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Selling 'for sale by owner' does not guarantee more profit in your pocket just because you are saving on realtor costs. Furthermore, while some FSBO do work out well, they are not all equal, as they depend on the house and the market.
One of the fastest growing trends in real estate is returning a higher profit by turning a property into a furnished short-term rental, typically either as a corporate rental (30 days or more) or vacation rental (less than 30 days).
Stanley Roper, the grumpy landlord in the ‘70s pop sitcom “Three’s Company,” lived in the apartment directly beneath his tenants’ apartment. If something went wrong - and of course things routinely went awry to keep viewers watching - Roper knew about it within minutes. Without a doubt, landlords must supervise their rental properties, but a landlord needn’t listen through the pipes, as Roper did, to stay on top of things. They want to assess problems and resolve them before they get worse - and more expensive to fix. In particular, appliances, plumbing, and a home’s heating, ventilation and air conditioning system - HVAC - require routine inspections and servicing.
Short-term rentals are eliciting a strong backlash in communities across the nation. Officials from Los Angeles to Capitol Hill are fielding complaints and mulling new regulations as the trend in short-stay leases grows. Airbnb alone has 3 million properties listed for rent worldwide, up from 550,000 in December, 2013. For residential owners, the chance to host strangers who want to live like locals during brief visits to unfamiliar cities is an opportunity to get ahead on their mortgage or save for retirement. To the visitors themselves, short leases can offer the most affordable vacation opportunity.
Good record keeping is important in any business being a landlord does not change that. Always keep track of all of your payments.
Landlords across the nation had a unique perspective last year when it became clear that one of their own would be moving into the White House. Real estate investors couldn't help but hope for an income boost since, while the new president's current financial success is closely tied to branding efforts, his family built its fortune on New York residential real estate. Hopes for cuts in taxes and reduced government oversight excited investors and capitalists of all stripes, writes the New York Times' Gretchen Morgenson.
Carrie Kirby and her family faced a tough choice when they left Chicago in 2012 to return to California. The Chicago Tribune columnist wrote about having to decide between selling her and her husband's Illinois home at a loss or becoming landlords. They chose the latter. Many homeowners confront this same scenario, as circumstances force a family to move. It could be landing a new job, searching for better schools or even inheriting a property. With the housing market beginning to pick up, many hope that selling the old house will be a snap, but the fear is that if it doesn't sell quickly, there will be two mortgages to pay.
Alarm is spreading among rental property owners over a proposal that would hold them liable if they failed to stop their tenants from harassing other tenants who are protected by anti-discrimination laws. The Federal Department of Housing and Urban Development rule could be enacted as early as this fall. What has landlords with multiunit properties worried is that they would be held responsible for failing to stop discrimination action by one tenant against another tenant in a protected class – even if the landlord didn't know the discrimination was occurring. No need to panic, according to HUD. The rule is only a clarification of an existing policy. And since it doesn't call for any new duties on the part of landlords, HUD states,
The green movement may be about environmental consciousness and conservation, but when it comes to your rental properties, there may be an added bonus to going green – it may lead to more green in your wallet. As international lawmakers have focused on greener policies, energy consumption has become an area of increased regulation. The trend started with increased attention from government regulators on energy consumption. That led to tax breaks being available for property owners who install new energy-saving equipment.
Things were getting out of hand at the small senior center in Quebec City. Hordes of people gathered every evening on the lawn of the private center on a quiet residential street. Strangers set up chairs and spread blankets as if it were a public park. Using smartphones loaded with a hot new game, the crowds played late into the night. Some nights, according to seniors who live at the site, groups of more than 100 people played Pokemon Go until 3 a.m., keeping the neighborhood wide awake. The center director finally hired a security guard to shoo away trespassers, some of whom had been urinating on trees and dropping trash on the property.
Technology has cut overhead and shifted record-keeping from piles of paper to management software, lease form automation and cloud-based storage. Understanding and making the most of these new tools will allow you to delegate some of the many tasks on your landlord to-do list.
Vacationers should expect to sign a rental agreement, too, whether they are renting a cozy cabin for a weekend or beachfront home for an entire summer. Just as even a brief getaway fulfills a vacationer's quest for a change of pace, a lease satisfies the owner's need for asset protection. In fact, short-term tenants are unlikely to view a vacation rental as their “home.” They may stay for a few days and never return, so it's important to provide them with a lease that has straightforward guidelines on caring for your property.
You're in the market for a rental property and you've narrowed the options to several possibilities when you confront an investor's dilemma: Should you make an offer on the tidy unit that's in perfect shape and ready to rent? Or, should you go for the one that's priced for far less, but will need some serious TLC before it can be leased at a rent that meets your target income?
If you own rental property, you own assets that are at risk. Just as large corporations protect their assets, landlords must be sure their investments are protected, even if they have just one rental property.
If you're a veteran interested in real estate investing, VA loans offer some incredible benefits... but also plenty of restrictions.
Landlords and rental investors' ability to budget for CapEx, or capital expenditures, is often the difference between successful investments and money pits.
With landlords being such common targets for lawsuits, the idea of anonymous ownership is awfully appealing. Is it possible to own real estate anonymously?
Fair Housing lawsuits against landlords and property managers are surprisingly common; here's how to avoid being targeted next by HUD and disgruntled renters.
The rich earn income from many sources, not just a job and one rental property. Real estate investing offers many types of income, but start with just one.
Fashion may recall prior decades, but home designs have changed radically in the last fifty years. Here's what real estate investors need to know.
Sharp real estate investors use every advantage they can get, but what are the pros and cons of investors getting their real estate license?
Two real estate attorneys and two real estate investing experts answer common property investing questions from financing to taxes to repairs.
Critics often blame artists for spurring gentrification and pricing out longtime residents, but what's the data on artists, cafes and appreciation?
Landlords and real estate investors have more complex accounting than most, and have twice the need to track their financial progress.
Low-end rental properties come with a laundry list of challenges for landlords and investors - here are some hard truths about hard areas.
Apartment buildings can make great investment properties, but usually cost more and come with their own distinct investor challenges.
It's easy to get excited about home improvement projects, but most offer a negative ROI, not the glorious returns most people expect.
Landlords and real estate investors notoriously fail to account for their labor costs, creating all sorts of problems in their business.
A recent report found systematically false forecasts by Social Security, further demonstrating that Americans need other retirement income.
Looking for a summer project that will actually pay dividends? Consider these home improvement ideas for your rental property to boost rents.
Being an absentee landlord doesn't have to be a bad thing - here's how to be a landlord for out-of-state rental investments.
A good real estate agent is hard to find, but necessary for efficient and effective real estate investing. Here's how to screen realtors.
Sometimes real estate investors have to look in new cities for viable deals - here's a guide to investing in new real estate markets.
Landlords are common targets of lawsuits, and can have complex and expensive accounting to boot, but Delaware Series LLCs can help.
Landlords need liability insurance more than most, given how often they're sued, so how does umbrella insurance for landlords stack up?
Your adult children can make great tenants and investing partners... but there are risks to signing a lease agreement with your children.
Why buy and hold real estate as rental properties? Here are nine reasons why earning returns through leasing is the path to success.
Boomtowns offer unique opportunities for real estate investors and developers... but come with high risks as well.
Rental property depreciation is an excellent benefit to being a landlord. Here's how it works, and how it can lower your income tax bill.
Credit reports from different credit bureaus have different scores and information in them, but what does that mean for borrowers?
Disturbingly, a new report finds that almost all of Americans' income growth occurs by age 35, and only the wealthiest continue to earn more.
Mortgage lenders have a science down for charging borrowers high fees, deceptive interest and rotating refinances... learn how to avoid them.
Real estate investors should educate their children from an early age about money, investing and entrepreneurship, because no one else will.
Home inspections can be the difference between dodging a $20,000 unexpected repair and, well, not. Here's what you should know when buying.
While most landlords are normal people with unrelated jobs, active real estate investors are far wealthier than average Americans.
Your first real estate investing deal is exciting, but can be intimidating. Here are some basic tips to help beginners with their first deal.
Vacation home rentals can be both fun and lucrative; here are ten US cities that Zillow named as the best places to buy vacation rentals.
College towns can be gold mines for savvy landlords, but there are plenty of risks in leasing to students, so proceed with caution.
Whether you're a novice or pro investor, here are 10 tips to motivate real estate investing learning, profits and expansion in 2015.
While 203(k) loans can be a cheap source of renovation financing, they can also come with red tape and delays: here's what you need to know.
What does the top 20% know that you don't know? Here's why retirement accounts and real estate investments make the rich richer.
Renovation investing can be lucrative, but don't believe everything you see on TV; here are some myths of DIY "reality" real estate shows.
Buying a vacation home is expensive, but by renting it out when not in use, some owners can make their money back and effectively travel free.
Friends and family can be a faster and cheaper way to fund real estate investments, but investors should consider a few points beforehand.
Most of us have a few crippling financial habits, but if fixed, anyone can quickly save money for real estate investing & wealth generation.
Getting a mortgage for a Canadian rental property is not as easy as it once was, but it still a viable way to start investing in real estate.
Sometimes investors and homebuyers need extra cash to buy real estate... are there times when raiding your retirement account makes sense?
Young adult migration patterns are a strong indicator of future economic growth and housing demand, marking good areas for real estate investment.
This no-nonsense account of how one rental investor achieved a 29% return on investment is chock full of down-to-earth tips and advice.
Hard money loans are often misunderstood, even by real estate investors. Here is a quick update on today's private lending for investors.
Buying real estate that needs TLC can be a profitable strategy, but it comes with plenty of risks; here are some tips for beginners.
Finding good deals in the real estate investing world can be difficult; here are six tips to help you discover profitable deals reliably.
Bidding wars are frequent realities in the real estate and rental investing world, so here are some expert tips to help you win the next one.
Dotting i's and crossing t's for legal compliance may not be the sexiest part of real estate investing, but smart investors play defense too.
New data released by Case-Shiller and Trulia reveal some fascinating facts about real estate appreciation in urban gay neighborhoods.
Investing in commercial apartment buildings often involves far more up-front cash, and requires better business planning and discipline.
Real estate investors looking to expand their portfolio overseas should consider these oft-overlooked gems, which are still affordable.
Negotiating is an art, which requires practice and strategy. Use these negotiating tactics to secure the best real estate deals possible.
Real estate development can be rewarding, but also involves more risk for the uninitiated. Here are some beginner tips to get you started.
Storage unit facilities represent a surprisingly profitable niche of the rental industry, but also involve high startup capital.
With investing icons like Warren Buffett and Sam Zell spending millions buying trailer parks, more mom and pop investors are taking interest.
Serious real estate investors need to know more than just the simple concepts, so here are some mid-level terms and concepts for investors.
Flipping homes may seem very 2006, but it is rapidly recovering in popularity (and profits) after a post-Recession slump.
Vacation rentals can be lucrative, but they are also a lot of work, and costly to furnish and maintain; here's what to consider.
Recent data by RealtyTrac reveal the best and worst counties in the US for rental investing ROI, based on home prices and average rents.
Here are ten of the best books for landlords' and property managers' continuing education, as they grow and evolve as investors and managers.
As bank foreclosures dwindle, bargain-hunting real estate investors are looking to another buying avenue: municipal tax liens and deeds.
Homes are getting smarter and more controllable through mobile apps; is it time for landlords to start upgrading their rental properties?
Early retirement is a dream for many, and may be more attainable than most people think, especially for real estate investors and landlords.
The the legal marijuana industry expanding, what can landlords and real estate investors do to capitalize on the changing times?
Walkability has been a growing buzzword and trend in residential real estate in the last five years; what does it mean for savvy landlords?
There are a variety of government programs available to help owners of underwater real estate, which are not necessarily well known.
As of 1/10/14, there are new restrictions on mortgage loans, even seller-financed loans. Here's the breakdown of the new Dodd-Frank law.
The ULI has just released its forecasts for 2014 real estate market trends and industry projections - where are North American rental markets heading in 2014?
Multi-family buildings can make excellent investments, for reasons both obvious and surprising. Along with the benefits come a few risks worth considering.
Some developed nations are already witnessing the economic pain that comes with lower fertility; how do negative birth rates affect real estate markets?
Lenders love to push refinances on mortgage borrowers, but are they always in the borrowers' best interest, even if they lower payments? In a word, no.
Not all states are economically healthy - here are eleven states with structural financial problems that real estate investors may want to avoid.
In high-rent cities like Seattle, micro-units can help meet the desperate demand for affordable housing, but controversy follows as some activists object.
Rising demand for rentals has led to a shortage of affordable housing in many places across the U.S., creating an opportunity for savvy investors.
This overview explains how real estate investors are not familiar with how 1031 exchanges work and why they're useful for real estate investors.
The definition of wealthy changes depending on who you ask, but this five-step ladder offers a universal guide to the different levels of wealth - and tips!
Sellers often give off signs that they will accept lowball offers - here are 7 ways to know when sellers just want to move on, to score that exceptional deal.
Rental properties can make great retirement investments, with passive income, ongoing appreciation and a hedge against inflation, but come with challenges too.
What makes for a better real estate investment, REITs or bricks-and-mortar properties? Both have their advantages; here are the pros and cons of each.
There are times to invest in stocks, rental properties, lenders and times simply to save money and pay down debt. But how do you know when to invest in what?
Why are mortgage interest rates increasing? Here are the basics behind the Federal Reserve and how it influences interest rates.
Sure, extra bedrooms and bathrooms mean higher rents, but what are some less drastic property improvements that can attract higher rents and more applicants?
Whether you're looking to invest or rent, finding the right property is hard work. Here are some common issues, and what to look for in a rental property.
Given a long enough time horizon, almost any piece of real estate makes sense to buy rather than rent, but what is the breakeven point?
Peer-to-peer loans have grown in popularity and accessibility, but how can they benefit landlords and real estate investors?
When landlords have extra cash flow, the question arises "Should I buy new rental properties, or pay off my mortgages?" It depends, of course.
Ever wish one simple mapping tool would show you an area's rents versus its income? A new tool put together by a data journalist now shows just that.
Not all states are created equal, when it comes to real estate taxes collected. Here are the highest 10 and the lowest 10 states for property taxes.
Quitclaim deeds are fast, inexpensive, easy, but do not offer any guarantees of clean title. Our overview explains the pros, cons and common uses of this form.
Getting rich is hard work; anyone who says otherwise is selling something. It can be done with a rigorous budget, 7 accounts, and aggressive rental investing.
How do you determine where to invest in rentals? Every investor has their own standards, but here are three measurements worth taking before making the plunge.
Capitalization rates are often misunderstood or ignored, but they are both simple and extremely useful in evaluating and comparing rental properties.
From luxuries to basics like washing machines, amenities are often the deciding factor for potential tenants. Here's what tenants look for in rental properties.
There is plenty of money to be made in renovation investing - and plenty to be lost, too. Here are tips from pros who rehab real estate investments full-time.
Parents often consider buying property for their children to lease. What are the advantages, and what are the risks of blending family and investments?
Here are five tips to help you secure the lowest interest rate possible for your rental property (Part II of this article: credit history and down payments).
Everyone wants a low-interest mortgage, but landlords' and real estate investors' livelihoods depend on their ability to borrow affordably.
Here’s a brief overview of how credit scores are calculated, and how real estate investors can increase their scores to secure cheaper financing.
Want to delegate some of your landlord responsibilities? It can free up time, but hiring a property manager requires money, trust and a tight contract.
Ever wonder what it's like to be a landlord in California? There are unique challenges and tenant-friendly laws, but also singular real estate opportunities.
Being a successful landlord in New York City is not without its challenges. However, it can be a profitable experience if you have a good strategy.
To protect your assets properly you need to know about the importance of insurance and how to prevent accidents to minimize insurance claims.
Finding a profitable rental property is a matter of doing your homework. Here, Ben Spofford shows you what factors to look for before deciding to buy.
Asset protection planning can help landlords both deter lawsuits and keep some or all of their assets if they're sued by tenants and lose.
Real estate markets move in cycles, but here are a few ideas for your long term real estate investing strategy for the big picture.
Find Links and Products for Real Estate Investing. These are products that we use and recommend for anyone who manages rental property.
Wait for the right time to buy real estate, and you may still be waiting 10 years from now.
Which will bring you the largest profits from Real Estate Investing?
So you want to get involved in real estate investing, but you just don't have any extra money to get started?
What should you consider when purchasing a property for real estate investing?
When investing in Real Estate, you may choose to buy and rent a property, or you may choose it 'flip it' (buy and sell quickly).
There are ways around a slow market that will allow you to earn an income, even while the home sales in your area are low.
Finding properties to resell at a profit is relatively easy - if you know where to look.
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