Real Estate Investing

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Found 33 blog entries about Real Estate Investing.

Lake Charlevoix vacation homeIf you value lifestyle in combination with an appreciation profile, there just might be a place in your portfolio for a Northern Michigan vacation home that makes financial sense. Vacation home prices typically lag major market residential rates by 12-36 months.

But with asking prices for Northern Michigan waterfront and ski-proximate real estate up 10 percent to 20 percent this year (based on 24 months sold price per sq ft averages), discounting has not hit our market.

 While the obligations and negative cash flow aspects of ownership can sometimes be burdensome, the numbers still work as illustrated on our Investment Performance page. Now is the time to explore the pluses and minuses of buying a Northern Michigan vacation home property as it fits

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Home to an artsy, outdoorsy community, East Jordan is perhaps best known as the gateway to one of Northern Michigan's coolest wild places: the Jordan River Valley, an 18,000-acre paradise loaded with old-growth forest and the pristine Jordan River.  Because of the area's rich history, the homes for sale in the East Jordan real estate market are typically charming cottages and mature single-family homes, each with their unique perks and varying property sizes.  If you're looking for a home with a little more privacy, it doesn't get much better than right here. Properties here, especially those on large parcels, are hugged by lush patches of woodlands and greenery, which further enhances that feeling of exclusivity and seclusion. 

Harborage Pointe

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Nestled in the space between Lake Charlevoix and Lake Michigan, the city of Charlevoix is home to nearly 2,500 residents. As such, this quiet community enjoys great access to recreation along the lakes and conveniences at the heart of the big city. When it comes to the Charlevoix, MI real estate market, buyers will find that there is a nice selection of single-family homes and condominiums available. Note: We are including five condominium communities in this list that are actually on Round Lake, technically not Lake Charlevoix, but they are connected so it made sense to do so to us.  Charlevoix condominiums for sale are some of the most sought after real estate options in Northern Michigan.  

Edgewater Inn Condominiums in downtown Charlevoix are

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Boyne City is the epitome of a charming Northern Michigan town; where familiarity runs deep and waves exchanged by those passing by.  With roots that date back as far as 1856, Boyne City has always been cherished for its small-town allure and relaxed way of life.  Surrounded by the peace and tranquility of nature, friendly locals, waterfront wonders, and endless nature trails to explore, Boyne City might be just the rural paradise you're looking for.  Traditional communities, all built within the last several decades, woven together with a lovely little downtown area that residents adore.  For these reasons, it's no surprise that Boyne City real estate attracts all types of buyers, from young professionals to families to retirees.  It's easy to live an

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There's a reason this beautiful Northern Michigan lake placed second only to Lake Tahoe in USA Today's readers poll of America's best lakes.  A boat tour of Lake Charlevoix will not only give you a beautiful day on the water but access to three of the Northern Michigans best small towns;

  • Boyne City, at the eastern edge of the North arm, has seven condominium complexes located directly on Lake Charlevoix.

  • Charlevoix, on the lakes western edge, has two condominium complexes located directly on Lake Charlevoix.

  • East Jordan, at the end of the lake south arm, has four condominium complexes located directly on Lake Charlevoix. 

A shallow ledge, which outlines the entire lake, makes it ideal for anchoring and relaxing the day away.

Boyne

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There are lots to consider when buying a vacation home. Check out our three keys to help you in your search. Our team is ready to answer your questions. Give us a call at (231) 459-3179 or email Brook, brook@nmescapes.com.

 

1. Consider the cost—and whether you can afford it
Unless you purchase your vacation property with cash, you'll need to apply for a mortgage—typically, a downpayment of 10-20% is required. You’ll also need to meet minimum credit and debt-to-income standards, and provide documents for asset and income verification. 

2. Think: location, location, location
Lakefront cottage? Beachside condo? Cabin in the woods? Know what you’re looking for, then get to know the area.

Bonus tip:

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The tax filing deadline is quickly approaching. If you own a home, here are some important residential tax-saving incentives you should not miss:

Residential Energy Tax Credits

  • Residential Energy Efficient Property Credit - Taxpayers may take a credit up to 30% of qualified solar, wind, geothermal and fuel cell property improvements. This includes labor costs to assemble, build, and connect the equipment. The credit is capped at $500 per one-half kilowatt of capacity purchased.
     
  • Non-Business Energy Property Credit - Taxpayers may take credit for 10% of the qualifying costs to improve energy-efficiency for the non-business property. Qualified improvements include adding insulation, energy-efficient windows/doors, or energy-efficient
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A Guide for Getting Started

Vacation rental homes are spiking in popularity and for good reason. A 2016 HomeAway survey showed that 70% of vacation rental homeowners could pay at least half the mortgage on their vacation home from the rental income it generates. For owners who work with professional property managers, the cashflow benefits may be even greater.

Investing in a vacation home that’s also a vacation rental can create a best-of-both-worlds scenario: You get to enjoy downtime in one of your favorite locations while getting an income-generating property that helps pay for itself. Full-service vacation rental management companies like Northern Michigan Escapes make life even easier by booking and communicating with guests while also managing

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With the rising cost of rent in Northern Michigan, you might be thinking this year is finally the year you’re going to buy a home. This is an exciting time for anyone, but there’s one big thing that stands between you and your dream of owning: a mortgage.

While you might feel financially ready to take on a mortgage, it’s ultimately up to the lender to deem you responsible and financially stable. One of the ways they do that is to take a peek into your credit history. Maxing out your credit card in college or forgetting to pay a bill here and there might not seem like a big deal at the time, but it could come back to haunt you later in life when trying to apply for a large loan.

If you've been informed you have imperfect credit and need to boost

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Buying a home is an exciting time in many people’s lives. It’s the point in your life when you stop paying rent and start building equity with a mortgage. While there are many practical benefits to owning a home, something many people don’t discuss is the tax breaks.

As tax season is upon us, let’s take a look at some of the unique tax breaks that homeowners can take advantage of:

MORTGAGE INTEREST

For many first-time home buyers, one of the most pleasant surprises come tax season is the knowledge that your mortgage interest is tax-deductible. At the start of January, you should have received a notice from your lender letting you know how much mortgage interest you paid throughout the year. Homeowners are allowed to deduct the tax from up

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