Know the Difference Between Being Prequalified and Preapproved for a Loan Regardless of whether you’re buying a primary residence or an investment property, chances are that you’ll need to borrow at least some of the purchase price in order to get the deal done. With today’s low interest rates, this “cheap” money can help to [...]
If you own one or more residential rental properties, you may have considered selling – particularly in the hot real estate market we have seen over the past year or so. But even if you have a substantial amount of equity in your property(ies), it is still necessary to determine the various expenses you could [...]
Depending on where your investment properties are located, it is possible that you may have to deal with a homeowners’ association, or HOA. There are many “planned” residential communities – with single-family and/or multi-family units – that maintain a homeowners’ association in order to keep a clean and cohesive atmosphere throughout the neighborhood. These associations [...]
With mortgage rates still at near record lows, many experts are predicting that they will remain at these levels throughout the remainder of 2021 and beyond. So, with the opportunity to borrow being in the neighborhood of 3%, does it make sense to refinance your investment property(ies), or to instead hang on to loans with [...]
Just as many restaurants and other businesses in the U.S. have started to open back up, the “new” COVID-19 Delta variant is picking up steam – leaving many to wonder when or if the pandemic will ever end. With new lockdowns in Asia and Australia, it is likely just a matter of time before the [...]
For many people, the bulk of the money that they’ve saved is in an employer-sponsored retirement plan (such as a 401k) and/or IRA account. So, in order to access these funds to purchase certain “tangible” assets like real estate, you could face some significant penalties – on top of losing the tax-advantaged status of the [...]
If you’ve ever had trouble sleeping or you’re a night owl, it is possible that at some point you have run across ads for real estate investment courses that will teach you “how to make millions with rental properties.” The way these oftentimes work is by luring in unsuspecting people who are seeking more information [...]
With so much competition for rental property, you may be considering ways to make yours stand out, as well as offering more “perks” that can allow you to charge a higher amount of monthly rent. One way to do that is to provide added amenities – which can include furniture. A furnished house or apartment [...]
With homes selling so quickly these days – and often above the asking price – you may be considering whether or not to put a For Sale sign on your rental property(ies). But before you do, make sure that you consider the pros and cons. One of the biggest items to think about is how [...]
Investing in residential real estate goes far beyond just purchasing homes and finding tenants to live in them. Being a property investor is a business – regardless of whether you own one unit or hundreds. So, in order to better ensure success, there are some property management tips that you should ideally follow. These include: [...]
The COVID-19 pandemic has been difficult for many types of businesses. But some real estate investors have been hit particularly hard, as rent moratoriums have been in place for more than a year now. In fact, the CDC’s latest order has extended the residential eviction ban until at least June 30, 2021. Through this order, [...]
With the upcoming hurricane season quickly approaching, there are some ways that you can prepare ahead of time to protect your investment property – as well as to protect your tenants. Taking certain types of precautions can save you from having to make costly repairs in the future. It can also prove to your renters [...]
If you own one or more rental properties, it’s possible that you have built up some equity in these investments. So, if you’re looking for a way to finance additional real estate and/or to make some renovations, is taking a home equity loan or line of credit a possible option? The answer is yes… But [...]
As the owner of residential real estate, one of your worst fears is having a unit or property sit empty for an extended length of time. That’s because you are not only losing an income stream, but you may also be paying carrying costs such as the monthly mortgage payment, utilities, and insurance. But in [...]
If you’re a Florida investment property owner and you’re preparing to file your taxes for 2020, it is important to know where you may be able to get some relief in the form of deductions and/or tax credits. Before moving forward, though, you must first consider what type of investor you are. For example, if [...]
One of the biggest reasons that investors purchase rental property is for the ongoing income stream it can provide. Oftentimes, the amount of monthly rent that can be charged is based on the size of the property and the amenities it offers (such as furnishings, laundry facilities, etc.) But location also has a lot [...]
With life expectancy being longer today, it is not uncommon for people to spend 20 or more years in retirement – with much of that time being active and pursuing new opportunities. But if you’re receiving Social Security retirement benefits prior to reaching your “full retirement age,” other income streams could trigger taxes on [...]
If you’re looking for ways to make your rental property stand out – as well as strategies for charging higher monthly rent – you may have considered offering furnished units. But, while doing so could be more enticing for potential tenants, it may or may not necessarily be the best or most cost-effective way to [...]
While much has been said about COVID-19 stimulus relief for individuals and businesses – including a moratorium on evictions and rent payments for tenants - not a lot has come to the forefront regarding investment property owners and their ability (or inability) to pay their own bills. That is, until recently. In the waning [...]
The Coronavirus pandemic has brought about numerous changes. One of these is record low mortgage rates – and because of that, the U.S. housing market has been on the rise. In fact, as of mid-August (2020), sales of existing homes jumped by roughly 30%, following a three-month slump, and leading to a seller’s market. Housing [...]
The COVID-19 virus has affected the way we work, shop, and learn - and even the way we live – not just in the U.S., but around the globe. Yet, there are many people who might still be in transition now and require a new place to call home. With that in mind, is [...]
Although rental property can provide you with a steady – and passive – income stream, there may come a time that you decide to sell, move on and pursue other investment opportunities, or even to just simplify your life. But before you put up the For Sale sign, it is important to determine whether or [...]