Using Rental Checklist to Increase Real Estate Income
Success in real estate investing, much like life in general, hinges on a person’s ability to attain and leverage resources. Consequently, a highly organized investor of rental properties has the best chance at scaling their investment business for maximum returns. Utilizing a rental checklist can be quite helpful for both the landlord and tenant. Tracking property conditions is an important way of creating satisfaction and avoiding unnecessary conflict in the world of real estate.
A number of clever tactics can be implemented to maximize rental income. Creative thinking is the key to success for any real estate investor. A smart landlord should maintain a balance between adding value to the property and improving their tenants quality of life. The ultimate goal is to bring innovation and organization into your property investment business. Following these guidelines will help to lead you into a brighter and more lucrative future.Read More
Understanding Real Estate vs Personal Property Tax
Property tax is generally divided into two categories—real estate tax (sometimes termed real property tax) and personal property tax—and there are significant differences between the property tax categories in how the taxes are determined. Whether a property tax is deductible for income tax purposes depends on whether the property is used for business, investment or personal use. Property tax is generally levied on tangible property, i.e., property you can actually touch, as opposed to intangible property such as copyrights, trademarks, business goodwill and patents.Read More
Escrow Process – Understanding from Earnest Money Through Closing
So you have decided to buy a home. OK, you probably understand some basics like making the offer and eventually getting the keys. But, if you’re like most, there are a lot of questions in between the two steps. This is called the escrow process. Although escrow is not the most exciting part of a purchase, it is important to understand the escrow process timeline. Preferably before it starts! So let’s discuss in detail how the escrow process for buyers works from contract to getting the keys.Read More
Is a Condo a Good Investment?
The great thing about making investments in real estate is that there are so many different options. But what is the right choice for you? Is buying a condo a good investment? It could be a great investment in certain circumstances, but not the best choice in others. There are pros and cons to any real estate purchase. Condo purchases are no different. Read on to learn more about condo investments and how to make the best decision for you.Read More
How Long Does it Take to Buy a House?
For many people, purchasing a house is a big part of living the American Dream, but it can be a lengthy, and downright tiring process. Most home buyers are looking to improve their living situation as soon as possible, and naturally, one of the critical questions that they’re concerned with is: how long does it take to buy a house? While the answer to this question may vary depending on the customs and real estate laws specific to your area, there’s a standard procedure for buying a home that requires you to invest a lot of time – and rightfully so. Not only is it one of the most life-defining financial decisions that you will have to make, but it’s also irreversible, for the most part, once the contract is executed, and all contingencies have been satisfied. So, although you may be eager to acquire the keys to your new home as fast as possible, it’s important that you invest sufficient time into purchasing a home and all of the factors that may influence time and money. Below you’ll find useful information on the average time to buy a house in the United States.Read More
Should I Rent Before Owning a Home or Condo?
There are many factors involved that can make a choice to rent before owning seem like an extremely complicated decision. Naturally, the place that you select to live will have a deep impact on your overall quality of life. Home ownership for many, especially first-time buyers, is highly desirable, but thinking about the overall financial commitment can be stressful. The internet age has brought us so much information about why buying a home is fiscally smart, while at the same time, we are bombarded with news about bank fraud (hello Wells Fargo CEO), foreclosures, and politicians painting doomsday scenarios about the state of our national economy. However setting all hype and outside noise aside, strategic execution into buying a home can be the best decision of your life. After all, real estate, when viewed upon as a long term investment over decades, has proven to be extremely effective and lucrative. This guide will help you to weigh out the pros and cons of if and when to rent before owning so that you can make a wise, informed choice for your future.
There are expenses associated with owning vs renting a home that should be weighed carefully, starting with an honest assessment of the overall costs. While there are variables in the figures depending on the property, this guide will give you a solid place to begin your understanding. We’ll examine each expense in detail and provide useful hacks covering the questions to ask when renting a house and more. It will be best to create a google doc and do a side-by-side comparison of these costs, line by line and then below the costs, make some overall notes. Doing the exercise of reviewing and budgeting your living expenses is well worth the time as it may open your eyes to costs that you might not have considered.Read More
Ultimate Guide to Buying Waterfront Properties
Waterfront properties offer a lifestyle that is second to none. In today’s digital age, it’s easy to get bombarded with requests and obligations around the clock, leading to difficult stress levels that can seem almost inescapable at times. So what is the ultimate escape? A gift that keeps on giving? How about knowing that each and every day magnificent waterfront sunrises and sunsets await you? Wouldn’t it be wonderful knowing that the calming sounds of gentle waves are a part of everyday life instead of a limited vacation? In fact, why not make life feel as though it is one big vacation? For those looking for the dream life, buying a home on the water is often the best single purchase that can be made to improve the overall quality of life.
Like any home purchase; it is essential to determine what your wants and needs are to make a highly educated decision. However, waterfront homes are not a typical, run-of-the-mill houses. Special additional factors must be taken into careful consideration to ensure the property suits your personality and lets you enjoy the activities you love. Here are a comprehensive list tips on how to buy the best waterfront home.Read More
Would Trump as President be Good for Miami Real Estate?
The Miami real estate market is an explosive one. It’s been an established market leader in America under stable and rising macroeconomic conditions. However, in unstable economic and political environments, the market has been known to crash quite hard. Now is a good time for us to take a look at how the upcoming election might affect the values of homes and condos in Miami. Donald Trump is a lightning rod of controversy, so we’ll dive into what might happen if he becomes the next president of the United States.
Whether you love him or hate him, as the current Republican frontrunner, it looks as though Donald Trump will likely secure the Republican nomination come July, allowing him to compete in the 2016 general election for President of the United States. America’s reception of Donald Trump as the next potential POTUS have been mixed at best. While Trump supporters see the nomination as one step closer to holding office, he would still have to face off against the Democratic nominee—in this case, either former First Lady and Secretary of State, Hillary Clinton or Vermont Senator Bernie Sanders.Read More
Why Floating Homes Are Perfect for Elon Musk
Floating homes offer a compelling future for cities around the world with an innovative flair that is very much in-line with what Elon Musk is doing with Tesla, Solar City and SpaceX. These communities have actually been in existence for centuries, but the sudden resurgence of interest makes it seem as though the concept is quite new and fresh. Living on Miami Beach, it’s hard to miss the fact that global warming poses a significant threat to the world. Most notably, we Miamians have been featured in the latest TED TALK by Al Gore. Out of all the places in the world mentioned as vulnerable cities to global warming, Miami was the number one city most at risk with $3.5 Trillion dollars worth of assets susceptible to destruction by 2070. That’s a sobering figure. The imagery of the TED Talk showed slides of the incredible flooding of Alton Road during our super moon high tides with fish from the ocean swimming in our streets.
With Miami Beach real estate residing in the danger zone, wouldn’t it make sense to explore some other types of development? While we are at it, wouldn’t it be a good idea to also think about sustainable, eco-friendly development so that we could halt any further degradation of our environment? Modern floating homes may turn out to be the smartest new type of real estate that we can build to ensure safety and longevity. With the unpredictability of hurricanes and rising sea levels, floating home communities are an enticing option to mitigate these strong environmental threats.Read More
South of Fifth Miami New Condo Update
The South of Fifth Miami Beach condo lifestyle is second to none. Simply put, the area is one of the most sought-after neighborhoods on Planet Earth. It’s a paradise for jetsetters due to the incredible vibe within the area. The posh and exquisite fine dining experiences of Prime 112, Cavalli and Joe’s Stone Crab are just steps away from the incredible nightclub Story, which is ranked as one of ten best clubs in the world. And the daylife options are just as good as the legendary nightlife. With the incredible aquamarine waters of the Atlantic a short walk away from any condo tower within the area, it’s no wonder why this neighborhood rules as the King of South Beach.
Real estate developers know quite well that any new South of Fifth Miami Beach condo development draws incredible demand from the public. In looking at the recent sales and construction progress within the area, it’s easy to see tremendous success. There are several new developments which will rival the Continuum South Beach and Apogee Miami Beach as the most expensive and exclusive luxury developments within these coveted blocks. Through this post, we’ll take a look at the progress and value of the new buildings within the neighborhood. It’s impressive.Read More