The South NJ RE Info Blog

21 Oak Forest Dr.
Sicklerville, NJ 08081

To see this house or ask questions, please use my [Contact Form] (I use it to prevent spam).

508 Highland Ave.
Lindenwold, NJ 08021

To see this house or ask questions, please use my [Contact Form] (I use it to prevent spam).

There are quite a few people today that are intrigued with the idea of owning investment real estate. It sounds like an extremely simple way to make money - Owning property, renting it out to tenants, and then collecting monthly rent payments. The truth is, it can be an extremely profitable venture, or it can be a train wreck.

Individuals who are looking to purchase rental property for the purpose of producing income have a long road ahead of them, and they should be involved every step of the way to ensure that their investment turns out positively for them in the end.

To start, you need to figure out if you're ready to own investment property; ask yourself how much money you have to pay up front. Buying your own home can require costly down payments, but investment properties generally require that plus much more. You may very well have to come up with not only the down payment on the property, but also the cash needed to bring the place up to code and rental standards; this will depend on the municipality that the property is located in. There are different standards for a rental property than for a private home. Unless the place you purchase has been a rental before, expect to be shelling out quite a bit of cash upfront. Keep in mind, there are loans available for those buying rental properties. But rates and terms for investment real estate loans are harsher than those for private homes, since lenders believe there is not as much emotional investment for the borrower, and so their loan is more at risk. Explore your options and check into a few different lenders, trying to get the best loan rates you can. It may not be easy, but if you are not planning to back down from the task, you will not be wasting your time. In order to help in keeping you costs down, you may want to limit your potential properties to those that are currently rentals and have tenants in them.  This is where an good, professional real estate agent is invaluable.

But if you purchase one that has not been a rental, you may need to make modifications.  Once you have gotten your property renovated and you're ready to go, you'll face the issue of finding good tenants through the screening process. You can certainly hire a property manager to help you out here, as well as to deal with repairs that come up later,or a professional real estate agent to help with the screenings but most small landlords are much better off doing this process themselves. Screen tenants carefully and don't let emotional involvement get in the way. Set some standards regarding credit reports and income, and stick to them regardless of who walks in your door.

Don't expect to make a profit at first. Your return on investment (ROI) is going to be small, even if you have done the math and figured out your rent cost as carefully as possible. Also, you should mentally prepare yourself for unexpected repairs which are going to bring down your profit margin and require some work on your part. The first three years of a rental property are, typically, the shakiest. If you're committed to being a landlord, if you're planning to stick with it, and you're not afraid to roll up your sleeves, you can reasonably expect a decent profit at some point in the near future.

Investing in real estate property is something that many do in order to make profits. Some make an entire career out of it and others do it on the side to supplement their primary income. Other investors do so with the idea that they will keep ownership of the property and lease or rent it out for commercial purposes. Whatever the investment may do, there are certain checkpoints that an investor will want to accomplish before signing on the dotted line when obtaining a property.

1. Know your property

Visit the property you're interested in at several different times of day or evening. The reason for that is that some things will look different in different lights. If there's a shadow on the wall during the day and you come back as the sun's going down or it already had and the shadow is still there, that might be a sign of a water problem behind the walls. If you only take a cursory glance at the property, you may end up missing things that will cost you down the line. Once is not enough. You should go through the property three or four different times and don't forget to look at the exterior as well as the interior.

2. Bring an expert on a walk through

If you know someone involved in construction or another trade, there's a good chance that they may know some things that you don't when looking at the building. For example, you may think that a discolouration on the siding is due to sun damage over time. A trained expert may look at that same discolouration and tell you that it's not sun damage, but instead there's mold growing behind the siding. That's a complete dramatisation of course, plenty of siding will fade because of sun, but it's also something that could be hiding something else. An expert will be able to tell the difference. They will be able to see curling shingles and know the roof will need replacing shortly and give you a general idea of when. They will know that the basement looks brand new not because it was recently remodelled but because there was recent water damage and the owners had to make it look nice. They will also know how to double check and see if the owners fixed the problem correctly or just made it look good.

3. Know the potential use for the property

In knowing what the property will be used for, you will know exactly what will be needed in the property. It costs money to add things or take them away. Better to have a property that is perfect for the type of business that will use the space than have to spend money on adding bits later.

4. Know the background of the property

Don't forget to stop by your local county building and research if there are any liens or back taxes owed on the property. The information is public which means that you are able to look it up with no restrictions. It's free to do and usually easier to access than you may think. In some cases you can look up the information on the internet, but that will vary with each county.

Taking into account these points before deciding on the investment will save you both time and money. You will go into the investment armed with all of the knowledge that you will need to negotiate wisely and know that your property will yield you profitable results.

Finally, you should make sure that you use a professional real estate agent to help you find those commercial investmestment properties before everyone else gets to see them, also.

• Properties Currently Being Marketed - 42
  • Average asking price - $268,592
  • Average Days on the Market - 85 days
• Properties that are Pending Sales (Under Contract, Not Settled) - 0
• Properties that Settled in January - 18
  • Average sold price - $212,950 (90.7% of average asking price)
  • Average Days on the Market - 97 days
• Properties that Expired (Not Sold and Listing Agreement ended) in January - 20
  • Average asking price - $278,589
• Properties that were Withdrawn from the Market by the Seller in January - 9
  • Average asking price - $359,278

• If you have an immediate need to sell your home, call 1-800-374-8571 x3051.
• If you are planning to sell you home in the near future, call 1-800-374-8571 x3052.

• Properties Currently Being Marketed - 112
  • Average asking price - $265,835
  • Average Days on the Market - 84 days
• Properties that are Pending Sales (Under Contract, Not Settled) - 2
• Properties that Settled in January - 2
  • Average sold price - $209,631 (90.4% of average asking price)
  • Average Days on the Market - 81 days
• Properties that Expired (Not Sold and Listing Agreement ended) in January - 28
  • Average asking price - $260,893
• Properties that were Withdrawn from the Market by the Seller in January - 20
  • Average asking price - $248,685

• If you have an immediate need to sell your home, call 1-800-374-8571 x3051.
• If you are planning to sell you home in the near future, call 1-800-374-8571 x3052.

The I-Team Homes has been marketing quite extensively in Gloucester Township NJ including the areas of Blackwood, Erial, and Laurel Springs. We provide housing market analysis for our clients. The following is the most current data we have for Gloucester Township:

For the month of January 2008 -

• Properties Currently Being Marketed - 108
  • Average asking price - $237,672
  • Average Days on the Market - 83 days
• Properties that are Pending Sales (Under Contract, Not Settled) - 3
• Properties that Settled in January - 47
  • Average sold price - $198,948 (91.6% of average asking price)
  • Average Days on the Market - 110 days
• Properties that Expired (Not Sold and Listing Agreement ended) in January - 33
  • Average asking price - $219,421
• Properties that were Withdrawn from the Market by the Seller in January - 28
  • Average asking price - $254,700

We can provide you with a complete and accurate market analysis for your home with an analysis of the market area it is located in. By knowing the value of your home you have a basis to start selling your home. If you want to know the value of your home and to receive a no-cost home evaluation, please call our Real Estate Hotline toll-free at 1-800-374-8571 x3025.

If you are planning to sell your home and would like to receive a free 12 page report, "Insider's Secret To Selling Your Home", directly to your home. "Insider's Secret To Selling Your Home" is a must have report for anyone planning on selling their home. Don't wait, call now.

• If you have an immediate need to sell your home, call 1-800-374-8571 x3051.
• If you are planning to sell you home in the near future, call 1-800-374-8571 x3052.

For first time home buyers, purchasing your first home can be a very stressful experience. We can help eliminate that stress and help you through the process. We work closely with many first time home buyers and understand your concerns. First Time Home Buyer Programs, 0% and No Money Down Programs, Conventional, FHA, and VA Financing (To Qualified Buyers). Seller Assist with Closing Costs, New Homes Existing Homes in Great Neighborhoods, Fixer Upper Properties. We search all of Camden, Burlington, Gloucester, Salem, Cumberland, and Atlantic Counties. Go to http://www.homes4firsttimebuyers.com/

Looking for a fixer upper property? Willing to put in some "sweat equity" to buy your next home at a bargain price. Get a complete listing of fixer uppers in your area by going to http://www.bestfixerhomes.com/

If you would like a free list of Fannie Mae homes currently for sale , go to: http://www.terryi.com/FNMA/.

The I-Team Homes has been marketing quite extensively in Berlin Boro NJ. We provide housing market analysis for our clients. The following is the most current data we have for Berlin Boro:

For the month of January 2008 -

•· Properties Actively Listed - 12

•· Average asking price - $309,292
•· Average Days on the Market - 85 days

•· Pending Sales (Under Contract, Not Settled) - 1

•· Properties that Settled in January - 4

•· Average sold price - $272,500 (93.4% of average asking price)
•· Average Days on the Market - 43 days
•· Number that sold with Seller Concessions - 1 (where seller gave some amount of net proceeds back to buyer toward buyer's closing/settlement costs)
•· Number that sold without Seller Concessions - 3

•· Properties that Expired (Not Sold and Listing Agreement ended) in January - 1

•· Average asking price - $315,000
•· Average Days on the Market - 275 days

•· Properties that were Withdrawn from the Market by the Seller in January - 3

•· Average asking price - $205,133
•· Average Days on the Market - 222 days

We can provide you with a complete and accurate market analysis for your home with an analysis of the market area it is located in. By knowing the value of your home you have a basis to start selling your home. If you want to know the value of your home and to receive a no-cost home evaluation, please call our Real Estate Hotline toll-free at 1-800-374-8571 x3025.

If you are planning to sell your home and would like to receive a free 12 page report, "Insider's Secret To Selling Your Home", directly to your home. "Insider's Secret To Selling Your Home" is a must have report for anyone planning on selling their home. Don't wait, call now.

•· If you have an immediate need to sell your home, call 1-800-374-8571 x3051.

•· If you are planning to sell you home in the near future, call 1-800-374-8571 x3052.

When you call the above numbers you will will hear recorded instructions; you will not be directed to a live agent.

For first time home buyers, purchasing your first home can be a very stressful experience. We can help eliminate that stress and help you through the process. We work closely with many first time home buyers and understand your concerns. First Time Home Buyer Programs, 0% and No Money Down Programs, Conventional, FHA, and VA Financing (To Qualified Buyers). Seller Assist with Closing Costs, New Homes Existing Homes in Great Neighborhoods, Fixer Upper Properties. We search all of Camden, Burlington, Gloucester, Salem, Cumberland, and Atlantic Counties. Go to http://www.homes4firsttimebuyers.com/

Looking for a fixer upper property? Willing to put in some "sweat equity" to buy your next home at a bargain price. Get a complete listing of fixer uppers in your area by going to http://www.bestfixerhomes.com/

If you would like a free list of Fannie Mae homes currently for sale , go to: http://www.terryi.com/FNMA/.

The I-Team Homes has been marketing quite extensively in Berlin Township NJ. We provide housing market analysis for our clients. The following is the most current data we have for Berlin Township:

For the month of January 2008 -

•· Properties Actively Listed - 4

•· Average asking price - $220,675
•· Average Days on the Market - 88 days

•· Pending Sales (Under Contract, Not Settled) - 0

•· Properties that Settled in January - 8

•· Average sold price - $187,788 (95.3% of average asking price)
•· Average Days on the Market - 41 days
•· Number that sold with Seller Concessions - 4 (where seller gave some amount of net proceeds back to buyer toward buyer's closing/settlement costs)
•· Number that sold without Seller Concessions - 4

•· Properties that Expired (Not Sold and Listing Agreement ended) in January - 2

•· Average asking price - $229,900
•· Average Days on the Market - 154 days

•· Properties that were Withdrawn from the Market by the Seller in January - 0

•· Average asking price - $0
•· Average Days on the Market - 0 days

We can provide you with a complete and accurate market analysis for your home with an analysis of the market area it is located in. By knowing the value of your home you have a basis to start selling your home. If you want to know the value of your home and to receive a no-cost home evaluation, please call our Real Estate Hotline toll-free at 1-800-374-8571 x3025.

If you are planning to sell your home and would like to receive a free 12 page report, "Insider's Secret To Selling Your Home", directly to your home. "Insider's Secret To Selling Your Home" is a must have report for anyone planning on selling their home. Don't wait, call now.

•· If you have an immediate need to sell your home, call 1-800-374-8571 x3051.

•· If you are planning to sell you home in the near future, call 1-800-374-8571 x3052.

When you call the above numbers you will will hear recorded instructions; you will not be directed to a live agent.

For first time home buyers, purchasing your first home can be a very stressful experience. We can help eliminate that stress and help you through the process. We work closely with many first time home buyers and understand your concerns. First Time Home Buyer Programs, 0% and No Money Down Programs, Conventional, FHA, and VA Financing (To Qualified Buyers). Seller Assist with Closing Costs, New Homes Existing Homes in Great Neighborhoods, Fixer Upper Properties. We search all of Camden, Burlington, Gloucester, Salem, Cumberland, and Atlantic Counties. Go to http://www.homes4firsttimebuyers.com/

Looking for a fixer upper property? Willing to put in some "sweat equity" to buy your next home at a bargain price. Get a complete listing of fixer uppers in your area by going to http://www.bestfixerhomes.com/

If you would like a free list of Fannie Mae homes currently for sale , go to: http://www.terryi.com/FNMA/.

In this day and age you may well be asking yourself >>What are the advantages of Buying Real Estate?<< There are certainly many advantages of buying a home - both financial, tax wise and most importantly to provide a home and not a temporary dwelling for your family. To a great degree you are in essence "Where you live".

It is true that you may read in the popular media that a major devaluation in the house market in underway. Look to the long term. Things may go up and down. There may be corrections. However in the long term "They are only making so much land" and "Everyone has to live somewhere". Consequently over the long term real estate and property prices have always been increasing and have always been a good investment.  The current problem was caused by speculators who wanted the increased value...NOW.

It can always be debated as to whether the mortgage payments that you make to the bank or mortgage company are "forced savings" and that you are really not ahead in a financial sense. Whether this is true or not at the end of the day, if you own the property, you will have a substantial asset of worth, whereas if you are a renter, when you close the door, or they carry you out, you will leave with and have accumulated nothing in a financial or financial asset sense.

In addition to the accumulation of financial assets over time when owning property there are additional financial tax advantages to owning property rather than renting. First mortgage interest and real estate property taxes are tax deductible. A penny saved is always a penny earned. Anyone who is paying a mortgage can enjoy these tax benefits for the interest paid on their mortgage as well as property taxes paid. What is important to understand is that in the first few years of your mortgage, most of the money you pay on themortgage goes towards payment of interest. Not the amount that you owe on the loan (the principal). The financial institution that gave you the mortgage wants to get their piece first. This is not a bad thing for you. Indeed it is in your favor. Your biggest interest charges and hence biggest tax deductions will be in those early years of your mortgage payments. If you understand the rules, as well as follow these rules to the letter - then the mortgage and mortgage tax deduction rules are in YOUR favor. You cannot stop the sea and you cannot stop the process of the power of compound interest. In essence someone else will be helping you along the property asset accumulation road as you buy your first home - whether it is starter home, country property or condo and move along the road of home ownership. As you continue to upgrade your home and properties over the years you can be reassured that as long as present rules stay in force - these tax deductions will act greatly in your favor towards your real estate assets and personal worth.