t invest a little extra in higher-quality materials.

Any questions with the Best Ideas to List Your Home Contact Homes by Sarah 

913-424-0427 

www.sarahbostonhomes.com 

9509 Moody Park Circle Overland Park, KS 66212

Property Site: http://tour.circlepix.com/home/SJW4EH/9509--Moody-Park-Circle-Overland-Park-KS-2025766

Check out this Beautiful Classic Ranch Style Home, in the Heart of the Quiet Park Estates Neighborhood. Beautiful Hearth Room with exquisite brick, built in bookshelves & more! Wonderful 3 bedrooms, 2.5 bath, full finished basement, retro-style wet-bar. Beautiful Hardwoods throughout, wonderfully maintained. Gorgeous outdoor space with a newer deck & veranda looking onto a large private fenced-in backyard where over 500 perennial flowers are planted & waiting to bloom! Bring your style in to make this your home!

Bedrooms: 3

Bathrooms: 3

Price: $286,000

For more information about this property, please contact Sarah Boston at (913)-424-0427 or sarahboston@remax.net. You can also text 4098339 to 67299.

See more listings at: sarahbostonhomes.com

MLS ID: 2025766