If you have a property that you are not using, you probably have questions like how much should I rent my house for? The monthly rent you should charge is usually calculated as a percentage of your property’s value. An aggressive rule of thumb says rent should be about 1 percent of the property’s value,…
About the Author
Allison Bethell
Allison Bethell is a staff writer at Fit Small Business, specializing in Real Estate Investment. Allison has fixed and flipped over 100 properties, including residential and commercial properties. She is a licensed real estate broker in Florida. She graduated from Villanova University with a B.A. in Business and Sociology. When Allison isn’t involved in real estate or writing, she loves to travel and has been to all 7 continents. She resides in the Miami Beach area with her husband and dog.
6 Best Tenant Screening Services 2018
Tenant screening services are used by landlords, property managers and Realtors to assess whether or not someone is qualified to rent an apartment. We looked at the most popular options and rising stars and decided to review them based on their pricing and features. The best option is going to be affordable and offer flexible…
Section 1031 Exchange: The Ultimate Guide to Like-Kind Exchange
Section 1031 refers to an IRS tax code that allows investors and businesses to reduce their tax liabilities when selling certain property. A 1031 exchange helps defer capital gains taxes by selling your investment property and rolling your capital gains over to purchase a like-kind property. Usually, you have 180 days to purchase the new…
11 Best For Sale by Owner Sites 2018
A for sale by owner (FSBO) is a property sold by the owner without the assistance of a Realtor. Generally, homeowners save as much as 5 percent to 6 percent in real estate commissions and sometimes pass some savings onto the buyer. Buyers can find these listings on FSBO-specific sites as well as more traditional…
How to Buy a Pre Foreclosure Home in 8 steps
A pre foreclosure happens when a borrower defaults on their mortgage but before the bank fully forecloses on it and sells it at auction. During this time, the seller can either sell the property or make good on the outstanding balance owed. An investor can typically buy a pre foreclosure at a discount. If you’re…
Private Money Lenders: The Ultimate Guide to Private Money Loans
Private Money Lenders are non-institutional lenders that issue short-term loans for the purchase of, and sometimes the renovation, an investment property. They’re commonly known as “hard money lenders.” These private money lenders offer private money loans to short-term fix-and-flippers as well as long-term investors looking for a rehab project, quick funding, or cash-out refinancing. Looking…
Hard Money Loan Rates, Terms & Where to Find
Hard money loans are short-term, interest-only mortgages used by investors to purchase and rehab distressed properties. These loans have higher rates up to 12% but can fund in 15 days, helping investors compete with all-cash buyers. The loan is generally paid back within 12 months when the property is flipped or when permanent financing is…
Land Loans: Types, Rates, Terms & Where to Find
Land loans are used to purchase raw land, agricultural property, recreational land, and vacant lots. They differ from traditional property loans because lenders perceive the collateral to be less secure and the loans to be riskier. Lenders will typically ask for higher down payments up to 30% or more and charge higher fees/interest than typical…
Landlord Insurance: Costs, Providers & What to Avoid
Landlord insurance is a specific type of property insurance that protects landlords against any potential liability caused by tenants and is generally required on investment properties. Typically, a landlord insurance policy is 20-30% more expensive than a homeowner’s policy. A standard landlord insurance policy includes dwelling coverage, loss of rental income and liability coverage. The…
Rehab Loans for Real Estate Investors: Costs, Terms & Lenders
Rehab loans help real estate investors fund the purchase and renovation of residential properties. They’re used by both short-term investors to fix-and-flip properties as well as long-term investors looking for renovation financing for rental properties. Rehab loans combine a property purchase and rehab costs into a single, short-term loan with quick funding times and interest-only…
How To Buy a House at a Real Estate Auction In 6 Steps
Buying houses at auction is a fast process where undervalued properties are sold to the public through competitive bidding. Auctions are either in person or online and can be advantageous for a fix and flipper and a long-term investor. Most auctions require a 5%-10% deposit the remainder within 30-45 days (if you win). If you’ve…
Buying a Foreclosed Home: How to Buy a Foreclosure in 5 Steps
A “foreclosure” is the process in which a lending institution tries to recover a portion of the outstanding mortgage balance from a homeowner who has defaulted on their loan. They typically do this by selling the property at a foreclosure auction. Buying a foreclosed home offers real estate investors a great opportunity to buy low.…
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