My Blog
We Buy, Sell and Rent Houses -
RSS Become a Fan

Recent Posts

“Don't let the opinions of the average man sway you. Dream, and he thinks you're crazy. Succeed, and he thinks you're lucky. Acquire wealth, and he thinks you're greedy. Pay no attention. He simply doesn't understand." -- Robert G. Allen
7 Tax tips for new real estate investors
Doubt whom you will, but never yourself. Christine Bovee
Why No Real Estate Investor Can Live Without An Assistant
Real estate investing-----5 myths that keep people from starting

Categories

Property Preservation
Real Estate Investing
Rental Property Management
Wealth Building
powered by

My Blog

Rental Property Management

7 Tax tips for new real estate investors


As a new investor there are a number of things you need to consider when setting up your business. It is important that you set it up correctly.
1. It is possible to do a few investor deals before you set up a business entity (LLC, S-corporation, or C-Corporation). If you do not have an entity set up you will report your business transactions on a Schedule-C tax form, as a sole proprietorship.
2. There is more than one type of tax on a business. There are four general types which include income tax, excise tax, employment tax and self-employment tax.

Why No Real Estate Investor Can Live Without An Assistant

Why No Real Estate Investor Can Live Without An Assistant

Having an assistant is one of the best investments you'll make as a real estate entrepreneur. Like all parts of your business (and yes, buying, leasing, and selling houses is a business), they require an investment of your money and also your time. You'll need to invest a little money in order to hire, train, and compensate them for their
. And, you'll need to invest some time to help them get the job done right-more in the beginning and much less as time goes on.

Tenant Moved Out Left You Holding The Bag

Tenant Moved Out Left You Holding The Bag
ByBill Gray
August 10 2009
Perhaps your tenant lied and took advantage of you. He may have skipped out on the lease or you may have evicted him. In either case, he damaged your rental and cost you money! What do you do now?
1. First, set your emotions aside and spend some time organizing your ex-tenant's file. Whether you own one unit or one thousand, or whether you manage your rentals full-time or part-time, you are running a business. Any successful business keeps well organized, complete records.

5 Hints To Help You Be A Better Landlord

5 Hints To Help You Be A Better Landlord
ByMichael Barnes
December 5 2009
Are you a landlord? Do you want to be? Do you or are you planning on buying residential property to use asrentals?
Well if you answered yes to any of the above, this article is for you.
First let me start out with the cold hard truth, being a landlord does not mean just collecting a rent check once a month and spending the rest of your time on the golf course. Being a landlord can be frustrating and can take a lot of effort.

Why Accounting For Leases Is Crucial For Your Rental Property


Why Accounting For Leases Is Crucial For Your Rental Property

ByTeo Zhenjie
March 29 2009
Whether you are a landlord or property manager, you'll find that accounting for leases will end up becoming one of your most important duties. Do you always take the time and effort to keep track of all of that money coming in and out, and are you diligent about it?
The truth of the matter is that there are plenty of landlords and rental property investors out there that are simply less on task about this subject than they should be, and at the end of the day, this is something that will very easily come back around and bite them when they least expect it.

7 Tips For Dealing With Tenants


7 Tips For Dealing With Tenants

ByJames Miller
January 24 2009
1) Make them part of the solution
When I get a request for something the that a tenant wants done, but I feel doesn't need to be done. I will often times make them part of the solution. I am not talking about things like a tenant being without ot water, or a broken window, but instead items like repainting a room, or in the instance I am about to describe, a screen door.
We had tenants that were in the middle of their second year with us.

Perfecting Your Tenant Pet Policy

 
  Perfecting Your Tenant Pet Policy

  Category Rss Feed-http://www.realestateproarticles.com/rss.php?rss=270
By :
Many a landlord shuns tenants with pets due to the increasing likelihood of repairs or maintenance down the road. It’s also more of a burden on the landlord to rewrite the tenant pet agreement, thus accommodating such pets.
However, given the economy it’s wise as a landlord to keep an open mind to renters with pets. Many would-be tenants are more likely to seek out tenant pet agreements that allow them to keep their pets, rather than getting rid of them for a short-term living situation.

How To Raise Your Rents Without Losing Your Tenant

ByJason Hanson
January 28 2010
Almost every year property expenses increase. Your insurance goes up, yourtaxesgo up and if your property is in an HOA, your HOA dues go up. And since we're in business to make money it's necessary to increase rental amounts every year.
Sadly, I know manyinvestorswho are so afraid of ticking off their tenants that they haven't increased rents in years. But think about it this way: It's much better to raise the rent $30-50 a month every year, versus waiting forever and all of the sudden raising the rents $200 a month.

How to start the eviction process and make tenant's pay or leave

How to Start the Eviction Process and Make Tenants Pay Rent Or Leave

How to Start the Eviction Process and Make Tenants Pay Rent Or Leave
ByMike Lautensack

Send a Late Notice

For the eviction process, you should send a late notice. Judges like to see that. They want to see that you've at least tried to work things out. Most states are going to require you to send some sort of notice to warn the tenant and give them the opportunity to correct the situation. Then you begin the eviction.

Money Judgments and Non-Monetary Issues

What Makes YOU a Good Landlord?

What Makes YOU a Good Landlord?
1. Understanding the need for quality tenant screening
"It is far better to haveno tenantthan to have abad tenant."

  • Rental Application forms
    A crucial aspect of screening tenants involves using a goodrental applicationand other forms that focus on determining how qualified the applicant is while legally protecting the landlord. Forms such as theTenant Finder Worksheetand the Tenant Finder Qualifying Chart can be very helpful after you have verified the information given to you on the rental application.
  • Website Builder provided by  Vistaprint