Used Appliance Stores a Great Option for Rental Units

Posted Posted in Real Estate

When renting out your property, you usually have a target client in mind. If you live near a university, for example, it is easy to imagine offering your apartments to students. If that is the case, you should be aware that students often prefer furnished properties.

Microwave Oven

Why Should You Furnish Your Homes with Appliances?

Students also add their personality to the property by bringing a few of their own items. They may bring along a beloved ottoman, a couple of personalized pillows, and books. However, they will likely expect that everything else will be there. This preference for furnished homes is especially true if they are moving from a different town or state. It can be inconvenient and expensive to get several heavy items hauled for moving.

What Is the Most Straightforward Setup?

To set up, you can place a worn couch and a simple bed in your apartment to withstand several years of usage by various tenants. They do not have to be fancy. The duller they are, the easier it is for them to blend in with the student tenant’s own furnishings seamlessly. However, setting an appliance is a different thing altogether. Appliances can be expensive and may take more maintenance. It may be more challenging to scrounge enough money for appliances that your tenants will be using.

Ceiling Fan

How Do Appliances Come into The Picture?

So, here is where used appliance stores come in. These stores can provide you with affordable options for your rental units. Even if you are renting out for families, these used appliances may still be your best move to save some money.

Imagine having to buy expensive and brand-new appliances for your rental units. Then, come in distracted teenagers or families with kids. Imagine heavy loads being rammed into washing machines and coffeemakers getting their daily swirl.

However, you also have to think about whether you are providing your tenants with good appliances. You want them to be happy, comfortable, and satisfied. Your rental unit is a reflection of you as a business owner. You don’t want to come off cheap and uncaring.

Here Is How You Can Pick the Right Used Appliance Store to Buy from:

They Are Known for Refurbished Goods.

Some appliance stores do not just directly sell their goods. They also make sure that they are in tiptop shape. Some of their items also look new, although a closer look will reveal its wear and tear. The prices reasonably reflect their age.

They Also Sell Unused Stock Appliances.

Sometimes some appliances just don’t get sold. There is nothing wrong with them. It is just that often, the next model of machines arrives and take precedence. So, they get ignored, unused and unsold. New appliance stores that sell such appliances could hurt their reputation. So they sell to used appliance stores. That means you can get last year’s model, never used, from a used appliance store for a great price.

They Are Willing to Negotiate.

Go for used appliance sellers who are more willing to negotiate. They can lower the price for you. Do not hesitate to ask if there is a chance to do that.

They Will Show You the Actual Product Before You Buy It.

Of course, make sure these sellers show you the product before selling it to you. Pick a brick and mortar shop that house the products so that you can inspect them before buying.

Marketing for Real Estate Agents

Posted Posted in Real Estate

The world of real estate is often fast paced and merciless to those who aren’t prepared. As an agent, you’re also unlikely to become renowned or relied on by your clients if you can’t get your name around enough. Just like with any product or service, you’ll never get business unless you get your name out there, and word of mouth is the most tried and true means of doing that.

Real Estate Deal

Word of Mouth

People are much more likely to talk about you and refer your services to friends, family, or even acquaintances the closer in contact you stay with them. After you’ve shown a house or two off to a client, don’t just wait for them to come to you. Show them you’re interested by keeping in contact, and they’ll be likely to give your card to their Aunt Sally who is looking for a fixer upper to rent out.

Likewise, if you offer sub-par service, it’s just as likely that word will spread to avoid you, so this can be a double edged sword if you’re particularly bad at what you do, but you’re here reading this because you want to be a great agent, so we’ll move on to the next point.

Keeping in touch with your clients is the best way to market yourself and keep your reviews nice and hot. Because of this, word of mouth, and glowing reviews online benefit greatly if you make sure that your clients are happy even after you’ve sealed the deal. Give them a call, let them know you’ll stay in touch, take them to lunch to celebrate their new home.

Open Houses

A big thing you can do to really make a great impression on potential clients is hosting open house parties that will give you an excuse to talk to those looking for a house. Open house parties can help you get people both interested in buying a house, looking to buying one, or just get your name out there. Often times, people are on the fence about investing in a new domicile, or don’t really have any expectations, but if you put out the chips and dip for them, chances are you will have them thinking about it while they’re making their way through the tiny sandwiches. After all, who doesn’t love a good party?

Open House

Social Media

Another important thing to do is to take advantage of modern social media and networking platforms. BombBomb is a popular means of doing this, giving you tools you need to be successful and keep your name on people’s lips during lunchtime. Video emails are a unique feature to this app that allows you engage with past clients in a convenient way, and automated drip campaigns sent to former clients will keep your services on their minds. With updates as frequent as every month and newsletters on top of that, it’s got everything and anything you’ll need to keep your networking at its prime. Since it has a free trial and everything, there’s really no reason not to give it a try.

Social Media Marketing

Online Advertising and SEO

It is also possible to target people with online advertising to get new clients. Unless you are really knowledgeable, it is probably better to hire someone to do it for you. It’s a good idea to find out their track record. In addition to that, you need to work on your website and structure it properly, so people find it when doing a search on the web. And you want to have lots of good Google reviews. If you don’t have that and you are spending money on everything else, you are probably wasting your money. Experts can help with the website by doing search engine optimization (SEO) and with the reputation management for the reviews. At the end of the day, the main thing you’re going to need to keep your networking strong is effort and a willingness to try. So don’t dawdle for even a moment. That client who was on the fence about wanting to look at that house down on Cherry Street? Set up a day to tour it and toss them a text or leave a message, and bring them some donuts and coffee while you’re at it.

How to Home Stage A Small Home

Posted Posted in Real Estate

Staging a house is a very important process when you want to put your house up for sale on the market. It helps you sell the property faster as it allows prospective buyers to picture themselves in the space that is available. This becomes almost crucial when we talk about small homes. With the proper staging of furniture and other household items, even a smaller place can look more sufficient functionally. We have been very impressed with a local home staging company, Calm Castle Home Staging. Check them out if you live in Maryland and visit their website for some good tips.

Meanwhile, let us explore some tips below on how best to stage a small home.

Calm Castle Home Staging tips - remove the clutter
Turn Off to Buyers – Remove the Clutter

Remove the Clutter

Before you enter the staging process, it is imperative to remove the clutter. Keep all the essentials and only a few ‘good to have’ items. Once the clutter is out and your home is overfilled with furniture and knickknacks, do a thorough cleaning. Get rid of any unpleasant odors and try to disinfect the house. You don’t want the buyers to be greeted by any surprise visitors.

Calm Castle Home Staging tips - rooms without clutter are more appealing
Compare to a Room without Clutter

Colors

Aim for lighter colors. Cooler and pastel shades tend to reflect light and make space look bigger. On the other hand, darker and warmer colors tend to make the room look darker and more congested. Stick with a single light color for the walls. Open the blinds and pull back the curtains to let the light in. Talking about light, make sure that the light fixtures throw ample light. So, dust them, if required.

Furniture

Most of us tend to collect unwanted furniture over a period of time. While staging your home before a sale, make sure that you reduce the amount of furniture in the house by as much as fifty percent, in some cases. You might need to rent a storage unit. Another challenge could be that your furniture may look dated or worn. In such a case, it might be a good idea to rent furniture for the staging phase.

Doors

Another great tip for staging a small home is to remove all unwanted doors. They will give your home a more open-plan look and feel. Of course, keep the doors where needed, like bathrooms, bedrooms, etc.

Bare Walls

It is better to have bare walls than have something obnoxious staring out of them. Remember, not all of us have the same levels of appreciation for wall art. Moreover, leaving the walls vacant will make the room seem more breathable. Don’t make them completely bare, but in this case, generally less is more.

Calm Castle Home Staging tips - use mirrors to make rooms look bigger

Mirrors

Now that your walls are more bare, you might want to hang a few mirrors on them. Mirrors not only brighten dark spaces they also make the area look bigger than it is. Don’t overdo it though.

Furnish Wisely

Decorators swear by metal and glass furnishings when it comes to staging small homes. In comparison to wood, they give the room a lighter and brighter look. Likewise, when it comes to curtains, go for lighter colors as well as fabrics. Streamline the fabric and the color palette. Don’t put everything on the bed. If you want to mix and match, then stick with two options only.

Smaller homes are much more in demand today than they were a decade ago. So, even without an elaborate staging exercise, you can still sell the property. However, staging done right can get you a better price. Typically, 10 times what you spend on staging. That seems high perhaps, but remember, the value of a house is a relatively large number. Increasing the sales price by 5 or maybe 10% can mean several tens of thousands of dollars.

8 Tips on Investing in Real Estate

Posted Posted in Real Estate

Most of us make at least one major real estate investment in our lives. A real estate investment can be for living in it or as an owner you can rent it out and the property becomes a source of income for you. You can also invest to build a retirement nest egg for later years. Whatever, the ultimate goal, you can do this right if you follow these 8 simple tips on real estate investment.

Real Estate investment in condos and apartment buildings
Invest in Apartments or Condos

Budget Awareness

Real estate investments require a substantial amount of money. Therefore, be aware of financial capability and align your purchase to your budget. A pre-approval on loan from your bank can help you arrive at your budget.

Market Awareness

It is important to do your homework and research the market rates before you go hunting for prospective properties. For instance, if the market rates are over your budget, then you might want to wait before the situation changes to suit your requirements.

Demand Awareness

A property might be beautiful, but it may lack in rental potential. To ensure that your investment does not become a liability, do an area survey before you make the purchase. It is often seen that properties near educational institutions and convenient transportation will always remain in demand.

Investment Goal Clarity

Be clear on what you want to gain from the property. Do you want to hold on for longer? Or, are you aiming for quick capital growth? Being clear about these aspects can help you decide better.

Livability

More than anything, the property must be livable. You can invest in an exquisite piece of real estate but if it has poorly designed interiors, then you might find it difficult to rent out or live in.

Practicality

Simply put, don’t get caught in your emotions. Buy with your head and make a practical purchase. Weigh the plusses and minuses before you enter into the contract.

Building Inspection

You might not be presented with a clear picture of the property. Therefore, a third-party building inspection is always a good idea. This will not just make sure that you get a detailed inspection report on the property’s situation, but it will also help you avoid any future repairs.

Legal Advice

The documentation involved can be complex and filled with jargon. So, to make sure that your interests are covered, run the contracts through a property lawyer before you sign on the dotted line.

Apart from following these tips, make sure that you avoid the common mistakes like making hasty decisions before due diligence. Also, avoid too much risk like relying solely on rental income to pay off the mortgage installment payments or going ahead without legal advice. Most investors invest in real estate intending to make handsome profits, but only a handful of them progress beyond their first investments. If you are one of the lucky few, then hiring a property manager can prove to be a wise decision.