Lifetime membership in the New Jersey Association of Realtors Distinguished Sales Club for 14 years of Bronze and Silver Circle of Excellence Awards, Cathy Vick of ERA Justin Realty provides outstanding service to her buyers and sellers. Her overview of investment properties may fill the gap for readers.
Increasing Investment Potential, An ERA Justin Realty Overview
Buying or selling a house is one of the biggest decisions most people will ever make with their finances and their lifestyle. Getting the best bargain in the purchase or making the most profit on the sale give buyers and sellers so much to think about that many may never stop to consider buying another as an income-generating property. The rewards in savings and profits can be high.
Cathy Vick a Realtor salesperson with ERA Justin Realty for thirty years was selected as Realtor of the Year by the RealSource Association of Realtors with 3,500 members who shared “One option for buyers who otherwise might consider home prices beyond their reach is a property that helps pay for itself; a house you live in part of and rent the rest of. This offers not only an obvious balance of cost and income, but perhaps lesser-known benefits in taxes and mortgage that you should consider with your tax advisor. The rental units can be depreciated over time and considered to offset the rental income. This may lower your taxes on that income. At the same time, the rents addition to your finances helps you qualify for a larger mortgage, and investors who occupy their rental properties can, under certain conditions, get interest rates lower than those who do not. Many mortgage lenders provide varied mortgage programs. Our menu of mortgage lenders will provide updated information when you begin your home search. We can tell you more. Of course you’ll want to decide if the demands of being a live-in landlord are for you, and explore if rent-control laws in your area might limit the return on your investment. If being an offsite landlord is more appealing, you could always keep your current home as a rental after you move into the new one. Your long-tern familiarity with the home’s features and condition could lend a certain confidence both to yourself and your potential tenants. As with any investment property, you’ll first want to calculate whether the rental income will make up for the needed expenses. This is another consideration in which one of our qualified real estate sales professionals can help with his or her knowledge of the local rental market and its prospects over time.
If you are pleased with the prospects, then you may even prefer a fixer-upper to your familiar former home. With a thorough inspection to answer any questions, and a realistic budget and disciplined schedule to handle all improvements, your outlays may prove to be well worth it. Renovations can range from reconfiguring the floor plan to simply replacing now-unfashionable decor.
Owning an income-generating property may not be for everyone, but, from younger buyers offsetting their purchase costs, to seniors easing the expenses of their retirement years it can be for many kinds of people. Talk to a real estate sales professional at ERA Justin Realty to find out if rental property would be double trouble or two times the success for you personally.”
Vick concluded, “At ERA Justin Realty the words, ‘There is a difference in real estate companies’ is more than a phrase. We live it every day. Because of our daily priorities, we proudly received the prestigious ERA world-wide 2003- 2012 ‘Commitment to Excellence Award’ a select few from approximately 30,000 ERA brokers and agents from all across the ERA nation.”
Vick and all of the ERA Justin Realty full service sales professionals can be reached at either of their two Rutherford offices at 118 Jackson Avenue and 57 Park Avenue. By office phone (201) 939-7500, (201) 438-0588 or (201) 438-SOLD. Additional cutting-edge real estate technology information awaits you at their winning search websites at www.ERAJustin.com and www.ERAJustinRealty.com.