Showing posts with label Real Estate Tips. Show all posts
Showing posts with label Real Estate Tips. Show all posts

How You Can Appeal Your Home’s Tax Assessment


If you think your home’s tax assessment is too high, you can always appeal it.

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As a homeowner, tax assessments are something you have to deal with on every year. Upon finding out that their property tax has increased, many people simply throw their assessment in the shredder and accept the increase without giving it a second thought.

Don’t do that! If you read your assessment carefully, you’ll see that you have a right to appeal it. If you’re concerned that your assessment might not be accurate, you can save hundreds—maybe even thousands—of dollars by appealing it. Talk to a real estate professional first to get a second opinion of whether the assessment is inaccurate. 

 If you decide you want to appeal, you can’t just call the county and tell them they’re charging you too much. You have to make a strong case to have your assessment reevaluated, and there’s a process you must follow, which is another reason to call a real estate professional (such as myself) to help you. When you make your case, you and your Realtor can find some bad comps to lower the assessment. 

 Also, remember that there is no direct correlation between your home’s tax assessment and its market price. 
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If you read your assessment carefully, you’ll see that you have a right to appeal it.

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In some instances, it’s good to have a high tax assessment. If you plan on selling soon, for example, you don’t need to worry about a high tax assessment—you’re leaving soon anyway. Some buyers look at tax assessments when home shopping and assume that it’s good to make an offer above the home’s tax value, so in that case, the higher your tax assessment, the better. 

 I actually worked with a seller once whose home had such low tax assessment that we had to call the county and have them increase it while their home was on the market. This client already failed to sell their home once with a different agent because all the buyers were comparing the home’s tax value to its list price and assuming it was way overpriced. In reality, it was just an error on the part of the county. 

 So before you accept a high tax assessment, call your real estate professional and see if you can save some money by appealing it. 

 As always, if you have any questions about this or any other real estate topic, don’t hesitate to reach out to me. I’d love to help you.

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Location: Potomac Falls, VA 20165, USA

Should You Invest in Real Estate Today?

Given that today’s market leans heavily toward sellers, should you invest in real estate? The answer is yes, but not without following these tips.

 Selling a home? Get a free home value report

Our current market is booming with activity and inventory sits at an all-time low, which is leading many of my clients to wonder if there are still opportunities to invest in real estate despite the definite seller’s market we’re in. 

 Admittedly, as someone who’s almost always investing in real estate, I can tell you that opportunities are harder to come by when the market favors sellers so strongly. Still, that doesn’t mean there are none whatsoever. With the right guidance and drive, you can find a property worth investing in, and today I’ll offer some tips for doing so. 

 Your priority when venturing into the market should be to look for a property that you know will break even. You can’t break even on a property if you’re having to bring money to the table each month.
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There’s no limit to the number of properties you can invest in, as long as they have a positive cash flow or are breaking even at the very least.

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As a general rule, most people invest in real estate for one of two reasons: to generate cash flow or for appreciation. It’s not often that you’ll find a property that both appreciates and generates considerable cash flow. 

 As many of you know, my wife and I own property in Maryland, Virginia, and D.C. The properties we own in Baltimore have yielded double-digit cash flow, but over the last 10 to 12 years, they haven’t appreciated at all. Conversely, my properties in Virginia have hardly produced any cash flow, but their appreciation is soaring—6% to 8% annually.

 Another tip when you’re out looking for an investment property is to try and stay under $400,000. Investing in a $1.3 million home in Arlington might sound like a good idea until you realize that the rent you charge will eventually cap out somewhere around $4,000 to $4,500, which won’t be enough to cover your mortgage, taxes, and the costs associated with finding a new tenant. I strongly caution against purchasing above the $400,000 price point if you don’t want your investment to become a financial liability. 

 Now, there’s no limit to the number of properties you can invest in, as long as your properties have a positive cash flow or are breaking even at the very least. However, without a constant stream of cash flow, you’ll end up sinking your cash into them month after month, and those are dangerous waters to be in. 

 If you have any further questions or you’d like to hear more of my tips on investing in real estate, please reach out to me. I look forward to hearing from you!

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Location: Sterling, VA, USA

How the Latest Stats From Our Market Compare to Last Year’s


What’s the latest news from our Northern Virginia/Maryland/Washington DC market? Here are the latest statistics and how they stack up compared to this time last year:

Northern Virginia:
  • The median sold price rose 4.65% to $450,000
  • The average days on market dropped 19.23% to 63 days—this number is higher because it includes luxury homes, which often take two or three years to sell
  • Homes are selling at 98% of their asking price

Maryland:
  • The median sold price rose 4.02% to $329,900
  • The average days on market dropped 8.43% to 76 days
  • Homes are selling at 97.1% of their asking price

Washington DC:
  • The median sold price rose 7.77% to $555,000
  • The average days on market dropped 14.08% to 61 days
  • Homes are selling at 97.5% of asking price

If you’d like to know what these statistics mean for your buying or selling plans or you have any more questions about our market, don’t hesitate to reach out to me. I’d love to speak with you.
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Location: Arlington County, Arlington, VA, USA

Tips for Getting off the Mortgage Treadmill


I just jumped off the treadmill in my home gym, which got me thinking about a different kind of treadmill: the mortgage treadmill. Many of us jumped on this treadmill whole-heartedly, but we can’t wait to get off of it.

Truth be told, I’d rather be paying my mortgage than paying someone else’s, so that’s fine. Reports show that people who own homes have a net worth that’s 44 times higher than renters. Even the millennials are catching up and understanding that real estate will be their No. 1 priority in the next few years.

If you do already have a mortgage and you want to pay it off faster, all you need to do is make one extra payment per year. You could put a work bonus toward it or simply increase each mortgage payment by one-twelfth. That will shorten your payment period by four years, which will save you a lot of money.

If you are like most Americans and only plan on living in your home for five to seven years, you may want to consider refinancing to an adjustable-rate mortgage that’s fixed for five to seven years. This can save you tons of money as well.

The money won’t come out of nowhere. Sacrifices will need to be made. However, if you cut some wasteful spending and just apply it to your mortgage, your run on the mortgage treadmill will be much shorter.

If you have any questions for me in the meantime, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.
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Location: Arlington County, Arlington, VA, USA

Should You Build a New Home or Renovate Your Current One?



People say renovating is actually a nightmare—it’s painful and difficult. Well, so is moving; there’s no real easy way out. So if your home has run out of space, you have two options: build on or expand your existing home or move to another.

Now, many of you like your neighborhoods, and if you live in Arlington and want to stay here, let’s explore the option of expanding your home.

You’ll need to make sure that when expanding the existing footprint of your home, it’s still within county allowances, that it meets setback requirements, and that your property can carry the additional weight added to your home. But the most important thing to pay attention to is the cost. You don’t need to have the most expensive house in the neighborhood; when it comes time to sell, you’ll see that you made a mistake by sinking too much money into it. If you’re spending $200,000 on a $1 million home, that’s fine, but if the house is worth $500,000 and you spend $250,000 on it, that may not be the smartest move.

You also need to figure out if expanding your house will actually fix your long-term problem. If you’re planning to have three more kids, adding one bathroom might not solve the issue, so you might want to look at purchasing a larger property. It really depends on your personal needs.

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You also need to figure out if expanding your house will actually fix your long-term problem.

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Building a custom home is very expensive; if we can find you a house that’s already been built in an established neighborhood, that will probably be the better option. There’s a lot of development in Loudoun County, but like a lot places in the area, it’s very tight.

Additions to homes are, of course, fine, as long as we can support and document evidence so that we can recoup your money when it comes time to sell.

Hopefully this information was valuable for those of you thinking about building additions on your home or moving to a larger home altogether. If you have any questions, feel free to reach out to me. I’d be glad to hear from you.
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Location: Sterling, VA, USA

The National Market Is Shifting, but Are We Shifting Along With It?


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If you’ve been paying attention to the latest nationwide market statistics, you might’ve noticed that in many areas around the country, we’re shifting from a seller’s market to a buyer’s market.

In our Northern Virginia/D.C./Maryland area, however, we’re still in a seller’s market.

Let’s recap some year-over-year statistics from this past September. In Virginia, the average days on market was 39 days, which was a slight drop compared to September 2017 (41 days). In D.C., the year-over-year average days on market rose from 36 to 37 days. The total number of closed sales for detached units from all three areas dropped 12% to 15%.

This means there are fewer buyers out there, and what’s going to start happening in the next several months because of this is that inventory will climb. In fact, I think we’ll have more inventory next spring than we’ve had in the past three or four years.

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I think we’ll have more inventory next spring than we’ve had in the past three or four years.

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If you’re thinking about selling, now is the best time to do it—don’t wait until next spring. If you’re a buyer, you should also think about buying now as well. Although inventory is down about 45% overall in our area, you can lock in a lower interest rate if you buy now. Currently, the average interest rate is 4.6%, which is almost a full point higher than where it was at this time last year. If you’ve been paying attention to the latest nationwide market statistics, you might’ve noticed that in many areas around the country, we’re shifting from a seller’s market to a buyer’s market.

In the meantime, if you’re thinking of buying or selling a home or you have any other questions, don’t hesitate to reach out to me. I’d be glad to help you.
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Location: Arlington County, Arlington, VA, USA

Buyers’ Standards Are High—Does Your Home Stack Up?



My guest Mike is a real estate broker in Virginia, Maryland, and D.C; he and I partnered up a month ago and today we’d like to talk about the importance of your property’s condition when it comes to selling your home.

Three months ago when the market was busier, people couldn’t get away with failing to paint their house, fix the grout in the bathrooms, or other such details, even though they felt they could.

We’re discovering that we have an available pool of buyers who’ve been pre-qualified, but they’re also quite particular about the homes they’re willing to bid on. If the house isn’t in top condition, they won’t pull the trigger.

This is why it’s important to have an agent who knows the area and what buyers are looking for. They can tell you what you’ll need to do in order to make a good impression on the buyers, whether it be hiring a handyman or a contractor to fix your home up.

We all know that we have historically low inventory, but still house aren’t selling. Sellers wonder why, but we’re here to say that your home’s condition could very well be a factor.
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Buyers don’t have to race to put offers on a property; rather, they can hold out until the house is in their definition of move-in condition.

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Buyers understand that our market isn’t undergoing a kind of gold rush. They don’t have to race to put offers on a property; rather, they can hold out until the house is in their definition of move-in condition. These buyers are ready to purchase, but they won’t move until it’s just right for them.

We’re still in a strong seller’s market. We have about two months of supply, though in D.C., inventory is starting to grow. We'll have to wait and see what will happen over the next month or so, but we’ll continue monitoring the market and updating you with valuable information.

If you have any questions in the meantime, feel free to reach out to us. We’d be glad to help.
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Location: Arlington County, Arlington, VA, USA

What the Upcoming Recession Means for Real Estate



Many of my investors ask me when the next recession is going to happen. The truth is that I don’t know. All I can do is look for answers. Many smart economists predict that the recession might start in 2020.

Our economy has been expanding since 2009 and we have seen almost a decade of growth. All signs point toward a recession soon. However, to my friends that invest in real estate, there’s no need to panic. With the exception of the 2008 recession, real estate has done really well in the past five economic recessions. A recession doesn’t equate to trouble in the real estate market.


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I wouldn’t be concerned about falling home prices in an upcoming recession.

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This recession will occur when the GDP begins to shrink for multiple quarters in a row. It’s more complex than that, but that’s what it is on a basic level. We don’t have any data to indicate that the real estate market will cause another recession, which is the only way a recession would really affect real estate.

So, I’m not concerned about dropping house prices during the upcoming recession. You shouldn’t be either. If you have any questions about the recession or about anything else related to real estate, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.
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Location: Arlington County, Arlington, VA, USA

The Benefits of Multi-Generational Living



What is multi-generational living?

Multi-generational living refers to a person sharing a household with their parents or in-laws. It has become increasingly popular over the last few years with more people searching for homes that have finished basements with a separate entrance so they can have their parents live with them. I am currently selling a house in Vienna which has live-in parents and in-laws. This totals to three families living together.

Why is this happening? People are living together in this way because of the cost of living in Virginia, Maryland, and DC. It is becoming cost-prohibitive. When people retire, they may only have the choice of moving out of state because they can no longer afford to pay their property taxes. Some, meanwhile, choose to live with their children. 
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Multi-generational living has become increasingly popular the last few years in the United States.

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Some people consider living in an assisted living community, but that is a huge expense. It could be $10,000 or more per month to live in assisted living. If you do not have that kind of money, there is a chance you may be moving in with your kids.

As you may know, I am from Lithuania, where generational living is very common. People grow up in a house and raise their own families who then have their own children. Multi-generational living in the United States, though, has become a new trend. I think that it will continue to become increasingly popular and be similar to the European model. This means that people will look for large homes and maybe even combine two or three households into one which will create tremendous savings for all members of the family.

If you are interested in finding out more about generational living or are looking at buying or selling, please feel free to reach out to me. I look forward to speaking with you soon.
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Location: Sterling, VA, USA

5 Lessons Learned From the Housing Crisis of 2007



Though it was a bad time for many reasons, there were still lessons to be learned from the 2007 financial crisis. Today I want to discuss how those lessons apply to the 2018 market, and how we can avoid making the same mistakes that we did 11 years ago.

1. Don’t buy a house you cannot afford. As a real estate professional, I still see a lot of people who aren’t meeting with their lenders to ascertain how much they can afford. Sticking to a reasonable price range per your budget will be easier on you and your finances.

2. Don’t expect your house to appreciate. Back in 2005 and 2006, people thought that if they didn’t buy a house then, they wouldn’t be able to afford one later on. That wasn’t the case, as we learned a few years down the road when the bottom of the market opened up. If you look at the long term, homes will absolutely appreciate. However, it’s never a straight line of appreciation; there will be ups and downs. The real estate cycle usually restarts every seven to eight years, but we’re about 10 years off from the last one, so if we end up seeing price reductions soon, I wouldn’t be surprised.

3. Make sure you have adequate cash reserves. Most financial planners and economists will tell you that you should have six months’ worth of reserves in your savings—if it costs $5,000 a month to live in your home, you should have $30,000 in your savings.
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Sticking to a reasonable price range per your budget will be easier on you and your finances.

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4. Put down a healthy down payment. Many people are doing 100% financing, which was part of the problem we saw back in 2007. Even if you have to sell a few years down the road when you haven’t yet accumulated a lot of equity, a healthy down payment will allow you to sell your home if your life changes to where you need to move.

5. Sell high and buy low. 2018 could be the best time to sell your home if you bought the house with the intention to flip it and make money. Now is a good time to get your home on the market—the market is hot, inventory is low, and we don’t know what will happen tomorrow.

If you have any questions or need the assistance of a professional agent, please feel free to reach out to me. I’d be glad to help you out.
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Location: Potomac Falls, VA 20165, USA

10 Expensive Day-to-Day Mistakes You May Be Making as a Homeowner



Here are the top 10 most expensive mistakes you might be making on your home:

1. Using traditional light bulbs. Did you know that if you change from traditional light bulbs to LED light bulbs, you can save as much as $150 over the life of each light bulb?

2. Ignoring a leaky faucet. If you know you have a leaky faucet and think it is no big deal, consider this: One wasted drop per second equates to 3,000 wasted gallons per year.

3. Using the wrong-sized air filter in your HVAC unit (or not replacing it regularly). You should change your air filter every 30 or 90 days, depending on which air filter you use.

4. Not using a customizable thermostat. There is no need to heat or cool your home if you’re not there. Nest or Honeywell thermostats have programmable functions that you can control with your smartphone to help you save energy.

5. Not adjusting the vents in your house. If you have a forced-air central heating system, as many homeowners do, you may be overheating or overcooling certain rooms if you are not adjusting the vents in them. 
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There is no need to heat or cool your home if you are not there.

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6. Overwatering the lawn. Inspect your sprinkler system to make sure you don’t have a broken sprinkler head. This can lead to overwatering your lawn.

7. Setting your water heater temperature too high. Unless you have a tankless water heater, you’re heating your water 24 hours of the day. Again, you do not want to burn unnecessary energy or keep your water at too high of a temperature during the summertime, so adjust your water heater temperature accordingly.

8. Having leaky windows or doors. If you can see the sun in the gap between any one of your window frames or door frames, you need to cover that gap.

9. Paying a handyman. You do not have to pay someone $200 to change a few light bulbs. Just do it yourself and save even more money.

10. Ignoring your roof’s shingles. If they are curled or some of them are missing, this is one of the exceptions to mistake No. 9. Missing shingles can cause your roof to leak, which then means you have bigger problems to worry about.

As always, if you have any questions about this topic or you are thinking of buying or selling a home soon, please feel free to reach out to me. I would be happy to help you.
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Location: Potomac Falls, VA 20165, USA

4 Ways to Add Value to Your Home



  No matter when you plan on selling, you can always add value to your home. Here are a few of our top tips.

Selling a home? Get a free home value report

Many of you have asked me about what you can do to improve the quality of your home so that you get the most amount of money in the shortest amount of time when you decide to sell. Here are four things I would do if I were to sell a house right now:

1. Fix anything obvious. If you have rotten wood or a dripping faucet, take care of it. It’s going to show up in the inspection anyway. They are cheap fixes, but they can bring your home a ton of value. Changing the carpet and redoing some paint will get you at least a 10x return on your investment.

2. Fix up your kitchen and master bathroom. The other rooms don’t matter. These are the two places you need to focus on and spend your money. Repaint the cabinets, add new counters, or add a new backsplash. There are a lot of ways we can spend a little money to get a lot of value in return. If you plan on living in the house for the next three to five years, I think it’s a great idea to do it now so that you can get some mileage out of your improvements before you cash in.

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A nice, fresh coat of paint on your front door is a great idea.

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3. Curb appeal. If you’re about to list your home for sale, you need nice, brown mulch. Professionally cleaning your windows and porch is a good idea. So is a nice, fresh coat of paint on the front door.

4. Change the windows. Energy efficiency is really important to buyers. They are looking at utility costs closely, and the house with new windows looks so much better. However, if you’re not looking to be in the home for the next three to five years, it’s probably not worth the investment.

I hope this list was helpful to you. If you have any questions for me or need any help buying or selling a home, don’t hesitate to reach out and give me a call or send me an email. I look forward to hearing from you soon.
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Location: Sterling, VA, USA

Why Are D.C. Home Sellers So Stressed Out?



Today we’re going to talk about the stress that a lot of homeowners experience during the home selling process. In this hot real estate market, with a shortage of inventory and bidding wars, you’ll hear all the time from the media that the market is “on fire” and you would think selling a home would be as easy as pie.

However, that’s as far away from the truth as possible. In this hot seller’s market, sellers are more stressed than ever. Part of this is because they are more involved than ever. They can track their properties views online, and doing so constantly can create a lot of stress. 

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In this hot seller’s market, sellers are more stressed than ever.

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Of the home sellers that were surveyed, 83% said they got enormous value from their real estate agent, but still said they were stressed out. In that same study, 30% of homeowners underestimated how long it would take to sell and 76% of these surveyed homeowners had to re-price their house.

Selling a home is much more stressful than it used to be, but it doesn’t have to be. You can still be involved in your sale without all that stress. That’s why it’s vital that you have the right professional representing you, someone who can take the stress off you and handle the job.

If you have any questions for me in the meantime or are interested in selling your D.C. area home, don’t hesitate to give me a call or send me an email. I would love to hear from you soon.
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Location: Washington, DC, USA

What Do Agents Actually Earn From Their Commission?



A lot of people come to me asking how people make so much money with real estate. But, before you get too excited and get a real estate license yourself, you need to consider the truth about what agents really earn.
 
Let’s consider a house listed at $500,000 with a commission rate of 6%. In this case, that 6% adds up to $30,000. This may sound like a lot, but what if you start breaking it down?

Keep in mind that 99% of the transactions will have two real estate agents. One agent will represent the buyer, while one is going to represent the seller. This means that the 6% we mentioned earlier is going to be split in half.

But it doesn’t stop there. Agents often work on a team, so the $15,000 you thought was left is actually going to be split again. Let’s be generous and assume this split is going to be 50/50 again, and that the agent will be left with $7,500. What happens from there?
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The next time you see a big total and think that’s what an agent is actually earning, think again.

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Well, to have an active real estate license, you’ve got to associate yourself with a brokerage. This means that you’ll need to pay fees.

The broker fee can be 30% or even 40%. If you take that fee out of the $7,500 we mentioned earlier, that leaves just about $4,000.

That isn’t all. Then you pay other annual fees, your multiple listing services dues, and a few other costs as well, leaving a grand total of about $3,000.

Ultimately, agents may tend to end up with just 10% of the commission. So, the next time you see a total like $30,000, $40,000, or even $50,000 and think that’s the number an agent is actually earning, think again.

If you have any other questions, would like more information, or want advice on how you can be successful as a real estate agent, feel free to give me a call or send me an email. I look forward to hearing from you soon.
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Location: Potomac Falls, VA 20165, USA

Condos vs. Single-Family Homes: Which Is Better for You?


Both condos and single-family homes have their share of benefits and downsides. Whichever is best for you depends on your situation.

Should you buy a condo or a single-family home? What are the benefits and downsides of each?

Younger buyers who don’t have families to take care of or don’t want to live in the suburbs gravitate toward buying condos in Arlington or the DC area. Three or four years later, however, they usually end up making the move to a single-family home because they now have families and pay attention to school districts and other details that pertain to that change in lifestyle.

One of the biggest benefits of buying a condo is that your level of maintenance is very low. Certain amenities are taken care of for you, as well. For example, you might have access to a pool or an assigned parking place. If you travel a lot, condos are especially ideal to own because they’re turnkey. You can leave for two months and come back and everything will be the same as you left it.

If you plan on having a family, you can probably skip buying a condo.

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One of the downsides to condos is you can’t make any upgrades or renovations to them, usually because their bylaws restrict making any serious changes. With a single-family home, you can do whatever you want to the property, though that can depend on whether you live under a homeowners association.

One of the downsides to single-family homes if you work in downtown DC is you’ll likely be commuting to work from further away. If you work elsewhere and you plan on having a family, you can skip owning a condo and buy a single-family home somewhere with a good school district.

Depending on your current situation, you don’t necessarily have to do one or the other. Like I said, buyers in our market often buy condos or townhouses and then sell them before settling in a single-family home.

If you have any further questions about the advantages and disadvantages and condos and single-family homes and which one makes the most sense for you, give me a call. I look forward to talking with you soon.

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Location: Washington, DC, USA

Should You Invest in an Airbnb Property?


Should you invest in an Airbnb property? There are three things you should know if you are considering this move.

Is Airbnb a good investment?

There are a lot of people researching this new investment opportunity. We have one person beta-testing a property in D.C. and another in northern Virginia strictly as Airbnb rentals, so I’ll be able to give your more specific information about those investments in the next few months and tell you if that provides a good cash flow.

For now, there are three things you should know if you are considering an Airbnb investment property:

1. Location and zoning. Make sure that your Homeowners Association allows short-term rentals. If you have a condo in D.C.,  Maryland, or Virginia, most bylaws do not allow short-term rentals. In fact, you have to have a lease of at least six to 12 months if you have a condo; you cannot do anything similar to a hotel rental.

That said, there are a lot of people who do use their condos as Airbnb rentals because they understand that the city does not have the manpower to enforce those laws.

I do not recommend going that route. You can definitely find townhomes or single-family homes that you can invest in without breaking any laws and still run a very successful Airbnb.

Ultimately, the most important thing is to understand the area laws and know what you should or should not be doing.

2. Decide if you want to hire a professional management company that specializes in Airbnb rentals. The company will provide a turnkey operation; you don’t have to do anything. They can take care of you and you will get a deposit every month, so it is a good way to make a profit. You can also manage the property yourself if you have enough time on your hands.
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Make sure that you know the laws regarding short-term rentals in your area.

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3. Have an exit strategy. I always recommend that you have an exit strategy for your investment properties. The first exit strategy would be selling the property. If you decide that the Airbnb property isn’t working for you six months after buying it, you need to know what kind of haircut you will have to get if you decide to sell.

Remember, with relocation taxes, closing costs, and broker fees, you will need to spend money to sell the home. You need to make sure that you can sell in six months without losing money on your investment.

The other option is to turn your Airbnb property into a long-term rental. Get a tenant in for 12 to 24 months so that you can create a positive cash flow without losing any money.

As I mentioned earlier, I will have some more details for you on Airbnb investment properties in the next few months. If you have any other questions in the meantime, please don’t hesitate to reach out to me. I would be happy to help you!

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Location: Potomac Falls, VA, USA

How Does Real Estate Investing Generate Wealth?


If you’re still not convinced investing in real estate is a good idea, today I want to demonstrate how the numbers stack up in your favor.

Today I want to talk about my favorite subject—building wealth by investing in real estate.

I own many rental units and I love investing in real estate. I know you might not like the idea of investing in real estate for a variety of reasons, but I want to show you how the numbers add up and let you decide from there if you want to try generating wealth by investing in real estate.

Let’s say you locate a $300,000 townhouse. If you put a 10% down payment on it, that equals $30,000 you would invest into that $300,000 price for a total loan amount of $270,000. A $270,000 loan at 4% interest gives you a monthly fee of $1,289. Add to that fee $300 for taxes and $70 for insurance, and you’ve got a total monthly payment of $1,659.

A townhouse of this price in northern Virginia and Maryland can easily rent for $1,800 a month, so your cash flow would be close to $200 each month. You can also get a home warranty to protect yourself from unwanted expenses that might disrupt that cash flow.
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The numbers tell the story.

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Every time you pay that $1,289 monthly fee, $389 of it goes toward the principal, or paying down your loan amount, and $900 goes toward interest. Early on in the process, you’ll pay a lot of interest. However, if you hold on to the property for long enough—say, 20 years—your interest payment would shrink to $400 and the principal payment your tenants pay would increase to $864.

If the rent is $1,800 now, where do you think it will be in 20 years? Do you think it will be the same? Maybe a little bit more? Perhaps $2,000 more?

Actually, try $4,000. Your monthly payment after 20 years would still be just $1,289, and your tenants would pay $864 toward your principal. At that point, you’re printing money with this property.

For a moment, just think of the appreciation aspect. In the last 50 to 60 years, statistics have shown that homes in the U.S. appreciate anywhere from 3% to 5% annually. This means a $300,000 home would appreciate $9,000 in the first year alone. Add that factor on top of everything else, and the numbers tell the story.

If you have any questions or are thinking about investing in real estate, don’t hesitate to give me a call or send me an email. Talk to you soon!
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Location: Washington, DC, USA

How My Referral List Can Help You in All Walks of Life


When you sell as many homes as I do, you meet a lot of experts in many different industries. I’d love to introduce you to these experts.
Buying a home? Search all homes for sale

Have you ever started a DIY project and left it unfinished because the work didn’t go the way you planned? If so, we need to talk. I have a list of experts I’d like to refer you to.

If you sell as many homes as I do, you run into many different contractors, vendors, and other professionals in other businesses. Whether it’s a plumber, an electrician, an appraiser, a financial planner, a car salesman, etc., I have many industry-leading connections you can use whether you’re selling a home or not. 

If you’re thinking of making an upgrade, an improvement, or an addition to your house, I can recommend several different people who’ve done a great job for other clients of mine who can help you too.
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I know hundreds of high-quality people who can help you with anything you want in life.

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However, my service is not limited to real estate. If you have a need for any kind of business, odds are I know someone who can help.

If there’s anything you need, please don’t hesitate to give me a call. I’d be happy to speak with you!
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Location: Washington, DC, USA

What Can A Real Estate Team Offer Over a Solo Agent?


When buying or selling, hiring a solo agent isn’t the best move. For the best results, you need a team like ours.

A few of you have asked us the question, so we thought we would answer it today. What is the difference between working with a solo agent and working with a real estate team? There are a number of them. Here’s what we can offer you as a team that a solo agent can’t.

For one, we have over 50 years of experience as a team. We’ve also got a dedicated person to closely monitor every single detail that gets you to the closing table.

If someone on our team is sick, it’s no big deal. There is always someone else to fill in, so you don’t have to wait like you would have to with a solo agent.
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Seven hands are better than one.

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We also have specialized agents on this team. Whether you’re buying or selling, our agents have specific knowledge in each area to help get the most out of your transaction. We collectively invest in technology and marketing to help our homes sell quicker. By spending more on promoting our listings, we get more money for our buyers and sellers.

If you have any questions for us or want to learn more about our team, give us a call or send us an email. We look forward to hearing from you.
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Location: Washington, DC, USA

Now Is a Great Time to Invest in Real Estate


I’m at a recently sold listing to talk to you about investing in real estate in 2017.

Today, I’m in Falls Church, Virginia standing in front of one of our recently sold listings. I wanted to let you know that 2017 is going to be a great year to invest in real estate. 

This particular property is located inside the Beltway in a neighborhood where a lot of activity is taking place. Homes are being torn down and new homes are being built. This home sold for $335,000, so if you are a first-time home buyer or investor looking to build your real estate portfolio, right now is an excellent time to invest in neighborhoods like these.
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Right now is a fantastic time to invest in real estate.

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If you lock in a 4% interest rate and have someone else pay off the mortgage, the investment opportunity can’t be beaten. 

If you have any questions, please feel free to give me a call or send me an email and I’ll connect you to the right property. I look forward to hearing from you!
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Location: Potomac Falls, VA 20165, USA
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