Frequently Asked Questions

You got questions, we got answers

Every time someone is selling a house, it’s a unique and personal transaction. We’ve helped more homeowners get the solution that fits their specific needs more than any other buyer. Our property specialists are standing by ready to help you with any questions you may have about your unique situation….no obligation, no cost…just give us a call. We’re happy to just talk about your situation and offer any guidance we can.

That is difficult to answer without knowing what type of real estate you are looking for, how much money you have, and other specific details about your personal situation.

For the general public, the housing market has stabilized over the past few years. If you can afford it now, it is a good chance to buy before interest rates rise again.

It depends on many factors, but the biggest difference is the cost of buying vs. renting – so let’s break it down:

  • Generally, if you plan to live in an average home for 3+ years, buying makes sense because renting costs more on a monthly basis. Take into account property taxes (typically about 1% of the purchase price annually), insurance (about 0% – 1.5% of your purchase price), repairs and maintenance (anything from yearly painting to replacing appliances), capital appreciation if you sell within 10-15 years after purchase, and mortgage interest over 30 years with 20% down; all these will likely be less than your total monthly rental payment for 3+ years.
  • If you expect to be in a home for less than 3 years, it may make more financial sense to rent instead because your total monthly rental payment will likely be similar to the cost of a typical mortgage + taxes, insurance, and maintenance costs. Your net rent (what you pay) is greater with renting over that time. And if you sell, there is no capital appreciation.

FI stands for “fully invested” and means that you have all of your money in residential property.

Nowadays there is an increasing demand for investment-grade apartments in small, walkable neighborhoods.

Deal flow refers to the number of deals that are taking place at any given time. A commercial real estate attorney will be able to help you understand what this means for you by determining the deal flow in your region.

Market value is the estimated worth of a property in the current market. It is determined by analyzing recent sales of similar properties and taking into account other factors such as location, size, and condition.

Commercial real estate attorneys use a variety of metrics to determine the market value of a property. Some of the most common include analyzing recent sales of similar properties, evaluating the location and condition of the property, and taking into account the size of the property.

Industrial properties focus on the following:

  • The location of the property (e.g., proximity to highways and public transportation)
  • The design and construction of the building, inventories, and equipment on site
  • Production rate and production capacity

Can I self-fund my first real estate deal as a newbie investor?

  • How much money do you have available? You will likely need at least 20% – 30% down to get a good deal on a property.
  • What type of property are you looking for? You may want to consider buying a property that is below market value so you don’t have to put as much money down.
  • What are the closing costs? Closing costs will typically amount to about 2% – 3% of the purchase price, so make sure you factor that into your budget.
  • Are you prepared to handle repairs and maintenance on the property? It’s possible that you will need to put money into repairs and maintenance to your property after the purchase.
  • What are the tax implications? You may be able to write off some or all of your closing costs, but be sure to consult with a CPA before making any decisions.

Also, self-funding often requires that you limit your search to properties that you can afford and don’t require a large investment.

A commercial real estate attorney will be able to help you determine how much insurance is appropriate for your property by taking into account the size, location, and current market value.