Ah, the 1031 exchange—perhaps the most money-savvy way to defer capital gains taxes while building your long-term wealth.
Making big property decisions? Whether you've inherited a new piece of property or are just moving to a new location, you have important choices to make.
Guaranteed Rent has changed the rental market for landlords, residents, investors, and property management companies alike. It's given property owners a way to maximize their rental income without doing all the heavy lifting.
Rent prices aren't set in stone—they ebb and flow throughout the year. Industries like retail, sports, and travel do the same thing. That's why you can book a beachside cottage in December for less than half of what you pay in July. It's also why you can buy super-discounted skis and snowboards in the summer.
Owning a single investment property is a great start to obtaining financial freedom. However, it's just that—a start. You'll need to acquire a second, third, fourth, and beyond properties to turn your part-time hustle into a full-time income.
Visit Zillow and start browsing your rental options. What do you see? Likely, lots of large apartment complexes that seem nearly identical. While there's nothing inherently wrong with this (many of us have lived in these places ourselves), they are not for everyone.
Inflation likely comes to your mind every now and then. You probably think about it whenever you get a raise (or ask for one), do your budgeting, or decide where to invest your money.
Nobody is perfect—but Kevin's property management company didn't even seem to be trying. After working with the company for a while, he got fed up with their:
Gary and Trish had always wanted to move to the foothills in Boulder, Colorado, but home prices in the area are far from budget-friendly. To afford a mortgage, they'd need to prove a good deal of monthly income—more than their salaries alone showed.