Real estate is a major part of your financial portfolio, whether you have one family home or several investment properties. We talk with local real estate agent, Hal Cone, to hear about the market and what you need to be aware of when it comes to buying or selling properties.
(Want to jump ahead in the episode? Click the featured times below to skip to a specific section.)
A lot of people tend to have real estate questions when it comes to financial planning. Brian has worked with Hal Cone for years and both benefit from each other’s knowledge base. Both run businesses that are detail-oriented, which makes a big difference when you’re talking about your financial decisions.
When people have investment properties, often they realize they don’t want to be the property management anymore because it is a lot of work. Real estate can be a big part of people’s net worth and even a good way to make an income in retirement. There also comes a point where people want to retire from real estate work. How do you know if it is time to sell?
Hal says that in the Roanoke Valley, it is a strong seller’s market. Properties have appreciated five percent in the last year. As long as the economy is strong, real estate tends to go the same way. But you also will want to get a CPA involved to find out what the taxes will be, especially with investment properties.
When you are looking at buying real estate, consider what your goals are. What are you looking to do in the next 5-10 years? Are you looking for a home for your family or a long-term investment property? Whether you are upgrading or downgrading, you want to make sure you are getting a good deal for your family while also meeting your goals.
Listen to the full episode to learn more about Hal Cone or click on the timestamps below to hear a specific segment.
[0:40] – Who is Hal Cone?
[1:40] – Taxes are different for a second home vs. a primary home.
[3:49] – What’s happening locally with real estate?
[4:43] – A strong housing market gives people an opportunity as a buyer or seller.
[6:00] – Real estate is all about the details.
[7:03] – Do people see potential family homes as investment properties?
[8:28] – Buying a home is a stressful experience, but Hal’s team works to make sure customers are cared for.
[12:40] – What happens when someone gets tired of taking care of their investment property?
Brian Bowen – Contact