Friday, December 31, 2010

Finding Money for your investment rental property purchases

The banks, despite receiving billions from the Fed continue to hold onto their money and not lend to investors. This requires some creative real estate investing ideas to circumvent the problems. Here are a few ideas for real estate investors:

Hope some of these financing ideas stir your creative juices.

Investment Property Capital Gains

Need to figure capital gains taxes for your investment property? Use this page on investment property capital gains to get an idea of how much to pay the IRS if you sell your rental property

Sunday, December 5, 2010

Fire! Why every renter and landlord need insurance

The first rental property that I purchased during my second attempt at being a landlord had a fire last week. The tenants had just moved in 5 days previously and had a fire in the fireplace. They went to sleep at 1:30 and the smoke alarms woke their kids at 4am. Luckily the previous tenants had moved and I had replaced the smoke alarms (the previous tenants had disabled them). The smoke detectors saved the lives of these tenants.

Unfortunately for the tenants they did not have renters insurance. However, I did have landlords insurance policy which covers loss of rental income. My policy also has a clause which requires the insurance company to cover any upgrades required to meet building codes. This is a lifesaver since my locality requires that any time a building permit is issued upgrades to older homes are required.

Thursday, December 2, 2010

Buying a House for Investment

How do you go about buying a house for rental property investment? Basically, it is the same process for buying a house that you might live in. However, you must know local rental incomes for houses and it is best to buy what many call a "starter" home. This makes it easy to use rent to own investing to ensure that you receive the highest rental income possible.

50 Tips for Investing in Rental property

I've compiled a list of over 50 tips for investing in rental property here. Many have links to more detailed explanation of what to do.