property management software: 4 Tips for Real Estate Investors and Landlords to Pick up Distressed Properties - 01/27/10 04:30 PM
1. Identify distressed properties.
2010 will continue to provide opportunities for picking up distressed properties. Over the next 3 years the commercial debt for acquisition of apartments is coming will be coming due and it will be difficult to refinance these properties in the new conservative lending environment. Owners who are able to add equity to the properties will be able to survive but others will have to walk away from their properties. This provides an opportunity to pick up some great properties at pennies. It is important to be continuously scanning the horizon to find valuable distressed properties and a … (5 comments)
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property management software: 5 Year End Tax Saving Strategies for 2009 - 12/31/09 04:00 PM
You can save on 2009 taxes by taking action before the end of the year. As always you should always consult with your accountant or tax consultant on how these tax strategies apply to your personal situation. Also the tax tail should never wag the business dog.
Be sure to take action on these tax strategies if they put more money in your pocket:
1. Buy a heavy SUV to haul your tools around and deduct up to $25,000 in depreciation expense. New and pre-owned "heavy" SUVs used over 50% for business qualify for a first-year Section 179 depreciation write-off of … (1 comments)
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property management software: A Generational Opportunity? - 11/27/09 01:56 PM
Commercial Real Estate Investments – Is it a Generational Opportunity?
Current good deals for real estate investors and landlords are deals that turned bad for previous investors and lenders that provided financing to the investors. Commercial property values have declined considerably and in some areas, as much as 40%, which has led some of the experts to suggest that the commercial real estate market has hit the bottom.
Other real estate industry members are predicting that the commercial real estate will not hit the bottom until 2011 or later and it would be risky to make any investments earlier than 2011. … (2 comments)
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property management software: 3 Tips for Purchasing Real Estate Investment Property in the Current Market - 10/29/09 06:20 PM
Foreclosures and REO’s are bringing many investors out of the woodwork - and some of the new investors who are novices are making many mistakes in selecting and purchasing of undervalued residential real estate.
RealtyTimes published an article that discusses a situation where a novice investor purchased a property and outsourced property management to a property manager. The property had lots of defects and improving the property to get it ready for rental proved expensive for this investor. The investor was blaming the property manager for the expenses.
Before becoming a Do-It-Yourself or absentee landlord, the 3 tips that investors should follow … (11 comments)
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property management software: Property Management Lessons From a New Landlord - 10/29/09 06:16 PM
BusinessWeek editor Chris Palmeri got his first residential rental property in March and faced the usual challenges of property management. Many real estate investors, especially the ones who own properties far away from where they live - do the smart thing and hire a property manager so that they sleep well at night.
Chris, a new do-it-yourself landlord, was anxious to rent his property quickly, and skipped tenant screening. Once landlords are burnt by a tenant, they never skip tenant screening! Read 5 tips for tenant screening in today’s market to make sure that you do not make this error. Luckily, … (7 comments)
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property management software: Is Your City in Builder’s List of Bottom Real Estate Markets? - 10/16/09 01:41 PM
According to Builder magazine the real estate markets that have been hit the hardest will take the most time to recover. They did a study of all the real estate markets in USA to determine which ones are the weakest. The real estate markets that appear on this list have had the most job losses, increasing foreclosures and falling home prices.
The real estate markets were ranked based on population trends and job growth, perennial drivers of housing demand. Builder magazine also examined the rate of home price declines. The other factors considered by the magazine included the rate of building … (2 comments)
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property management software: Is your city in Builder’s List of Top Real Estate Markets? - 10/13/09 05:20 PM
Builder magazine has just updated its list for the Top Real Estate Markets in USA.
Since the list was published in early 2009, the economy seems to be staggering to recover the federal government $8000 tax credit along with real estate investors have been picking up real estate properties at discounts. Even though many economists are suggesting that the recession has ended, unemployment is running very high.
The magazine reports that right now no market is really healthy but some of the real estate markets are doing better than others. So the markets which are on the top of the list … (5 comments)
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property management software: 4 Tips To Attract Tenants In High Vacancy Market - 10/12/09 06:10 PM
Vacancy rates have mushroomed to a 23 year high, close to 8%. As inventory of vacant residential rental properties is increasing, rents are dropping. Even then, savvy do-it-yourself landlords and property managers are still able to attract high quality tenants and keep their residential rental properties occupied.
Are you able to attract high quality tenants or is one of your tenants leaving soon? Here are steps to take to have high quality tenant line up to rent from you making your experience as a landlord or a property manager enjoyable and profitable.
1. Approach your property from the eyes of the … (3 comments)
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property management software: Is Your Home Making You Sick? - 10/12/09 05:37 PM
The National Center for Healthy Housing released a study using Census Bureau data that states that 1 in 3 homes in metro areas have problems that could result in illness for the resident. Landlords, Property Managers, and residents can easily prevent some of these conditions that result in unhealthy homes.
Unhealthy homes have significant impact on residents. Americans spend more than 90% of their time indoors. It increases their chance of getting sick due to the health hazard that may exist in the property. For example, since 1980 asthma has tripled amongst children and the major factor driving this increase is … (3 comments)
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property management software: 3 No Cost Tips To Keep Property Crime-Free - 10/12/09 04:55 PM
Due to high unemployment and the worst recession since the great depression, crime numbers have picked up across the nation. Landlords and property managers have a higher probability of crime occuring on their residential rental property. Obviously, any crime including vandalism will result in a negative impact on the value of the property.
The good news is that landlords and property managers can take steps to prevent and even stop crime on their properties. Again an ounce of prevention is better than pound of cure which can protect landlords and property managers from expensive lawsuits. The following tips can eliminate the … (11 comments)
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property management software: Time for a Much Needed Vacation! - 08/25/09 03:01 PM
I haven't blogged in a while, but now ends right now! I am so excited I can't contain myself! Why?
I am finally going on vacation!
Now I know what you are thinking, Summer is just about over, what is this guy on, right?
Well, to tell you a little more about myself - it's been a long time since I've taken a break for vacation (over 3 years, when my journey at TReXGlobal first began!).
As the Director of Community Relations for TReXGlobal.com, the maker of super cool Property Management Software - there are quite a few things that I … (2 comments)
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property management software: Largest Rise in New Home Sales in Eight Years - 07/27/09 11:53 AM
New U.S. home sales rose by the largest amount in more than eight years last month. The last time sales rose so dramatically was in December 2000. Is this a sign that the housing market is finally bouncing back from the worst downturn in decades?
Sales rose 11 percent in June to an adjusted annual rate of 384,000, from May's rate of 346,000.
There were 281,000 new homes for sale at the end of June, down more than 4 percent from May. At the current sales pace, that represents 8.8 months of supply — the lowest level since October 2007.
Here's … (4 comments)
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property management software: Dear Panda, I Need to Know the Truth - 07/03/09 12:37 PM
If you took the time to figure out what your clients really want, and then helped them get what they wanted without any commitment or obligation, you would have a lot more success with your business.
Ask a Panda.
Assuming you could talk to the Panda, the Panda would tell you I am correct. Here’s why:
Let’s say my friend, Bob the Panda, just moved into your neighborhood, and Bob the Panda is really cool… You very badly want Bob to be your friend because of the benefit that can come out of your relationship with him… For the … (6 comments)
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property management software: Investors Chomping through the Backlog - Keep Feeding Them! - 05/25/09 01:49 PM
The recent changes in mortgage rules are certainly helping investors get back in to the market. Fannie Mae had previously limited investors by allowing them to finance only up to four properties, regardless of whether they had money for a down payment, and perfect credit. Ever since March, the limit was increased from 4 to 10.
An article in FloridaToday describes how this has changed the real estate climate. Scott Bray, vice president of residential lending for AmeriBest Mortgage in Satellite Beach, said in the article that before the limit was raised, he would take one or two calls a week … (1 comments)
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property management software: Getting Real Estate Investors to Buy from You - 04/30/09 05:03 PM
Utilize your Network, and Get to Be Known!
Real estate investors know what they want, where they can get it, and they don't have much difficulty finding it. Very often, they will rely on their network and referrals to provide assistance when they are in need of help. Obviously, you want to be a part of this network that they will use – and so the million dollar question for today is, “How do you get there?”
You certainly won't make it very far if no one knows about your business, so the first step for any agent is getting to … (2 comments)
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property management software: 25 Minute Webinar this Friday - 04/22/09 03:29 PM
No one ever believes me about this webinar, and I don't blame them. I know it's the greatest thing since sliced bread, but convincing others is not such an easy task. So I'll leave it up to the pros!
… (0 comments)
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property management software: Real Estate Taxes - 04/15/09 01:17 PM
Last Minute Tax Tip - Real Estate Taxes
Taxes paid on property assessed by a local government or other taxing authority are deductible when paid.
Common fees include taxes paid to your city, county, or school district.
If you have a mortgage, usually the total amount is reported on your mortgage interest statement (IRS Form 1098). In addition to real estate taxes, the interest recipient may use box 5 to give you other information, like the address of the property that secures the debt, and insurance paid from escrow.
Real estate taxes get reported on Schedule E if … (0 comments)
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property management software: Why You Should HIRE FAMILY MEMBERS - 04/14/09 03:42 PM
Last Minute Tax Tip - Hire Family Members to Manage Your Properties
Property management fees are fully deductible, so consider hiring someone that you don't mind paying, like a family member.
Obviously, the expense of your own labor cannot be written off, but that doesn't mean your spouse or children have to work for free.
By hiring family members, it won't bother you to pay management fees because the expense is fully deductible, and the money stays within your family :)
Keep in mind you'll have to withhold Social Security and Medicare taxes for the income you pay.
AND … (17 comments)
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property management software: WALK AWAY FROM INVESTORS... and tell them to never come back - 04/14/09 02:07 PM
Investor Marketing Tip - WALK AWAY from investors
Click here for tips A-Z
Walk away from all your investor clients and prospects. Tell them you don’t need to do business with them. Your website can do it for you! Just don’t add anything of value to investors onto your website, and they'll never come back to you every 2.2 years. It’s as simple as that!
You can also get closer to all your investor clients and prospects. Tell them why they should do business with you. Your website can do it for you! Just add something of value to investors … (2 comments)
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property management software: Collecting in Advance - 04/13/09 03:27 PM
Last Minute Tax Tip - Collect Rent in Advance to Offset Loss Carryovers
One main benefit of owning rental property is being able report a loss, but some taxpayers cannot take advantage of this tax shelter due to high income loss limitations. Their losses get carried forward, and cannot get deducted until they are offset with future income.
If your rental expenses exceed rental income, and your AGI limitations do not allow you to claim a loss, you can decrease the loss carryover by increasing rental income. Since rental income is taxable in the year it is collected, rental losses … (0 comments)
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