Stephenville is now offering a rare opportunity with the availability of full duplex properties. Located at 117 Willow Ln, you’ll find a meticulously maintained 2-bedroom, 1-bathroom unit, while next door at 119 Willow Ln, there’s another gem with 3 bedrooms and 2 bathrooms. Both of these properties are currently occupied by month-to-month renters, making them an attractive investment option. This duplex is a must-see for all investors, as opportunities like this don’t come along often. Don’t miss your chance to explore these promising properties – schedule your showing today and seize this exciting investment opportunity! https://www.preferredpropertiestx.com/listings/just-listed-great-investment-opportunity-in-stephenville-texas/
Some people believe that real estate is the best way to build long-term wealth. It’s possible that this is true, but it doesn’t mean you should buy a bunch rental properties and wait for the rent to come in. If you’re curious, let’s take a look at some things you might not have considered.
First, you should know that a rental property will require a higher down payment than if it were your primary residence or a beach house. You can expect to pay at least 20% down for most programs, and slightly higher rates, when you buy an investment property.
Why are these loans slightly more expensive? Lenders have calculated the risk associated with renting and determined that if your financial path suddenly hits a few speedbump, the rental property will be the first to be sold compared to your home.
If you don’t own a house, it may be difficult to find financing for a rental. First-time homebuyers are not a good match for rental properties. You should buy a primary home first and then let the lenders know your track record for on-time payments over a period of two years before you consider investing.
It is also important to consider whether you can use your new rental income as a way to pay off or even cover the entire cost of your new mortgage, insurance and taxes. Although many real estate investors say this is a very important consideration, you shouldn’t expect the lender to use the new rental income in order to qualify you for a new home loan. The two-year rule applies again. Lenders will want to know that you can manage not only the new mortgage, but also the tenants and maintenance concerns. You’ll have to show that you can do this.
Once you’ve established a track record, lenders will use your rental income to offset any new payments. This is where the wealth begins to build. You can buy and finance your second, third, or fourth rental using the new rental income.
Finally, over time, real estate values do in fact appreciate. There will be bumps along the way, but over the long term real estate values add to your wealth profile. Real estate can help people build wealth over time. You just need to be aware of what to expect.
You’re not the only one who has ever dreamed about owning a vineyard. Before you purchase a piece for your vineyard there are a few things that you should consider. Land for vineyards is a complex purchase. From finding the right location to understanding the legalities, it can be a difficult process. We’ll walk you through the legalities of buying land so you can make well-informed decisions.
The Different Types of Vineyards
It’s important to know the differences between vineyards if you’re considering purchasing land to build a vineyard. Not all vineyards have the same benefits and challenges.
Here are some of the most common types of vineyards.
1. Estate Vineyards
A vineyard that is owned by and operated exclusively by a winery, or wine producer, is called an estate vineyard. The winery is in complete control of the grape growing process from planting to harvest. Estate vineyards often produce higher-quality wine, as the winery is able to use only the best grapes.
2. Contract Vineyards
A contract vineyard is one that is owned by a person or group but grapes are sold on a contractual basis to wineries. Contract vineyards are a good choice for those who wish to enter the wine industry, but do not have the funds for land or winemaking equipment. The downside is that contract vineyards may have less control over their end product and be at the whims or the wineries with whom they work.
3. Hobby Vineyards
Hobby vineyards are usually small-scale operations that are run by individuals and families who are passionate wine lovers. These vineyards may not be profitable, but their owners enjoy the grape-growing and wine-making process as a hobby. Hobby vineyards can be a great option for those who are interested in the wine industry, but don’t want to commit to a full-time job.
4. Co-Op Vineyards
A co-op is a group that pools their resources in order to run a larger vineyard. Co-op vineyards are an excellent option for those who wish to enjoy the benefits of ownership, but without the high costs involved in owning and running a vineyard. Co-ops are a great way to access higher-quality resources and equipment that individual owners may not have.
It’s important to consider the pros and cons of each type of vineyard when deciding which one to purchase. The type of vineyard you choose will ultimately depend on your goals and budget as well as your level of expertise.
How to Choose a Vineyard
There are several factors to consider when choosing a vineyard. Here are a few tips to help make the right decision:
1. Location, location, location
The location of your vineyard is critical to the success of your business. Consider the climate, the soil quality and the terrain of the area you are interested in buying land. It is important to have the right conditions for growing grapes that will produce fine wine.
2. Consider the size of your property
When it comes down to vineyards, larger is not always better. You should consider the size of your property and whether it will be manageable for both you and your team. A smaller, well-maintained property is often preferable to a larger one that is poorly maintained.
3. Investigate the history of a property
It is important to research the history before purchasing a vineyard. Find out what crops have been grown in the past, and if there were any soil issues or other factors which could affect grape growth. You can also research the vineyard’s reputation and its wines in order to get a sense of its potential.
4. Check the water supply
Water is vital for grape growing, so you should make sure that the vineyard is well-equipped with a reliable supply. Check the quantity and quality of water on the property, as well as the irrigation system.
5. Cost-benefit analysis
The cost of a winery can vary widely depending on factors such as location, size and other factors. Before making a decision, consider your budget and the potential return on investment.
These factors will help you choose a vineyard which is suitable for your business and will set you up to succeed in the world winemaking.
Excellent opportunity to purchase a well-established gym in Stephenville Texas. Today is the day to take advantage of this great investment!
Preferred Properties of Texas of Texas is here to help you find the right property to fit your needs. Gives us a call today!
The purchase of a fixer upper is becoming a more common choice, as sales of this type of home have risen 13,4% from 2020 to 2021. Despite what you may see on HGTV or social media, buying a fixer upper and bringing it to a livable condition is not an easy task.
The risk involved in buying real estate is something that all buyers must consider. How much risk you are willing to take depends on your personal preferences, lifestyle and short- and longer-term financial goals. There’s more to consider than the price of a fixer upper when you decide to invest in it.
This article will give you a quick overview of the pros and cons to choosing a fixer upper. Keep these in mind as you decide whether or not to make an investment.
The Pros of Fixer-Uppers
With enough money, imagination and work, you can make any property your dream home. Fixer-uppers offer a lot of potential to those looking for long-term gain.
The following are some of the most important pros to buying a fixer upper property:
- Lower prices– If you search in the right places, the price of a fixer upper could be much lower than a home that is ready to move into. This could result in you getting more space for your money, and a lower deposit.
- Less Competition – Fixer-uppers aren’t for everyone so there won’t be as much competition in your search. As an added bonus, the seller may be more willing to negotiate on price because their pool of buyers is smaller.
- More possibilities– A fixer-upper offers an incredible amount of customization. When you are down to the studs you have a lot of options.
The Cons of Fixer-Uppers
It’s important to weigh the above advantages against some harsh realities of investing in a fixer upper. There’s a good reason why so many buyers are willing to pay more for a turnkey house.
Cons to be aware of include:
- Renovation costs are higher up front– You may pay more in renovation costs for the money you saved on purchase price or down payment. A mid-level kitchen renovation alone cost between $15,000 AND $29,000, and that’s only one room out of many.
- Unanticipated Issues– A home purchase can be a surprise. This is particularly true for fixer-uppers. Costly problems could be lurking behind each wall and floorboard.
- Expect a longer timeline– Your fixer-upper may take months or years to become a suitable and safe place to live. Be realistic with your timeline and, if you are in a rush to move, get a thorough inspection as soon as you can to find any problems that may hinder you. It takes a lot to buy a fixer upper, whether it’s with or without land. Working with an experienced agent and financial advisor to decide if this is a good investment, and consider the pros and the cons before you sign on the dotted lines. Are you thinking of Buying? Our agents at Preferred Properties of Texas are here to help!
It is common to hear the term “starter home” quite often. But, as a buyer, you might wonder what that actually means.
You need to understand the basics of buying a home, as well as whether you should invest in your forever home.
You can choose to buy a starter home as a single-family or multi-family home, or even a condo. The average buyer will be able to afford a starter home, but they are likely to outgrow it. The cost of a starter home will be lower relative to the local market.
These homes can be small or large, and may also be older. These homes can also be brand new, but they are still designed to satisfy the needs of entry-level buyers.
While there aren’t all the features that you might want, you can see how a starter home would suit your needs in the short-term.
It is possible that you will stay in your starter house for life. On the other hand you might decide to move on to a better home or a more expensive one.
A forever home can be larger than a regular home, but it may also have more outside space or be updated. Some of the most desirable features in a forever home are those that make it attractive and competitive. For example, it might have a large, private yard or be located in a great school area.
However, the definition of a forever home can be subjective. Some people may find that the home is where they can imagine raising a family. Others might prefer a fixer-upper in a great location that is in need of some TLC, but is still a permanent home.
While a forever home does not have to be extravagant, it is more spacious than a starter house.
There are pros and cons to both a starter or forever home if you are at the point of deciding whether it is worth your time.
A starter home is typically less expensive so that you can save more money for your down payment. This will allow you to start building equity faster. You’ll spend more time renting than you do investing in equity if you wait until you can afford a forever house. Once you are ready to purchase your forever home, the equity that you have will be able to use it as a financing source.
A starter home has the downside that it will likely be outgrown as you move on to a new phase of your life. A starter home may not be sufficient for your needs if you get married or have children.
You can either rent or sell your starter home if you decide to move. You will need to find a new home, apply for a mortgage and pay the closing costs.
There are many benefits to moving from the starter home to your forever home. You can feel secure knowing that you will be able to live in your home for the long-term without worrying about moving or selling.
It is possible to take your time and adjust slowly.
It is important to only spend what you can afford when buying a house. It is a good rule of thumb to not spend more than 28% on housing costs. Not only should you not pay 36% for debt, but also other loans and credit card debt.
It can be a wise move to buy a home that will last forever. If you sell your home too quickly after purchasing it, you might have to pay capital gains tax if its value increases. If you file your taxes separately, you can get a $250,000 exclusion and $500,000 if you are married filing jointly to capital gains on real property. If you have owned the property for less than 2 years, this exclusion is removed.
Before you purchase a home, consider the long-term potential value. It is important to find properties that are well-respected and have a high potential for resale, regardless of their price. You have to realize that sometimes what seems forever now may not be forever.