All Forum Posts by: Jeffrey Garner

I made two offers today! Yes, that's how my day went :)

The Baby Boomer generation; as their retirement comes closer and closer, many fear that the real estate market might hit a bit of a snag. While Florida and Las Vegas will hit it big, what will happen to the states much further north? Some articles offer insight to some situations that the Baby Boomer generation will bring.

First, an article from realestate.about.com describes the Boomers in terms of a real estate marketing niche. They say that this generation may want to down-size their current home now that they don’t have employment or family obligations. “This group also has probably bought and sold several homes in their past lives. They’re not newbies, and they probably will not need the same level of support in the transaction that you’ll find with younger buyers.”

An article from nytimes.com offers reassurance for college towns. “They (Baby Boomers) are especially attracted to college towns that offer opportunities for culture as well as work, which many expect to continue…” The article also mentions that financial uncertainty among the Boomers will leave them working part time during retirement, so towns with various economies will soon start to thrive.

Finally, an article from bhgrealestate.com offer some hard numbers to describe what the Boomers are thinking. “According to the survey, about 1/3 of Baby Boomers plan to move to a new home during retirement; 42% of today’s 50-year-olds are planning to move.”

Working with the Baby Boomer generation who are looking to buy or sell will not be difficult at all. Their current homes are great for growing families, while their future homes will be easily bought. This market will be one to watch.

According to the College Board, the average price tag for a student attending a public institution is around 20k per year, while those attending a private university averaged a little over 40k. With yearly tuition increases and college housing costs going up, parents and students alike are always looking for new ways to bring in money to help pay for college. Many are doing this by buying rental properties. Of course people have been purchasing properties for years, but by investing in real estate, you are literally investing in your child’s education!

The National Center for Educational Statistics suggest that there are over 20 million students enrolled in college per year. So with that being said, aside from your main one (or two) – surely you can find a few more million reasons to invest. And since current interest rates are reasonably low, now is a great time to get into the market whether you have an incoming freshman or you’re a grad student. But we’re not talking about just buying and flipping for a profit, we are talking about purchasing a simple property that can house your student and a few others while they attend college. Thus lowering student and parent loan debt, and generating a nice monthly income after graduation.

Now don’t get me wrong, I’m not telling you to go jump into buying houses in hopes of making a profit. Naturally there are concerns associated with any investment, so be sure to consult with an industry professional first. Also, look at properties that are low risk. Your first investment property should be as hassle free as possible, so try to stay away from extreme fixer uppers, or “prize properties” such as high-rise condos.

Let’s face it. Going to college or sending a child to one is expensive-period. The important thing is being able to offset those costs effectively, and if your current situation allows then real estate investment is a great way to do so. For additional information on how you can purchase a great investment property in Missouri, give the professionals at Starting Point Real Estate a call.

Jeffrey S. Garner

There’s no secret here- the better your credit score, the lower your mortgage rate and the easier it is to piggybankfinance your dream home. We’ve started researching tips for our readers on how they can start to manage their finances to get on the fast track to the “SOLD” sign of their dreams.
When asking some of our in-house techies about their favorite ways to manage their finances the overwhelming answer was www.mint.com. Fast, free and most of all, safe this site lets your track to-the-dime expenditures letting you really see where your hard earned dollars are being spent. Mint allows you to develop your financial goals and then enables you to stick to them, while seeing areas you may be falling short or needing to “tighten the purse strings.”
Of course, our focus is real estate, so if your dream is to purchase a home, purchase rental properties or a vacation destination, mint shows you a direct path on getting their all while remaining within your budget. What we love about this: Mint is easily tailored to suit your needs and is virtually accessible anywhere your phone or other wireless device is. Thinking about eating out with the coworkers today? Check Mint to see how much you’ve spent on dining out this month and the implications those burritos might have on your bank account.
There are countless apps for managing your money, some like Money Desktop offer free investment advice; some are geared towards small business owners while others are FDIC insured "piggy banks" that also track your spending habits. Just remember that the key to your dream home lies in financial responsibility and with all of the readily available "finger wagging" apps there is no excuse not to remember to pay yourself first!