Innovative Features to Look for in a Commercial Property
It is often said that investing in real estate is one of the best ways to build wealth over time. With that said, purchasing a piece of commercial property and using rent as an ongoing revenue stream is one of the most tried-and-true methods of becoming a real estate investor. However, as with any type of investment, there are certain steps one must take to mitigate risk and maximize ROI. For more on how to accomplish this, keep reading for 5 innovative features to look for in a piece of commercial property. Top Notch Insulation As America eyes a net-zero economy by the year 2050, commercial buildings are under increasing pressure to add energy-efficient features to their properties. A fundamental means of making this a reality is by fortifying the building envelope via improved insulation. There are many types of insulation on the market, and all should be explored by commercial properties. Some examples include roof cover boards to prevent heat loss through the roof, radiant floor heating that provides insulative mats that heat the floor directly, and rigid polyiso exterior wall insulation that eliminates thermal bridges in the framing. Noise Management Features With rents skyrocketing across America, many commercial tenants are searching for ways to share their space with other businesses to help defray costs. Therefore, commercial buildings that provide elite versatility and promote customization will definitely stand out from the crowd. To accomplish this, many buildings are tearing down walls and providing more open interiors to make it easier to quickly give the space a facelift via portable partition walls and customizable screens. The downside to this approach is that the absence of solid walls can allow for unwanted sound transfer and distracting echoes within the space. To help in this regard, decorative acoustic panels for the walls and acoustic ceiling clouds are necessary to absorb sound and keep business local to an otherwise open interior. Hurricane Grade Windows Along the lines of open interiors and energy efficiency features, a greater window area is being built into commercial facilities to promote the flow of natural light throughout the space. While this approach reduces energy consumption while boosting worker morale in the process, many types of window glass will be conspicuously weaker than a solid concrete or brick wall. Therefore, when installing new windows to a commercial building, it is important to choose hurricane-grade storm windows. Using a structural steel frame, commercial storm windows are fabricated using reinforced glass that can withstand winds of up to 250 MPH and projectile force of 100 MPH, preventing damage and protecting the airtightness of the building envelope through all types of weather conditions. Flat Roof Support In contrast to the pitched roofs that adorn most private residences, commercial buildings will frequently feature a flat roof. This is beneficial for maintenance and repair access and promotes versatility for rooftop usage, such as via a rooftop deck. The downside to flat roofs is that accumulated precipitation may not drain as quickly as on pitched roofs. This requires additional insulation to protect against leaks. When the compressive force of the flat roof insulation, standing precipitation, and increased foot traffic are taken into consideration, the roof becomes at risk of damage. Therefore, it is important to look for flat roofs that utilize b decking between the substrate and roof insulation. B-decking provides diaphragm shear that transfers compressive forces on the rooftop into the building’s frame, significantly reducing the risk of acute damage to the roof. Modern Safety Features Although it is nobody’s favorite topic to discuss, commercial building owners must keep potential lawsuits and liability at the forefront of their consciousness. News of damage from severe weather events and human tragedy spread instantly in the social media era, and buildings found to be lacking in any of their safety features can result in unspeakable tragedy and the death knell of the business in the blink of an eye. Although there is really no way to be too thorough in safety preparations, a few of the most pertinent considerations to be on the lookout for when assessing a commercial building include: Is the parking lot in good shape with an appropriate amount of ADA spaces? Does the building use the latest fire retardant and smoke baffle system? Is the building completely ADA-compliant? Are there any doors that don’t close or lock appropriately? Is there a framework in place for secured and/or credentialed access? If there is anything about the building that gives you pause, partnering with a professional commercial building inspector can be a great way to proactively prioritize safety. Although this will be an upfront investment, it can help you prevent astronomically higher costs should an event arise in the future. The Most Prevalent Features in Cutting-Edge Commercial Buildings Without a doubt, purchasing a piece of commercial real estate is one of the best investments a person can make. To help guarantee you are making a sound investment, look for top-notch insulation, noise management features, hurricane-grade windows, flat roof support, and modern safety features that will help your property stand out to commercial tenants and maximize your income potential! – Sam Willis Sam Willis is a freelance writer that loves sharing his knowledge and expertise on commercial real estate. He lives in Atlanta, Georgia where he enjoys spending time with his wife and researching real estate trends in his free time. Sam’s work as a freelance writer can be found on Building Product Advisor, a new construction industry resource.
How to Navigate the Stress of Moving and Starting a Business
If the idea of starting a business and moving at the same time gives you anxiety, take a moment to plan before you make any major decisions. By putting a few measures into place now, you’ll make things easier on you both as you launch your startup and change homes to accommodate your entrepreneurship efforts. Get to know the housing market. No matter where you live, chances are the housing market is in a period of transition. This doesn’t mean that you can’t gain a bit of insight by looking at home prices for the last 30 days. Make sure to compare home prices in the neighborhood you’re interested in and have the amenities you’re looking for. Start your business slowly. As much as we hope success will come our way, we have to start slowly if we want to grow sustainably. You might begin working part-time on your future business. This is also smart if you plan to buy a home; quitting your job before closing may hinder your ability to take get financing. Another smart move is to start an LLC before you move into a growth pattern. Forming an LLC gives you some management flexibility and requires very few steps. You don’t even need an attorney, and you can save yourself some money if you research local LLC formation rules and do-it-yourself online. Confirm codes and regulations. Just as you have to make sure that you know the laws around LLC formation, you should also touch base with your realtor and/or the city regarding home-based business rules and regulations. You also want to talk to your homeowner association, if applicable, especially if your business will bring traffic into the neighborhood. If you plan to have more than one or two vehicles at your home at any given time, you may also need to build a parking lot – which costs a minimum of around $10,000 – and this may be prohibited by your HOA bylaws. Get help with your business. We can all use a helping hand sometimes, and this is never truer than when we are trying to launch a new business. Although there are many things you can do yourself, such as choosing a name, forming your business structure, and writing your business plan, you may need assistance as you launch and grow. A smart option here is to hire a freelancer, which is a specialist in a specific area that set their own pricing and only gets paid for the job they do. In other words, you are not committed to a 40-hour-per-week salary. Take some classes on your own time. If you want to go back to school while you’re moving house, it can be done — but it will take a little work. Going back to school online while moving is a big undertaking, but it can be very rewarding. Pursuing a degree in information technology, for example, allows you to develop valuable skills and knowledge which could open new opportunities for career advancement and growth. Online education makes it much more convenient for busy individuals who live hectic lives or have family commitments, meaning that learning can take place wherever there’s an internet connection so it won’t be disrupted by the movement from house to house. With the bachelor of science in information technology degree at your disposal, you will have the tools to go above and beyond what many people consider a “standard job.” Other Tips To Get You Going Research the market. Perform a competitive marketing analysis. If you’ve never done so, IMPACT offers detailed instructions on how to collect and interpret information on your competitors. Reduce stress when selling your home. If you’re selling your current home in the midst of buying a new home and starting a business, reduce stress here by ensuring that your listing is priced right and is presented online in its best light. Find a coworking space. According to Coworking Mag, there are many benefits associated with working in a communal space. These are flexible, offer lots of opportunities to network, and can put you in touch with like-minded individuals. A co-working space will also come in handy as you transition from one home to the other so that you don’t have to skip a beat with your customers. Is it going to be easy to buy a house, sell a house, and start a business at the same time? No. But you knew that before the idea even swirled through your brain. This doesn’t mean that you can’t relax some of the stressors that can make all three experiences less-than-positive. Remember, start by getting to know the housing market and forming your business structure, but don’t be afraid to get help at home and work so that you can focus on each when you are needed the most. In the market for a new home or investment property? Let Franklin Investment Realty help you find exactly what you’re after. Stop by our main page and send us a message today! – Shirley Martin
Tips and Advice for Maintaining a Home
One of the most important parts of owning a home is taking the time to maintain it, so it lasts longer and looks fantastic. Many have fallen behind on the art of home maintenance, but it’s never too late to start! If you follow these simple small tips, you can keep major problems from happening down the line. Check Pavers and Concrete This step is easy to do when following through with other lawn work or outside chores. Simply look at the ground pavers, sidewalk, and driveway on your property and make sure it’s in good condition. If you see any cracks, it’s vital that you get these repaired as soon as possible. When winter sets in, moisture can gather in these cracks and then expand as it freezes and crack further. The average winter season goes through countless thaw and freeze cycles, so a tiny crack could break an entire paver in half by the time spring arrives. Clean Showerheads and Taps This step is easy to do and should be done once every month to two months, depending on how much use the faucets and showerheads are getting. To do this, mix baking soda and water and apply this paste directly to the shower head and tap. Let the paste sit for around thirty minutes, and then wash it off by turning on the tap and wiping it with a clean cloth. If you want to take it further on taps, you can remove the filter to make sure there’s no build-up, but this isn’t as necessary. Ensure Features Are in Great Condition The features on the exterior of your home are important because they’re often the first part of your property that anyone sees. Check areas like your mailbox, patio, and lawn to make sure whatever features you have are well-maintained. From replacing a cracked birdbath to looking at new mailboxes because yours is old and rusted, it’s easy to make a small change that will freshen up your lawn and keep your property value high. Help Your HVAC System Run Smoothly Your HVAC system is the main thing that keeps your property comfortable through every season. Although it can be an added expense if you don’t already do this, it’s a good idea to take care of it and take steps like swapping out the filters every month or so. Beyond that, consider putting in a radiant heating thermostat so you can better control the temperature of your home. If your home has two floors, you may want to consider putting in a second unit to control the top floor separately. Heat rises, and if you try to heat your entire home evenly, you could be facing a lot of problems. Check Security Features Often Security features can make a huge difference in how safe you feel at home. This means going through and checking if your window locks, garage door, and external door lock all function correctly. If you have a doorbell camera, make sure the batteries on that stay charged and that it’s able to do its job without interruption. Install Attractive and Durable Updates When you’re updating your property, look for both quality and attractive features. This could mean manufactured stone panels that will last for years and look fresh, or it could mean updating to triple-paned windows to block out the weather and harsh conditions. If you’re unsure about a brand, don’t be shy to shop around and look at reviews. You want what’s best for your property, so it’s worth the extra legwork. Ensure Windows and Doors Don’t Leak One of the most devastating blows to any property is if there’s an air leak. This can ruin your electricity bill, allows extra moisture into your home, and can even invite insect life into your property. The best way to check if your windows and doors are leaking is to take a lit candle and carefully carry it near doors and windows while they’re closed. If you see the flame pull strongly one way or another when near an opening, that door or window needs a better seal. If all of your windows or doors are leaking, it might be time to replace them fully, depending on your budget. Keep Your Gutters and Roof Clear How often do you clean your gutters and roof? If you don’t currently have gutter guards, it’s a good idea to consider them since the average homeowner needs to have their gutters cleaned two to three times a year, depending on tree coverage and species. This can be dangerous for the homeowner to take on and expensive to have professionals complete. Your Home Can Run Smoothly When Well Maintained By taking the time to create a plan for yourself and keep up with maintenance, you can help your property last longer and look amazing while it does. Follow some of these tips if you want your property to thrive! – Sam Willis Sam Willis is a freelance writer that loves sharing his knowledge and expertise on real estate. He lives in Atlanta, Georgia where he enjoys spending time with his wife and researching real estate trends in his free time. Sam’s work as a freelance writer can be found on Building Product Advisor, a new construction industry resource launching in Fall 2022.
Your Home Renovation Starter’s Guide
Home renovations can be a very daunting task. There are many things to consider, from the initial design stages to the finished product. Homeowners need to be well-informed about the process to make the best decisions for their families and homes. Here we outline a few things to keep in mind when planning a home renovation. Should You Add An Addition to Your Home? One popular home renovation is to add an addition. This can be a great way to create additional living space, but Fixr.com notes that it’s essential to consider the costs and the impact on your home’s resale value. If you’re planning on selling your home soon, an addition may not be the best option. You’ll need to hire a contractor with experience in major home renovations. Remember that this renovation can disrupt your daily life, so plan accordingly for the construction noise and mess. As with the other types of renovations listed here, you can expect your contractors to use various software like estimating apps and construction management software, such as with this solution. Contractors can use construction software with a built-in customer relationship management (CRM) system so they can easily communicate with customers in one place while tracking responses and follow-ups. This is good news for you, as you can expect correspondence with your contractors to be efficient and timely. Add a Home Office A common reason for wanting an addition is to add an extra room or two, such as a home office. This can be a great way to create a dedicated workspace, but it’s essential to look at the noise level and lack of privacy if your office is near a high-traffic area of your home. When reviewing locations, consider an area with lots of natural light. If that’s not possible, adding skylights or extra windows is an excellent way to brighten the space. Basement Renovations Another popular home renovation is to finish or remodel your basement. This can be a great way to add extra living space, but it’s essential to consider the costs and the impact on your home’s resale value. Many homeowners finish their basements for enjoyment, but it’s still necessary to factor in the prices of materials and labor. If you’re planning on selling your home soon, a basement renovation may not be the best option. HVAC and Roofing Two essential elements of any home renovation are the HVAC system and the roof. These are two of the most expensive and complex systems in your home, so it’s essential to consult with a professional before making any changes. Many homeowners choose to upgrade their HVAC system when they renovate, which, as Pendley Heating & Air Conditioning points out, can save money on energy bills. The roof is another essential element to consider. A solid roof is necessary to protect your home from the cold and snow. If your roof is over twenty years old, it’s a good idea to have it inspected by a professional and complete any necessary repairs. New Windows and Doors Another critical aspect of any home renovation is the windows and doors. The weather this time of year can be brutal, so it’s essential to have good quality windows and doors to protect your home. If your home is over twenty years old, the windows and doors are likely outdated and may be in need of replacement. Many homeowners choose to upgrade their windows and doors to energy-efficient models, which can save money on energy bills. Home Renovations Are An Investment Home renovations are a significant investment, both in time and money. If you’d prefer to buy a new home with a stellar home office, contact Franklin Investment Realty for help finding the perfect location. Philadelphia-based Franklin Investment Realty provides clients with a range of experience whether it’s a purchase of a home to occupy or a property to buy within your self-directed IRA. Contact us today for more info! (215) 382-7368 – Shirley Martin
How Adding a New Deck Can Increase a Home’s Value
Your home’s exterior can make a huge difference in the number of people interested in your home: and how much it’s worth. If you’re interested in boosting the price of your property and aren’t afraid to put in a little extra work, here’s how adding a deck can increase your home’s value! Add Visual Appeal Visual appeal is one of the biggest reasons to add a new deck! Not only does a new deck look fantastic, but you can paint or stain it any color you want. This allows for a custom and gorgeous look that will set your lawn apart from anyone else’s. This type of addition is especially valuable if your lawn is otherwise unremarkable or has low spots that gather water near your home. The deck will give you a dry and comfortable place to sit and a way to hide drainage as you guide this water away from your property. Increase Usable Outdoor Space Since 2020 there’s been a large emphasis on usable exterior spaces that allow homeowners to get the most out of their homes. Instead of letting your home be uninspiring outside, you can enjoy a new and usable outdoor space that looks fantastic. This will ensure you get more benefits like vitamin D and can enjoy the fresh air. Over time this is proven to improve mental and physical health and can be awesome for everyone within your home. Affordable Materials Mean High ROI How much of a return you get on your investment depends on how much you paid for your lawn or rooftop deck and whether the market will be able to add that value to your home. Most decks add around 80% of the price of the build back into the property. Although this may not seem like a lot, if you built your deck five to ten years ago, that means you get to enjoy using it for that period of time and then enjoy selling your home for more money. Don’t cut corners, though! Get materials that are high value and able to last for as long as the future owners will need them. Can Add Square Footage to Property How large is your home? If your deck is large enough, you can often add its space to the square footage of your property. This is an incredible chance for anyone with a smaller house to spread out the area a little and possibly boost the value of their home without having to build an entirely brand-new bedroom onto the home. This can vary from state to state, so look into local laws and guidance, and work with a professional realtor before you decide to follow this update. Makes Home More Interesting to Families If you’re planning on selling your property any time soon, a deck will add a lot of valuable interest to your home. Buyers will love the idea of spending time outside with their loved ones and will instantly picture what their life will be like if they bought your home. Keeping up to date with the best polyurethane for decks you can find, and ensuring it always looks fresh and new, regardless of how old your patio is, is important as well. Nobody wants to buy a property with a rotting or old deck that they’ll have to replace or take down in a matter of years. Safer Area in Backyard In many areas, there are tons of risks within a backyard, from puppy poop to fire ants and even scorpions if you’re in a place like Arizona. Adding simple cedar deck boards and creating a gorgeous deck will give you a chance to pull up and away from your lawn. You can still enjoy it and get the most out of the outdoors without having to worry about where you’re stepping. Adding materials like hog wire deck railing makes it even safer, ensuring nobody falls or trips when they’re on your deck. Great Entertainment Space Entertainment is a must! We all love having friends and family over, so creating a space that’s not only a focal point but also attractive for your friends and family to visit will make a huge difference. You can take this even further by adding a grilling and outdoor kitchen area on your deck. Over time awesome memories will be created here, and it’ll feel like the main space of your home. It’s vital that if you do this, you ensure your wood is treated often and that your property is able to handle anything that’s thrown at it. This is especially true if you have more than ten people in any gathering on your deck. A New Deck Can Change Everything Whether you’re eager to sell soon or you’re trying to create a property that will be a great nest egg eventually- your deck matters. Add value by building this great entertainment space soon. Sam Willis is a freelance writer that loves sharing his knowledge and expertise on real estate. He lives in Atlanta, Georgia where he enjoys spending time with his wife and researching real estate trends in his free time. Sam’s work as a freelance writer can be found on Building Product Advisors, a new construction industry resource launching in Fall 2022. – Sam Willis
How to Hone in Your Home-Buying Priorities
There are a myriad of factors that you must take into account when you’re searching for a home. In addition to your budget, you need to think about how long you want to live in a home, what neighborhood is best, and what school district you want to be in. Of course, some of these considerations are more important than others — especially when you’re choosing between a starter home and your forever home. Consider these tips and help from Franklin Investment Realty to establish your priorities and make the right choice. Assess Your Plans for the Future One of the biggest factors that will influence your home search is how you envision your future. If you plan on having kids in the next few years, for example, investing in your forever home may be a better idea. It will likely be bigger, offering more room to expand your family. Along with the additional space, though, will come more need for upkeep — and a bigger price tag, too. Still, the additional cost may be worthwhile if you really want to put down roots in the area you’re shopping in. You can also avoid the hassle of moving again if you choose to invest in the home that you plan to stay in forever. Although a forever home will cost more, it could also be a wise financial move if you’re able to snag a low interest rate on your mortgage. Conversely, if your plans for the future include a home that you can rent out in a few years, a starter home may be the better bet. A starter home will allow you to build equity and then eventually turn the property into a source of income. Additionally, if you plan on staying for the long haul, it can be a good idea to explore your home warranty options. Not to be mistaken for homeowners’ insurance, a home warranty protects your home from incidentals, like appliance breakdowns or problems with essential systems like HVAC, plumbing, electrical, and more. Check out these steps to find the best home warranty provider. Decide What You Can Afford Your budget will likely be a deciding factor in whether you go for a starter home or your forever home. In most cases, a forever home will be pricier because it will be bigger than a starter home, and it may also be in a better area or have more amenities. You will need to weigh whether these additional features are worth the bigger monthly payment you’ll be faced with. Although a starter home may have a lower listing price, there may be substantial repairs or upgrades necessary to get it to the point you want. According to statistics, the average home remodel costs between $19,800 and $73,200. This is no small sum, and it could offset the savings you gained by choosing a starter home. This is especially true if you choose a fixer-upper that needs extensive repairs. Finally, you should consider how easy it will be to resell the home you choose. Life changes can happen unexpectedly, and even if you opt for your forever home, you may find yourself needing to sell it. A starter home will likely be more difficult to resell — especially if you only invest in minimal upgrades. A forever home, on the other hand, will likely attract more interest from prospective buyers. Get Your Priorities Straight Before House Shopping Finding the right house can be difficult, but it can also be rewarding when you finally find the perfect home. Before you can find the perfect home, you need to determine whether you’re looking for a starter house or a forever house — and you need to get your priorities straight. – Suzie Wilson
Durable Renovation Projects to Reduce Maintenance
Maintenance can be one of the worst parts of any property. We all want a home that will last and look great while also being cost-effective: but is that realistic without putting in a ton of constant work? It can be! These are some of the best ways to get your property into great condition and halt the need for tons of maintenance! Windows That Can Handle Anything Your windows can be the best or worst part of your property. If they’re loose and leak air, you know that your heating and cooling bill will be wildly expensive at all times. If you’re struggling with these bills, consider updating to storm windows. Not only are storm windows more likely to stay sealed for longer regardless of weather and surroundings: but they’ll also protect your property if you’re in an area that deals with hurricanes, tornadoes, or thunderstorms. Of course, storm windows cost more than the average window: but it’s worth it. Updating Your Appliances How old are your appliances? If you’ve had to call someone out to help with your dishwasher more than twice in the last year, or your oven feels like it’s letting out tons of heat and isn’t cooking your food as evenly as it used to: it could be time to update your appliances. This is an expensive fix: but you don’t have to worry about that expense for long! Going for energy-efficient appliances means that your home will be comfortable, and your electricity bills will stay lower than you’d ever expect. Replacing An Older Roof How old is your roof? An older roof will let out far more air and cause leaks, make your home more susceptible to rodent and insect life, and can be generally hazardous. If you’ve been spending years using a roof cover board and doing one-off repairs to try and make your roof last longer, it could be time to give up the chase and replace it full out. This replacement will give you the chance to kill off the amount of maintenance you need to complete on your home. Composite insulated roof panels can also boost how well your home keeps the temperature. Keeping an Eye on Your Siding How old is your siding? If you notice you have issues with ants, or your home seems to be getting a lot of noise pollution:, it could be time to update your siding. By looking at it, you can check to see if it’s warping, bent, discolored, or cracked: all signs that it’s time to update it. Updating your siding will fix a host of other issues and allow you to have a low-maintenance home with lower monthly bills to boot. Updating Your Lawn With Native Plants Plants that are native to where you live are one of the best things you can do to reduce maintenance and work on your property. These native plants will ensure your lawn doesn’t flood and, instead, the water into the soil. They can also reduce the amount of work and watering your news to do on your lawn since these plants will already be acclimated to the surroundings they’re in. Replacing an Older Garage Door How old is your garage door? An older one will be worse at keeping out moisture and insect life and can even get stuck open or closed: making it hazardous for whoever is in the garage. Replacing this door is also a home renovation project that offers the largest return on investment and gives you the chance to update your property’s look. This is a must to avoid future trouble. Repairing Cracked Concrete Cracked concrete is going to hurt you in the long run. When it goes through freeze and thaw cycles, these cracks will get larger and larger until you have to replace the entire slab. Instead of ignoring them, or working around them, consider either repairing the cracks: or replacing the pavers with some that are designed to be cracked. These come in gorgeous patterns that can allow them to move more fluidly with changes in the ground without cracking and can last longer. Swapping Carpet for Sturdier Options You may love your carpet flooring, but it’s not good for you and could be adding to how often you have to replace your HVAC filters. Carpet traps dirt, grime, and dust, and even if you vacuum, it doesn’t give up all of it. Although it may look cleaner than the average wood floor, it’s full of oils and debris that nobody should want to keep on their floor at all times. Beyond this, carpet ages quickly and can go even faster if you have pets or children. Swapping the carpet for hardwood, tile, or laminate can save you in the long run. Your Home Can Be Low Maintenance Although you may have already poured hours of work and time into your property: there’s no reason it can’t start to be lower maintenance starting today! Take the time to follow some of these tips, and make your property a dream to take care of in no time. Sam Willis is a contributor to Innovative Building Materials. He is a blogger and content writer. Sam is focused on helping fellow homeowners, contractors, and architects discover materials and methods of construction that increase property value, maximize energy savings, and turn houses into homes. – Sam Willis
Five Ways Real Estate Developers Can Invest in Safety
Successful real estate investors know how to juggle everything. They can make a profit, attract prospective tenants, and protect workers’ safety all at the same time. Developers who cut corners, though, may pursue profits above all else. In addition to the ethical concerns this brings up, it’s typically not an effective approach. When you skimp on safety, costly liabilities may come to fruition. Find out what it takes to become a real estate developer — and how you emphasize safety in your projects. Always Implement a Contract You may not think of a contract as a safety feature, but in many ways it is. An effective contract will outline the responsibilities of each party. This is important when you’re contracting with construction workers. Your contract should clearly identify the standards that they will be held to regarding safety. As you’re drafting this document, you may use Word so that it’s easier to edit, but you should convert it to a PDF before sending it to a client. You can do so with a Word-to-PDF converter tool. Keep an Eye on Construction Some real estate developers may take a metaphorical vacation between the time when a property is purchased and tenants are sought. This is a major safety risk, though, as a construction site should have constant oversight so that liabilities are avoided. This starts with choosing a site that has minimal flood or fire risk. Once building starts, a developer should further ensure its safety by establishing clear guidelines and enforcing them consistently. Personal protective equipment should be supplied, for example, and required at all times. Work With Trustworthy People It can be hard to know who’s trustworthy in a business context, but making this discernment is an essential safety issue for any real estate developer. In addition to a construction crew, you may need to work with professionals such as investors, a marketing and sales team, and an attorney. When you are looking for these people, you should ensure that they care about safety as much as you do. Install Lighting to Protect Pedestrians and Drivers Lighting is another essential component of your development’s overall safety. You might not think that lights can play a major role in reducing crime and preventing accidents, but research proves that they do. Indeed, if you have a parking garage on your premises, you need to ensure that drivers are able to see — even if there are canopies or tunnels. If you’re looking for canopy lighting, strategically placed lighting will ensure visibility so that pedestrians are safe. Ensure You Have the Right Qualifications In many states, there are no explicit requirements to become a real estate developer. If you aim to conduct real estate transactions, you may need to obtain a real estate license to do so. The criteria for licensure vary from state to state, but most areas require an educational component and passing a test. If you simply want to develop properties, though — and allow somebody else to manage the real estate — you can likely do so without a license. If you are seeking funding from a bank or investor, though, they may be more willing to provide financing if you can prove your qualifications. Pursuing real estate development is an ambitious decision, but it can pay off if you’re willing to invest in safety, protect yourself with contracts, install the right lighting, and ensure you have the necessary qualifications. If you’re looking to buy or sell an investment property, contact the experts at Franklin Investment Realty today! – Shirley Martin
How to Make Your Rental Property More Desirable
When it comes to investing in rental properties, it’s all about generating income to ensure profit. But like all types of investments, it comes with a risk. Mitigating those risks will require preparation, proper planning, and knowledge. Are you aware of the features that renters look for in a property? Are you sure those features will appeal to them? Whether you want to market your investment property or upgrade your current rental property, you should make it stand out. From significant modifications to minor tweaks, there are many tricks and hacks to make your property more appealing. To get you started, here are three of the most important steps you can take to make your property stand out from all the competition in Philadelphia, PA, and boost your revenue. 1. Hire a property manager You can always decide to manage the property independently, but you should know that managing a rental or even multiple properties is a full-time job. Achieving high returns requires constant attention and assessment of expenses versus the rental value to maintain quality tenants. An experienced and licensed professional will handle all the daily operations as they evaluate all areas with a focus on the long-term goal. You can also hire a backyard landscaping professional to upgrade your outdoors and lawn. But before you connect with a local contractor to discuss the upgrades and request a quote, you can research and assess companies by reading their online reviews. If you’re on a budget and worried about the costs, you can also evaluate which companies offer the best deals or credits for your landscaping project. 2. Fix any repairs This might sound obvious, but it’s easily overlooked. Walk around the property and look for areas that need fixing. Do you see any cracks in the walls? Are there any loose door knobs, light switches, or anything that seems off? Some quick fixes might seem minor, but they can make a huge difference. You want a good reputation and to show tenants that you’re an attentive and active landlord from the beginning – so ensure all appliances are in great condition. Constant maintenance during tenancies is important since it shows you care for your tenants and property; plus, it’s a good strategy to attract quality clients. 3. Video marketing your property If a picture is worth a thousand words, how many is a video worth? Video marketing is one of the most effective marketing techniques. And for other obvious reasons, renters connect more with houses visually, making it ideal for real estate expansion. Start by designing a video showcasing your property to attract prospective tenants. You can use a merge video tool to edit and quickly combine videos and images to design meaningful content. The tool basically allows the user to edit and share the exact moment they want to film/capture. Stand Out From the Competition Designing an appealing rental property can seem overwhelming or costly, but with the tips highlighted in this guide, and a compelling marketing video to attract quality tenants, all the hassle should be worthwhile. If you need a reputable property investment company in Philadelphia, PA, contact Franklin Investment Realty to help you in your venture. – Rhonda Underhill
Tips for Successfully Downsizing Your Home as a Senior
Downsizing is a common move for seniors. Smaller homes are easier and cheaper to maintain, which is why they appeal to retirees looking to save money and simplify life. Plus, downsizing is the perfect opportunity to move somewhere you’ve always wanted to live! By selling your home and buying a smaller space, you can free up cash for your retirement goals and get the most out of your golden years. Here’s how to navigate the downsizing process and ensure your move is a success! Talk to a Local Real Estate Agent Once you know where you want to live, get in touch with a real estate agent who is familiar with the area. A local real estate company like Franklin Investment Realty will help you find the perfect downsized home in your desired area. A great real estate professional can also help you determine how much money you can get for your existing home so you can arrive at a realistic budget for your new purchase. Consider Your Care Needs Before you start house-hunting, think carefully about your care needs. Do you anticipate yourself or your partner requiring assisted living or skilled nursing care in the future? If so, you may want to look for homes for sale near good nursing facilities. Skilled nursing facilities provide 24/7 care to people with medical issues. Do some research online to find information about the skilled nursing facilities in your area and be sure to read about pricing information and payment options. If you decide to move into a care facility, consider all the ways you can use your home equity to fund your care. Besides selling your home to cover your costs, you could also rent it out for monthly income. Prepare to Sell Your Home Unless you decide to hold onto your home and rent it out after moving, start preparing it for sale so you can find a buyer quickly. You may want to invest in a few low-cost upgrades to grab the attention of buyers. Certain upgrades might even pay off when you sell, increasing the value of your home enough to offer a return on your investment. Research which home projects are most likely to boost your home value so you can optimize your investment. Declutter Your Possessions If you’re downsizing your home, you’ll need to downsize your possessions as well. Start this process as early as possible. You might be surprised at how exhausting decluttering can be! Divide your home into sections and start small, working your way through single drawers and shelves at a time. It can help to create a couple of different piles for things you no longer want—one for the trash, one to sell, and one to donate. You can always hire someone to help with decluttering if it feels too overwhelming. The Simplicity Habit explains that a professional can help if you’re not sure where to start or have difficulty making decisions about what to keep and what to toss. Look for a professional who will work with you rather than take over the process entirely. Pack Early for an Easy Move The earlier you start packing for your downsizing move, the better. As you start packing up your things, you’ll likely come across more stuff that you can donate or throw away. Getting rid of excess clutter can help you save money on your move! By starting early, you’ll have plenty of time to sort through the last of your stuff and ensure you’re only moving things that will add to your quality of life after downsizing. This will also free up time to focus on all those last-minute moving tasks closer to your move date. Downsizing is a great way to simplify your life in retirement. Whether you decide to move across town or across the country, you won’t regret trading your big house for a smaller space. By downsizing, you’ll have more time and money to build the retirement of your dreams! Are you looking for a small home in the Philadelphia area? Franklin Investment Realty can help! Contact us today so we can answer any questions you have and discuss your home buying or selling needs. Call 215-382-7368 – Rhonda Underhill