Archive for January, 2010
The first thing most people think about when they hear the phrase ?investment properties? is money. In other words, they are buying this type of real estate so they can profit either now or in the future. While there is nothing wrong with this, keep in mind that getting involved with investment properties should also be a lot of fun. If you can combine fun and profitability it is safe to say that you will feel good about your investment.
What is fun about investing in real estate? For some, the fun part of investing is when they see how much money they are making. This is what drives them, day after day. While you don?t want to hang your hat on this, it is definitely something to consider.
Some investors find it fun to buy homes, fix them up, and see their hard work payoff in the end. Is this something that excites you? Even if you are just learning, it can be fun to get involved in this manner.
A business venture is always more satisfying when you are having fun. This does not mean that every last detail of investing in real estate will be exciting, but you will find that keeping a smile on your face will make the experience much more enjoyable.
If you and your non marital partner have decided to go your separate ways there are a lot of issues to consider, the good news is that it should be easier because you are not legally bound by marriage.
If you own property together there are several different ways in which that can be divided. If only one of you has their name on the deed or title then the property is legally theirs, but the other party may have some legal right to it as they have probably contributed to the expenses of maintenance and any upgrades. These disputes can be handled in a court, through arbitration or through your own agreements if you can amicably come to an agreement.
If the two of you owned the property together then it can get more complicated. You can just come to an agreement on your own between the two of you and one can file a quit claim deed which gives the other entire possession of the real estate. But if it’s not that easy then you may need to again see arbitration or a legal judgment that will determine how to divide the property. If both sides have a considerable amount invested in real estate it’s not uncommon to have to sell the property so both parties get their fair share.? photo credit:?alancleaver_2000
Most property managers find their job to be easier and more enjoyable when the weather is warm and the grounds are clear. Unfortunately for them, there are parts of the world where the winter months get cold, snowy, and icy. Here are three property management tips for the cold winter months:
1. Furnace check and prep. Before the first cold night arrives, make sure the furnace is working properly in each of your properties. It is better to find out about a problem before winter hits than to have your tenant make you aware once it arrives.
2. Snow removal. Do you have properties in areas where it snows in the winter? If so, you need to realize that snow removal is very important. All common areas should be kept clear. Tip: you may be able to ?hire? a tenant to take care of this for you.
3. Watch the ice. The last thing you need is a tenant slipping on your property because of an icy buildup. If this happens they may attempt to bring forth a lawsuit. Just as you need to remove snow, you should deal with any ice at the same time. Buy yourself a few bags of salt before winter hits and you should be set.
During the cold winter months keep the above tips in mind!