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#InvestingTipTuesday: Improving Your Exterior to Increase Marketability

It’s Tuesday, so you know what that means--it’s time for #InvestingTipTuesday!

 

Something I’ve realized recently is that going on a first date is kind of like investing in real estate. When you go on a first date, you want to make sure that the first impression is really there. The same is true for when you’re trying to invest in a property, specifically sell an investment property. The condition of the exterior of the property, or the “first impression,” makes a big difference in marketability.

 

As the weather begins to warm up, and many of us are still working from or simply staying at home, now is a great  time to clean up the exterior of your properties so that it can make that great first impression for potential buyers. Here are some quick tips:

 

  1. Landscaping: Trim the lawn, trim back some of the trees or bushes, and maybe plant a few flowers. These simple tasks go a long way when it comes to curb appeal. 

  2. Exterior Trim: Make sure that any trim that is worn down with paint or might be rotted gets replaced and repainted with something bright. I’ve found that nice, white colors work really well for the outside.

  3. Consider Re-siding: Re-siding a building that is in desperate need is one of the best bangs for your buck when it comes to investing in real estate. It’s a great return on investment that can definitely help improve the marketability of your property.

 

Hopefully these tips help you get on your way for making your investment properties have the best first impression! As always, if you ever have any questions about steps that need to be taken to help get the most out of your properties, never hesitate to contact our team. And if you have any other tips on this topic, we’d love to hear from you! Feel free to comment below with them.

 

Best,

Matt

 

#InvestingTipTuesday: What Is House Hacking?

Welcome back to #InvestingTipTuesday, everyone!

 

A lot of first time investors ask me, “how do I get around the 25% down payment required to buy my investment property?” One solution for this is what is known as “house hacking.” 

 

House hacking is when you, as a first time investor, move into a small apartment building that you are investing in, usually between 2 and 4 units. You live in one of the apartments, and rent out the others as an independent landlord (or you can choose to use a property management company to help you secure tenants and act as that point of contact as well.) The rent from the other apartments will help you pay your mortgage on the property, and may even pay some of your expenses as well. This allows you to save up money for your next property so that in the future, you can put that 25% down. 

 

This is a tactic that many first time investors use, including some of our own team members. If you think house hacking might be the right option for your situation, our team would love to chat with you! Feel free to contact us, and we’d love to help you get started on your real estate investing journey.

 

Best,

Matt

 

#InvestingTipTuesday: To Buy or to Sell

Hello everyone, and welcome to #InvestingTipTuesday! Each week, we’ll be posting a tip regarding real estate investing both here on our blog, and on our social media channels (if you haven’t yet, make sure to check us out on Facebook and Instagram!)

 

This week, I wanted to bring up a topic that was actually the focus of a roundtable discussion that I was recently a part of about two weeks ago. I had the opportunity to jump on a virtual networking meeting with a bunch of other real estate investors that was sponsored by the New Hampshire Real Estate Investors Association, and one of the hot button issues that we discussed was, “should I buy or should I sell real estate right now? Does it make sense to do something?”

 

By having a discussion, we were able to get lots of different viewpoints on the subject, but in reality… nobody should be making that kind of recommendation as a general, “yes you should buy,” “yes you should sell,” or “no you shouldn’t buy,” or “no you shouldn’t sell.” Every real estate situation is different, and if you’re going with the advice that is being given generally, whether it’s across a news outlet, a real estate forum, or even taking the advice of professionals in the industry, make sure that the advice that you’re taking is applicable to your situation, and isn’t just a general thing people are saying.

 

One of the things that I’m looking at with a lot of my clients in advising them is looking at the different properties that they are looking to sell or looking to buy, and giving different recommendations based on those specific properties and what they should be doing with them. A lot of different factors need to be taken into account depending on the property. For example, a property of X number of doors might be perfectly fine to sell because it’s a really hot commodity today--but if you’re looking to buy a property of the same size, the lending environment might not be right. 

 

So my recommendation to you is to be aware of the advice that you are being given when it is coming from a general standpoint (even guys who are sitting at their computer giving you advice on a Tuesday morning like me), because it is general advice. Take that into consideration and really look at a lot of different factors when you are making a decision about either acquiring or selling a piece of real estate. Think hard before you make that decision, and don’t just take general advice from one source.

 

If you ever have any questions about your specific situation, our team is always happy to help you and offer tailored advice to help you find the most success in your real estate investing journey--but remember, take that for what you will.

 

Best,

Matt

 

Press Release: Lefebvre of Elm Grove Realty leases +/- 9,751 SF to Gatehouse Treatment in Nashua, NH

NASHUA, NH Matthew Lefebvre of Elm Grove Realty in Manchester, NH recently brokered a deal at 155 Main Dunstable Rd. in Nashua, NH representing the landlord, leasing +/- 9,751 SF to Gatehouse Treatment. The cooperating broker, representing the tenant, was Lisa Ferrari of Prolman Realty in Nashua, NH. This lease deal brings the building to approximately 90% occupancy.

#MondayMarketUpdate: COVID-19 and the Real Estate Market

Hello everyone,

I wanted to take a few minutes today, and speak a little bit about the impact that we're seeing in the real estate market due to the news topic that's on everybody's mind: the outbreak of COVID-19.

Obviously, there's a very big impact to public health and the economy as a whole with regard to how this outbreak is affecting everyone. However, the real estate market is a little bit different, and a little bit disconnected from more "in-the-moment" kinds of activities. Real estate is a notoriously slow-moving industry. The average length of a real estate transaction is about 45 days from contract to close, so that's a long time to even see a deal close, let alone see a major impact to pricing.

Now, our team has had some deals fall out of escrow because of concerns about the impact that this is going to have on the real estate market as a whole. At the time that I'm writing this (March 23), we haven't seen a substantial decrease in prices, nor have we seen a substantial decrease in demand. In fact, we haven't even seen a change in supply from what we might be seeing in a typical spring market environment. I would guess that we're probably having a little bit of dampening from people putting all their properties on the market right now, but from what I'm seeing, people are still selling. People are still calling me up and telling me they have a building that they want to sell for reasons that are unrelated to the current market conditions; it was just the time they were planning on selling--listing in spring of 2020. We still have people that are wanting to buy properties, even with a lot of unknowns here.

Some points that we should be aware of are the potential for rental issues down the road. Obviously, we're all feeling hurt by the economy right now with a lot of people out of work. Many renters in properties that we're selling might not be able to pay rent as they typically would. The government has yet to roll out a rental assistance program that will guarantee rental payments. As such, a lot of landlords are going to be feeling the pressure come April 1st, April 5th, April 6th. We're going to be seeing a lot of landlords who might not be making their bills because of the fact that their tenants aren't paying rent.

The reality is, we don't know what's going to happen. We don't know how big of an impact the COVID-19 outbreak is going to have on the real estate market as a whole. There's a lot of unknowns, and real estate is very slow to react, so we haven't yet seen the full impacts that this will have on the market--but I would expect there to be impacts. It will take weeks, it will take months, it might even take years for us to see the true lasting effects of this event on the real estate market as a whole. For the time being however, real estate is still happening. People are still buying properties, people are still selling properties. Our team closed 4 properties last week alone, and we have a couple more scheduled for the next few weeks. For the time being, the real estate market is still moving. Time will tell how big of an impact this has on the real estate community as a whole, but that's something that I'll be keeping an eye on.

If you have any questions, or you have any thoughts about what the real estate market is doing, or what you're seeing, feel free to drop a comment here. I'd love to engage with you and talk more about this and how this is impacting other people as well.

Stay safe everybody. Wash your hands, and let's get through this.

Best,

Matt

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