Posts made by author 'Rick Payne'

It's hard to believe that we're nearly halfway into January. The way the holidays fell on the calendar, it felt like we were sprinting from Thanksgiving to the start of the new year! I had seven closings in December, which was a fun, busy and satisfying way to end 2019. I'm looking forward to carrying that momentum right through into the busy spring and summer seasons. Congratulations to all those clients who accomplished their real estate goals this year, and thank you for your business. It was my pleasure to work with you, and I look forward to our next transaction. 

The Roanoke Valley market finished strong, too. The Roanoke Valley Association o...

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On average, homeowners spend hundreds or even thousands of dollars heating their homes every winter. Fuel — no matter what kind you use — isn't getting any cheaper. Even in the Roanoke Valley, where our climate is fairly mild, we get some cold, cold days during winter, when your heating system has to work hard to keep up.

Depending on your current system and your budget, there are some easy and not-so-easy improvements that can help bring your costs down. The right answer for your home is probably a combination of improvements rather than a silver bullet. 

Start with an inspection

If you feel like your heating system runs and runs and runs but your house is still cold, hire a licensed HVAC contractor to inspect your system and its components. A good inspection might cost you a...

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When you start researching real estate investment opportunities, you'll want to consider the different types of investments to determine how to begin your strategy. Each type of investment requires a slightly different approach, but every one goes back to our three core investment principals: 

1. Buy at the right price.
2. Renovate at the right price.
3. Sell/lease at the right price. 

As you're learning about the different types of investments available, keep our primary goals in mind. 

Residential real estate

As the name implies, these are investments in properties that are meant for residential living, including: 

• Single family rentals: These are the most common type of real estate investment. We're talking about condos, townhomes and single-family detached homes. You can manage the...

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When done right, real estate is generally an excellent investment, especially if you're planning your investment strategy over the long term. I've been working with investors for a long time, and the formula for success is pretty simple: 

1. Buy at the right price. 
2. Renovate at the right price. 
3. Sell/lease at the right price.

Obvious, right? Maybe so, but you might be surprised at how difficult it can be to pull off. Here are two of the most common investments I work with, and the ins and outs of each. 

Rehabbing properties for sale

You've seen it on TV: Someone buys a fixer-upper, renovates it and sells it for a tidy profit — at least, that's the goal. This is the kind of investor I work with most often. This investor is looking for well-priced properties that need some TLC. Sometimes these are foreclosures, but ofte...

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