3 Quick and Easy Ways to Investigate Neighborhoods in Grand Rapids

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MagnifyWhen you’re researching houses to buy or rent in Grand Rapids, you need more than the basics.  Knowing the beds, baths, and square footage of a house just isn’t enough!  You need to learn about the neighborhood, the crime rate, the schools, and nearby house values.

But how do you find that information quickly and easily?  As it turns out, you can navigate many free-to-use websites to find the important data.  How can you quickly find what you need to know in Grand Rapids neighborhoods?  Let’s dive in.

1.  Neighborhood Crime

If you’re not familiar with a particular neighborhood, it can be tough to gauge how safe the streets are.  Your best bet is to drive the area, visit local businesses, and ask the people that live there.  However, if you’re searching a lot of areas and houses, having quick access to crime data is a nice luxury. Continue reading “3 Quick and Easy Ways to Investigate Neighborhoods in Grand Rapids” →

Should You Rent or Buy Your Next House in Grand Rapids?

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thinkShould you buy or rent your next house?  For many decades, it seemed to be a no-brainer:  if you were able to buy a house, you did it!  But now, with more mobile lifestyles, changing housing markets, and the high quality of available rentals, it can be a tougher decision.

So how do you decide if you should rent or buy your next house in Grand Rapids?  In the end, it is a very personal decision.  However, here are a few key things to think about as you consider your options.

1.   Length of Stay

First, how long do you plan to live in your new house?  Are you confident that you like the neighborhood, the school districts, and the commute to work?  Think long term.

If you don’t think you’ll continue to enjoy the location in a couple of years, choose to rent.  If you’re not ready to settle down, buying doesn’t make much financial sense. Continue reading “Should You Rent or Buy Your Next House in Grand Rapids?” →

How to Win at MONOPOLY (and Then Apply Those Lessons) – Part II

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ManIn Part I of this post, we talked about a few excellent ways to win at MONOPOLY.  In the board game universe, those strategies and ideas will serve you well, and lead you to many victories.

But what about the real world?  Sure, it might be fun to win on a cardboard square, but how can we apply these same principles to our lives?  Fortunately, the game offers many parallels, and if we learn those lessons, we can put ourselves in much better financial positions.

 1.  MONOPOLY Lesson – Buy everything you land on.
      REAL LIFE Application – Buy assets, not liabilities.

In Monopoly, buying everything you can early is a good strategy.  It provides assets you can use later, and each one can be a key piece in creating monopolies, making trades, and building wealth.

This works in the game because every purchase in the game is a money-maker.  Even the cheapest properties, with no houses added, will give you a few dollars in rent.  Real life is very different! Continue reading “How to Win at MONOPOLY (and Then Apply Those Lessons) – Part II” →

How to Win at MONOPOLY (and Then Apply Those Lessons) – Part I

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MonopolyDo you hate Monopoly?  Do you feel like the game is all about luck?  It can be an extremely frustrating experience, especially if you’re on the losing end.

Because of our work in real estate, we get asked about this game a lot.  And as it turns out, there are plenty of tips and tricks to help you win.  On top of that, there are a ton of real-life lessons we can pull from this 80 year old game.  So grab your tiny metal dog, and dig in!

 1.  Buy everything you land on.

In the beginning, everyone starts from the same square, with the same amount of money.  So, once you roll the dice for the first time, what is your best move?  BUY EVERYTHING.

If you land on it, purchase it.  This is by far the cheapest and easiest way to acquire properties, and all of them get snatched up in a hurry.  Don’t worry if you don’t have any other properties in that color, or it’s a low rent part of the board.  Each property is an asset that you can use later to build a monopoly, mortgage for cash, or trade.  And since every property makes money, you’re off to a good start.

Even you have to mortgage a property to buy a new one, it is worth it.  Those cards become very valuable!

2. If someone is selling property, buy it.

If another player doesn’t want to buy a property THEY land on, it goes to auction.  In other cases, people will want to sell a non-performing property to get some cash. If you can, buy these properties as well. Continue reading “How to Win at MONOPOLY (and Then Apply Those Lessons) – Part I” →

4 Crucial Things You Need to Check BEFORE You Buy a Lake House in Grand Rapids

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LakeMichigan is a beautiful place, and we are blessed with abundant lakes.  While many of these are protected resources, we are fortunate to have many waterfront properties for sale.  Whether you love paddleboating in the spring, wakeboarding in the summer, or ice fishing in winter, lakefront living is great.

However, waterfront homes in West Michigan come with many extra challenges.  To keep you from being blindsided, here are four crucial things you need to check BEFORE you buy a Grand Rapids lake house.

 1.  Structure and Damage

Lake houses take a lot more abuse than inland homes.  This is due to different factors, including added moisture in the air, reduced tree protection from the elements, and more extreme temperature changes.  As a result, it can be considerably more expensive to properly maintain a lake house in Grand Rapids.

In addition, many waterfront homes were initially built as cottages.  We often see signs of rushed construction, reduced insulation, and cheaper materials throughout lake houses.  Because of this, they can become run down faster than average.

Whenever possible, get an inspector who has experience with this type of home.  They are quicker to identify waterfront-specific problems, and can often recommend contractors with experience in fixing them. Continue reading “4 Crucial Things You Need to Check BEFORE You Buy a Lake House in Grand Rapids” →

5 Negotiation Tips (to Avoid Getting Bullied) when Buying or Selling a House in Grand Rapids

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Negotiate
If you’re getting ready to buy or sell a house, it’s easy to get stressed about the upcoming price negotiations. How do you handle offers? Counter-offers? Requests for repairs? It can seem pretty daunting.

However, the negotiations don’t have to be stressful. After all, both parties ultimately want a successful sale! While entire books have been written on bargaining, let’s hit a few high points to make sure you don’t get bullied at the closing table.

 1.  Prepare in advance.

Most people think of negotiations as high-pressure moments, where power plays, shrewd moves, and witty one-liners win the day.  While this looks great on TV, most of the work happens long before you submit an offer. Continue reading “5 Negotiation Tips (to Avoid Getting Bullied) when Buying or Selling a House in Grand Rapids” →

4 Crucial Steps to Achieving Your Real Estate Goals in Michigan

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StairsDo you have a real estate goal for the coming year?  Perhaps you want to move into a nicer apartment, or transition into a new house.  Maybe you would like to start investing in rentals, or undertake a renovation that you’ve been waiting on for years.  Whatever the case, you need a solid plan!

So, whether you’re in Grand Rapids, Kalamazoo, or another part of Michigan, here are 5 crucial steps to help you reach your real estate goals.

1.  Decide What You Will Achieve

This is the crucial first step.  What do you want?  Be as specific as possible.  What will you achieve, and when do you want to accomplish it?  What are you willing to give in return?

Choose a single goal.  If you split your attention between multiple objectives, it is easy to lose focus; you may end up falling short on all of them.  Reaching what you want is hard work, and if you are able to have a laser-like focus on your end game, you are much more likely to achieve it.

The Latin root of the word decide is decidere, which meant “to cut off all other options.”  Choose a goal that is important to you, and DO NOT STOP working for it, no matter what.

There is great power in this type of decision! Continue reading “4 Crucial Steps to Achieving Your Real Estate Goals in Michigan” →

5 Key Preparations for First Time Home Buyers in Grand Rapids

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ClockHappy New Year!  We hope this is a great time for you, and wonderful things happen for you and your loved ones.  If you’re hoping to buy your first home in West Michigan in the coming months, this may be an especially exciting year.

But what is the best way to prepare for your new home purchase?  If you’re looking to buy a house in Grand Rapids or Kalamazoo, there are several great moves you can make to get yourself ready.

1.  Get a Grip on your Finances

No matter how you’re planning to buy your new home, understanding your finances is a great first step.  First, review your assets.  What do you have in your checking account?  Savings?  Do you have any stocks, mutual funds. etcetera?   Knowing exactly what you have to work with is important.

Understanding your monthly cash flow is also crucial.  Houses come with a lot of extra surprises, from leaky pipes to roof repairs.  Once you no longer have a landlord, all of those little fixes will fall on your shoulders.  Are you saving some money each month for unexpected expenses? Continue reading “5 Key Preparations for First Time Home Buyers in Grand Rapids” →

7 Great Reasons to Invest in Real Estate

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WindowWhen you’re building for your financial future, you have a ton of choices about what to do with your money.  You can invest in the stock market, help build businesses, purchase commodities, or bury treasure chests in your backyard.  The options seem endless!

We would like to make a case for real estate.  While every option has its advantages and disadvantages, there are a TON of reasons to seriously consider investing in land, buildings, and homes.  Here are a few of our favorites.

 1.  Flexibility

First, there are many, many ways to invest in real estate.  Most people think they can choose to either A) flip houses (thanks HGTV!) or B) become a landlord.  While these are popular, and potentially profitable, options, your choices don’t end there. Continue reading “7 Great Reasons to Invest in Real Estate” →

4 Things to Expect from a Title Company in Grand Rapids

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PaperworkCongratulations!  It’s time to close on your house!  Whether you are buying or selling, this is an exciting time.  One of your next steps is to get the agreement to a title company.  But what does a title company do in Grand Rapids?  What should you expect, and what is with all of those fees?

1.  Title Search

First, the title company will do a thorough search of your property’s history.  They will look for the chain of ownership, and check the transactions when the house was bought or sold.  In addition, the company will make sure that all documents have the proper signatures in place.

If anything is missing, the title company will tell you about it, so you can work to remedy the problem.

They will also check for liens on the property.  These could be from back taxes, unpaid contractor bills, or a missing signature on an old document.  In Grand Rapids and Kalamazoo, these issues will need to be fixed before you can close on the house. Continue reading “4 Things to Expect from a Title Company in Grand Rapids” →