Colleen Kulikowski

Is this a good investment property?
Is this a good investment property? I hear that many times. Think about it. How many times have you seen a run down vacant property in Western New York and thought that would be a good investment? But if you never have invested before how does one know?
Let's talk about that Good Investment. How much profit you should allow whether you are buying a fixer upper or buying an investment property that is already rented or ready to rent or sell in Western New York. There are many factors that go into deciding if a property is a good investment or not. Don't forget the most important thing to remember LOCATION! LOCATION! LOCATION!
No matter how you calculate it, there is something you need to remember. They all have one thing in common. It is an old computer term called GIGO or garbage in - garbage out. Why is this important to you? Well it will do you no good if you are analyzing the wrong numbers in your Western New York Investment property.

If you are looking at a fixer upper then you don’t want to have any more than 70% of after repaired value invested.  After you purchase and repair you will have 30% equity which gives you options like:

• Sell it
• Refinance it and pull out some cash
• Rent it and hold it
• Lease option the property to someone

So what goes into that calculation?  Well if you only calculate the purchase price plus the repairs and subtract the new sale price in a flip you are not calculating the true profit on the property.  Do you know what numbers you need to put into that calculation?  Things like:

• Closing Costs for the purchase
• Carrying cost of any mortgage
• Taxes and Insurance
• Realtor Fees for the sale and the associated closing costs
• Your time and effort

What if you don’t have to fix up the property and you are going to rent it right away?   What makes a particular home a good or bad investment?  Want more information regarding Investing in Western New York, feel free to give me a call at (716) 743-5297.

WNY Real Estate Terminology - FHA WNY Real Estate Terminology - FHA Let's talk about FHA - Federal Housing Administration a little bit today. An agency of the U.S. Department of Housing and Urban Development (HUD). Its main activity is the insuring ...

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RealtyUSA announces Job Loss Protection Plan RealtyUSA announced today that as the Market Leader we are the first real estate company in Upstate New York to offer Job Loss Protection to help buyers and sellers make real estate decisions with ...

Answering Questions that Buffalonians may have about the American Recovery and Reinvestment Act of 2009 There are lots of questions regarding the American Recovery and Reinvestment Act of 2009. There are lots of questions how this Act will affect Buffalo ...

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Commercial Real Estate
Will Yahoo open a Data Center in WNY? Sunnyvale California Internet company Yahoo Inc. is looking to establish a data center in Western New York. Governor Paterson's office confirms that they are talking with Yahoo executives and trying to convince them to do ...

Commercial Real Estate Investment - What not to do! When you have a losing deal don't blame anyone but yourself. Ways to make money in Western New York commercial real estate: cash flow, appreciation, equity growth, and tax benefits. If you are not making money, ...

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Featured Homes For Sale

Buffalo Area Open Houses Find the latest available list of homes that will be open over the weekend on my home search page. 6312 Everwood Court South Clarence, 14051 NY $ 414,900 Built in 1991 3304 ...

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