Finding Acreage For Sale In South Jersey – 4 Sources That Sell

If you’re looking for land to buy, you should know there are several ways to search for it. In this blog post, we’ll cover how you can go about finding acreage for sale in South Jersey. Keep reading to discover some of the best sources…

Many Ways To Find An Acreage For Sale In South Jersey

An investment in land is a smart investment. There are many reasons why you might want to acquire a piece of land – perhaps you’re looking to use it for your own personal use – from farming to recreation to retiring, or maybe you’re looking to develop it as an investment that you hope to eventually profit from.

You might be looking for raw land; maybe you’re searching for farmland or empty land, or perhaps finding acreage for sale in South Jersey is your goal.

Whatever type of land to look for, here’re our 4 sources of places you should look.

#1. Finding Acreage For Sale In South Jersey In Classifieds Ads

There are many online classified ads (such as craigslist or the online version of your local newspaper) as well as classified ads in the print version of your local newspaper. Just start searching through their classifieds to make a shortlist of acreage land for sale in your area. You won’t get a lot of detail from the ad but it may tell you how big it is and how much it costs.

#2. Finding Acreage For Sale In South Jersey By Asking

Don’t forget the old “tried and true” method of finding something for sale… by asking for it. You can ask your friends and family, post on social media, tap into a network of real estate investors (which you might find at a local real estate investing association), or just ask everyone you meet – from your dentist to your dry cleaner. Just ask! You never know what you might find. And even if the person you ask doesn’t own the land, they may know someone who does. Of course, you can always ask us! Just pick up the phone and call us at (215) 882-9828 and see what we have available. Think of us as your “on-call” real estate network!

#3. Finding Acreage For Sale In South Jersey By Driving Around

Get in your car and drive. Drive into the rural areas of the state and look for two things: first, look for “For Sale” signs that owners may have posted on their land; second, look for land you like and then approach the owner and ask to buy it (this really works!) Driving around can be a time-consuming method but it’s also a great way to get out and enjoy South Jersey (bonus tip: bring along your spouse and kids for a fun family outing!)

#4. Finding Acreage For Sale In South Jersey By Reaching Out To A Land Seller

While the above 3 ways can be useful to find some land, you may not always get the widest options, the most variety, or even the most attractive prices. But if you reach out to a company like us here at Tactical Investing Inc. through this site, you can access our inventory of acreage land in South Jersey to find the right one for you.

To get in touch and to view our inventory, click here to enter your information or pick up the phone and call our office at (215) 882-9828.

6 Reasons Why You Should Sell Your South Jersey House Via A Rent To Own Contract

There are many great reasons why you should use a rent to own contract when selling your house in South Jersey. Learn more about what selling your South Jersey house in this manner can mean for you!

Using a rent to own contract is often overlooked by homeowners looking to sell a house in South Jersey. Many people fear becoming a landlord, however, the rewards can be much greater than that of a standard rental property. The tenant is more likely to treat the property with respect. You are more likely to get your rent on time. And you are more likely to get your asking price for your house in South Jersey. Don’t write off a rent to own contract when selling your house in South Jersey until you run the numbers and find out what selling this way can mean for you.

A Fast Sale

Using a rent to own contract to sell your house in South Jersey opens up your property to a whole new pool of buyers. There are tons of people out there who are eager to buy, and who will have no problems paying you. However, something is holding them back from obtaining a traditional mortgage. While some people simply lack the funds for a down payment or the credit to qualify for a loan, there are many other situations that can affect a persons ability to buy a house in the traditional manner. For example:

They are recently self-employed and unable to qualify for a mortgage
They were forced to spend their down payment on something else, but they still want to buy right away
They have another mortgage, making it more difficult to obtain a second
They have other debts, making them look bad on paper
They are haunted by a previous bankruptcy or eviction

Everyone gets into a difficult spot at one point or another. By selling your house via rent to own contract, not only will you receive many great benefits for yourself, but you will also be able to help someone reach their dream of homeownership.

Cash Upfront

A down payment or option fee is often required by the home seller. This fee varies by contract, but it can be anywhere between 2-7% of the purchase price. Remember that if your buyer is having trouble coming up with a down payment for a traditional mortgage, they might have trouble coming up with a large down payment for you. Keeping this fee low will help you attract more potential buyers to your property. That said, you do want to include an option fee as a sort of security deposit to make sure your buyers don’t simply walk away from the property.

Get Your Asking Price

While a traditional home sale price is often negotiable when you work with a buyer using a rent to own contract, the seller will often have the upper hand. Most buyers will be willing to pay what you’re asking in order to get a chance at buying a home. Properties that sell in the traditional manner are often sold for much less than they were originally listed for. Once the repairs and negotiations are completed, homeowners will often find they aren’t making anywhere near as much as they had hoped.

Consistent Income Each Month

Selling your house via a rent to own contract will provide you with consistent, guaranteed income each month. Your lease will specify the terms of the agreement, but for the next couple of years, you will have a guaranteed rental income that you can rely on. Your tenant is much more likely to pay their rent on time as they have a genuine interest in the property. In addition, the rent charged each month is often greater than standard rental properties in the same area. While in many contracts a portion of the rent is designated to the buyers future down payment, if your tenant/buyer defaults on the agreement, the option fee, and the increased rent are yours to keep.

Low Risk

A rent to own contract carries very little risk for homeowners. Tenants have a genuine interest in the property, helping them to refrain from damaging the house or skipping required maintenance. They want to keep the house as nice as possible as they will eventually be the rightful owner. If anything, you are likely to find your tenants fixing up the property as opposed to wearing it down. If the buyer defaults on their payments, you may lose the seller, but you will have gained income as opposed to just letting the house sit on the MLS. All monies paid toward the house will belong to you, and the house will be back in your hands. You might be back where you started, but you won’t have taken any hit financially.

Use a rent to own contract to sell your house in South Jersey! Contact us today for more information!

Using A Lease Option To Sell Your House in South Jersey

Thinking about selling your South Jersey house? Consider a lease option to get the price you want! Learn more in our latest post!

Lease options can be a better selling strategy than most people realize. It will help you get the best price overall while providing you with extra income until the house has officially sold. Below we will answer some of the most common questions we see about how to use a lease option to sell your house in South Jersey.

What Is A Lease Option?

A lease option will allow a potential buyer to lease the property for a specific term, with the option to buy at the end. The lease will typically last 1-3 years and if they are not able to purchase it at that point, the property will remain in your name and everyone can move on. During the lease term, the tenant will pay you a “rent” that is typically higher than average. Some agreements are arranged so some of this money goes toward the down payment if they opt to buy. However, whether they choose to buy or not, the amount you have collected during the rental term is yours to keep. So either way, you will come out ahead.

How To Set It Up

It is important to set the right terms from the very beginning. You want to make sure both parties have a clear understanding of their responsibilities and the timeframe in which the agreement covers. In most cases, you will set up a traditional rental agreement, with an option to buy at the end. There are a few key differences with a rent to own agreement as compared to a standard lease. First off, the tenant will likely be responsible for the repairs to the property. This will equate to even more cash that will stay in your pocket during the duration of the lease. You will also need to decide how funds will be allocated. While the rental payments are typically higher than average each month, you will need to decide where that money goes. Will you set aside a percentage to go toward the tenant’s future downpayment? Or will the rent payments become pure profit for you? Some agreements will also require a down payment or deposit of sorts to ensure good faith by the tenant.

A Whole New Market Of Buyers

Using a lease option will open your home up to a whole new market of buyers. There are tons of people out there who are ready to buy but are not quite able to get the financing they need. They are good people, who may have a blemish on their credit report from years ago. Or maybe they have been hit with an unexpected debt, keeping their loan from going through. By leasing your property with the option to buy, they will be able to get their credit and finances in order, buying your property outright when the time comes. This opens the door to a whole new group of buyers who may be interested in your home.

What’s The Risk?

There really isn’t one. Worst case scenario, they don’t buy end up buying your South Jersey house at the end of the lease. You will have made some good money, and the property will still be yours to do with as you please. You can opt to list it on the MLS with a whole new pool of potential buyers, you can rent it out in the traditional way, or you can take on another prospective rent to own tenant. No matter what, you will still come out ahead.

Contact us today to learn more about a lease option for your South Jersey property!

4 Costs Associated With Rental Property in South Jersey

If you’re thinking about investing in rental property, you’re probably doing your due diligence to make sure it’s right for you. Likely, one step in that due diligence is figuring out what expenses you’ll pay. Smart! To help you, we’ve created this list of 4 costs associated with rental property in South Jersey…

When it comes to investing in rental properties, it’s easy to think of the cash flowing income. But remember that your profit doesn’t come from the gross rent but what’s left over after your expenses. For that reason, here are 4 costs associated with rental property in South Jersey that you should be aware of…

4 Costs Associated With Rental Property In South Jersey

#1. Taxes And Fees

One of the costs you’ll have is the property tax you’ll pay, which could include property tax, school tax, municipal taxes, waste and recycling tax, HOA fees, as well as any potential income tax on your rental income. We can’t give you an exact amount that you’ll pay (it depends on a number of factors) but you should be aware of what the taxes will be.

#2. Insurance

Rental property is an asset and you’ll want to make sure that you and your asset is protected. For that reason, you should insure it. Make sure you insure the property and structure against damage (such as fire), as well as have some liability insurance in case your tenant or a visitor hurts themselves. Your tenant should also have insurance on their belongings.

#3. Upkeep

Another cost, which may be harder to estimate ahead of time, is upkeep costs. This includes things like the costs to maintain and repair the furnace, hot water tank, roof, and the plumbing and electrical systems in the house. Upkeep costs would be incurred whether you live in the house or your rent it out, and they’re important to ensure that your rental property is a nice place to live.

#4. Time

This last cost might surprise you but it’s the cost of owning a rental and dealing with tenants. You’ll need to spend some time finding a tenant, doing a background check, making sure they pay their rent on time, and occasionally checking on the property. And, since “time is money”, there is a cost implication to you. It can be minimized, though, with an investment into a good property and a property management team.

Summary

Before you let this list scare you away, remember: every investment has costs… whether it’s the transaction fees or management fees charged by your stockbroker or mutual fund manager, or whether it’s these 4 costs associated with rental property in South Jersey. What’s important for you to decide is whether the benefits far outweigh the costs. And when it comes to rental property, we believe they do.