Archive for July, 2009

Cheap Ways to Tastefully Decorate an Investment Property

July 7th, 2009

Black tulips
When it comes to decorating an investment property you do not want to go overboard. Remember, it is your goal to make the property look good inside and out without spending too much money. The one exception to this rule may be if you are flipping a property and want to draw a high end buyer.

Here are three ways to tastefully decorate an investment property without breaking the bank:

1. Laminate flooring. Why opt for expensive ceramic tile and/or hardwood flooring when you can rely on laminate instead? Not only is laminate flooring inexpensive, but it also looks great and is quite durable.

2. Fresh paint. So many investors look at the big details and forget just how much a fresh coat of paint can help a home. If you paint every room in your investment property a neutral color you will be sure to increase its value and appeal.

3. Mulch. The outside of your investment property needs to look good as well. You should choose options, such as mulch, that are cheap, visually appealing, and long lasting. A few bags of mulch can do wonders for your yard.?

These are three of the best ways to decorate an investment property without spending too much money. As long as your upgrades look good and attract tenants you have done your job.

Creative Commons License photo credit: MandCo

Criminal Acts on your Property

July 6th, 2009

Landlords are being held responsible for everything from injuries due to negligence on their part to drug dealing activities performed by their tenants. In this climate it’s very important for a landlord to take as many precautions as possible to protect themselves, their tenants and the public from their tenants.

Your first step is familiarizing yourself with the all local and state laws that apply to your property and then make sure you have complied with everything. Your first responsibility is protecting your tenants.

If you have tenants who are dealing drugs you can actually face a number of problems from fellow tenants being annoyed to injury cases where the government seizes your property. To protect yourself you should carefully screen tenants before renting to try to avoid this sort of person in the first place. But if you end up with a bad tenants don’t accept their behavior, use the signed lease against them and as they cause interruptions document it and evict them promptly.

Be available to your tenants and hear them when they report problems, whether it’s a disruptive neighbor or a small repair that could cause an injury. Your prompt and specific action could save you from legal action.

Is your Investment Property in Danger of Foreclosure?

July 3rd, 2009

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.

Jules Undersea Lodge

July 2nd, 2009

bedroom1Have 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.

Home on the Farm

July 1st, 2009

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.