Learning the Value of Real Estate Investment | Hansel Akers
Hansel Akers is one of PhillyLiving’s newer agents on the team but his family history with real estate goes way back. Growing up in Lancaster, Pennsylvania, Hansel’s aunt was one of the top real estate agents in Lancaster and many more family members were also heavily involved in the industry.
Hansel’s personal success with real estate investing has made him extremely passionate about sharing his knowledge with others, whether they’re a first-time home buyer or someone looking to get into real estate investing.
His personal experience with real estate goes something like this: After Hansel attended college in the expensive Washington DC area, he realized he could buy a condo in Northern Virginia using an FHA loan with just $8,000. After living in the condo for a couple of years, he ended up moving and renting it out– and when he did, he began quickly gaining equity while someone else paid his mortgage and put additional money in his pocket every month. Eventually, Hansel sold his first rental property and did a 1031 Exchange (Check out the 1031 IRS Tax Code) in order to buy another property with equal or greater value and not have to pay taxes on the money gained from the first property. Over time, he had learned to identify good investment properties by using real estate investing benchmarks, identifying low maintenance properties, and low property taxes all contributing to a sizable profit margin.
Owning an investment property provided the financial stability that Hansel didn’t really have in his younger years. He’s since been excited to help others gain this same sense of stability and teach them to build their wealth. While he’s not a mortgage guy, he does get excited about creative financing solutions and other tricks of the trade in order to become successful with real estate.
If you’re just now considering buying your first home, Hansel has the following tips to share:
- When you speak to an agent about the process, you’ll know if they are a good fit for you. Trust your instincts. They should listen well and be able to identify the types of homes you are interested in.
- Buying a home is the biggest purchase you’ll make in life. Take it one step at a time and work with an agent who will guide you through the process and educate you along the way.
- When you purchase a home, remember that you don’t have to put a lot of money down — but know that you are investing in yourself and in your future (Click here for a mortgage calculator).
If you’d like to learn more about making a wise investment with your first (or second) home, contact Hansel today at Hansel@phillyliving.com or 717-823-2883.