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

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 

Trends in Your Home Help Sellers get The Most Money & Fast Closing!! Act Now!!

You don’t have to be an interior designer to introduce this swooning-worthy décor to your home you just have to find the inspiration!! Use these awe-inspiring ideas to give your home the stylish update it deserves.

1. Wowing White Kitchens

White opens up small spaces, beautifies larger kitchen layouts and shows off stunning design elements. Attention-grabbing backsplashes, stunning sink fixtures and dark countertops pop nicely against the backdrop of a white kitchen.

2. Beautifying Barn Doors

Barn doors serve as high-end focal points and handy solutions for wide openings and hard-to-style spaces like bathrooms, pantries and dining room entryways. You can install glass and stainless steel models to match modern décor, dark wood and wrought iron for a rustic flair or plain cedar slats to establish a neutral aesthetic.

3. Room-Transforming Tray Ceilings

Tray ceilings feature a center section that is raised several inches higher than the perimeter of the room. You can paint the heightened portion of your ceiling a room-complementing color to deepen the look of your space. Or you can use reclaimed wood or other materials to highlight your raised ceiling. Introduce lighting accents to your tray ceiling by adding a chandelier or pendant lighting.

4. Simple-but-Stunning Subway Tiles

Subway tiles are the building blocks for many stylish kitchens and bathrooms. You can lay your subway tile in patterns, purchase fun-colored tiles to highlight designs or go with the always-in-style white tile look. Subway tiles also function as more than an accent. Tile-covered kitchen walls reduce cleanup time, expand your space and give your kitchen texture.

5. Radiant Reclaimed Wood

You can use reclaimed wood for a variety of design solutions. Accents walls, coffee tables and shelving units are popular destinations for reclaimed wood. Distressed lumber is also perfect for larger design projects like new flooring, ceiling refurbishments and staircase updates.

6. Walk-In Showers

A walk-in shower will add to the aesthetics and functionality of your bathroom. Curbless walk-ins offer safe entry and exit and lend themselves to modern designs. In fact, many safety- and style-conscious homeowners are replacing their tubs with walk-in designs. Also, benches, handrails and other comfort-related features are easy to include in walk-in showers.

7. Upscale Undermount Sinks

Undermount sinks’ unbroken lines give your kitchen and counter tops a sleek, modern look. You can choose from a variety of materials and styles to ensure that your undermount sink increases the functionality of your kitchen and matches the décor. Undermounted designs also eliminate crumbs and food residue from building up around the edges of your sink which helps in maintaining a clean kitchen.

8. Haute Hardwood Floors

Recent trends like grayed hardwood, reclaimed lumber and wide-plank designs are popular alternatives to conventional wood flooring. These new hardwood looks serve as breath-taking focal points and picture-perfect complements to your existing décor. Match these hardwood trends to any design style — from mid-century to eclectic — for a beautiful update to your flooring.

Get your Overland Park Home NOW! The Real Estate Market is HOT! Homes R Flying Off The Shelves!!! Go NOW!!

Check out the Hottest Homes in Real Estate, Overland Park homes have continued to grow in value, Homes from 200-380+ have moved within 1-2 months in listing! Now is the time to start shopping for your next move! Click here for open floor plans in Overland Park, Hardwoods, 2-4 bedrooms, 2-4 baths, full finished basement, walking distance to schools, great landscape, move in ready & more>> 

Get the Exact estimate on How to sell your home, what your home is worth in Today's Real Estate Market, Click here>>

Contact Homes by The Sarah Boston Home Team 

913.424.0427