Saturday, April 4, 2020 / by Steven DiPeso
As the Jersey Shore's leading, if not only, short term rental property management firm we have been fielding a great deal of client calls regarding the impact COVID-19 on their 2020 season cash flow. Below are five basic tips to navigate the current economic freeze for past clients managing their own short term rentals.
1. Don’t panic sell.2. Adjust your listing parameters to make your property more attractive to potential social distance guests.3. Turn off your beloved automations and humanize yourself with your guests.4. Rent long term to an arbitrager, or consider engaging Jersey Shore Homes to manage your property.5. Refinance to buy yourself some time and skip a mortgage payment, and maybe pull out a little bit of an emergency fund from the equity.
And there you have it! 5 quick tips for navigating short term rentals during COVID-19. If you need help calculating income and expenses during this time, call us. Jersey Shore Homes has always been uniquely po ...
Saturday, February 8, 2020 / by Steven DiPeso
Do you want to expand your investment portfolio, but are not quite sure where to begin? Think multi-family real estate. Here are five key reasons why you should look into this property type.
Strong FCF From Annual & Seasonal Rentals
It’s no secret that Jersey Shore real estate ranks among the most expensive in the State. And with property prices continually on the rise, it makes renting more feasible for other people who want to live or vacation in South Jersey to rent instead of buying a home.
In fact, even a significant chunk of South Jersey high-income residents prefer to rent. And with the demand rising for rental properties, there has also been a surge of new and upscale developments in Shore cities. We have experienced a surge of recent buyers engaging us to manage their nightly & weekly rentals both traditionally and with managed short term 3rd party platforms.
There are plenty of opportunities to invest in multi-family real estate ...
Thursday, February 6, 2020 / by Steven DiPeso
Most homebuyers start the process anxious, excited, nervous, and some are downright terrified. It’s natural. A home is the largest and most expensive purchase that most people will make in a lifetime. It can either turn out to be a complete financial disaster or a smart long-term investment.
The person standing between it being a huge financial mistake or a valuable asset is you, the agent. Still, the agent can only help as much as the buyer allows. As vital as having an experienced agent by their side is, there are things that first-time homebuyers have to do.
Here is a list of tips to help first-time homebuyers help you the agent do the best job that you can do. When you are approached by a first-time homebuyer, share this list with them to help them get off on the right foot.
Tell Your Agent Everything: You don’t want any surprises; neither does your agent. Let them know upfront about any financial issues on your credit report. Be as detailed as ...
Wednesday, December 11, 2019 / by Steven DiPeso
There are many reasons why it may be time to sell your home. You may need more space to make room for a growing family or you need to downsize after your kids leave the nest. Whatever your motivations, you want to make sure that you’re timing it right.
If you sell when home prices are plummeting, you may end up losing on the deal. If you sell when home prices are highest, there may not be a lot of buyers looking to move. So how do you know when it’s a good time to sell?
A qualified agent can help you determine if the market puts you in a good place or not. But for your own personal situation, here are the signs telling you that now is the time to sell your home.
You’ve Outgrown Your Home
Whether you are expecting another child, caring for an aging parent, or have taken in your adult children, when you’ve outgrown your home, it may be time to sell your home. Consider the permanency of the change. Will the kids be there for a long time? How lon ...
Tuesday, September 17, 2019 / by Steven DiPeso
You've spent weeks and months with our team filtering thru properties on the market. After touring and inspecting those properties on your short list you've found "the one" that you would like to purchase. It's now time to draft the offer- but where is the beginning point on your first move? Well, like my go to answer in Econ 101- that depends.
The absolute first step to commencing negotiations (such as putting forth an offer) is to gather the facts. Is the home you intent to make an offer priced at market or is it above or below market; and if so, to what extent. Where are current inventory levels compared to prior periods? Has the property been on the market near the average days for sale as other similar properties or is below or above the average? Is anything excluded from the sale, or do we believe material repairs are required?
Similarly, what are the facts of our buying clients.... Do you need to include a conting ...