Tuesday, December 3, 2019

Next Question - How Much Can You Afford?



Real Estate Matters with Tim Bro

Next Question – How Much Can You Afford?

You've started your home buying search and are dreaming big – so now you need to take the next steps to make sure you can realize that goal. Now is the time to do your research and find the financing options for a home that will work best for you.

Even if you're in the “just thinking about it” stage, it's a good idea to speak with a few lenders about receiving pre-qualification for a mortgage. When you choose to become pre–qualified, you will provide some basic information about financial situation to a lender over the phone or online.

When you are ready to start looking at homes with me in person, you will want to become pre–approved for a loan and have the lender assess your credit worthiness.

To get started with your home purchase, call Tim Brodowski at 858-354-2354, “The Right Choice in Real Estate.”











DRE# 01224576

Wednesday, October 23, 2019

Home Care Tips - October



Real Estate Matters with Tim Bro

Home Care Tips – October

You can keep your home in top shape with simple tasks throughout the year.  This month, be sure to:

1.    Replace or clean your furnace filter.
2.    Clean filters for kitchen exhaust fans.
3.    Check your driveway for cracks.  Fill cracks and reseal as needed.
4.    Reverse your ceiling fans to help blow warm air down from the ceiling throughout the room.
5.    Drain approximately 2 gallons from water heater to eliminate sediment.
6.    Pass a lit candle around doors and windows to check for drafts.  Weather strip as necessary.
7.    Cover your air conditioning unit to prevent leaves and debris from entering.

To get started with your home sale or purchase, call Tim Brodowski at 858-354-2354, “The Right Choice in Real Estate”.   









DRE# 01224576

Tuesday, October 22, 2019

Welcome Autumn



Welcome Autumn

Falling for Fall

Here’s to cooler days, longer nights, and time spent by the fire.  Wishing you an autumn that’s as bright and beautiful as the season.

For exceptional real estate service, call Tim Brodowski at 858-354-2354, “The Right Choice in Real Estate”.   











DRE# 01224576

Thursday, October 10, 2019

Ready to Sell Your Home?



Real Estate Matters with Tim Bro

Ready to Sell Your Home?

You probably have two questions:

How much can I sell for?
How quickly can I sell my house?

Determining the market value of your home is complex and working with a local market expert like Tim Brodowski can help you determine the right price to get you top dollar when you’re ready to sell.  You don’t want to leave money on the table, but you don’t want to overprice your home either.

Some key factors in market value include:

·         Location
·         Lot size
·         Square footage
·         Up-grades and renovations

Are you looking to sell your home in the next year or so or are you just curious about the value of your home?  Either way – Tim would be happy to chat with you in person.  Tim Brodowski, “The Right Choice in Real Estate” – 858-354-2354.











DRE# 01224576

Tuesday, October 1, 2019

Helpful Tips for the Real Estate Investor Part 2 of 2



Real Estate Matters with Tim Bro

Helpful Tips for the Real Estate Investor Part 2 of 2

9.     Personal property – what’s included:
There are many different types of personal property (appliances, furnishings, etc) involved in an investment sale.  Make sure you know which personal property items convey with sale.

10.  Have adequate insurance:
Consult with an insurance agent to make sure you are covered!  Tenants and their guests bring liabilities!

11.  Selecting qualified tenants from the start:
Check references from previous landlords, employers, bankers, and credit agencies.  A little work up front can save a lot of your potential problems in the future.

12.  Treat your tenants as customers:
Vacancies and turnovers are your largest expense!  Charge fair rents and attend to realistic tenant needs immediately.  Yes, immediately!

13.  Not renting right:
Too low rent costs money, but it can reduce turnover and can decrease vacancies.  High rent increases cash flow and the value of the building, but can increase the vacancy factor and turnover.  Understand if there is rent control or if there is proposed rent control.  This could severely inhibit financial performance.

14.  Spending positive cash flow?
Apply your excess cash flow to the payment and speed up that amortization schedule.   And/or keep a “reserves” account for maintenance and unexpected events.

15.  Monitor & visit your property:
Do this yourself if the property is local. If located out of town and you have a property manager, have them visit, take pictures, and offer a write up. Frequently!!!

16.  Future Plans:
As you develop a strong equity position and positive cash flow in your real estate holdings, it may be time to leverage it and buy another.  Another idea would be to sell it in a 1031 Exchange and purchase a move up property.  Or … well, the option and possibilities are limitless.

17.  Exit Strategy:
When it’s time to liquidate properties, understand what options are available.

To discuss and review your current holdings and future real estate goals, call Tim Brodowski at 858-354-2354, “The Right Choice in Real Estate”.   










DRE# 01224576

Friday, September 20, 2019

Helpful Tips for the Real Estate Investor Part 1 of 2



Real Estate Matters with Tim Bro

Helpful Tips for the Real Estate Investor Part 1 of 2

1.     Know what your goals are:
Talk to your real estate consultant about cash flow, capital appreciation, tax benefits, management methods, equity pay down, and pride of ownership.

2.     Knowing/checking income and expenses:
Check everything: rent income, taxes, expenses, deposits, lease expirations, etc.  Hype is an epidemic in investment real estate.  Also, factor in reserves for maintenance and unplanned events/issues.

3.     You’re buying a business:
Owning an investment property carries with it great responsibility and potential, along with some very difficult decisions – evicting tenants, who to rent to, whether or not to make certain improvements, etc.  Remember it’s a “hands-on” investment.

4.     Being emotional:
An emotional purchase is not your best investment strategy.  Pay attention to the numbers, not necessarily your heart.

5.     Negative vs positive cash flow:
Understand the cash flow position of each investment property. Are you looking to have a positive cash flow … understand what that entails.  Is a negative cash flow ok … if so, how much is allowable in your budget.  Reminder, factor the up side … depreciation, tax write offs, and appreciation.  Understand your numbers and goals.
 
6.     Ideal loan for your investment:
Here is a stress inducer – long-term investment goals financed with short-term instruments: a classic investment mistake.  My opinion, you should own real estate for the long term; utilizing long-term financing.

7.     Inspections:
Look at every inch!  Hire a professional inspector and ask the tenants questions about the property.  Don’t get lazy on this one!

8.     Read, approve, and confirm all documents during escrow:
Review zoning laws, rental applications and leases, by-laws, easements, title policy, inspection reports, purchase contract, insurance, rules and regulations, trust deed, mortgage, etc.

To discuss and review your current holdings and future real estate goals, call Tim Brodowski at 858-354-2354, “The Right Choice in Real Estate”.   











DRE# 01224576