The buying process is probably the most challenging and stressful step in real estate investing, especially for beginners. Follow the steps below to make your property purchase go as smoothly and profitably as possible. 1. Make an Offer The asking price is the price at which the seller has listed Read more…
There are six main types of properties to consider when investing in real estate: Single-family homes Multi-family homes Apartments Condos and co-ops Commercial property Raw land Each type of property presents a unique set of features and responsibilities—from financial to personal—that the following sections explain. Single-family Homes Single-family homes are Read more…
Ordinarily, when you sell property for a profit and receive cash, the taxman is there to take his cut. A 1031 tax-deferred exchange on investment property allows you to roll over the gain from the sale of one investment property into another investment property without being taxed. (Note that this Read more…
Take things into your own hands to ensure the successful sale of your property. Market, market, market! Here are some ideas for getting your property the attention it deserves. Steps: Make a list of all the special features of your property. These might be something your home has, such as Read more…
After managing your investment property successfully for several years, the time will probably come to sell the property. To make a swift and profitable sale, you’ll need to assess the local real estate market, attract buyers, and consider the tax ramifications of selling. Setting a Price for Your Property Setting Read more…
Even if you hire a property manager to oversee your properties, you still need to know the basics of rental property management in order to hire a competent manager. Property Management Skills It’s important that you or your manager have sufficient: People skills: Dealing with tenants, neighbors, repair workers, and Read more…