Jon Crandall - LAER Realty Partners



Posted by Jon Crandall on 11/26/2020

Photo by Mohamed Hassan via Pixabay

Buying property is a long-term investment. If youíre looking to make quick income from property, the only way is to buy low and sell high with minimal input for remodeling, upgrades, or even paint. However, if you intend to keep your property as a rental here are a few of the basics to make it profitable sooner.

Show Me the Numbers

Say you buy a house for $300,000. To get a loan for an investment property youíll need a minimum of 20% down; so in our scenario, thatís $60,000. Closing costs depend on so many things that even an estimate is difficult, but rule of thumb is three to four percent of the purchase prices. Go with an even $10,000 to keep the numbers easy. Youíre out-of-pocket $70,000 by this point.

The mortgage is for the remaining $240,000, so a 30-year fixed rate at 4.5 percent makes your principal and interest payments about $1,200 per month. Add to that property taxes of about $6,000 per year, or $500 per month, and homeownerís insurance for about $150 gives you a monthly payment of $1,850. If you have an HOA, that might be an additional $50 per month. Thatís $1900 for the basics, every month.

These numbers do not factor in upgrades, changes, paint, flooring, appliances or anything else, so remember that those items eat away at your profit too.Say that you rent it for $2,500 per month. That gives you a $600 difference. From that amount comes management fees if you pay someone to manage it for you. It also pays for lawn care unless you turn that over to the renter. Plus, for every month it goes unrented between renters, you carry the entire amount. 

Positive Cash Flow

You decide to manage it yourself and have the tenant take care of the lawn. Presuming no major systems require repair during the first year and you rent it within a month, you receive $27,500 ($2,500 x 11) in rent. You pay out $22,800 ($1,900 x 12) leaving you with $4,700 positive cash flow.

Assuming you never have to spend anything on repairs, maintenance, increases in taxes or refurbishing between tenants, it will take you 12 years and nine months to make back your down payment. Of course, if you raise the rent every year or so, youíll shorten the time to repay the down payment, but you may lose more tenants.

Is It Worth It?

Yes! After year 12, your profits increase. But only if you follow these guidelines:

  • Do buy in a nice, livable area where people want to rent.
  • Donít overspend for the property.
  • Avoid frivolous upgrades with low R.O.I.
  • Vet your tenants.
  • Remove tenants that damage property or donít pay rent.Use a property management and marketing service to reduce unrented months.
  • Know the property owner and tenant laws in your municipality. 

Some properties are more profitable than others or are profitable sooner. Your investment real estate professional knows the difference and can help you choose the right property for your investment situation. If you want to invest in real estate, let your professional agent guide you.




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Posted by Jon Crandall on 11/19/2020

No matter how much experience you have as a gardener, mistakes happen to everyone. Some gardening mistakes are actually avoidable. Below, youíll find some of the most common gardening mistakes and how to stay clear of them. Next time around that you decide to plant, youíll have an even greener thumb than you did the season before. 


You Planted Too Early


When the springtime hits, itís easy to feel eager to plant and get your crops going. Planting too early without proper grow cloths or warm enough temperatures can be completely detrimental to anything that is trying to grow. 


Watering Too Much Or Two Little


There is a finite amount of water thatís required for plants to thrive. The general rule is for plants to receive about an inch of water per week. Plants that have not been watered enough will show certain signs including yellowing leaves and wilting leaves. Any fruits that are produced will be deformed. Be sure that you make up for the deficit of water during dry spells that occur by watering accordingly.   


Plants that have been overwatered can also cause yellowing leaves. You donít want your water to pool or cause puddles in the garden. If this happens, youíll need to add a bit more organic matter to the soil itself. 


Not Planting In A Bright Enough Place


Itís a basic scientific principle that plants need sunlight to grow properly. If you have planted things in the shade, they may not thrive. If you donít have a sunny spot to plant your garden, try using portable gardening containers that you can move around. Shoot for at least 6 hours of direct sunlight per day for your plants.       


Not Weeding


Weeds can obviously choke your crops, sucking moisture and food away from the plants. If you donít actively work to eliminate weeds, your plants will suffer greatly. Eliminate weeds as soon as you spot them. Allowing one weed to flourish is to allow them all to take over! Mulching can be a great start in helping to keep weeds away. If any weeds are found after the mulch has been put down, be sure to move them promptly. 


Planting Too Much


If you plant too much, space can become a problem. Focus on planting what you and your family like to eat and will actually use. This problem comes down to a matter of preference and taste. You donít want to spend a ton of time gardening just to realize that  youíve completely wasted your efforts. 


Keep in mind that thereís always something new to learn when it comes to gardening. Know that no matter what level of gardener you are mistakes are inevitable but not completely unavoidable.         





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Posted by Jon Crandall on 11/12/2020

A buyer's market can challenge even the most diligent home seller. Fortunately, we're here to help you stir up plenty of interest in your house, regardless of the current housing market's conditions.

Now, let's take a look at three tips to help you get ready to sell your residence in a buyer's market.

1. Assess the Housing Market

You know a buyer's market favors homebuyers over home sellers, but you still have no idea how this market operates. Fortunately, if you allocate time and resources to learn about the local real estate sector, you'll be better equipped than ever before to maximize the value of your home.

Take a look at the prices of recently sold houses in your city or town. That way, you can see how long these homes are generally available before they sell. You also can examine the sold prices of these houses to better understand how you should price your residence.

Furthermore, you should assess the prices of available houses in your city or town that are similar to your own. This housing market data can help you establish a competitive price for your residence from day one.

2. Perform a Home Inspection

A home inspection commonly is performed after a seller accepts a buyer's offer on a house. However, if you perform an inspection before you add your residence to a buyer's market, you can take a proactive approach to address various home problems.

During a home inspection, a property expert will examine your residence and detail his or her findings. You then can use the home inspection results to prioritize home improvement projects and upgrade your residence. As a result, you can enhance your house and find ways to differentiate it from the competition.

3. Consult with a Real Estate Agent

Selling a home in a buyer's market is exceedingly difficult, especially for those who choose to work alone. Thankfully, real estate agents are available to guide you along the home selling journey and ensure you can achieve the optimal results.

By hiring a real estate agent, you can receive extensive assistance at each stage of the home selling journey, even in a buyer's market. First, a real estate agent will learn about you and your home, as well as your home selling goals. This housing market professional then will offer recommendations to help you enhance your home and ensure it stands out to potential buyers. Next, a real estate agent will list your residence and host open house events and home showings. And if a buyer submits an offer on your house, a real estate agent will help you review this proposal and make an informed decision.

When it comes to selling a home in a buyer's market, there is no need to worry. Take advantage of the aforementioned tips, and you can separate your residence from the competition and boost the likelihood of a profitable home sale.




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Posted by Jon Crandall on 11/5/2020

Image by Irina from Unsplash

Whether you have young pets or older ones, there are certain household hazards to be aware of. Puppies and kittens can get into trouble while exploring different parts of your home out of curiosity. Adult dogs and cats can also end up getting hurt or sick from common household dangers for pets. Keep the following tips in mind to make your home as safe as possible for your pets.

Food Hazards

Some types of foods are toxic to dogs, cats or both. Chocolate, grapes, raisins, onions, garlic and macadamia nuts are among the foods that can make pets, especially dogs, seriously ill. You should store these foods out of your pet’s reach, and immediately pick up any that falls on the floor before your pet can get it.

Toxic Plants

Certain household plants and flowers can cause potentially life-threatening illnesses in dogs and cats if they ingest them. For example, lilies, amaryllis, daffodils, tulips and hyacinths are considered toxic to cats. For dogs, azaleas, irises, sago palms, begonias and philodendrons are among the plants that are considered toxic to dogs. You should avoid having these types of plants inside your home to lower the risk of your pet ingesting them. If you do have any plants that are toxic, you should keep them in an area that your pets can’t get to, such as high on a shelf or in a closed-off room.

Medications and Cleaning Products

Medications and cleaning products can make pets dangerously ill if they swallow or ingest them. You should store these items in cabinets that your pets can’t get into. Consider installing childproof latches on cabinets to prevent your pets from being able to open them.

Wires and Cords

These items can become strangulation hazards in your home, especially when you have curious pets around. Wires and cords also put pets at risk of electrical shock if they chew on them or play with them. Hide cords and wires out of reach of your pets, and use childproof window blind products to prevent your pets from playing with these types of cords.

String and Small Items

Dogs and cats can end up with serious injuries if they swallow pieces of string or small items, such as buttons. This can happen if they chew on clothes or get into sewing supplies. You can reduce this risk by keeping clothing items, shoes and craft supplies stored away in an area that your pets can’t reach. You should also check your rugs and furniture for strings or small items that might have fallen off clothes or other objects before your pets find them.




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Posted by Jon Crandall on 10/29/2020

This Single-Family in Ayer, MA recently sold for $370,000. This Colonial style home was sold by Jon Crandall - LAER Realty Partners.


66 Pearl St, Ayer, MA 01432

Single-Family

$339,000
Price
$370,000
Sale Price

7
Rooms
3
Beds
1/1
Full/Half Baths
Enter into this beautiful 1,300+ sq ft Colonial from the front porch to be greeted by a foyer w/ stairs leading to the 2nd floor & a coat closet. A captivating front to back Dining/Living Room are center stage both illuminated w/ a plethora of natural sunlight & HW floors. Seamlessly flow into the updated white Kitchen w/ SS appliances, an island for addt'l seating & glass door leading to a quaint sunroom characterized w/ shiplap, accent beams & a wood feature wall. The main level also offers a 1/2 Bath for guest convenience. Upper level access is easy here, w/ 2 staircases leading to the 2nd floor hosting a Master Bed w/ double closets, full Bath & 2 addt'l Bedrooms. The partially finished walkout basement lends plenty of storage & workshop space. A dual level deck w/ privacy fencing offers a space for entertaining & overlooks the above ground pool & scenic backyard boasting a fruit plantation w/ grape vines & apple trees along w/ a firepit all backed by the Nashua River Rail Trail.

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Tags: Real Estate   Single-Family   Ayer   01432  
Categories: Sold Homes  




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