Remove Contractors Remove Rent Remove Rental Income
article thumbnail

6 steps to jump from property manager to property owner: Build your rental portfolio with confidence

Buildium

Relationships with lenders, brokers, contractors, and inspectors can make a big difference when you start investing. List your expected rent income and subtract all expenses, such as your mortgage, taxes, insurance, maintenance, and vacancy periods. Your professional network is another huge advantage.

article thumbnail

Can You Deduct Your Own Labor on a Rental Property, Answered

Bay Property Management Group

So, if youre taking care of repairs yourself, can you deduct the cost of your own labor on a rental property? After all, hiring contractors is deductible, so shouldnt your own hard work count too? However, there are other ways you can save on your rental expenses, like contractor and material costs.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

The Impact of Inflation on Rental Property Investment Projects

Bay Property Management Group

Then, if you pass these extra costs onto tenants, the rent may have to go up even more. To get more specific, just how does inflation impact rental property investments? The Impact of Inflation on Rental Property Investment Projects Inflation on rental property investments can come with both positives and negatives.

article thumbnail

Professional Property Management: Why It’s Worth the Investment

Real Property Management Chicago

Lower Maintenance and Repair Costs Maintenance and repairs can be a problematic part of rental property ownership, particularly if you are new to being a landlord or don’t have much time to do the work yourself. Distinguishing when a job requires a licensed contractor is sometimes complicated to decipher.

article thumbnail

Can You Remodel a Condo in Philadelphia?

Bay Property Management Group

Your licensed general contractor will handle filings, so submitting paperwork early can prevent project delays. In most cases, your licensed general contractor will handle this part for you. So, a sleek kitchen helps justify higher rent or a higher resale value. Remodel vs Flip vs Rent: Which Strategy Works Best?

article thumbnail

Flipping Vs. Renting- Which Real Estate Strategy is Best for Long-term Gains

Beach Front Property Management

Two popular options are flipping houses and renting out properties. What is Renting? Renting, or the buy-and-hold strategy involves leasing a property to residents in exchange for monthly payments. With a structured approach, renting remains a viable long-term investment strategy.

article thumbnail

Real Estate Investing 101

American Apartment Owners Association

These properties generate income from multiple units, allowing you to diversify within a single investment. Here are a few reasons why starting with a multifamily property can be a game-changer: Consistent cash flow: With several tenants , you’ll have multiple streams of rental income. Week 9-10: Closing the Deal 9.