Welcome back to the newest installment of Power 180's- 3 minutes of Housing Literacy that can change your life (sponsored by Powerful Homes). On today’s topic: Wait…what? Top 10 things you never really understood about purchasing a home or investment property but were afraid to ask (Part 3) This is the FINAL part of this 3-part series. Today Matt discusses the property and WHAT should you consider buying? We all have heard that the most important thing is location / location / location. But what does that mean? Are there any other things we should consider? Tune in! As always if you have any questions, please feel free to TEXT Matt directly at 303-885-1644.
Welcome to the Housing Literacy Podcast with host, Matt Guarino, founder of Powerful Homes. Matt's mission is to empower dreams through home ownership. We're here to help. We're going to do this together and now Matt Guarino.
My name is Matt Guarino and this Power 180; three minutes of housing literacy that can transform your life and empower your dreams. And today's topic is the last of a three-part series with something we like to call, wait, what? Which is 10 things that you maybe never understood about real estate investing or home ownership, and maybe were afraid to ask.
So here we know today, we're talking about just getting going, and how do you do that? So when you talk about buying a home, we've always heard that location, location, location is the key. And that is true, but are there other things that you should consider? And we believe that there are, so here are the last four of the top 10 things that make you say, wait, what?
So we talk about the best location and what we mean by that is always being around great jobs, great schools or something economic. We all know where the great jobs or schools are and we want to buy around those. But one of the things that you can do that you may never have known about is to go to your economic development group. There's one in every city or township and ask them what's going on in the market? Where are these changes happening? Is a light rail stop going in in this location or that location or amazing companies moving into town or other economic things going on. So you can understand the best location by reaching out to those types of folks.
Number two is always follow the number one rule, which is to make sure that the property you're buying has great curb appeal, has a great kitchen, and it has a great master. Always look for those three things. Ninety percent of the value, other than the location from the improvements, the actual building come from those three things and we always say that the market's the boss. So you need to get those three things right, if possible.
The third thing is to be flexible. People get hung up that this first purchase, this first investment property, or this first home has to meet all of their goals of their entire life, the arc of their whole life and they don't. This investment property or home really just needs to meet the needs in this phase of your life. So be flexible, you know, the things that you own, real estate assets that you own may ebb and flow throughout your life. You may sell some, buy some, hold some. So just be a little flexible about the timeframe and, and putting too much that it has to be the perfect thing ever.
And finally. Completing our 10 things that make us go, wait, what? Is that mentors really matter? We become the average of the five people we hang around with most. Please make sure to include someone that knows real estate. And we here at Powerful Homes. We'd love to be your coach and your guide throughout this process. And the quote that wraps up this series is "that ownership changes everything." See you next time.
Thank you for listening to another episode of the Housing Literacy Podcast. Don't forget to like comment and hit that subscribe button and stay connected with Matt Guarino by visiting www.powerfulhomes.org.