Real estate investing is one of the best ways to make money; there is no doubt about that. It is a low-risk investment strategy with a high potential for profit in both the short term and the long run.
Do you own a condo or plan to buy one soon? You’ve got to deal with HOA and their monthly or annual fees that they want you to pay for their services. But first, let’s do a small research and see who are these people and why you should pay them those fees.
Real estate is considered passive income, but for many owners and investors, maintaining cashflow feels far from “passive”. In an ideal world, landlords wouldn’t have to participate in the everyday operations of maintaining a rental property in order to generate ROI. But in the real world, they have a lot on their plates. To make […]
Once you sell your investment property, you need to pay taxes on any gains. That is true unless you utilize a 1031 exchange. Besides the common tax deduction methods, this is a precious tax deferral strategy that enables an investor to sell a business or investment property and replace it with another property without any […]
Rendering a habitable living space is the primary responsibility of the landlord. State and municipal regulations may differ on the points of what that means. However, in every state, it’s explicit that landlords have to provide a warm and sanitary place. It needs to have a toilet, shower or tub, wash basin and a kitchen […]
Being a landlord is not an easy business. If you thought that you can invest in this asset class and receive passive you are wrong. Renting out require sophisticated management that is strictly regulated by various federal, state, and municipal laws. Management of residential property is full of risks and liabilities. The lawsuits are a […]
It is crucial for the landlord to understand the costs you are allowed to deduct on your taxes. You need to take advantage of every possible tax deduction to reduce your tax burden and maximize your profit. Some of the expenses might seem intuitive, while others unstated and you need to understand the specific prerequisites […]
There is a profound difference between the amateur landlord and the professional landlord. Inexperienced landlord treats the rental as a side-kick, a source of passive income almost like stocks. In contrast, the professional landlord acknowledges that renting out is a business, a full-scale industry with its own rules. The essential quality of every successful business […]
Fair Housing Amendments Act and the Fair Housing Act forbid landlords to select tenants based on the following characteristics: Mental or Physical Disability Sex Race Familial status, including having children or being pregnant Ethnicity Color Religion Moreover, certain state and local jurisdictions outlaw discrimination based on marital status, age or sexual orientation. The best strategy […]
Rental property is a shared responsibility of the tenant and landlord. Maintaining a clean, secure, and comfortable rental property takes two people. That is why it is essential from start to articulate the duties and responsibilities of each party. It is the legal responsibility of the landlord to render the livable and safe residence; it […]