How Much Contingency Expense Should Real Estate Investors Add to Their Budget

New real estate investors frequently neglect a critical element on their budgets. It’s the contingency expense. A contingency is the amount of money set aside for unplanned expenses. While it’s important to include a contingency in the budget before purchasing any investment property, adding a contingency expense is crucial before starting a major construction or […]

Pros / Cons of Financing New Properties by Refinancing Others

Credit is the lifeblood of modern society. Wise real estate investors know how to make the most of available credit, and they know when not to put their assets at too high a risk. Lenders use the term “cash-out refinance” when an owner uses equity in a property to invest in a new acquisition. The […]

How to Calculate Turnover Expense

    What is Turnover Expense? Basically, it is the cost landlords incur during the period when one tenant moves out, post- and pre-tenancy work is done, and the new tenant moves in. Knowing how to calculate turnover expense helps you to plan a long way ahead. Simple economics says that the higher the turnover […]

Precautions to Take When Your Rental Property has a Pool

Having a swimming pool can make your rental home more enticing than others on the market. At the same time, it also comes with a few challenges. Here are 4 precautions every landlord should take when renting out property that features a swimming pool. #1. Fencing in the pool As a landlord, you could be […]

Your Checklist for Buying Rental Properties

You’ve found a property you like after a hectic house hunting process. You’re excited; it is time to put an offer on the table, and you reach an agreement with the seller. All’s not done. Due diligence forms the vital part of the property purchasing, whether it’s buying a single-family home or that 100-unit apartment […]

What Are Acceptable Hazards for When Buying Flips

  Amid the excitement of finding your first home to flip, it’s important to remember selecting your flip is a business decision. As such, research should guide your choice rather than emotions. For instance, the general school of thought is move-in ready houses aren’t good choices for flips. The house must need improvement if the […]

Why You Should Walk Through a New Property Before a Written Estimate

    Purchasing a new property is a big decision–and it involves many steps. You know that, before you purchase a property, you need to get written estimates concerning what it will take to fix up the property. Before you do that, however, you should take the time to walk through the property yourself. Why […]

Using Average Rental Prices to Figure Out Your Renovation Budget

    ┬áPreparing a Renovation Plan Investors own rental properties for several reasons, but the two common ones are: Generate income by making a profit. Increase a property’s value during ownership. Financially, they are the two factors that successful investors use to test ideas and decisions about possible renovations. They work to a plan based […]

The Best Way to Handle Annual Maintenance with a Long-Term Tenant

Property Maintenance Properly maintaining investment properties has two main benefits: Good tenants value the care and consideration, so are more likely to re-sign a lease and stay. Well-maintained properties keep their value better, and are less likely to suffer electrical, plumbing, or appliance failure that demand emergency repairs and unexpected costs. Good maintenance, therefore, has […]

Why Investors Should Use a Home Inspector Who Works to ASHI Standards

Introduction To an investor, a residential property is a source of wealth creation, revenue, and profit. It is also someone’s home and an obvious part of a community or neighborhood. Most investors want to buy a property at the lowest possible price to maximize immediate equity ownership and potentially maximize their capital gain when they […]