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3 Problems Only Property Managers Will Understand

June 22nd, 2017
property managers

Only property managers will understand the problems that come with having a variety of different tenants.

Playing a unique role, property managers maneuver between real estate professionals and tenants alike. In fact, property managers interact with such a wide array of people that is can be overwhelming for those in the beginning stages of their career in the wild world of property management. However, there are some tell-tale problems that only a property manager can relate to. Here are just some of the more common problems every property manager has experienced at least once in their careers. Read the rest of this entry »

The Best Way To Calculate Improvement Ratio To Increase Annual Depreciation

June 15th, 2017
property

There are a lot of financial aspects of owning a rental property that can get overlooked.

Depreciation can be a struggle for any real estate owner. Depreciation is a reduction in the value of any asset that is caused by the passage of time due to wear on the asset. The Internal Revenue Service allows the depreciation expense to be written off each year to recover the cost of the initial investment. While not an efficient means to recover cost but it can help with overall loss. Today we are going to discuss how to calculate an improvement ratio to increase your annual depreciation. Read the rest of this entry »

4 Property Manager Best Practices To Start Using Immediately

June 8th, 2017
property managers

There are certain practices all property managers should follow.

Rental property management requires severe organization and skill. As such, when you are fortunate enough to manage multiple properties at one time, the situation could be cumbersome if not well-prepared. In fact, it is important to prioritize the most urgent needs first. As a property manager, it is your responsibility to manage and resolve any lingering or sudden problems that arise. Acting in a proactive way to help all tenants is a vital component of property management. As a result, there are certain tips and tricks of the trade that can help you be the best rental property manager and alleviate some of the insurmountable stress that invariably results. Read the rest of this entry »

Single Family Homes vs. Multi-Unit Apartments: The Best Investment For You

June 2nd, 2017
investment

Finding the best investment for your specific needs is easier than you think!

The investment game can be a cruel one yet a highly beneficial one. You, as a potential investor, have to take a number of things into account. You must make sure that not only is it the right time to invest for you personally but also that it’s the right time to invest for you in the market. Single family homes are often seen as a safer investment but for a lower reward; on the other end of the spectrum we have multi-unit apartments. They carry a slightly bigger risk and of course, garnish much bigger sources of income. It all boils down to what is the best option for you as a potential investor. Read the rest of this entry »

Lessons Learned From Evicting Your First Tenant

May 25th, 2017
tenants

Evicting a tenant comes with a myriad of lessons.

The time will come around sooner or later. If you are a home real estate investor you will be forced to deal with this. It is inevitable that you will eventually face an eviction sometime in your career. If you have never had to remove a tenant from your property it is not exactly a happy experience. The process is usually a long one with several hurdles to climb along the way. Read the rest of this entry »

4 Affordable Ways You Can Easily Spruce Up A Rental Property

May 18th, 2017
rental

Making your rental property feel more like home is a lot easier than you think.

Rentals come in a wide array of shapes, sizes, and rent-readiness. In fact, investors may end up purchasing a rental property that requires work before it can be rented out to potential tenants. In these cases, rental property owners are typically looking for cost-effective solutions that will save them time and money on renovations. So how can rental property owners make the best decisions when updating their rental properties? Here we discuss some budget-friendly ways to make any rental property attractive and desirable. Read the rest of this entry »

3 Steps To Take Shortly After Selling A Rental Property

May 10th, 2017
rental property sale

Selling a rental property requires extensive planning.

Oftentimes it simply makes sense to go ahead and sell a rental property you own. In fact, property owners sometimes need to free up some equity or finalized and completed a rent-to-own transaction, there is a myriad of reasons a property owner would have a desire to sell their rental property. However, it is critical that property owners understand what needs to be done right after they sell their rental property. Here are the proper steps every property owner needs to take after finalizing the sale of their rental property. Read the rest of this entry »

When Does It Make Sense To Pay Off All The Investment Properties You Own?

May 4th, 2017
investment property

Understanding how to get the most out of your investment is easier than you think!

Although there are a variety of investment strategies, there are some key techniques that create a rewarding investment experience. In order to reap the most rewards out of any real estate investment property, it is important to consider the financial implications that accompany such a large investment. Read the rest of this entry »

2 Ridiculously Amazing Reasons To Invest In Real Estate Near Colleges And Universities

April 26th, 2017
real estate

Investing in real estate near colleges and universities is one of the smartest decisions you’ll make.

Real estate is a wonderful way to make extra money while simultaneously making a huge return on your initial investment. However, choosing the neighborhood of your real estate investment could be the decisive factor as to whether or not your investment will be a profitable investment decision for you. In fact, avoiding high-crime neighborhoods isn’t the only thing you need to watch out for, there are other critical aspects of a neighborhood that need to be considered before investing in real estate. On the other hand, choosing real estate projects that are close to colleges and universities can actually be a huge benefit and reap immense financial rewards. Here are just a few reasons you should consider looking at real estate locations in close proximity to colleges and universities. Read the rest of this entry »

The Top 2 Items You Should Replace In Your Rental Property

April 18th, 2017
rental property

Knowing what items needs to be replaced in your rental is easier than you think!

Once you purchase your investment property, you are faced with a massive dilemma: what do I replace and what do I simply get rid of? It can be an extremely mind-boggling experience. In fact, choosing the best way to make your investment property work for you is to determine what items would be cost-effective to replace or upgrade and which items may need to simply be thrown out. Here are some of the more common items that are typically considered to be changed in a new investment property. Read the rest of this entry »