Archive for September, 2011

Are they on the DL – Down low?

Wednesday, September 28th, 2011

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1105

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1132

As a real estate investor, you’ll discover working with buyers or other investors can become a challenging and exciting experience. One of the problems is that people aren’t always on the DL or down low. They hold back important information about their needs, resources, or facilities to make themselves look better than they really are.  As a businessman, you need to convince them that all of the facts upfront make problem solving easier. Not having it can create huge craters to overcome. Buyer Signals

A wise real estate investor will be able to hear the words that buyers are saying and translate them into real estate financial speak. If a buyer only wants to see lease-to-own properties  or owner-financed ones, chances are sometimes sending they don’t qualify for a regular home loan, have credit problems, or cannot come up with a down payment and closing costs. The good news is there are a number of financing opportunities available that cover just about every financial situation. Knowing ahead of time can help you steer the buyers into the right financing avenue.

Some buyers are just nice and don’t want to say bad things. Then, there are buyers that have vague negative opinions about everything. When they can’t tell you something that they really like or really want, this is an indicator that they are not ready to buy a property. Good, open-ended questions can help you get a better feel for their needs and wants. It will also help you determine if they think they won’t be able to finance a property. If that is  the real problem, you can show them their options.

Seller Signals

As a real estate investor, you are going to work with lots of sellers in differing financial positions. As you get to know and build trust with people, they will begin t disclose more information to you. Sellers that are meeting you for the first time are going to be hesitant about telling their problems to you. This can be disastrous, especially if the house is facing foreclosure or other actions by the state or court.

Most people don’t know liens must be paid in full at closing or that special papers must be filed if a home is facing foreclosure. Title companies or your local court house can help you figure out if there is a problem with the property title before you visit with the seller. Talking about these facts will usually get sellers to open up. This will help you help them better.

The most important thing to remember is to listen with an open mind. It will help you and the people you work with to make better real estate business decisions. For more information on the real estate investment business or real estate franchises, visit us at homevestors.com.

Real Estate Investors Look Out!

Tuesday, September 27th, 2011

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1105

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1132

Traditionally, a real estate investor buys a real estate investment property, fixes it up, and either sells it or rents it to recoup their money. When the property does not sell quickly, it would normally be refinanced to help cover the normal bills until it sells.

There are guidelines for banks and loan officers now that may through a wrench into these “traditional” plans. An investment property must be off the market for 6 months or more before it is eligible for refinancing, including rate or term refinancing.

Keep Your Options Open

Under these guidelines, real estate investors would be wise to weigh all of their options before trying to sell their property. If the market is bad in the area for sales but there is a need for rental housing, it would be a better idea to rent the house or try owner financing arrangements like a lease-to-buy instead of listing the home for sale. This will bring in a cash flow to work with while you wait for the housing market to improve.

Before listing the property with a MLS, a second option is to sell by owner (FSBO). This option is a little sketchy, but it puts your property up for sale without putting it on the lists. The lists are what the banks and loan offices use to determine if your home has been listed for sale within the last 6 to 12 months. It is also what appraisers use to help compare your home to the other properties in the area that have been up for sale recently.   Since you must have an appraisal performed before you can apply for refinancing, keeping your property off the MLS will help better your refinancing options.

A third option is to perform better due diligence and research before investing in the property. If the property looks like it would take too great an amount of time or money commitment before a buyer would be interested, then pass on the property. It is better to put the money in a savings or investment account to draw interest than to get stuck paying on a property you cannot get rid of.

What to do if it’s been listed

If you have listed the property, you will need a de-listing ticket from your realtor to show to the mortgage company. The de-Listing ticket will show how long the home was for sale and the exact date it was taken off market. Turning this into your bank or refinancing officer will help them fill out the appropriate paperwork and will give them and you a better estimate of when you would qualify for a new loan or refinanced loan.

For more information on real estate investment, visit us at homevestors.com. We have real estate investment opportunities as well as opportunities for real estate franchises.

What were they thinking?

Tuesday, September 27th, 2011

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1105

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1132

Although foreclosures are a great way for real estate investors to get a good deal, you have to wonder what the previous owners were thinking before they defaulted. Often when you view a home before the auction, you may find key pieces missing, like the toilets. In some cases, the home may have been robbed and ransacked. In other cases, the defaulting homeowners chose to take stuff with them, which to the banks is like robbing and ransacking.

The real estate crash and the downturned economy in the last few years have left many areas with vast amounts of foreclosures and ransacked homes. Wisely, Nevada has chosen to take matters into her own hands, and it is highly likely that other states will follow suit soon.

New Law

Nevada has passed AB373. As of October 1st, any homeowner that knowingly removes or destroys part of the property while it is in default may be charged with a misdemeanor. This means the homeowner can be arrested and prosecuted. Under the new property law, anything that is affixed to the property by screw, nail, cement, bolt, etc. is a permanent part of the property and is possessed by the bank when the house is foreclosed on. This includes cabinets, countertops, mantles, fixed appliances, toilets, sinks, lights, wiring, etc.

Damaged homes and foreclosed homes bring down property values around them. In addition, banks have a hard time selling foreclosed properties and are less likely to sell them when they are heavily damaged and missing half of their pieces.

What does this mean?

Right now, the law is only in Nevada, but as it catches on homeowners need to find other ways to walk away without getting back at the bank. This also means that real estate investors may have more enticing reasons to talk to homeowners. They can actually help them through a short sale process or other real estate sales before foreclosure takes place. This doesn’t mean real estate investors may hound homeowners to death, but ethical ones will help homeowners understand the laws and help guide them to a better solution or their family. Unethical ones will have to be discussed another time.

For more information about real estate investment or real estate business opportunities, visit us at Homevestors.com. We also have fabulous opportunities for real estate franchises. Why not call us and find out more information?

New Rankings Out on the Best Markets to Invest In Rental Properties

Friday, September 16th, 2011

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1105

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1132

HomeVestors and Local Market Monitor have released their new rankings on the Best Markets to Invest in Rental Properties. The ranking rate the top 100 markets. HomeVestors has franchises available in 97 of the top 100 markets!

The rankings will be updated quarterly. Already, you will see some interesting changes in the top 20 markets. West Palm Beach moved up 8 places to move into the top 10. HomeVestors franchise Don Cameron says, “We are definitely seeing an increase in interest and activity by real estate investors.”

Atlanta also moved up 5 places, and now sits at 11 in the poll. HomeVestors Development Agent John Holman says, “There has never been a better time to invest in real estate in Atlanta. This is a great time to be a HomeVestors franchise.”

To learn more about real estate investing and how you can be a part of HomeVestors, go to homevestorsfranchise.com.

Refinancing TICs

Monday, September 12th, 2011

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1105

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1132

Financing TICs requires a lot of financial capital. If a loan is used to procure the property, refinancing can become a necessary evil. As a real estate investor, it’s important to know all of the problems and concerns you might be facing with financing and refinancing.

All the Numbers

Finding the right refinancing options can create problems if you aren’t considering all of the numbers. You should be looking at interest rates, market risk, and exit strategies written into the agreement. In addition, the flexibility of the loan needs to be considered as well, in case a partner should have to withdraw later or sell his share.

Loan Responsibilities

Although TIC loans are easier and faster to get than personal financing, many lenders view TIC loans as riskier due to the multiple parties involved. Since there is more than one person responsible for the repayment of the loan, many banks and financial institutions require huge down payments and hefty penalties.

Personal Problems

With many lending agencies, the partners you choose can cause financial problems. Personal problems or financial matters can make obtaining the loan harder. Partner conflicts can bust up partnerships and result in additional loan problems. There isn’t any way to avoid these problems, and this area falls into some of the risk assumed with TICs. When selecting partners, running background checks and credit checks can help you determine if they are a good match for you.

Equity Over Time

As with any other property you own, you gain equity. Some partners get an initial loan to gain the property and do not consider the TIC as a long term investment. Before your initial loan can be refinanced, the property will need to be held onto for several years. This time will allow enough equity to build up in the property where refinancing the loan will actually be beneficial enough to save you money.

As always, before you invest in any property or sign any papers, make sure you seek professional financial advice and quality legal counsel. This can help you to spot any potential problems or concerns before you sign your money away for the five to seven years or more.

Real estate investments and real estate franchises are great ways to diversify your investment portfolio. They are also great ways to gain income without having to put out a lot of extra daily work. For more information on real estate investments and franchises, visit us at Homevestors.com.

Tenants – The Good, Bad, and Ugly

Monday, September 12th, 2011

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1105

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1132

As a real estate investor, you know the importance of having tenants. They are your cash flow on a monthly basis which you can invest or reinvest in the property. Without tenants, your properties drain money out of your wallet like leeches.

Great tenants need encouragement to stay and keep renting from you. Especially in economic times where they may be consistently seeking the better deal, tenants need to know you appreciate their business. After all, it is their rent that is your cash flow. Contest, coupons, and social gatherings provide ways for you to say a hardy thank you. Another way is to be quick and responsive with any concerns, complaints, or maintenance issues.

Poor tenants require a little more work. They need to be trained on how to be a good tenant, and they may require more patience. They may complain a lot, annoy their neighbors, or pay their rent late very often. Even when they are annoying, give them your best service and respond quickly to requests and complaints. No matter what, always go by the rules and actions set forth in the lease that they signed. In addition, always keep written records of all interactions, communications, and maintenance issues. That way there is a paper trail just in case you should ever need it.

The ugly part of working with tenants is when things have gone from needing a little work to complete loss. This happens when rent is repeatedly not paid or the rules of the property are not being followed. In this case, finding a new tenant may be a better option.  Eviction is a terrible word and takes lots of legal counsel and work. In this case, these are the things you must do:

Follow the state’s laws on proper eviction notices and time allowances.

Follow the state’s rules on tenant property.

File the proper paperwork and wait for an order of eviction by the court.

Have the order of eviction served by the sheriff.

Follow state procedure on the handling of tenant property and deposits.

For more information and ideas on how to handle tenant problems, visit Homevestors.com. We have lots of information on real estate investment and real estate franchise opportunities.

TIC, TIC, Tock?

Monday, September 12th, 2011

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1105

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1132

As a real estate investor, there are lots of ways to obtain properties. One of the ones with tax benefits is a TIC, tenant-in-common. A TIC or fractional interest ownership is the shared ownership of a property and of the proportional income, tax shelter and appreciation. The good news is you have a deed and all rights of a single owner, but there are many owners. You gain passive income over time, and there is no management or day-to-day work for the investor. Most of these properties are handled by a professional property management group. However, TICs have certain rights, like voting on the property management.

TICs are great for investors with smaller funds that wish to purchase institutional-grade properties for passive income. TICs can also be great for investors who wish to try something new in their investment portfolio. The low amount of capital needed at one time makes Tics investment possible. The more common TIC properties are large office buildings, large multi-family apartment dwellings, assisted living facilities, shopping centers, and industrial properties.

Issues
Due to the voting rights of all the TICS, you cannot and shall not be the sole decision maker. It is a group effort, and chances are you may not always agree the majority rule.

Long Term Investment

Unlike stocks and bonds, TICs are a long term commitment of 5 to 7 years depending on your state’s requirements. Before agreeing to one, an exit plan should be drawn up with legal counsel. Some exit strategies include offering your share to the other tenants first. Other include having sponsors find a buyer for your share.

Greater investment Opportunity

The lower amount needed to invest allows you to have more chances to invest in properties.

Money Matters

Every property has its own closing costs and fees. In addition, your portion of the loan used to obtain the property cannot be refinanced. There is also the risk of losing money as the property value goes down or there is a loss in cash flow.

Speed and Simplicity

Real estate investors save time and money by investing in TICs. Sponsors or other investors have done all of the research and due diligence. In addition, your money and credit is combined with that of other investors. This makes qualifying for loans faster than if you tried to do it on your own.

IRS

TICs qualify for the IRs 1031 Exchange. This can provide investors with huge savings and opportunities to trade one property for up to three. TICs have less risk for investors with all of the mandated timelines.

Real estate investors know that diversification is the key to prosperous growth. TICs may be the way for your real estate investment business to go. For more ideas and information on real estate investments, visit us at Homevestors.com. We have real estate investment opportunities as well as real estate franchises.

Houses that Need Love are Good Investments

Monday, September 12th, 2011

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1105

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1132

Many people find that they need to get rid of a property. Sometimes, this is due to work reasons. Other times, it may be because they simply cannot pay for or take care of the property any longer. That doesn’t make these people or their properties bad. What it does create are opportunities for wise real estate investors to give some much needed love to well deserving homes.

The wisest of real estate investors will look for homeowners that fit the following situations:

  1. The owner just needs or wants to move
  2. The home has too many bad memories
  3. The home is no longer in a desirable location for the owner
  4. The home has foundation or hidden structural problems;
  5. The home has a terrible financial arrangement

Most of the time, these situations have properties in decent condition that just need a sprucing up that a couple coats of paint and maybe some new hardware can fix.

Due to the homeowner waning to get rid of the property, a real estate investor can normally get a good deal on the property. Most homeowners will be agreeable to any arrangement as long as the deal is closed quickly, and the homeowner does not have to pay the closing costs. The home is a good investment if the potential value of the home is greater than the price you offer for the home plus the addition costs of closing and repairs. Most real estate businesses would say the property value must be at least $30,000 greater than total of the repairs and costs, or the home is not a truly wise investment.

Be Wise

Finding a home that looks like a good deal should always be examined a second time. Be sure to have an inspector tour the property to give you an accurate idea of how much work the property needs. This will help you give the best bid.

Always allow extra room in your estimates of repairs for time and supplies. Work never goes as it is planned. More room also means less panicking later when something happens.

Stick with renovation projects you know you can handle, and pass on ones you know you cannot. It will save you money in the longer, and it’ll be a better financial fit for your real estate investment business.

For more information on real estate investments, look us up at Homevestors.com.  If you love real estate investing, we also have fabulous real estate franchise opportunities.

Real Estate Investors Know Home Styles

Monday, September 12th, 2011

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1105

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1132

Before you start buying and trying to make a living with real estate investment, it is always a good idea to learn a little about the market. Not every person likes the same style of home. Some people prefer ranch style homes, while others prefer Tudor style homes. In order to help provide the best service to as all of your clients, you need to know the differences between the various styles of homes.

Ranch Home

A ranch home is a one story building. Usually there is a carport or garage attached to one end of the home. Some ranch home also have a basement of some type.

Bi-Level Home

A bi-level home is a two level home also known as a split ranch. Since this is a two level home, instead of the lower level being a basement, it is actually a lower living level that is more than half way out of the ground.

Split Level Home

A split level home is great for providing lots of usable space. It became popular after World War II, and are usually split front to back or side to side.

Contemporary Home

These are unconventional nontraditional lines and shapes. The exterior is normally covered in hardwood or redwood. These homes are available in various sizes and shapes.

Townhouse

Townhomes are multiple story single family homes grouped together. They do not have lawns and other outside maintenance requirements normally. They are named after the row houses from the
early housing in cities.

Colonial Home

A colonial home is an elegant, two-story home with lots of space. These are very popular and known for being well crafted.

Cape Cod Home

The cape cod home is typically found in the north. It has plenty of space and is typical one and a half levels.

Tudor Home

Tudors and other English homes were extremely popular at the end of the 19th century and the early 20th century. They are very ornate on the outside, featuring unique wooden trim that stands out from any other type home.

Victorian Home

The Victorian style of house was built in various models during the turn of the last century. Home buyers appreciate the architectural nuances of Victorian houses including large porches and interesting bay windows.
Although it may seem like common knowledge, not every real estate professional knows every home style. Further educating yourself in style differences can help you provide better customer service. For more information on real estate investment or real estate franchises, visit us at Homevestors.com.

Health Considerations for Real Estate Investors

Monday, September 12th, 2011

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1105

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1132

As the property owner, real estate investors are responsible for addressing any and all issues that may affect the health of the people that rent or buy your property. Make your real estate investment a healthier place to live and address those potential air quality issues that do not meet legal health requirements, especially those established by the Environmental Protection Agency (EPA).

Lead
Federal law requires landlords to disclose to buyers and tenants the status of lead based paint on a property before contracts or leases are signed. Lead from paint, chips, and dust can pose serious health hazards. Responsible real estate investors should take appropriate measures to remove lead paint or to have it properly abated before selling or leasing the property. A passing lead inspection report should be provided to any buyers or tenants.

Asbestos

Until the ‘70s, many building products and insulation contained asbestos. If these products are on your property, they should not be a threat unless they are damaged or disturbed. Real estate investors are required to disclose the presence of asbestos to their tenants and buyers, especially if it is in an unsafe condition. All asbestos properties should be inspected and  problems removed, repaired, or encapsulated.

Radon

Radon is made from the deterioration of uranium. It is considered a cancer causing form of radiation. Radon gas gets sucked up into a property due to lower pressure levels, and it collects in lower lying floors. Inhaling radon gas for an extended period of time or inhaling higher amounts of radon increases your risk of lung cancer. Responsible real estate investors will test their properties for radon. If it is present, there are several inexpensive barriers or vents that can be put in to lower the level of radon in the home. Legally, property owners must divulge the presence of radon to their buyers or tenants.

Mold

Property owners are responsible for the conditions of their properties, including mold and excess moisture. Too much moisture grows mold, mildew, and other yucky things. Depending on the occupants, allergic reactions, asthma attacks, serious illness, and even death can occur. It is the property owner’s responsibility to have the home treated for mold before new tenants or buyers move in.

Taking care of your property and your tenants will only better your reputation as a real estate investor. For more information on real estate investment and real estate franchises, visit us at Homevestors.com.