Archive for August, 2009

Speak with Other Landlords before getting involved

August 5th, 2009

Do you have an itch to become a landlord? Do you want to invest in real estate so you can make more money and enjoy a better lifestyle? It sounds like a great idea to become a landlord, but unless you know what you are getting into you don?t really know this for sure. It is very important to speak with other landlords before getting involved yourself. This will allow you to learn about the pros and cons of this type of lifestyle.

Where can I find a landlord who is willing to speak with me? The easiest place to search is online. There are many websites and forums at which landlords from all over the world correspond with one another. You can join in on the action as to learn from those with more experience. Of course, you can also ask specific questions to better understand if this career is right for you. Most landlords love to help others who are joining the industry.

There are some things you can only learn from experience. While you are sure to learn a lot after becoming a landlord, you don?t want to get involved if this is not the right move for you. Taking the time to speak with other landlords before getting involved is a big step. This will give you the knowledge needed to decide if moving forward is in your best interest.

How to not break your Remodeling Budget

August 4th, 2009

House with big windows
Any remodeling project, big or small, needs a budget. This is true no matter if you are doing it yourself or hiring a professional. Moving forward without a budget is a good way to get into financial trouble. Here are three ways to avoid breaking your budget:

1. For do-it-yourself projects add up all the costs of material before you buy anything. This will give you an idea of whether or not your project is on the right track. You may find that you have more money in your budget, or maybe that you are overdoing things and need to take it back a bit.

2. If hiring a professional you must receive a solid quote before moving forward. This is something that many people forget, and soon enough they regret it. If a contractor does not want to give you a firm quote you should move onto somebody else.

3. Be strong! The best way to stay on budget is to tell yourself ?no? when you get the urge to spend more. You know how much you can spend, but only you can hold yourself to this number.

If you want to stay on budget during your next remodeling project, follow the tips above.

Creative Commons License photo credit: pnwra

A New Way to Market Clean Spaces

August 4th, 2009

In today’s market, apartment property management can be a challenge; particularly with the glut of rentals and move-in specials, it can be difficult to make yours stand out from the many competing spaces.? An emerging niche marketing strategy is to advertise your rental as being ?low allergen? and all it takes is a few extra steps to make your units as allergen-free as possible.

While this might seem like a no-brainer for all properties, there are countless renters who are more sensitive to allergens and struggle to find places that make it a priority to keep allergens at a minimum in their spaces. Here are five easy things you can do to ensure your property is clean, safe, and marketable specifically to renters with allergies.

  1. Clean air ?good ventilation and non-leaking ductwork are the foundation of clean, fresh air circulating in your rental property. Make sure you have fans in all of the required areas like the kitchen and bathroom, and consider adding one in the laundry room (if there is one). Clean air means less stuffy, stagnant air, less allergens, and a healthier space.
  2. Leaks, high humidity, and other causes of mold ? mold can cause allergy symptoms in everyone regardless of how sensitive they are to allergens in general. Mold loves dark, damp spaces so check for leaks regularly, as well as monitoring areas around appliances like the water heater, bathrooms and kitchen fixtures and the like. The easiest way to avoid the damages and health risks of mold is a watchful eye and regular maintenance.
  3. Provide information ? whether your potential renter is more sensitive to allergens or not, it is always smart to provide information about allergens, mold and other causes of health-related issues to your tenants. Include it as part of your move-in packet, or even make it part of the lease. This will ensure your renter is aware of both your active concern in his or her well-being, as well as your involvement in keeping the space as allergen-free as possible.
  4. Choose your plants wisely ? when landscaping, choose plants that have low pollen or allergenic contaminants like Astilbe, Impatiens, Hosta, Scabiosa, Columbine, Viola, Dogwood Trees, Double-Flowered Cherry Trees, and Magnolias.
  5. Go the extra mile ? whether by leaving a basket of cleaning supplies in the unit as a welcome gift, or keeping an air purifier in the space as part of the amenities, these little additions will show renters you really care about keeping the space as healthy and clean for them as they do.

And don?t forget to include these in your rental listings when you post! Even if your tenant ends up not having allergies, they will appreciate the extra steps you?ve taken to make the space as clean and safe as possible.

The World’s Tallest Dams

August 3rd, 2009

Water. It is one of the most powerful forces on earth, and dams are what we use to harness it… at least temporarily. Water, besides being the foundation for all life on this planet, is also heavily erosive. Every dam ever built will ultimately fall if it is not maintained. And while the argument may go on forever as to whether the benefits of dams outweigh their drawbacks, they are without doubt some of the most awe-inspiring structures known to man. Below are just a few of the largest and also some of the tallest dams ever constructed.

Three Gorges

Three Gorges Dam

Three Gorges Dam

Let’s start off with a big one, literally. The Three Gorges Dam in Sandouping, Yichang, Hubei, China is the largest dam and also the largest hydroelectric power station in the world. It spans the Yangtze river. Although structurally complete, the dam is still being brought online, with additional generators currently being installed. Once completed, its thirty-two main generators will reach a full capacity of 22,500 MW. The dam has also been the site of much controversy. By the time of its completion, approximately 1.24 million people were displaced, because of its construction. The dam also flooded numerous cultural and archeological sites, and contributed to the functional extinction of the Yangtze river dolphin, the Baiji. By volume of material, the Three Gorges Dam measures in at 39,300,000,000 cubic meters.
Image via CC bonnie

Verzasca Dam

Verzasca Dam
Creative Commons License photo credit: MuntyPix

This is not one of the largest dams in the world, nor is it even one of the tallest (it ranks in at 25th). Yet it is still, without a doubt, one of the best known. This elegant looking dam can be found in Val Verzasca, Switzerland. So why is it so well known?? This is the bridge James Bond dove off of in the film (and video game) “GoldenEye“. Today, all one needs is a few euros to take a bungee jump off of the bridge themselves. The premiere of the 14th season of “The Amazing Race” featured the contestants diving off this bridge.

Hoover Dam

Hoover Dam and the Hydroelectric Power Plant
Creative Commons License photo credit: Alex E. Proimos

Arguably the most well known dam in the United States. As with the Verzasca, this dam is also not the biggest nor the tallest. However, when it was first completed in 1936, the Hoover dam was the world’s largest concrete structure, as well as the world’s largest hydroelectric generating station. While keeping in mind that there are now significantly larger dams in the world, if the concrete used to build the Hoover dam were used to create a two lane highway instead, the highway would have reached from New York all the way to San Francisco. Today, the concrete is still curing and therefore growing stronger with each passing year. The dam, obviously named after Herbert Hoover, provides a substantial amount of electricity to many areas of the southwest United States. Recently it was featured in the first Transformers movie.

Nurek Dam

Nurek Dam image via wikipedia

Nurek Dam image via wikipedia

Located in the country of Tajikistan, this earth fill dam is built across the Vakhsh River. So why is it on this list?? At 300 meters it is currently the tallest dam in the world. The dam was completed in 1980 when Tajikistan was still a part of the Soviet Union. The dam took nineteen years to complete. The dam consists of a concrete core surrounded by rock and earth. As with many dams, this one also generates hydroelectric power.

Rogun Dam

Rogun Dam Site via Google Earth

Rogun Dam Site via Google Earth

The Rogun is an unfinished neighbor of the Nurek. It began construction in 1976, but the project was eventually put in stasis. It’s currently on this list, because if it is ever finished, it could potentially become the tallest dam in the world. The dam’s projected height was 335 meters. As of now, less than 60 meters are all that remain after it was abandoned. However, in early 2007, Russia and Tajikistan announced they would be partnering up to complete the dam. Currently, there are two plans on the table. One has the dam reaching only 280 to 300 meters high, while the other features the original 335 meter potential height. Which one will they choose?? We’ll just have to wait and see.

Oroville Dam

Oroville_dam

image via wikipedia

At 235 meters high, this is the tallest dam in the United States. It is located above the city of Oroville in Butte County, California. The dam was completed in 1968 after seven years of construction. The dam was designed with a multitude of purposes in mind including providing a water supply for both drinking and irrigation, flood control, power generation, and creating a better environment for fish and wildlife.

Syncrude Tailings

800px-Syncrude_mildred_lake_plant
Image via wikipedia

Coming in at 540,000,000 cubic meters by volume of material, the Syncrude Tailings Dam is the second largest in the world. It is located near Fort McMurray, Alberta, Canada. The dam is a barrage dam, built for the purpose of storing tailings left over by the ongoing extractions of oil from the Athabasca Oil Sands. The dam was built between the years 1973 and 1978. It officially began operation, along with the mining effort on September 15th, 1978. Hypothetically, the dam could eventually supercede Three Gorges as the dam will continue to increase in size as long as the mining operations continue. It does however have a long, long way to go, so it is considerably unlikely this will ever happen.

New Cornelia Tailings

New Cornelia Mine image via wikipedia
New Cornelia Mine image via wikipedia

At 210,000,000 cubic meters, this dam is less than half the size of the Syncrude Tailings dam, but it is still the largest dam in the United States. As with other tailings dams, this dam was created to store the tailing created by a mine. In this case, the mine in question is the New Cornelia Mine. This mine has been inactive since 1983, but there has been talk of beginning a project to mine the tailings themselves.

Dams are without a doubt modern monoliths and a testament to the capability of mankind’s engineering prowess. And as with anything that exists in the realm of extremes, dams can either create a lot of good or much harm depending on how and where they are built. Responsibility is key when creating these massive structures.

Property Management and Time Management: You need both

August 3rd, 2009

When it comes to managing real estate you need to know a lot. One thing you don?t want to overlook, no matter how boring it may sound, is time management. If you are not careful with your time you may end up failing as a real estate investor. And that is not what you want.

Are you managing your properties full-time or just on the side? Either way, you are putting in a lot of time. That being said, a full-time property manager does have more hours to devote to their job. Those who do this part-time must also worry about their full-time career. But no matter what, if you develop the right time management skills you can work this into your schedule.

The way you manage your time is very important. Above all else, you must prioritize. It is essential to know what is most important, and then take care of these tasks before you do anything else. For example, it is more important to fix a leaking pipe than it is to pull weeds in the backyard. You only have so much available time, so make sure you are spending it wisely.

Property management and time management should go together hand in hand. If you are going to successfully manage real estate you need to know how to make the most of your time.