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Does your Houston rental have a mold problem? Click here
One of the worst problems that every landlord faces is when they find out that their rental property has a mold problem. Some unscrupulous landlords may try to paint over the mold and pretend it doesn’t exist. This is never a good idea because, the mold will only come back and could do much worse damage to the rental property than you really know. What’s the solution to the problem? Learn how to diagnose mold in your rental property and find out how to eliminate this problem. Mold Warning Signs Mold does have a strange “pungent” smell especially when it’s confined to one or more areas of your home. Mold…
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Enjoy The Tax Benefits Of Renting Your Home During Special Events
Are you planning on going on vacation this year? If so, you might want to wait to go on vacation during an annual event in the Houston area. You may be able to rent your home for more money while a special event is in progress like Comicpalooza because more people will be in town during the week of that event and willing to pay higher rental rates. Could Be Tax Free Income Homeowners go on vacation and make tax-free income while temporary tenants rent their home. Homeowners can benefit from a little known provision in the tax code that does not require taxpayers to recognize the income derived…
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Property Management Tips – Is It A Bad Thing To Own Too Many Rentals?
Are you thinking about buying rentals to add to your portfolio and are wondering if it can be a bad thing to own too many? The answer to this question is both yes and no. Yes, it can be a bad thing to own too many rental properties unless you hire a professional property management company to manage those rentals for you, while combining it with ERP (enterprise resource planning) software from a company like Salesforce, owning many more properties and managing your property business can be a lot easier than you first imagined. If you’ve been “on the fence” debating if you should hire a property management company or…
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How are renters finding your rental property?
How are prospective tenants or renters finding your rental property? Are they searching offline, online or a combination of both? If prospective tenants and renters are finding your property online that’s awesome but are you getting the most ROI from your online advertising results? Before moving forward with advertising another property online take the time to review your online marketing plan and make sure you’re using the following websites and resources. Har.com Over the last 5 years www.har.com has quickly developed into the best resource for renters to find great homes and properties for rent across the Houston area and it’s also a great website for property owners to get the…
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Other People’s Money – Learn more about how this Real Estate investing principle works
Consider the goal of funding a child’s college education in the future. If “other people’s money” in the form of a scholarship is not a possibility, there still may be another way to use some “other people’s money.” The Power Of Other People’s Money A $25,000 investment into a mutual fund paying 5% would earn $1,250 in the first year. Alternatively, the $25,000 as a 20% down payment to purchase a $125,000 rental home appreciating 3% a year would have gone up by $3,750 or three times that of the mutual fund in the first year. The mutual fund’s growth depends on the value of the money invested. Rental real…
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Planning for retirement? Why not buy an investment property?
Is your retirement around the corner and you’re searching for income producing investments to add to your portfolio? If so, why not add rental properties to your portfolio? There’s never been a better time than right now to invest in Real Estate especially since more people continue to move to Texas every day and as an investor you will be able to capitalize on the demand for rental properties by investing in Real Estate. If you want to buy and sell notes, there are many places where you can get your start in Real Estate. Tips For Investing In Rental Properties Gather as much information as you can. Talk to…
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Tenant Screening – Changes You Need To Know
There’s no doubt that tenant screening can be one of the most complicated aspects of owning rental properties because you have to follow the requirements of the Fair Housing Act and not offend anyone. In 2017 tenant screening has gotten a little more complicated for owners thanks to recent policy updates from the Department of Housing And Urban Development. HUD rolled out a 10-page policy update last year advising all landlords and property managers that using criminal history for the purpose of tenant screening may actually be discriminatory. HUD notes that nearly one-third of the U.S. population (or 100 million U.S. adults) have a criminal record of some sort, and…
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Are turnkey rental properties a smart investment for you to make?
On television, turnkey rental properties are highly touted because, many people like the idea of purchasing a rental property without having to do any work to get it ready for rent but the BIG question is are these rental properties a smart investment to make? About Turnkey Rental Properties When we use the term “turnkey rental properties,” we are referring to the loosely defined investment strategy of buying, rehabbing, and managing a property through a third party. The process of working with a turnkey real estate provider typically looks something like this: Finding a property: Based on your personal investment goals, the company will help you to identify and build…
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New 1099 deadline change to impact businesses
Every year, tax season brings a variety of changes, from forms to regulations—and this year is no exception. Beginning in 2017 (for the 2016 reporting year), many important deadlines will change. Filers will be required to send 1099-MISC recipient copies and submit the forms to the IRS by January 31, 2017, regardless of method (paper or e-file). This significant change to the deadline, which was previously February 28 for paper and March 31 for e-file, will undoubtedly dial up workloads and stress levels for companies. To further complicate matters, the new filing deadline, as it relates to Form 1099-MISC, only impacts filers reporting non-employee compensation payments in Box 7. Although…
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Houston Rental Property – Maintenance Checklist
Fall is a great time of year because the holidays are around the corner and you may be enjoying more time with family but if you own Houston Rental Property it’s also a great time to take a step back and focus on maintenance, especially if you haven’t set foot in your rental properties within 6 months because focusing on maintenance now will help you to avoid problems later. Maintenance Checklist Paint common areas every five to seven years. Or, DiNatale says, “When they start to look worn and paint starts to chip or wear off, or has an uneven sheen, it’s time.” Re-carpet hallways and other shared spaces every five…
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