It all seems so simple on the surface. You buy property to rent, build up equity and even ownership based on the rent paid and presto, you own an income generating property. But the reality is just a little more complicated. It can still be done, no doubt, but you need to be smart and understand that you are entering a complicated and long-term relationship. The potential to get it wrong is considerable, so knowing as much as possible going in will help you avoid some real problems. Read more here.
Archives for March 2015
In the 1960s, there were about 500 homeowners associations. Today that number is over 300,000. Chances are you or someone you know live in a community with an HOA. On the good side, HOA rules prevent neighbors from parking their ‘projects’ on the front lawn, and on the other side, they may limit your freedom of choice when it comes to your home. In all cases though, the rules and bylaws are clearly written out, and learning to engage with the HOA board is the first step to a great relationship. Read more about 10 tips to make it happen, here.
Home inspectors have a job to do; how big that job is might depend on you. If you are preparing your home for sale, you might want to put in some time and effort before the inspection to improve the results. If the inspector has less to report, the odds are that the report he gives to the potential buyer will be less of a barrier to making the final sale. There are some common-sense approaches and some interesting tips to consider. Read more here.