Timely Tips For The New Real Estate Investor

Timely Tips For The New Real Estate Investor: Whether you want to diversify your investments, develop cash flow for your retirement years or achieve other financial goals, investing in real estate can be a smart idea. Real estate tends to be less volatile than the stock market, and the owners of investment properties can benefit from price appreciation as well as the current rent roll.

That does not mean that owning investment real estate is an easy road to riches. If it were, everyone who owned an apartment building or a rental home would be rich, and clearly, that is not the case. If you are new to the world of real estate investing, you need to plan carefully, develop a strategy for success and treat your new endeavor like the business it is. In my experience as a real estate investor, it makes sense to understand your investment personality, but also the role the business of real estate plays in your daily life. Here are some timely tips new real estate investors can use to make more money while reducing their risk.

Treat Your Real Estate Investment Like The Business It Is

If you decide to take the plunge and become a real estate investor, you need to treat your new endeavor like the business it is. Real estate investing is a serious business, and you need to take it seriously.

Investor

New real estate investors often make the mistake of treating their properties as a hobby or a sideline. If you approach your real estate business casually, you will never achieve the best results. Take your business as seriously as you would any other professional undertaking, and get your new investment off to a great start.

Know Your Strengths, And Your Weaknesses

Everyone has strengths and weaknesses, and knowing what you do well and where you might need help is essential. If you want to succeed, you need to identify your strengths, and your weaknesses, before you buy a single piece of property or collect a single rent check.

 Are you a master plumber and a skilled electrician? If so, you may not need much outside help. If you lack the carpentry, plumbing and electrical skills you need, be sure to research the cost of those services and build that into your cash flow assumptions.

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Source: Timely Tips For The New Real Estate Investor

Why Buy in the Stoneham Community?

The Stoneham Community

A town of 22,000 located only 10 miles from Boston, has a great small town feel. The downtown area has a high walkability index and with multiple exits on both I-93 and Rt. 128 is great for commuting both to Boston and to the North Shore and 128 corridor.  For those who want public transport, the 132 MBTA bus goes direct to Oak Grove station or you can use a number of nearby commuter rail stations. Houses here are a relative bargain compared to neighbors such as Winchester, if you can find one.  Housing stock is snapped up fast. Real Estate website Movoto rated Stoneham as #4 in its  list of Best Boston Suburbs.   Citing its historic homes, family friendly amenities such as the Stone Zoo, adult pursuits such as restaurants and the Stoneham Theatre, and low commute time.

Home to resources such as the Middlesex Fells…

The Stone Zoo and the Stoneham Theatre. Stoneham has a number of amenities that make it a fantastic place to live, visit, and work.  Its downtown area and Common with Town Hall, churches and a gazebo scream New England charm. Whether you want recreation, culture, shopping or history, you’ll want to check out Stoneham. ​

Stoneham schools were rated in top 50  in 2015 and 2016 by Boston Magazine, besting many other local school systems.  In 2014, the town opened a new updated Middle School and is poised for a major renovation to its high school. Stoneham is also among the safest communities in Massachusetts using federal safety and crime data.

Stoneham Square is the heart of Stoneham’s downtown center…

The Town Center is being improved with a five-year action plan to improve public transportation and walkability, add community events, and beautify the streetscapes. The square features a number of shops and restaurants with dishes ranging from coffee and quick bites to upscale American, Italian, Indian and Asian fusion. Also in the Square, Stoneham Theatre helps keep the art of professional theater thriving in the suburbs. Outside the immediate Stoneham Square area are additional restaurants and shopping along the Rt. 28/Main Street corridor and Redstone Plaza, soon to host a Target Express.

The sense of community stems from…

From a Farmer’s Market on the Common to a Food Truck Festival, Stoneham offers a number of annual and special events and attractions such as the Stoneham Theatre, summer Concerts on the Common, parades, a Halloween Stroll, Zoo Lights, Town Day Celebration, Holiday Tree Lighting and an ice skating rink on the Common.

Two jewels of recreation exist in Stoneham.  An entire third of the town is open space, most notably one of the crown jewels of the Massachusetts park system, the 2575-acre Middlesex Fells Reservation. Miles of trails are open for walking, hiking, climbing, biking, snow-shoeing, cross-country skiing, and horseback riding. Or take your dog to the Sheepfold for some off-leash exercise. You can also experience a beautiful day fishing or boating on Spot Pond, with summer boat rentals. Along with being a great family day out, the Stone Zoo offers events such the annual Zoo Lights festival, where you can see a spectacular light show, visit with live reindeer and even ride a camel.

There are a number of other recreational activities from a public pool to a  large number of youth sports, Boys and Girls Scout troops, Boys & Girls Club  and new Recreation Department. Construction is starting in 2017 on the 7-mile Tri-Commuity get away that will connect Stoneham to Winchester’s Wedgemere Station via Woburn.  Stoneham also boasts a skating arena and three local golf courses.

You can check out more on the community on www.explorestoneham.com or the town website www.stoneham-ma.gov.

Written by: Dolly Wilson, Chairperson for Stoneham Bikeway/Greenway Committee

 

Automation Integration VS Automation Replacement

In a time when the driverless car seems right around the corner, when search engines and text messages complete sentences before you finish typing, when social media shows you ads for products you search the most and when you call to pay a bill and speak with a computer instead of a human… automation is appearing in more and more places and industries and if done correctly presents itself as integration rather than replacement. So, what automation is good? When is it too much?

 

I’m Michael Nielson, Loan Officer with Radius Financial Group. I am young, old school. I am 27 going on 50. 2016 was the first year that I started using direct deposit because I liked seeing a check and didn’t trust a computer to deposit my money each paycheck consistently… so… when the thought of applying and receiving a mortgage in 5 minutes appears in TV ads for some of the big bank guys (you know them) my old man meter jumps through the roof! Apply for something that you are legally obligated to for 15 or 30 years in 5 minutes and make a decision that quickly! The other side of me who understands technology and what it has done to get us where we are today says… how awesome is it that we can get so many things right at our fingertips these days, to get a mortgage in my great grandfathers day, he had to take a day off from work, wear his nice suit to impress the banker, wax his Buick so it looks like he has money and etc…

Smart phones today have so many features and applications that replace mundane activities such as, ordering takeout food, calling for a taxi, paying your bills with auto pay and the list goes on. The positive behind these applications is they replace the tedious time spent having to write a check to the phone company or wait on hold ordering food. But where does replacing the mundane and tedious have a value and where does it pose a threat? If I can save three minutes on the phone by placing my order with an app, I am on board with that. If I can tap yes on my credit card app to pay the bill, I am on board with that. These are small replacements to small decisions. GETTING A LOAN FOR $300,000! with only an app, I am not on board with that. Who is advising about where rates are and where they might go? Who is going over closing cost differences between programs? Who is asking about down payment assistance and where to go to apply for it?

At Radius we offer an online application that does a great job of expanding the communication window. What I mean by this is, our app offers you the ability to walk step by step through a mortgage application, a loan officer gets a notification that you have completed your application and can now follow up about your options. So if you want to apply at 10pm on a Sunday you can! The application program just bridges the gap of consumer availability and loan officer availability. It does not replace the decision making steps that a good loan officer will guide you through, asking the questions that do not appear on a mortgage application. What are your personal finance goals? What are your professional goals? How long do you intend to stay at this home? Some may say why do I want to talk about personal things with a banker? When the topic of discussion goes from business to personal, the person across the phone line is now more accountable for his/her actions and can truly take a fiduciary standing. They know what you are trying to accomplish and can set your needs ahead of theirs.

The morale here; don’t rush big decisions, talk with an actual human about it, get to know them and the way they conduct business before handing them the keys to your financial life. Cash in those extra minutes you saved throughout the day utilizing automated technology to spend an hour talking with an actual live person about one of THE biggest financial decision of your life.