Why Renting Out Your Home Might Be a Better Financial Move Than Selling 1. Steady Monthly Income The most immediate benefit of renting out your home is the consistent monthly rental income. Let's crunch some numbers: If you own a house worth $300,000 and sell it, you might pocket a significant amount after covering your outstanding mortgage and closing costs. But, if you rent out that same...
7 Surefire Ways for Florida Real Estate Agents to Find Property Management Clients Being a real estate agent in the sunny state of Florida comes with its fair share of challenges and opportunities. One such opportunity lies in tapping into the ever-growing market of property management. If you're ready to step up your game and attract owners and landlords seeking property managers, buckle up because...
If you have been in real estate long enough, then you know the pitfalls and headaches that come with the job. But if you're new to real estate, buckle up because we're about to dive into the wild world of the real etate world. And let me tell you, it's not exactly a walk in the park. Picture this: doom and gloom stats flying at you from all directions, like a never-ending rainstorm. The overlords at NAR...
MOST OF US DON’T START THINKING ABOUT RETIREMENT UNTIL WE’RE IN OUR LATE 50S OR EARLY 60S. BY THEN, IT MIGHT BE TOO LATE TO MAKE CHANGES. HERE’S WHAT TO START THINKING ABOUT IN YOUR 40’S 1. LACK OF A RETIREMENT VISION Retirees often lament the end of work life. They say things like, “What do I do now? Grow roses? Paint the fences? Then what?" Being lost about what comes next makes it...
In April, Canada's finance minister announced a two-year ban on foreign home buying, as well as higher taxes for people who sell their homes within a year (with qualifying exceptions). Also in April, the island of Oahu in Hawaii passed a law nearly eliminating short-term rentals, now requiring minimum stays of 90 days in all but a few situations. Many local communities and even condo HOAs are...
December means the holiday bustle is upon us; there are flights to catch, gifts to purchase, houses to decorate, and taxes to think about. Not the most cheerful of messages to hear during this time, but for property owners or the self-employed, tax season can be as stressful if not more stressful than the holiday season. To get a head start on taxes next year, here are a few things to consider. The...
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