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Archives for December 2018

8 Tips To Becoming A Successful Landlord

December 31, 2018 by Marco Santarelli

How To Become A LandlordHow To Become A Landlord

The ultimate goal of investing in rental property is to turn a profit.  To ensure that you achieve that goal it is essential that you follow several critical guidelines. Most of us dream of becoming a landlord but it an easy or a difficult job? Before you start searching for a home to rent, you should think about the responsibility that comes with being a landlord to your tenants. If you’re interested in investing in real estate, the single-family rental market might be a good option. Being a landlord can be a profitable venture that provides a steady income stream while your property appreciates in value. You might also be able to enjoy certain tax advantages while you build equity in the home.

Here are 8 valuable tips for becoming a successful landlord and start a rental property business.

1. Screen Your Tenants

First, always make sure that you check tenant references. This is the first step of becoming a successful landlord. This can be a burdensome step and many landlords overlook it because they feel as though they have good instinct when they meet with the tenant.  But not checking references can lead to a number of problems later on.  You will uncover a wealth of information about potential problems before you rent to a prospective tenant. It’s also worth the time to do a background and credit check on all potential tenants. There are several online tenant-screening services available, and you should be sure to check potential tenants’ credit scores. You should also conduct an interview to make sure you’re comfortable interacting with them, and check references, especially from employers or past landlords.

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Filed Under: Property Management, Real Estate Investing Tagged With: Investment Properties, Investment Property, Real Estate Investing, Real Estate Investment

3 Business Structure Mistakes Real Estate Investors Make

December 24, 2018 by Marco Santarelli

Real Estate Investment LLCStarting A Real Estate Investment LLC

Why have an LLC?

There are mainly two reasons why you want any kind of business structure:

Pay less tax, and protect your assets. LLCs can be especially helpful if there are multiple owners of a property. When you create an LLC, you’ll create an operating agreement that outlines the rights and responsibilities of each member of the LLC.

This can help you seamlessly manage your rental property business and also protect each member of the LLC in case of legal trouble.

Before you jump into creating your LLCs for your real estate holdings, there are a few things to consider.  Do NOT make these three mistakes while creating an LLC for your real estate investment company.

[Read more…]

Filed Under: Asset Protection, Getting Started, Real Estate Investing, Taxes

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