This homebuying checklist breaks down the process into 15 main steps. Each step involves choices and actions. It can be stressful, it can be cool, and it can also be kind of annoying. Each step will bring you closer to your goal of becoming a homeowner. 1. Preparation The first step to buying a house is to be financially prepared (see Step 2). Are you emotionally prepared? You are making a … [Continue reading...]
Investing in Rental Properties in the Denver CO Area
Thinking about investing in a rental property? Already have a portfolio of rental homes? Find helpful articles on real estate investing below.
Rent Decreases for Non-Seasonal Properties
In its special multifamily rent forecast for 2023, Yardi Matrix predicts non-seasonal declines in average asking rents. Yardi Matrix says interest rates that continue to rise, “will, eventually, take their toll on the job market, and rather than adding more jobs than economists expected every month, there will almost certainly be job destruction and the requisite pothole in household formation, … [Continue reading...]
Furnished vs Unfurnished?
Long-term rentals are always unfurnished. All of these tenants have their own furniture so if there is furniture already in the property, then the tenants have to rent a storage unit and it costs them a couple of hundred dollars extra to rent their home, effectively pricing the owner out of the market. Usually, that alone gets the point across, but if they still need more, I tell them most … [Continue reading...]
Colorado Springs Home Sales Decrease but Prices are Rising
While home prices continue to rise, Colorado Springs-area home sales fell last month and the supply of homes for sale ballooned to a nearly three-year high - signs that rising mortgage rates are finally affecting the housing market. In June, the Pikes Peak Association of Realtors reported 1,712 sales of single-family homes and patio homes in the Springs area, a 5.7% decline over last year … [Continue reading...]
Should Landlords be Concerned about a Recession?
A recession occurs when economic activity declines significantly over a period of months or even years. Economic experts define recession as a period of declining income and manufacturing for an extended period of time, as well as negative gross domestic product (GDP), rising unemployment, and falling retail sales. Should landlords be concerned about a recession? An economy's regular cadence of … [Continue reading...]
How to start Investing in Real Estate
Investing in real estate is usually done with one goal in mind: earn more money! We all want to earn more money, right? But how is that achieved? Learning from those who have already accomplished this is essential to your success. Reading a book like Rich Dad, Poor Dad, can give you a good start in real estate investment. This book will help frame your perspective on money and wealth and how … [Continue reading...]