Over the past few years, we’ve seen a few innovative housing trends emerge to fill the void that exists in overpriced housing markets where it’s nearly impossible for middle-class families to find affordable housing. And while you’re probably familiar with the tiny house movement, you may not be as aware of another popular trend that’s sweeping the nation: container homes.
On the surface, real estate investing might seem fairly simple and straightforward. You buy a house, find a renter, and make some money. But what few on the outside consider is the financing portion of the investment process. Unless you have hundreds of thousands of dollars in cash lying around, you can’t exactly buy lots of property on your own. And because banks aren’t always keen on lending to people who already have a mortgage or two to their names, traditional lenders aren’t always an option. It’s in these situations that private money becomes highly attractive.
When you first get into real estate investing and landlording, people tell you all about how to find goods deal on properties, setting the proper rental rates, dealing with maintenance issues, etc. What they don’t tell you about is the importance of soft skills and interacting with people. But at the end of the day, a great deal of your success will be tied to how you relate to tenants, contractors, lenders, and other real estate professionals. And if you don’t how to “read” people, you’ll fail to realize your full potential.
When most people consider investing in rental properties, apartments in a city or single-family homes in the suburbs come to mind. But you shouldn’t limit yourself to these categories. There are plenty of other opportunities for real estate investing – including rural properties.
It’s hard to believe, but the holiday season is already upon us. While this means different things for different households, many families use this as an opportunity to invite people into their homes and enjoy the company of loved ones. And if you’re going to host people in your house, you should make sure it’s warm and inviting.
Renovations, remodels, additions…unless you’re handling it on your own, the success of your project ultimately hinges on the dependability of your contractors. And if you don’t have a background in managing these workers, you may find it difficult to move from beginning to end without a hitch. So before you start your next home project, make sure you have a plan in place.
Tenant retention continues to be one of the biggest challenges in rental real estate. Every time you lose a tenant, it’s a small but unmistakable punch in your financial gut until you can find someone to take that person’s (or family’s) place.
You can try various tactics to improve tenant retention, but one of the most effective is showing gratitude. This is true for any business that hopes to keep its customers; as they say, you’ll catch more flies with honey than with vinegar.
We all love our furry friends. Cats, dogs, rabbits, gerbils…you name it. But for all of the joy that they bring us, it’s hard to deny the mess that pets come with. And if you aren’t careful, these hairy roommates can turn your cozy home into a smelly zoo.
In busy real estate markets, rental properties go like hotcakes in a crowded diner. But when the inevitable slow spells come, it can be more challenging to find tenants to fill vacant properties. Knowing how to wow them on the spot can help you avoid the cash flow problems that come with empty rental properties.
The American Dream is a pretty broad, overarching concept with a diverse array of definitions. But do you know what one of the common threads between them is? Home ownership.