Mark Carmien - Maple and Main Realty, LLC



Posted by Mark Carmien on 4/10/2021

Photo by Jonathan Rolande via Pixabay

Dipping your toes in the real estate investing waters can feel intimidating--especially when it comes to making a large up-front investment. Although there are ways to get started in real estate with lower up-front costs (low- or no-down payment VA and FHA loans, for instance), it's smart to have some savings to cushion your first year. Here are a few ways to find the money for your first investment property--even if you're operating on a shoestring budget. 

1. Make Some Sacrifices 

Think investing should be sacrifice-free? It's a thought popular with the Instagram philosophers of today--you know, just secure the right mindset and the money will follow. Unfortunately, real life--at least, the real estate investing life--doesn't work that way, especially at first. Cut back your discretionary spending and earmark it to begin your investment portfolio. Your side hustle might be the springboard you need to save up a down payment for your first property--if you're willing to do the work. Tighten your belt until you close on your first property, and you'll reap the rewards in the long-term. 

2. House Hack Your Existing Property 

Already own your home? Consider renting out a room, or setting it up as an AirBnB. If you have a partially-finished basement or mother-in-law suite, you could even renovate to create a true ADU (additional dwelling unit). Et voila! You're off and running as a real estate investor, improving your monthly cash flow scenario in a way that allows you to save for a larger investment down the road. 

3. Know Where Your Money is Going 

If you don't already have a budget, get one. No matter what system you use, you need a system--whether it's Dave Ramsey's envelope system, an online program like YNAB or Minted, or an Excel spreadsheet of your own design. It's also smart to talk to a financial advisor and/or accountant as you set goals and adjust your budget to fit your needs. No matter how much capital you are (or aren't) working with right now, an advisor can help make sure you're taking big strides in the right direction. 

You'll find that if you're dedicated to your goals, it's incredible how quickly you can stack up enough savings for a down payment on your first property. Impatient to get started? While you're saving, learn everything you can about the market in your area. The time you spend saving and educating yourself will change your life. 




Tags: property   Investment   Capital  
Categories: Uncategorized  


Posted by Mark Carmien on 4/3/2021

Finding the right house that meets your family's needs is an important decision; it's one that can affect the quality of your life for years to come. That's why it's especially important to be in a focused, resourceful state of mind when house hunting. It's also helpful to have a clear idea of what you're looking for and have a system in mind for comparing the strengths and weaknesses of every house you visit.

Knowing What You Want

Chances are, you're going to approach your house search with some preconceived notions about features like the floorplan, bedrooms, and number of bathrooms. You may also have strong preferences for a particular school district, the size of the back yard, and proximity to neighbors. One thing's for sure: There are a lot of details on which you'll need to concentrate as you meet with your real estate agent and visit different homes for sale. While conditions are not always ideal for taking it all in, here are a few tips which may help you get the most from the experience.

  • Work from a checklist: Before plunging into a serious house-hunting campaign, it's a good idea to prioritize the features and characteristics you're looking for in a new home. Ideally, you should have a separate copy of the list for each home you visit and create a simple rating system for evaluating how well each property lives up to your expectations. Make note of your impressions and take a few photos of key rooms, such as the kitchen, master bathroom, or whatever areas are most important to you. As a courtesy, ask the real estate agent if they or the homeowner would mind if you took some pictures.
  • Arrange childcare if possible: When you're going over important details with your real estate agent or visiting a listed house for the first time, you'll be able to get more out of the experience if you can devote your full attention to it. Children, especially young ones, tend to be more focused on their own agenda, including hunger, boredom, sibling conflicts, and the impulse to wander off on their own to explore unchartered territory! When the opportunity arises to check out a potential new home, you'll want to have 100 percent of your mental and emotional resources available to appreciate and absorb all the details, nuances, and possibilities of a house that's for sale. Since "the best laid plans of mice and men often go awry", it won't always be feasible to arrange alternative (and sometimes last minute) childcare plans for your little ones. When it is possible though, you'll have more of your wits about you for the important task at hand.
  • While it's unrealistic to always expect house hunting to go smoothly and without a hitch, a focused and organized approach to finding the home of your dreams will always yield the best results!
     





    Posted by Mark Carmien on 3/27/2021

    Let's face it – the mere thought of informing family members about your decision to pursue a new home may cause your blood pressure to rise. However, there are many reasons why it often is beneficial to notify family members about your decision to kick off a search for a new residence. These reasons include:

    1. You can identify and address potential homebuying hurdles.

    Your family typically has your best interests in mind. As such, family members can help you plan ahead for the homebuying journey and resolve any potential conflicts.

    For example, family members can help you analyze prospective home financing options. They may even be able to put you in touch with local banks and credit unions that can help you get pre-approved for a mortgage. Then, once you have home financing in hand, you can enter the real estate market with a homebuying budget at your disposal.

    2. You can gain homebuying insights that you may struggle to obtain elsewhere.

    Family members who previously bought homes may be able to provide you with property buying insights that you probably won't receive elsewhere. With these insights, you'll be better equipped than ever before to understand the housing market and make the best-possible homebuying decision based on your individual needs.

    Of course, family members may be able to keep you informed about new houses that become available in your preferred cities and towns too. Because if family members know where you want to find a home, they can help you accelerate your property search.

    3. You can receive plenty of support throughout the homebuying journey.

    Your family is there for you during good times and bad. If you inform family members about your decision to pursue a new home, they can provide you with comprehensive support throughout the property buying journey. As a result, family members can work with you to help you achieve your desired homebuying results in no time at all.

    When it comes to getting help in your quest to discover your dream house, you may want to hire a real estate agent as well. If you have a real estate agent at your side, you can receive expert assistance as you proceed along the homebuying journey.

    A real estate agent is committed to helping you find a great home at a budget-friendly price. First, he or she will meet with you and learn about your homebuying criteria. A real estate agent next will craft a personalized homebuying strategy and notify you about new homes that become available that match your property buying criteria. And once you discover your dream residence, a real estate agent will help you put together a competitive offer to purchase this house. Lastly, if your homebuying proposal is accepted, a real estate agent will help you finalize your home purchase so you close on this residence and move into your new house.

    Take the guesswork out of buying a house – hire a real estate agent today, and you can seamlessly navigate the homebuying journey.




    Categories: Uncategorized  


    Posted by Mark Carmien on 3/26/2021

    This Single-Family in Hardwick, MA recently sold for $792,610. This Colonial,Farmhouse style home was sold by Mark Carmien - Maple and Main Realty, LLC.


    42 Jackson Rd, Hardwick, MA 01037

    Single-Family

    $809,525
    Price
    $792,610
    Sale Price

    14
    Rooms
    5
    Beds
    3
    Baths
    Farmstead home - Masterfully crafted, this home shines inside & out. Authentic, post & beam ceilings, hardwood floors throughout & many renovations including new vinyl windows, high efficiency propane boiler & outdoor wood furnace. Updated bathrooms with ceramic tile, freestanding tub, shower stall and tons of storage. On the first floor you will find 1 bedroom, a large mud room equipped with a pantry, separate entry way and sliding exterior door, washer/dryer hookup and built in sink. Also on the main level, Kitchen with stainless appliances (gas), large dining room perfect for hosting the whole family, quaint living room & separate family room with wood stove. Second floor features active Airbnb suite with separate entrance & private bath. 4 bedrooms, dressing room & additional kitchen. 3 barns with cheese making facility, solar array, 2 acre fishing/skating pond Timberbland clearable land.

    Similar Properties





    Categories: Sold Homes  


    Posted by Mark Carmien on 3/20/2021


     Photo by bidvine via Pixabay

    Some home projects and improvements can't wait - a leaking hot water heater or a water damaged floor need to be replaced right away. Other, planned renovations and upgrades are optional. Consider not only your current needs, but the potential impact of any large planned upgrade on your home's value before you proceed. If you are upgrading your home to sell it soon, the improvements you make should add value to your home and be recouped when you are ready to sell. 

    4 Home Improvements that Add the Most Value to your Home (and 3 That Don't)

    Some upgrades enhance the overall value of your home, while others allow you to improve the look of your home, and recover the majority of your costs when you sell. According to Bankrate.com, the best places to invest your upgrade dollars include: 

    A new garage door: It may not be fancy or a feature you notice, but replacing a sagging, out of date or ailing garage door with a newer, more secure model is a money savvy upgrade. The average garage upgrade costs about $3,600 -- and adds about $3,500 to the selling price of the home, making this a renovation that (almost) pays for itself. 

    Kitchen Update: Bringing a dated or worn kitchen up to current day standards -- a makeover that usually costs about $22,000 for the average home -- can improve the selling price of your home by thousands of dollars. The average kitchen update boosts the value of a home by up to $18,000.

    Enhance your yard with a deck: According to the Balance, adding a deck in your backyard expands your living space and allows you to add value to your home. The average cost of a wood deck is $10,000 -- and that deck adds an average of $9000 to your home's value, making it easy to add space without a huge investment. 

    Replace siding: The curb appeal of your home has a significant impact on your ability to sell it and on the price you receive. According to the Balance, replacing aging siding with a similar quality new version allows you to recover about 75% of your investment. It will also make your home more appealing to buyers. 

    Projects that Don't Add Value to your Home

    You should not take on these projects if you truly want to enjoy the results for a while, as they won't have much of an impact on the selling price or value of your home. Some, like swimming pools, can even scare away buyers that would otherwise be interested in your property. According to the Balance, the worst home upgrades include swimming pools of all types, interior painting (because buyers may prefer different colors) and whole roof replacement (except in emergencies).