Here’s what you need to know first! As a residential real estate investor, it is possible that you keep your eye on properties that are either going into foreclosure or that are already foreclosed upon and may still be purchased – oftentimes at a steep discount. But, while some foreclosures can certainly offer the opportunity [...]
With properties still selling in many areas at above asking price, a significant number of would-be homeowners have been forced to remain on the sidelines – at least for a while longer – and continue to rent their living space…and as a residential rental property owner, this can be profitable for you, particularly if your [...]
While many rental property owners keep their real estate investments close to home, that isn’t the case for others. One popular area to own residential rental homes or units is Orlando / Central Florida, due in large part to its long list of attractions and its year-round temperate climate. Although long-distance rentals can certainly be [...]
Here is the #1 most profitable improvement to make in 2022 If you’re considering making some improvements to your rental home(s) or unit(s), you may have visions of granite countertops and shiny stainless steel appliances in the kitchen, or brand new bathroom faucets and showers. But you may be surprised to learn that none of [...]
Do you really want to a landlord after you retire? A successful retirement has much more to do with bringing in an ample amount of income than it does with having a large net worth. So, if you own residential rental homes or units, you may be considering using the incoming cash flow from them [...]
In a hot real estate market where many properties are selling within a matter of just hours – some at $20,000 or more above the asking price – it may have crossed your mind to put your rental home(s) or unit(s) up for sale, and (ideally) walk away with a nice lump sum of cash. [...]
If you own one or more rental homes or units, you may find yourself going up against corporate rental agencies for tenants. But are these companies really your competition? In a word, no…at least not when it comes to personal service, as well as the manner in which many tenants are treated. A study published [...]
If you’re considering raising the rent on your rental property, one way to do so is to offer some upgrades that make the home or unit stand out to good quality tenants – and these don’t necessarily have to be costly. For instance, some of the best upgrades to make with your rental property to [...]
Throughout the years, sunny Florida has been known as a haven for seniors and retirees who flock to the area for its year-round temperate climate, as well as the long list of attractions, golf courses, beaches, and other amenities. As the owner of rental property in Florida, seniors can typically be excellent tenants who take [...]
While it might initially seem a bit far-fetched, the rising tension and Russian invasion of Ukraine is already having an impact on the U.S. housing market – which was already in the midst of a bubble – and in turn, it could even signal more potential renters for the home(s) and/or unit(s) that you have [...]
Is It Really Worth the Effort? Living in the Sunshine State definitely has its perks. The year-round warm temperatures are just one of the many enticing features. If you reside or own property in the Central Florida locale, you are apt to come across millions of visitors every year who come for the attractions like [...]
Coming up with what to charge for your rental property(ies) can mean the difference between finding (and securing) tenants right away or scaring off potential renters and having to carry the costs of an empty unit. There are several key factors that should be considered before you nail down an appropriate rent price for an [...]
While many residential rental property owners focus on leasing to tenants, in some cases, there may be a tenant who wants to eventually become an owner. Provided that you have an interest in selling, it is possible to set up a lease to own contract. As long as this is properly executed, there can be [...]
As the owner of residential rental property, how you have your lease agreement set up can be one of the most important components of your entire business. While having a carefully drafted lease may take a bit more time on the front end, it can be well worth it. Certainly, the necessary details in the [...]
With the U.S. stuck in a historically low interest rate environment for well over a dozen years now, it is expected that at some point in the near future, rates will rise. But, while that can be a positive move for bond and CD investors, what could rising interest rates mean for your rental property [...]
It’s hard to believe, but it is time to start thinking about filing taxes again. As an investment property owner in Florida, you may be able to take some significant deductions, which in turn can help you to keep more of your earnings in your pocket, rather than in Uncle Sam’s. With all of the [...]
The Internet can offer multiple advantages to rental real estate investors. Just some of these include the ability to show your vacancies 24/7 (without having to meet every potential tenant in person), as well as allowing applications to be completed and money to be collected for security deposits and monthly rent. In fact, for many [...]
Without raising the monthly rent! Owning residential rental property can provide you with a steady “passive” income source. But while many real estate investors rely on only the monthly rent as their incoming cash flow and profit producer, there are actually a number of other ways to increase your ultimate bottom line. These include bringing [...]
If you’re planning to add to your portfolio of Central Florida residential real estate investments in 2022, it is a good idea to first consider the anticipated outlook and trends for the area. That way, you will know better what to anticipate. According to the national real estate brokerage, Redfin, the housing market in Orlando, [...]
If you own residential rental property, then you likely already know that you must wear many “hats.” For instance, you need to advertise vacancies, screen potential tenants, and collect rent (and security deposits). There is also the day-to-day maintenance items, such as making sure that the property is habitable (which can include things like no [...]
Even with the most careful tenant residing in your rental property, at some point items, fixtures, and appliances will have to be repaired or replaced. Sometimes, it can be an easy fix. But in other cases, the cost can add up. So, who’s responsibility is it to pay for these things? The answer is [...]
Finding the right tenants for your rental properties can be difficult. But having an online marketing strategy in place can help to speed up the process, as well as locate potential renters who may be a good fit for your home(s) or unit(s). The good news is that there are some easy and convenient methods [...]
Which is the better investment? If you’re planning to expand (or start) your real estate investment portfolio, you may be considering whether it makes sense to purchase single family or multi-family units. Both options can provide you with some nice benefits. But not all types of property are right for all residential real estate investors. [...]
As inflation pushes the price of goods and services up, it can become more difficult to keep your purchasing power on pace if the amount of income you generate stays the same. For some people, annual raises from an employer can help. But what about investment property owners? In this case, it may be necessary [...]
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 [...]
Rental Property Advantages Although the COVID-19 outbreak has caused countless hardships for individuals and businesses, there are actually some industries that are thriving. One of those is the housing market. But, while low mortgage rates are enticing to home purchasers, not everyone is ready to buy. So, if you own residential rental property in [...]
As a rental property owner, it is likely that your goal is for your investment(s) to generate income, as well as to increase in value (and in turn, in equity) over time. With so many changes happening in the U.S. (and around the world) now, how could your property(ies) be impacted – particularly during [...]
A Home warranty can cover some or all of the cost of repairs or replacement on appliances, fixtures, and even major systems like water heaters and HVAC. While these policies can be extremely cost effective for homeowners, though, can they be purchased for rental homes? The Answer Is Yes The answer is a resounding [...]
Safeguarding your rental properties should be a priority at all times. But during the COVID-19 pandemic, it can be particularly important for keeping yourself, as well as your current and potential future tenants out of harm’s way. The good news is that people still need a place to live, even in these challenging times. [...]
If you own rental property in Orlando and/or the surrounding Central Florida area, you’ve likely made a very good choice in terms of your investment. That’s because – in addition to the roller coaster stock market, where you could essentially lose thousands of dollars every day – a recent report from the landlord-software TurboTenant found [...]
Even if your rental property is occupied by the ideal tenant, there may come a time when you want or need to sell your investment. So, how do you go about following the rules without infringing on your tenant’s rights or breaking the lease? The answer to this can depend in large part on the [...]
As an investor in rental real estate, it is likely that your ultimate goal is to ensure that you have enough money coming in to cover all of your expenses, as well as to set aside for emergencies…and profit! But as time goes on, how can you determine when it’s the right time to increase the [...]
While many people see the tremendous value in owning rental property – including both the income and equity it can provide – there is another factor involved with this type of investment that may not be so appealing to everyone. That is performing the duties of a landlord. “Landlording” can require you to be involved [...]
There are numerous benefits to living in Central Florida - one of which is the myriad of colleges and universities in the immediate area. Because of that, many young students are drawn to the vicinity every year, and those who opt not to live directly on campus will need a place to reside during the [...]
While being a landlord may not be ideal for everyone, doing so can offer you a great way to bring in some additional income, and at the same time increase your net worth. Over the past few years, the demand for rental property has continued to rise, due in large part to wages not keeping [...]
As the owner of rental property, you certainly want to maximize your investment to the fullest. But at the same time, you also need to make the best use of the hours that you have available in the day. So, how do you know when it could be the right time to consider taking on [...]
As the owner of rental property, the last thing you want to hear is that something needs to be repaired - or worse yet, that a major system in the property needs to be replaced. The thought of this alone can send panic into your mind. But the truth is that rental property repairs are [...]
One of the most difficult parts about owning rental property is finding tenants - especially good ones. So, when a tenant contacts you and says that they have to break their lease and vacate the property before the term of the lease has expired, it can be somewhat stressful. However, in order to help yourself [...]
While many real estate investors prefer one type of residential property over another, the truth is that it is possible to achieve success with either. What makes the biggest difference is whether or not you follow a particular investment strategy. There can, however, be definite advantages and drawbacks to owning either single family or multi-family [...]
When purchasing investment property to hold and lease, certainly one of your key goals is typically to maximize your rental income - and when doing so, there are usually two primary ways to increase your bottom line over time. One is to increase the rental income to your tenants. The other is to decrease your [...]
There are some larger commercial real estate investors who seek cash flow and diversification by investing for income with shopping centers. These types of investments can offer regular incoming cash flow. In addition, the property can also appreciate independently of the stock market, which can allow these investors to profit, regardless of market conditions. In [...]
Of the many questions that both new and veteran landlords have, one of the most recurring is that of whether to rent out residential property furnished or unfurnished. This can be a tough one to answer, as there are both pros and cons to going either way - and there can be a lot to [...]
A continuously occupied rental property can be a great investment. Just knowing that the rent check is coming in each and every month can keep your bank account augmented - and it can also allow you to sleep much better at night. But having a property that is vacant - even for just a few [...]
With life expectancy getting longer, it's being said more and more often that one of the biggest fears on the minds of retirees today is running out of income before they run out of time. This is easy to understand - especially as it is not uncommon these days for retirement to last for 20 [...]
When considering an investment in real estate, there are two primary ways that investors are making money in real estate. These include flipping the property for a quick cash profit, and holding the property long term to earn ongoing rental income. The term "flipping" real estate typically refers to locating a property that can be [...]
As a property owner, there will eventually come a time when you will need to raise the rent on your investment in order to continue generating a viable return. Yet, this can at times appear difficult, as you want to ensure that you don't scare your tenants away when doing so. In fact, not generating [...]
As an investment property owner - especially if you are new to buying rental real estate - one of the biggest questions that you likely have in mind is deciding how much to charge for rent. Certainly, any savvy investor will want to obtain as high of a return as possible on their investment. However, [...]
As a property owner, it only makes sense that you want to keep your investment as nice as you possibly can - and unfortunately, one of the fastest ways to rack up damages is by having a tenant with an unruly pet. In many cases, pets produce damage in large part due to poor training [...]
After purchasing a property for investment, you want to ensure that you place the right tenants into the property - ideally, the first time around. This is because the eviction process can be a long, tedious, and expensive ordeal. With that in mind, going through certain steps for screening potential tenants can help you to [...]
Even the best of landlords will likely have to deal with a problem tenant at least somewhere along the line. This is especially the case if you own numerous rental properties, or properties that have multiple units for lease. There are a variety of reasons why you may have to evict a tenant. While it [...]
Over the past few years - especially in light of some popular television shows - investors have taken note of the potential for profit in storage units. Yet, money can be made in areas other than just simply buying and selling the items that are left behind in these units. In fact, investing in storage [...]
For real estate investors who are looking for more than just a single income from one home or property, an apartment complex may provide the answer. An apartment complex is considered to be a commercial property - which is essentially a property that consists of five units or more. One of the key advantages to [...]
People who believe they would not qualify to rent a home as themselves have an incentive to pretend they are someone else in order to qualify for a lease. This could include people with poor credit, convicted felons and other sorts of criminals, and people with prior evictions, repossessions, and foreclosures on their personal record. [...]
Lots of landlords in Orlando and around Central Florida ask the same question: How much rent should I charge? Fair market rent (FMR) is determined by the rent collected for comparable properties in the area. Properties of similar size, bedrooms, baths, amenities, etc., should rent for about the same price in a given neighborhood. Rent [...]
People often ask me: Should I rent or buy in Orlando? Which is the savvier financial move? While there are many pieces to the puzzle in determining this, many of which will surely be discussed in later blogs, let’s take a ‘basic’ approach for this post. I have ‘basic’ in quotes because, while this is [...]
How to Photograph Small Rooms... or, Taking Pictures of Bathrooms - and other fun things! Are you having a tough time taking pictures of bathrooms in the Orlando house you’re trying to rent? Photographing bathrooms really takes planning and practice to capture the best shot. Between the reflections of the mirrors, the tile, the bad [...]
Is water heated by a free hot water heater any less hot than one you purchase? Unless you’re a rap superstar, you probably don’t like spending money you don’t have to. And, unless you have a religious issue with it, odds are pretty good that you enjoy getting stuff for free. Luckily for you, [...]
This blog post is intended to provide some guidance in how to get rid of fleas. As a forewarning, I'm not a pest control expert, biologist, or entomologist. I'm just a guy who has been inside a lot of rental homes... and a lot of them have had fleas. If you’re like most people, blood-sucking, [...]
No one is born a landlord. Nobody is born with the investor mindset. Some choose to become landlords as part of an investment strategy. Others become ‘accidental landlords’ when a job transfer or other unpredictable life event forces them to rent their former residence. Regardless, to be a good landlord requires a little finesse, a [...]
They say that the only certainties in life are death and taxes. I think it’s safe to add a third item to that list: Property repairs for landlords. If you own a rental home, at some point you will have to repair, replace or perform some other time of maintenance on your property. But, don’t [...]
Plain and simple – the absolute best way to get prospective tenants interested in your Winter Park Rental Home is to take quality, useful pictures to post in your internet ads. Exterior photos of rental houses are the cornerstone of good marketing. If you've ever bought or rented a home before you've probably noticed the [...]
Here's the situation: Your tenants have moved out and now your property is vacant. A prime target for vandals and thieves, there are several things you can do to secure a vacant property without hiring a member of the X-Men to stand guard at your property. (But hey, that's not a bad idea!)One of the [...]
Foundations in Florida tend to shift and sink as homes age. Not surprisingly, foundation problems can be very expensive to repair. Because of this, spotting foundation problems in Orlando investment homes is very important; not only for investment homes you already own, but mostly BEFORE buying! Here are a few things you should be aware [...]