When it comes time for your tenants to vacate the property, you want the process to go as smoothly as possible. A great move out process means that the tenants will adhere to the contract and leave you with as little to do as possible. The quicker this process happens, the faster you can get new renters in the property and see income rolling in…. [Read More]
Though most landlords will tell you their job is rewarding, they’ll also tell you it’s not without great personal risk, and that landlord insurance is one of the best investments you can make. A simple policy can mean the difference between seeing a profit and shelling out thousands a month for legal and property damages. For just a few hundred dollars a year, you can ensure that you are protected from property damages, maintenance issues, contract disputes, and even rental defaults from tenants…. [Read More]
Whether you’re buying your next home or another investment property, the inspection process is the single most important stage between an accepted offer and the closing. However, it’s not always straightforward. Depending on the home and how comfortable you feel, you may choose to have certain elements professionally inspected while analyzing others on your own…. [Read More]
As you know, no two real estate investors are the same. Everyone chooses to let their money work for them in different ways. There are dozens of unique specializations including apartment complexes, flipping, luxury home rentals, multifamily housing, vacation properties, and many more. However, for the beginner, certain options stand out above the rest. Multi-family housing units – and duplexes in particular – can be quite advantageous…. [Read More]
Whether you have children who will be attending college or you’re simply a savvy investor on the lookout for diverse real estate investments, buying and renting college real estate can prove quite lucrative. However, it takes very careful research, a detailed plan for ongoing maintenance, and a strong stomach.
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The idea of owning a vacation home is a luxury that few people are able to consider. However, if you find yourself fortunate enough to do so, you need to look at both the pros and cons and how they fit into your lifestyle. From a practical and financial standpoint, does investing in a vacation home make sense for your family?… [Read More]
The last thing you want is an article that overwhelms you with your duties and obligations. This is not one of those.
You know you have to stay on top of your rental properties on a regular basis. If you’re only inspecting them and reviewing financials every few years, you’re honestly missing out on potential profits.
Certain tasks should be done on an annual basis. If you fail to do these, your property can get into both physical and financial danger. To avoid these possible calamities, attend to the following eight tasks each year…. [Read More]
The idea of denying or rejecting a tenant application is frightening to the average landlord. Most approach the issue with fear and trepidation and believe any slight misstep could land them in hot water. And, while this is true to some extent (you don’t want to illegally reject a tenant), there are plenty of ways to go about rejecting a tenant in accordance with the law. You simply need a firm grasp on the issue…. [Read More]
Everyone understands the importance of “location, location, location,” but not many grasp the specific factors that make one location better than another. If you’re a landlord or property investor, not being able to distinguish between the relative virtues of different properties can be financially risky…. [Read More]
When you’re a landlord, there are two categories of mistakes you risk making.
The first are small and not very costly. These consist largely of learning experiences that don’t have any significant impact on your cash flow or stability.
The second category can be deadly, though. These are the mistakes that will land you in financial or legal hot water. If you’re making these errors, you need help … and you need it quickly!… [Read More]