Be a better landlord

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buy and hold, Buying a home, Investment properties, Jacksonville Real Estate, real estate investing

Photo by Canva Studio on Pexels.com

Rental properties are one of the best ways to earn passive income and build wealth, but “passive” is a little misleading—it can still be a substantial amount of work. However, with a little planning and dedication, you can run your properties efficiently while also keeping your tenants happy.

Treat it like a business
Successful businesses have plans and procedures that keep things running smoothly, and the same should be true for renting and managing your properties. That means committing to customer service, outsourcing work appropriately, and paying close attention to income and expenses. Don’t just assume that you’ll collect a check each month and everything else will be a breeze.

Thoroughly vet your tenants
Collecting applications, interviewing tenants, and checking references means a lot of legwork up front, but it’s worth it in the long run. Choosing the right tenant could mean going years without incident—no late payments, no legal issues, and no property damage. Choosing the wrong tenant could mean monthly calls and visits to collect late rent, expensive property damage and repairs, eviction processes, court dates, and a whole lot of stress.

Make sure your lease is rock solid
Lease agreement laws vary from state to state, so don’t cut corners—find a lawyer who specializes in lease agreements. You’ll be glad you were thorough if you ever have legal issues with a tenant.

Are you ready to purchase an investment property? We can help! Give us a call today; we are happy to lead you in the right direction.

Kevin and Jennifer Hanley, REALTORS Keller Williams Realty Atlantic Partners Southside 904-515-2479 http://www.HanleyHomeTeam.com

Summertime…and the Grilling’s Easy

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Backyard barbecue, bbq, BBQ recipes, grilling, patio, real estate, real estate advice, real estate investing

The good weather’s on its way. Let’s fire it up!

Whether you’re a die-hard charcoal fan, or more of a Hank Hill “taste the meat not the heat” propane griller, we hope you enjoy these tips and recipes. One of the great joys of owning your own home is making a space for a little outdoor cooking. It can be hard to grill on an apartment balcony!

The Hearth, Patio & Barbecue Association (http://www.hpba.org/) recently shared these interesting facts for National Barbecue Month. You can see why grilling is so popular!

81% of Americans report that at least one aspect of grilling outside is easier than cooking indoors. The most convenient parts are cited as cleanup (49%) followed by the cooking process itself (40%).

The majority of adults (58%) agree that cooking out is more fun and relaxing than dining out and beneficial for avoiding travel (58%), dress codes (57%) and crowds (56%).

70% of Americans say cooking out gets them in a healthier routine, specifically by encouraging time spent outdoors instead of cooped up in the house. Outdoor cooking also encourages adults to make smarter food choices such as eating fresh rather than frozen foods (54% agreed) and cooking healthier food on the grill overall (40% agreed).

(Source: http://www.hpba.org/consumers/barbecue/national-barbecue-month-2011-summertime-and-the-grilln-is-easy)

Get your tongs, spatulas, brushes, rubs, marinades, and skewers ready. Grilling doesn’t always have to be about meat. If it grows, you can grill it, and adding garden variety fruits and veggies can transform a BBQ experience. Check out 15 amazing recipes, recently featured on the Pacific Coast Farmer’s Market website:

15 Great Seasonal Grilling Recipes:

https://www.realsimple.com/food-recipes/recipe-collections-favorites/seasonal/4th-of-july-recipes

Also: Don’t neglect to “set the stage” for grilling when selling your home. Dressing the patio for cookouts can get your buyers thinking of the fun summer afternoons ahead.

Invite the neighbors (and your real estate agent!) over and get grilling!

Looking for a patio you can call your own? Time to upgrade from no back yard to a grill-worthy lot? Get in touch with us today! Kevin and Jennifer Hanley, REALTORS The Hanley Home Team of Keller Williams Realty Atlantic Partners Southside 904-515-2479 http://www.HanleyHomeTeam.com

 

7 Ways Downsizing Saves Money

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downsize your home, downsizing, entertaining at home, home ownership, Homes in Jacksonville FL, insurance, Jacksonville Real Estate, maintenance costs, property taxes, real estate, real estate advice, real estate investing, real estate tips, repairs, utility costs

Downsizing is hardly a dirty word these days, especially as Baby Boomers begin to question the size of their home, and more Millennials are finally making their way into the world. Home ownership is a good investment at any size, and if you’ve ever wanted to free up some cash for the rest of life’s joys (travel? new hobbies? investing?), downsizing can be a great way to rightsize your budget. Here are seven ways downsizing can foster a little more financial freedom:

1. Utility costs. If your gas and electric bills have been climbing year over year, consider the pleasant surprise of heating and cooling 1,200 sq. ft. instead of 3,500. Controlling the climate in empty spare bedrooms is pointless when you don’t need the room. What’s more, you can count on fewer houseguests with less space, and this, in turn, can decrease utility costs.

2. Maintenance costs. How big is that lawn? How many rooms need to be refreshed with a coat of paint? How many windows do you need to wash, and what about the size of that driveway that must be repaired and sealed?

3. Insurance. Your insurance bill is based in large part on your appraisal, and if your new home is smaller, your insurance bill should shrink as well. (This can vary based on location and levels of coverage, of course, but you would be hard pressed to insure less for more!)

4. Property taxes. Much like insurance, tax rates tend to be based on a percentage of assessed value. Here’s a few more dollars back into your wallet.

5. Repairs. How many toilets do you need to have fixed? Appliances? Light fixtures to keep lit? The smaller home has fewer leaking faucets and a smaller roof to replace. Your overall spend on maintenance goes down when you have less home to maintain.

6. Furniture. Downsizing is a perfect opportunity to sell excess furniture and find keep only those pieces well-loved or essential for your new smaller space.

7. Hosting and entertaining. When you’ve got that sprawling home, your place is ground zero for out-of-town guests, relatives, and holiday parties. As your space shrinks, so does your annual hosting and entertaining budget. Besides, if you really want to throw a shin-dig, you can take some of that downsizing cash and pick a perfect venue.

Looking to downsize and redirect that extra cash? Get in touch: Kevin and Jennifer Hanley, REALTORS The Hanley Home Team of Keller Williams Realty Atlantic Partners Southside 904-515-2479 http://www.HanleyHomeTeam.com

Real Estate’s Potential for the Greatest Good

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Homes for sale in Jacksonville, real estate, real estate consultant, real estate information, real estate investing, real estate jacksonville fl, Real Estate Team, real estate tips, The Greatest Good

“The greatest good you can do for another is not just to share your riches but to reveal to him his own.”

-Benjamin Disraeli (1804-1881); Prime Minister of the United Kingdom

What does it mean to reveal a person’s riches to themselves? What is the mechanism by which you can even accomplish such a thing? And what does it have to do with your real estate agent?

Quite a bit!  A real estate agent has the power to reveal their clients’ self-possessed riches.

One, a good agent will help clients see how a home is an investment in their future. That they are investing in themselves, and the decision to do so is a mark of their own wisdom.

Two, a good real estate agent helps guide clients through an emotionally fraught transaction, which often shows they have deeper reserves of self-confidence and strength that they may have overlooked in the past.

Three, a real estate agent helps foster a sense of trust and interdependency — that we can, in this world, rely on others to represent our best interests, and that we are not in a perpetual state of “king of the mountain” and abject self-reliance. A client with a good agent has both a friend and a professional ally.

Whether you’re buying your first house or selling your home, there’s both a tangible, bottom-line difference when working with an agent, as well as valuable intangible benefits. For us, it’s a great privilege to be a professional part of that process!

We’d love the opportunity to “the greatest good” on your behalf.  Now is a great time to make your next move: Kevin and Jennifer Hanley, REALTORS The Hanley Home Team of Keller Williams Realty Atlantic Partners Southside 904-515-2479 http://www.HanleyHomeTeam.com

Ranking Your Home Priorities

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Buying a home, buying a home for the first time, buying a home in Jacksonville, buying your first home, Homes in Jacksonville FL, local schools, Making an offer on a home, real estate, real estate investing, real estate jacksonville fl, schools and real estate, The best real estate agent in Jacksonville, tips for buying a home, walkability

Buying a home is exciting. A new neighborhood. More space. A yard. A shorter commute. There are all kinds of reasons people get amped up to go house hunting online and start dreaming of a new home. But when the market is competitive and sellers have an advantage, finding a home that is truly “perfect” is increasingly hard to do. Sometimes this keeps people from buying, and often excellent opportunities are missed simply because buyers sit on the sidelines hoping for perfection.

On one hand, this makes sense. A home is a huge investment. Why rush into it? You want to get it right. But on the other hand, buyers forget that a home is an investment. People sometimes allow themselves to become blinded by the thought that they’re locked into a home, when in reality a home is often only held for seven to ten years on average. What you want to keep in mind as you shop is how well you’ll do from an investment perspective over time.

Adopting an investment mindset means looking at the prospects of a neighborhood, buying at a fair price, and considering factors which may not even matter to you personally as you shop for a home. Yes, you want to be comfortable. Yes, you want it to have the right layout and enough space for your needs. But you also want to imagine who might buy the home in the future.

Even if a home is not ideal, there are factors you should rank before you make an offer. Savvy investors know these four factors can have a giant impact on price when the time comes to reap a return:

1. Affordability. Look for value. Homes which are below median prices are worth a second look, simply because they allow you to prevent yourself from becoming “house poor” in your mortgage while setting yourself up for a larger return when you sell.

2. Schools. You may not have kids or want kids at the moment, but it’s a fact that good schools will help you sell and bad schools will hurt. Check into the local schools on a website like GreatSchools.com.

3. Transit and walkability. Ditching the car in favor for walkability and public transportation is a plus for a home’s value. How’s shopping and entertainment nearby? Check WalkScore.com.

4. Crime rates. BestPlaces.net will give you some insight into local crime rates. Even if crime rates aren’t ideal, see if there are any trend indications. If they’re going to improve, that could mean money in your pocket in the future.

Need more advice during your home search?  Call our team buyer experts today! Kevin and Jennifer Hanley, REALTORS The Hanley Home Team of Keller Williams Realty Atlantic Partners Southside 904-515-2479 http://www.HanleyHomeTeam.com

6 Pre-Inspection Tips for Sellers

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home inspection, Jacksonville, Jacksonville Real Estate, pre-inspection, real estate, real estate advice, real estate information, real estate investing, Real Estate Team, seller tips, tips for sellers

Everyone wants a smooth home inspection. Sellers, buyers, agents… everyone’s rooting that this high-stakes moment passes without a hitch. Add to that list the home inspector, too! Save time, save money. If you’re selling, there are things you can do to make the home inspector’s job easier and help ensure the most accurate report possible.

1. Declutter your appliances. Get the pots off the stove, remove pans stored in the oven, take that bowl out of the microwave, and check the washer and dryer bins for clothes. While all of these appliances need to be tested, you don’t want an inspector rummaging through your laundry or scorching a pot to get the job done.

2. Replace burned-out lightbulbs. If a light switch doesn’t work, the inspector will need to determine if it’s a problem with the fixture itself. Take the time to hunt down those lightbulbs that might be out-of-the way, too… (Closets, attics, basements, guest rooms, etc.)

3. Keep access doors clear. You might have furniture blocking seldom-used crawlspace entrances, or the space for the pull-down stairs up to the attic may be obstructed. Make these entryways clear to the inspector and save them the time and hassle of getting into hidden areas.

4. Be honest about what doesn’t work. Don’t deceive your home inspector or hope they’ll overlook something. It’s bound to come out, and failure to disclose home defects can be a legal hassle down the line. Know the garbage disposal is broken? Say so. Leave notes for the inspector or prepare them in advance with an email message, etc.

5. Point out pumps and septic tank locations. If you have your own well and septic system, make sure the location of these is clearly described for the inspector. Annotate a photo or draw a simple map if need be.

6. Check your smoke detectors. People forget to change batteries in smoke detectors, and if you’ve neglected yours (or taken them down to change batteries and left them in the garage!) double-check to make sure they’re in place and functioning.

Naturally, this list assumes you’ve made any pre-inspection repairs you want to address. Want a more information about the home inspection process? Get in touch with us today: Kevin and Jennifer Hanley, REALTORS The Hanley Home Team of Keller Williams Realty Atlantic Partners Southside 904-515-2479 http://www.HanleyHomeTeam.com

Would you AirBnB your home to sell it?

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AirBNB, home selling strategy, Jacksonville FL Real Estate, Jacksonville Real Estate, real estate, real estate advice, real estate investing, Real Estate Team, real estate tips, selling strategy, short term rentals

If you stop to think about it, selling a home is a bit of a strange endeavor. You’re asking prospective buyers to make a huge investment in your home without the experience of actually living there. Yet this is standard procedure. Buyers make offers after showings without having spent a single night in the home where they’re planning on living!

Now there’s an emerging marketing trend designed to take some of the ambivalence out of buying a home. Some sellers are taking the steps to let prospective buyers “live” in their house for a few days to see if the home is right for them.

AirBnB is one platform making this strategy possible. Most effective for sellers who have staged their house and are not currently living in the listing, the approach is direct: Sellers list the home on AirBnB and when they have an interested buyer, they arrange a temporary “rental” of the property. This way, the buyers get to spend real time in the home. They are allowed privacy, the chance to see what it’s like to sleep in the house at night, and use the facilities just as they would if they owned the home.

While the approach goes a long way to calming buyer fears, the idea is not without its critics. For one, not all brokers may be comfortable with this approach. Obviously having prospective buyers temporarily rent the home can create difficulties showing the home to other buyers when the property is rented.

Also, there are infrequent horror stories associated with this type of short-term rental. Home damage and even squatters who refuse to leave have happened to people listing their property on AirBnB. Finally, there are potential legal complications related to short-term rentals in certain communities.

You can see the appeal, though. There’s a real potential for buyers to build an emotional attachment to your home if they spend a little vacation time there together while evaluating the property.

What do you think? Would you AirBnB your home if it gave you an selling advantage?

AirBnB’ing your home is hardly the only strategy for a quick, competitive sale. We have a full range of marketing and sales techniques to help you sell! If you’re thinking about selling soon, get in touch to see what we can do for you: Kevin and Jennifer Hanley, REALTORS The Hanley Home Team of Keller Williams Realty Atlantic Partners Southside 904-515-2479 http://www.HanleyHomeTeam.com

Tips for Adding a Bathroom to your Home

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adding a bathroom, adding a bathroom to your home, bathroom addition, contractors, home renovations, Homes for sale in Jacksonville, homes in Jacksonville, Jacksonville FL Real Estate, Jacksonville Real Estate, real estate, real estate information, real estate investing, Real Estate Team, renovation

Have you been living with a single-bathroom home? Is the time here to consider adding an extra full-bathroom or “water closet” to your existing layout? First, know that of all the renovations you can make to a single-bathroom home, adding an extra bathroom is one of the soundest investments you can make. With rare exception, the money you put into a second bathroom should pay handsomely when you list your house in the future. The bathroom is one of the most-used rooms in your home and it can have a profound impact on how prospective buyers see your home in the future once you’re ready to move on. If you’ve been curious about the process or want to make the leap two a two-bathroom home without relocating, you’ll want to keep some tips in mind about this special renovation project.

1. Think about where you can add a bathroom versus where you think it’s ideal. You’ll want to identify where your existing water and waste lines are in the home. Adding a bathroom across the house ups the complexity and expense.

2. Single-story homes with crawl spaces have a bit more flexibility for adding a bathroom since crawl spaces provide easy access for running plumbing lines. If you have a two-story house, aligning your new bathroom (either upstairs or down) with your existing one can ease plumbing challenges.

3. Adding a tub can add value, especially if you suspect future buyers might have children.

4. Natural light and ventilation are a big plus. While fans are common and should be installed, being able to draw in sunlight or air out a bathroom via an exterior wall can really upgrade the luxury feel.

5. Always get the proper permits for work and only collaborate with licensed and bonded contractors. You want to make sure you’re covered in the event of any problems and you’ll definitely want to be able to show future buyers that your work is legit and up to code.

6. Choose high-end design fixtures where possible, especially if the bathroom is small. Innovative luxury options can make the room feel larger and really add that “wow” factor. Some nice-to-have options include a towel warmer and separating the toilet from the rest of the room via a “water closet” partitioning. Go with neutral palettes and classic tiles for a timeless effect. You can always jazz up the space with rugs, towels, or other bath accessories.

If adding a bathroom sounds like more hassle than it’s worth, you might want to consider your next move! We’d be happy to help you find a home with your dream bathroom already included! Kevin and Jennifer Hanley, REALTORS – The Hanley Home Team of Keller Williams Realty Atlantic Partners Southside 904-515-2479 www.HanleyHomeTeam.com

Hiring a Property Manager

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buy and hold, Buying a home, buying an investment home, homes in Jacksonville, Homes in Jacksonville FL, property management, real estate, real estate investing

One of the most important decisions you can make as a real estate investor is hiring the right property manage for your investment property. The difference between a cash-flow positive property and a drag on your finances can be an experienced, professional property manager.

You should always interview more than one property management company when you’re evaluating property managers, but do you know what to look for in a property manager? If not, these tips will help put you on the right path.

1. Find certified property managers first. Consult the National Association of Residential Property Managers (http://www.narpm.org/) to seek out property managers with certifications and designations.

2. Look for property managers with ten to fifteen miles of your property. You need managers who are willing to be hands-on and local when it comes to managing emergencies and conducting inspections.

3. Make sure your manager conducts monthly inspections. Just because they’re local doesn’t mean they’re up on inspections, so get a guarantee they’ll inspect the property each month.

4. Inquire as to how many properties the property manager currently manages. You want to be sure they’re not taking on more properties than they can handle. It’s important your property remain a priority.

5. Ask what sort of technology they use to help them manage properties. PropertyWare, Yardi, HERO, and Appfolio are some of the leading software packages on the market. Also be sure to check out their website and any social media presence they may have.

6. Be clear about fees. Make sure you understand every detail about the manager’s fee structure.

7. Ask them to detail their screening process for tenants. Don’t be shy about asking them what sort of modifications they’re willing to make based on your preferences.

If you’re new to real estate investing, I’d be happy to start you on the path to diversifying your holdings with real property. Curious what’s on the market now? Get in touch:

Kevin and Jennifer Hanley, REALTORS – The Hanley Home Team of Keller Williams Realty Atlantic Partners Southside 904-515-2479 http://www.HanleyHomeTeam.com

 

BACK TO SCHOOL!

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Back to School, Buying a home, homes for sale in Jacksonville FL, Jacksonville, Jacksonville FL Real Estate, low interest rates, Moving to a new city, real estate, real estate investing, relocation, schools, Selling a home

It’s that time of year we think of as the “Back to School” season. It’s not really Fall and it isn’t exactly Summer, either. Maybe the weather hasn’t changed yet, but the morning commute is definitely quite a bit busier.

Each year we help families get settled before the Back to School season starts. A lot of people choose to move in the summer months. It’s often easier on the kids to break in a new school with a new school year, too.

We think a lot about kids going into a new school in a new year, and we know it can be tough for them to find new friends and get used to new routines. Just the other day, we came across this quote, and we thought it was pretty good advice for kids and adults alike:

“The way to be happy is to like yourself and the way to like yourself is to do only things that make you proud.”

(Mark S. Lewis, clinical psychologist.)

It’s a pretty good maxim to live by, especially if you find yourself in unfamiliar surroundings facing new challenges. It’s not so much what you would do to fit in, or what you think others would expect you to do… it’s doing what you know will make you proud that makes your way happier.

Our best to you and yours in this transitional season. Catch us up on your life when you have the time and please let us know how we can help you during your next transition.  Kevin and Jennifer Hanley, REALTOR Keller Williams Realty Atlantic Partners Southside 904-422-7626 http://www.HanleyHomeTeam.com