Just like the home you live in, if you own an investment property you need to pay the mortgage on time every month. Your lender is not going to be anymore forgiving just because you are not living in the home. If your find that your investment property is in danger of foreclosure you need to think long and hard about what you are going to do next. Of course, you don?t want to think too long because it is important to move forward before things get too far out of control.

It goes without saying that it is better to lose your investment property to foreclosure than your primary residence. That being said, this will not make your current situation any easier to deal with. You need to talk with your lender right away. Hiding is not going to do you any good. Instead, get an idea of where you stand, how far behind you are, and what the lender plans on doing. There is a very good chance that you will be able to work something out if you are open to your lender?s ideas.

An investment property is meant to make you money. If foreclosure is on the horizon something is wrong somewhere. It is your responsibility to pay your mortgage on time. If you feel that foreclosure is only a matter of time you need to communicate with your lender to see if you can save your investment property. You should do whatever you can to avoid foreclosure. Not only would this mean losing your investment, but it would also ruin your credit.

Popularity: 1% [?]

Have you slept undersea lately? is the hotel motto at Jules’ Undersea Lodge. Jules’ once served as an undersea research facility, and in fact it still does, but now it’s opened its accommodations to paying guests and become a hotel of sorts.

Located in Key Largo, Florida, the lodge is the only one of its kind in the world and actually requires a scuba dive 21 feet below the sea’s surface for admittance. The small surroundings feature hot showers, a stocked kitchen, books, music and videos but the main attraction is the huge window which looks out at the sea as the fish come around to check out the new inhabitants. And the number of fish is actually very impressive as the surrounding mangrove lagoon is a natural habitat for them, but the Jules’ Undersea Lodge also serves as an artificial reef.

For those who feel a little worried about the accommodations, rest assured the structure is monitored 24 hours a day and has independent support systems as well as redundant backup systems. And if you’ve never gone scuba diving before, the three hour aquatics class will get you up to speed so you can easily and confidently make the dive to the hotel.

Popularity: 1% [?]

Some people dream of farm living but usually that dream comes with a quaint farmhouse, for Glen and Sandy Wells of Kentucky the farmhouse is optional because they prefer to live in the silo.

The 70 foot tall steel storage tank could hold enough grain for 3000 hogs in its heyday but now it serves as six story home. Each floor is a 20 foot circular room that serves a particular function. The first floor serves as a kitchen with custom made oak cabinets, the second floor is a luxurious bathroom, the third floor serves as a game room of sorts and the fourth floor is a guest room. On the fifth floor is the couple’s bedroom, complete with incredible views of the farmland around. And finally the sixth floor serves as a storage area of sorts. They do hope to one day cap the silo with a deck so they can take advantage of the incredible vista surrounding them.

In addition to the silo space, the Wells family took advantage of the stone building that was attached to the silo, it has been converted into a family room with big screen television, pin ball machine, billiard table, juke box, chess table and fireplace. Everything a modern homeowner could want.

Popularity: 1% [?]

When buying a rental property you are sure to be thinking about all the money you can earn. But what happens if your rental property turns into a money pit? Unfortunately, this happens way too often. If you find yourself in this situation you need to consider all your options.

What can you do to stop the bleeding? Are there any major problems that need to be addressed? It is very important to know what you are up against. You may think that the repairs will cost a lot, but until you tally them up you never know for sure. If you are lucky you may be able to fix your rental property once and for all so it can eventually make you the money you were dreaming of.

What about selling? This is an idea, but you may lose money if you do so too soon. Remember, all of the problems you are having will be seen by potential buyers. This may scare them away, or cause them to throw ?low ball? offers your way. There is nothing wrong with selling, but you need to think long and hard about doing so if you are going to take a big loss.

A rental property money pit can sour you on this industry forever. Be careful about what you buy. A smart investor can avoid properties that are going to suck them dry. If you do get stuck with this type of property you should consider all your options including making the necessary repairs and selling.

photo credit: Living in Monrovia

Popularity: 1% [?]

If you’re interested in finding a unique home or a second home, there’s an interesting property for sale in Portland, Oregon. But one would assume that this particular home could be moved to just about anywhere as it’s inside a railcar.

In 1949 this train car was created to be a sleeper car but after it served its purpose it was purchase and renovated by Marc Riera. The 85 foot long car has only 807 square feet but the 10 foot ceilings make it seem roomier. Even though it’s rather small the interior is very modern and features stainless steel windows, grid connection, incinerator powered toilet and DSL.

Currently the home is located in Portland on a private lot but it still could be pulled along any existing rail line to be relocated. The lot it resides on now rents for only $150 a month. The biggest bonus of this home is its not technically real estate so there are no property taxes attached.

For a small space the price ticket is a little high, it’s currently for sale $225,000. But you will be saving in property taxes and you’ll be doing your part to save the environment with a very ingenious form of recycling. And imagine the wow factor when you show your friends.

Popularity: 1% [?]

Living in an RV, or recreational vehicle, isn’t the typical solution when it comes to inexpensive living but it does have its advantages and could be the solution for you. RV’s run the gamut in expense so you’ll need to decide your price range before you begin and like automobiles, they depreciate drastically the minute you take them off the lot so you may want to think about purchasing a slightly used RV.? The upside here is the interest is tax deductible.

You’ll need to find a campground that offers year round amenities and then check out what the rent will be for the space including utilities and water.

One of the great benefits of living in an RV is the people you’ll meet. Some will be long term residents like you but others will be travelers coming from all over the country, it’s a remarkable opportunity to learn more about the world around you and the people in it.

And one of the best parts about living in an RV is you’re packed and ready to go for any vacation. No matter where you go you’ll always have everything you need without the worries of what you left behind. Not to mention all you’ll save on expensive hotels and overpriced restaurants.

photo credit: dave_7

Popularity: 1% [?]

The number of bathrooms in your home has a lot to do with its value. Generally speaking, more bathrooms are better. If you are interested in adding a bathroom you should be aware of what goes into the process. Yes, it is a great idea and you will add value to your home. But at the same time you need to realize that this is a big undertaking.

The first thing to consider is space. Where are you going to add your new bathroom? Since every home is different there is more than one answer to this question. You may have the space to add a bathroom on the first or second floor of your home. Or maybe the only place for this is in your basement. If you are interested in adding a bathroom the first thing you must do is determine where it will be located.

Now that you know where you want to add your bathroom you have to think about how much work will go into adding plumbing. If your new bathroom will be on the other side of the wall from an existing one, things will be much easier on you and anybody you hire. Your plumber should be able to gain access to the existing pipes and use them in your new space. The placement of the pipes in your home may determine where you can and cannot add a bathroom.

What you include in your new bathroom is up to you. Do you just want a sink and toilet? Do you want to add a shower as well? A lot of these questions will be answered once you decide on a space, and of course, when you set a budget for the project.

When you add a bathroom you are adding value. Just make sure you are ready for a big job.

Popularity: 2% [?]

As a property manager you should be thinking about which repairs you can complete on your own. Remember, do-it-yourself repairs can save you a lot of money. A professional will charge you quite a bit for both parts and labor. This doesn?t mean that you should handle every repair on your own, but you can definitely look into this from time to time.

Believe it or not, do-it-yourself repairs can do more than save you money. They can also be a lot of fun. There is something exciting about using your own two hands to make a repair. Of course, you need to know what you can do and what you should outsource to professionals. It is one thing to fix and paint a few walls, but another entirely to install a new furnace. How much knowledge do you have of the home repair industry?

As you learn more you will find that do-it-yourself repairs are becoming more and more fun. Who knows, you may even want to enhance your skills to the point that you can handle pretty much anything that comes along, including big jobs.

All in all, do-it-yourself repairs can be fun while also helping you save money. If you are a homeowner or landlord you should definitely learn as much as you can about making your own repairs and upgrades.

Popularity: 1% [?]

There is nothing worse in a home than a dirty, dingy bathroom. Who wants to get clean in a space that is so unappealing? Fortunately, your bathroom doesn?t have to be the downfall of your home any longer. You can make some basic changes that will have your bathroom looking better in no time at all.

One of the simplest upgrade that is sure to work is adding a fresh coat of paint. No matter what color your walls are, you can change this in a couple of hours and some hard work. All you have to do is apply a quality primer, wait for it to dry, and then roll on your new color. Don?t forget to add a fresh coat to the ceiling as well.

While fresh paint is important, there are probably other areas of your bathroom that you want to change as well. Before you think about big changes, first consider if minor upgrades will do the job. Why change out your entire vanity when you can buy a new faucet and hardware??

It is often times the smallest changes that can turn a dingy bathroom into a spa-like oasis. These minor changes will not only make your bathroom look better, but will also allow you to keep more money in your budget for other repairs throughout your property.

A dingy bathroom has no place in your home. If you are tired of this, consider making the proper upgrades today.

Popularity: 1% [?]

Living on a boat may seem like a dream to you but it’s actually quite possible. The biggest concern is probably the boat and the location. Boats are generally considered a luxury but they don’t need to be outrageously expensive, look for a good used boat or a fixer upper to save money. If you’re single or a couple you can probably get by with a 40 foot boat on the low end. If you have children you’ll want to add another 10 feet at least.

Then examine the locations that work for you. Marina’s vary in size depending upon the size of your boat, the location of the marina and the amenities offered. You’ll also have to look for a marina that accepts liveaboards. Not all of them are set up for full-time residents while some of them cater to that type of lifestyle. Make sure you check with your state regulations as some do have rules regarding this type of housing.

The best part about living on a houseboat is you can pick up and go whenever you wish. If you’re interested in a little day’s cruise you can pick up your anchor and go. If you’re considering becoming a snow bird and traveling south for the winter or north for the summer it’s as easy as setting your course and taking to the sea.

photo credit: shahbasharat

Popularity: 1% [?]