There are many great ways you can reinvest the proceeds from the sale of your Charleston house. In our latest post, we explore some options to make your new found cash work for you!
People sell their home for all sorts of reasons. Sometimes the cash is needed right away to pay a debt, and sometimes they find themselves with an unexpected surplus available to use elsewhere. Instead of spending this money on material objects and things that come and go, why not reinvest your earnings into something that will benefit you down the road? Below we will discuss some of our favorite ways to reinvest the proceeds from the sale of a Charleston house!
Real Estate Crowd Funding
A great way to reinvest the profits made from your Charleston area house, is to put the money into a real estate crowdfunding opportunity. You’ll want to research any investment before sinking your money into it, but investing in a real estate crowdfunding opportunity can be a passive and hands-off investment that can really pay off.
There is no greater investment than that in the future of your children. By contributing to a 529 plan or a designated college fund, you’re not only contributing to your child’s future, but you are also teaching them a financial lesson. The money placed in a 529 plan will grow tax-free, and will not be taxed when the money is withdrawn. Many families utilize these savings plans for their children ahead of time, so they are not blindsided by huge bills when their children begin college careers.
A Rental Property
When selling one home, it can be a great idea to reinvest in another. Not only will you avoid capital gains taxes this way, but you will also be able to find a rental property that really performs and generates a substantial profit for you. If one home or investment property isn’t working, maybe it’s time to try something different! When you find the right rental property in Charleston, you’ll be able to generate an almost passive income, building on the proceeds you have received.
If you sell an underperforming rental, you can use the funds to improve your primary residence. Building equity in your home as well as adding a feature you will personally enjoy is never a bad thing. Whether you want to improve a dated kitchen or repair an old roof, now is the time to get those things done. While you might be faced with capital gains taxes when you choose to spend the money on improvements, you will be able to take a deduction for your home improvement costs. Plus, in order to face capital gains taxes, you would need to generate hundreds of thousands of dollars in profits.
Pay Off Other Debts
Do you have high-interest debts weighing you down? Now is the time to clear them up once and for all. Paying money to borrow money doesn’t usually make sense. While carrying a mortgage can actually help in some financial situation, but having a high-interest loan or credit card doesn’t.
Before you go and spend all of your proceeds, don’t forget about the looming tax man. When you reinvest your proceeds into a “like-kind” investment, you will be able to avoid capital gains taxes. Always be aware of your tax consequences when you reinvest the proceeds from the sale of your home. You should always consult with your financial planner or CPA before making any financial moves.
Learn about some great ways to reinvest the proceeds from the sale of your Charleston house! Get in touch with us today to learn more! (843) 881-7171
The post 6 Ways To Reinvest The Proceeds From The Sale Of Your Charleston House appeared first on We Buy Charleston SC Houses.
There are many great ways you can reinvest the proceeds from the sale of your Charleston house. In our latest post, we explore some options to make your new found cash work for you! People sell their home for all sorts of reasons. Sometimes the cash is needed right...
Working with other investors in Charleston can help you buy and sell faster. In our latest post, learn more about the benefits of working investors and you’ll be able to find out what we can do to benefit you!
If you own an investment property in Charleston or the nearby areas that you are ready to sell, working with a fellow, local investor may just be the best way for you to sell. By working together, both buyer and seller of the investment property can benefit. Relationships can be built that will last a lifetime! Below, you can learn about some of the great benefits to working with other investors to sell your property quickly and without any hang-ups or hassles.
They Understand Your Plight
When you work with another investor, they will understand what you are trying to achieve, and won’t waste your time making unrealistic offers. You’ll be able to speak the same language and work together to create a win-win situation that works for all parties. A seasoned Charleston investor, such as the team at South Carolina Homes, isn’t going to waste your time with a bogus offer or make you wonder when the property will actually close. By working with an investor in Charleston, you’ll be able to save time and money in the long run!
Get A Fair Price
Seeing as they understand where you are coming so well, you can be assured they will pay you a fair price for the property. Both parties are on the same page. Finding a fair price should be pretty obvious to the buyer and seller who will understand both sides of the transaction. You won’t have to worry about haggling or answering ridiculous offers. When you work with a fellow Charleston investor, you’ll be able to meet like-minded individuals who you can add to your local network of associates in the business.
A Fast Sale
Just like you, an investor buying your Charleston house will want to close quickly. They don’t want their funds tied up while the sale is processing. And just like you, they will be motivated to move fast and close quickly. They’ll understand the holding costs and will work with you to take possession of the property as quickly as possible. When you sell your Charleston house quickly, you’ll potentially be able to save thousands on utilities, homeowners insurance, property maintenance, taxes, and possibly your mortgage.
Many investors will want to purchase your Charleston investment property as-is, saving you from repair expenses and wasted time. When you sell your Charleston house as-is, you won’t have to spend time or money making repairs, marketing the house, or even cleaning up. We will handle everything from start to finish so you won’t have to sink another dime into your unwanted house in Charleston.
Selling your house without an agent will save you a fortune in commissions. In many cases, there will also be agent fees and administrative expenses to factor in when hiring a Charleston real estate agent. Plus, the holding costs incurred during a traditional sale can amount to thousands if the property sits on the market for a while. By selling your house directly, you will be able to sell quickly, liquidate your investment property, and move on without any hassle or cost.
At the end of the day, working with other investors to sell your Charleston house is a great way to efficiently and effectively sell your property for a great price. The team at South Carolina Homes is buying houses in the area, and would love to work with you to sell your Charleston investment property!
Ready to learn more about working with other investors to buy or sell property in Charleston? Get in touch with us today! (843) 881-7171
The post Working With Other Investors To Sell Your Charleston House appeared first on We Buy Charleston SC Houses.
Working with other investors in Charleston can help you buy and sell faster. In our latest post, learn more about the benefits of working investors and you’ll be able to find out what we can do to benefit you! If you own an investment property in Charleston or...
Do you need to sell your investment property in Charleston? In our latest post, we offer ways to know it’s time to sell as well as the options available to you!
While owning real estate is one of the best ways to generate extra income, not every property is going to be profitable. Many investors hold on to properties far longer than they should, completely negating any profits they had made in the past. If your investment property isn’t performing as you would like to, maybe it’s time you consider selling it for something else! Keep reading to learn more about our 4 signs its time to sell your investment property in Charleston.
Negative Cash Flow
Investment properties will always have their ups and downs. It’s part of being a landlord. Look for patterns. If this is a regular occurrence, it might be best to hold on through the slow period. But if you are consistently seeing negative cash flow or if you are having trouble retaining high-quality tenants, it might be best to cut your losses and walk away. Nowhere does it say that you need to hold on to your rental property forever. There are better investments out there, and using the cash from your underperforming rental is a great way to change your situation.
Difficulties In Distance
Being a remote landlord can work for some people. But in some cases, paying a property manager can be expensive and handling things on your own can be next to impossible. Property showings, tenant screenings, checking on the property, and building a relationship with your tenants can be difficult when you aren’t located nearby. Only in some situations are a landlord and tenant able to live far away without the use of a property manager. Many times, these relationships are possible because the landlord and the tenant knew each other previously or through a friend.
The Value Has Jumped Significantly
If you are able to resell the house for a substantial profit, it might be in your best interest to do so. While you could be collecting rent each month, slowly profiting over time, there aren’t any guarantees you will be able to retain high-quality tenants for the long-term. You may run into vacancy issues, the rent prices in your area may fall, and the overall value may drop before you decide to resell down the road. If you have the opportunity to resell the property at a significant profit, it is something you will definitely want to consider.
Maintenance Costs Are Rising
As the house gets older, it will likely cost more to maintain it. As you see your profits diminish and your repair bills grow, you need to ask yourself if this pattern will continue. Having to fix one thing after another can be extremely costly and frustrating. Not only can the maintenance get expensive, but the time and stress caused can be overwhelming for Charleston investment property owners. Your investment should be a sense of pride and generate income for you and your family. Property in any other state may be more trouble than its worth and a great candidate for a resell.
Do you own an investment property in the Charleston area that you wish to sell? Let’s work together to run the numbers! Find out if you should keep the property, sell it directly, or hire an agent to help you! You have options when selling your Charleston investment property, and we are here to help!
Is it time to sell your investment property in Charleston? We can help you explore the options available to you! Get in touch with us today to learn more! (843) 881-7171
The post 4 Signs Its Time To Sell Your Investment Property in Charleston appeared first on We Buy Charleston SC Houses.
Do you need to sell your investment property in Charleston? In our latest post, we offer ways to know it’s time to sell as well as the options available to you! While owning real estate is one of the best ways to generate extra income, not every property is...
Selling your mobile home in Charleston can be a quick and easy process when you have a plan in place. While certain selling methods work for some homeowners, others are better served in other ways! There are many routes you can take when it comes to selling. Learn more about your options and get our tips for selling in our latest post!
When it’s time to sell your mobile home in Charleston, you’ll need to consider how long you will be able to wait, how much you can afford to spend, and how much you need to receive in order to meet your selling goals. There are multiple ways you can go about selling. Below, we offer some great tips for selling your mobile home in Charleston!
Clean & Repair
Before making your mobile home available for viewing, you will need to spend some time cleaning up. This is also the time to make all of those little repairs you have been putting off. Make sure all of the major systems such as the plumbing and electrical systems are in working order as a problem with these will greatly affect your mobile home’s value. Don’t forget about the outside of the property. Cleaning up the yard, tending to exterior damage, adding a couple of plants or a table and chairs can make your property more inviting.
Know Who Your Potential Buyers Are
Take a look at the demographics in your area. Are there more elderly folks buying, or young singles cashing in on the small house craze. Your marketing strategy should be dependent on who is buying in the area right now, not geared to those already living there. For example, a social media campaign will reach one audience, while direct mail will reach others.
Get A Clear Picture Of The Local Mobile Home Market
Pricing your mobile home correctly can be the difference between selling quickly and having it sit on the market for months at a time. You’ll want to price it for as much as possible without going too high and driving potential buyers away. Having to lower your price over and over again can make it appear as if there is something wrong with the property or that you don’t know what you are doing.
Make It Easy For Buyers To See The Property
If you are using an agent or trying to sell on your own, you’ll need to make the property available for showings. You want to be as flexible about this as possible, never turning down a showing if you can help it. Sometimes showings are requested at odd times, but it is in your interest to comply with your potential buyer’s request. You’ll need to clean up the property, getting it quickly into showing condition, then make yourself scarce as having the owner around can make a potential buyer feel uncomfortable.
Work With A Professional Buyer
The fastest, easiest, and often times the most economical way to sell a Charleston mobile home, is to work with a direct buyer. A direct buyer such as South Carolina Homes will pay you a fair price, free of any repair costs, marketing expenses or commissions. We can close on your mobile home almost immediately and will make the process incredibly simple and transparent throughout. You’ll be able to quickly sell your mobile home in Charleston, using your profits towards a different purchase or investment. Before you call an agent, find out if working with a professional mobile home investor is the right choice for you!
Selling your mobile home in Charleston can be a simple and profitable process. Get in touch with us today to learn more about what we can do for you! (843) 881-7171
The post 5 Tips For Selling Your Mobile Home In Charleston appeared first on We Buy Charleston SC Houses.
Selling your mobile home in Charleston can be a quick and easy process when you have a plan in place. While certain selling methods work for some homeowners, others are better served in other ways! There are many routes you can take when it comes to selling. Learn...
Before selling your mobile home in Charleston, there are improvements you can make to add value to your property. Learn about these improvements and the selling options available to you in our latest post!
#1 – Make It Energy Efficient
People are drawn to mobile homes because of their low-maintenance and low-cost lifestyle. By having a low cost of living, homeowners are able to spend their money on other things. The last thing they’ll want to spend their extra cash on is a pile or irrationally high utility bills. Mobile homes are small spaces. As long as the property is properly insulated, It shouldn’t cost a fortune to keep it at a reasonable temperature year-round. Before selling, make sure the unit and skirting are both properly insulated. By properly sealing off the doors and windows, or even replacing the windows with more energy efficient ones, your future buyer will be able to save on their heating and cooling expenses.
If appliances need to be replaced before selling, look for ones with the Energy Star. These appliances are much more efficient and will help to lower utility costs while helping the environment.
#2 – Tend To The Yard
A few changes to you yard can have a huge impact on the appeal of your home. Great curb appeal will help with first impressions, subconsciously making people want to see more. Some small things you can do include cleaning up any unsightly items, raking up the leaves and weeding the yard, planting flowers, adding stepping stones, and using aesthetically appealing lighting. Even if you don’t usually keep chairs outside, set up an outdoor sitting area to make the yard and entire property more inviting and appealing.
#3 – Paint
One quick coat of paint can change the entire feel of a room. It can help to cover up minor damages and nicks to the wall that can make the property appear less valuable then it really is. It is also a project you can do yourself or for a relatively low cost. Painting the exterior can be a great decision too. Changing the color and freshening things up can completely alter how people see your mobile home. Just be careful when painting the outside. Depending on the material, you might need to do some additional prep.
#4 – Move It
Your home is mobile after all. By moving it to a new location, you can quickly increase the overall value without having to change anything about your home. Your lot fees might go up, but hopefully, you don’t have to pay them for very long.
In addition to these tips, there are many other ways you can add value to your mobile home before selling. While major remodels and knocking down walls can get expensive, swapping out fixtures and making small, inexpensive improvements can add value to your mobile home.
Consider Your Selling Options
The tips listed above are great if you are hiring an agent or attempting to sell the property on your own. There is however another way to sell your mobile home, and that is directly to a Charleston investor. When you choose to sell your mobile home directly to South Carolina Homes, you’ll be able to avoid repair costs, marketing costs, lot fees, and the continued holding costs you will incur while you are waiting to find a buyer. For many mobile home owners, selling directly can be a more lucrative choice! Don’t spend another dime on it until you find out if selling direct is the right choice for you!
We’ll make selling your mobile home in Charleston a quick and easy process! Get in touch with us today to learn more about what we can offer you! (843) 881-7171
The post 4 Improvements to Make Before Selling Your Mobile Home In Charleston appeared first on We Buy Charleston SC Houses.
Before selling your mobile home in Charleston, there are improvements you can make to add value to your property. Learn about these improvements and the selling options available to you in our latest post! #1 – Make It Energy Efficient People are drawn to mobile...