Consider expanding your service offerings to include mortgage services.  Mortgage services are extremely profitable.  Many states only require one or two courses to get licensed, and you may be able to use the loan officer course to get MCE credit for your real estate license.

You probably have a large pool of prospective investors with adjustable rate mortgages who need to refinance their mortgage. Why refer this business, when you can easily provide this service. You already have an established relationship with each owner.  If you own your office, you may even consider subleasing space and partner with a mortgage broker. Our in house mortgage broker pays us rent and refers real estate and property management business to us. This drastically lowers the overhead cost for both companies.

In my last article, I discussed how 2008 will be a great opportunity to purchase rental property from motivated landlords with negative cash flow properties.  As property managers, we can easily achieve instant equity by purchasing property below market and earning a commission at closing. We can increase our return on investment with monthly cash flow, appreciation, principle reduction, and tax savings by depreciating rental property. However, only licensed real estate professionals can use rental property to generate business income.

No other investment can potentially offer a greater return for a property manager than investing in rental property.  Our company provides maintenance, sales, leasing, property management, and mortgage services. We leverage all of our services to generate as much revenue per client as possible.  We offer a one stop shop for all our customers. 

As a licensed real estate broker and loan officer, we generate thousands of dollars each year by assisting tenants living in rental properties I own to purchase homes. We assist tenants in repairing their credit, obtaining a mortgage, representing them as a buyer’s agent, and utilizing our in house maintenance company to help them fix up the property or make any necessary repairs. Not only are tenants happy to utilize our services, but they refer business to us as well.

In our market, there is a huge demand for home buyers who just sold their home and need a place to park while they build a new home. Yet few property managers offer lease terms less than six month, because short term leases are not profitable for the owner. I fill this market demand with properties I personally own and network with Realtors and builders and offer short term leases for their clients and customers. In return, I ask them to refer my company future property management business. We will refer the owner back to the Realtor if they decide to sell the property in the future. This makes the sales transaction go very smoothly, and Realtors are thankful for us providing this service. We have obtained many property management referrals because of this service offering. Even the short term tenants have referred property management business to us.

The more properties you purchase, the more you can leverage your company’s services to generate business income. You will save thousands of dollars in income taxes each year by depreciating each rental property.  Owning rental property can lower your income tax liability to low single digit percentages. Some landlords with a large rental property portfolio pay no income taxes, because their depreciation expense exceeds their taxable income.

I encourage property managers to take advantage of near record low interest rates and purchase as many rental properties as possible. Leverage your rental properties to generate incremental business income.  

In my next article, I will discuss how licensed real estate agents can leverage rental property to generate additional business and tax savings.

Kris Colquette
http://www.articlesbase.com/real-estate-articles/property-managers-leverage-rental-property-to-generate-property-management-business-699415.html

Nothing comes close to the warm, stunning finish that can be achieved with a hardwood floor. Each section of hardwood floor has a different grain which combines to form a unique look whenever it is used. A lifetime investment, hardwood floors are incredibly durable, stain resistant and do not trap dust so are especially good for allergy sufferers. By installing hardwood floors you can increase the value of your home and give it the edge over similar property on the market. There is a huge variety of hardwood floors available with many types of wood species, colours and widths available from hardwood flooring UK suppliers.

Hardwood flooring can be purchased in pre-finished or unfinished styles. For cheap hardwood flooring consider using unfinished hardwood flooring. Using a flooring supplier like UKCarpetsDirect is ideal as the offer free hardwood flooring samples delivered to the UK to help customers make the right choice. By lacquering and protecting the floor yourself you will save money. When laying unfinished hardwood flooring the product can be recoated several times to increase its life making it last considerably longer than carpets and laminate flooring. As the floor ages you can re-finish the floor and bring it back to life.

The biggest selling hardwood floor in Europe and the USA is Oak flooring with a vast majority being produced on the East coast of America. Oak is available in various species including White, Red and European oak, each with their own grain and colour characteristics. Cherry hardwood flooring is also popular due to its outstanding grain markings and solid composition. Over time cherry wood flooring darkens from a pale pink colour to warm dark red tone and like all hardwood floors it is highly resistant to damage. Exotic hardwood floors give a room a unique look are now readily available at major hardwood flooring UK suppliers alongside more traditional timbers.

Hardwood floor installation should begin with a flat, dry and solid sub floor. Deviations in level can be rectified with suitable floor filler. When using a wooden floor sub base the hardwood floor installation should be made at right angles to aid strength and stability. Carpet is not suitable and must be removed. Harwood flooring should be allowed time to acclimatise before it is set down by leaving the floorboards in the room for several days. A plastic membrane to stop moisture is recommended for hardwood floor installations in damp areas. A hardwood floor store will recommend to leave an expansion area around the perimeter of the room to allow for contractions and expansions of the hardwood floor. Expansion gaps can be covered with skirting boards or a cover strip.

Hardwood floors are extremely tough and with simple care and attention they can be kept in prime condition. Standing water can warp a floor so any spillages should be soaked up immediately. Any cleaning agents used should be pH neutral and specifically designed for hardwood floors as other cleaning agents can strip the finish from the floor. Where possible use the manufacturers recommended product which will compliment the flooring to the highest standards. Damp mopping is not recommended on hardwood floors which have a poor surface finish. Use doormats to keep gravel and dirt at bay which act as sandpaper and cause marks and scratches on your floor. Weekly sweeping and vacuuming will take care of any dirt that does settle on the floor and will reduce general wear. Dust mops are ideal for trapping dust. Only vacuum with a brush adapter and never use the beater bar which can cause dents in the floor. Better still use a vacuum specifically designed for hardwood floors. Avoid wearing stiletto heels on hardwood floors and if possible only wear indoor shoes or slippers on its surface. When moving furniture it should always be lifted and protective pads can be applied to furniture legs to prevent dents occurring.

Rami Nseir
http://www.articlesbase.com/home-improvement-articles/hardwood-flooring-advice-with-free-samples-delivered-to-uk-122026.html

Seller financing has become an increasingly popular way for property owners to convert real estate into an income stream. It’s especially useful when potential buyers may have trouble meeting traditional qualifications. A seller financing agreement is handled like a loan for some of or the entire purchase price but instead of lending the money, the financer manages a promissory note for the amount of the loan. This makes seller financing an excellent option in a stagnant local market or in cases where the seller would prefer to treat the property as an ongoing investment without becoming a landlord. The seller may also benefit from a number of tax incentives. A seller-held note does entail fairly strict responsibilities, however. Mortgage note buyer DMO Direct Funding notes four particular characteristics that are universal to successful seller financing.

Competitive Interest Rates: As the seller, the interest rate is completely up to you, subject to applicable laws. Charging too high a rate makes it difficult to get interested buyers, but charging too low a rate provides little or no benefit for the seller. Since you’re not an institution you can charge a lower rate than a bank without taking a hit on your returns, but those returns should still be comparable to other investments. A financial advisor can point you to key indicators like T-Bills that will help you set your rate.

Prudence: Successful seller financing is as transparent and safe as possible. That means that as the seller, you’ve run a full credit check and you have accurate records relating to the property, including recent improvements and any past property inspections. You should also welcome the buyer’s investigations into the property. When these precede the signing you prevent future arguments about the property. Finally, make sure that the property is fully insured. Skipping these steps is the source of a great deal of grief for many would be seller-financers.

Legal Representation: You should never enter into seller financing without consulting a lawyer who specializes in real estate. You are responsible for the integrity of the financing documents and don’t want to be surprised if a malformed clause cuts you off from payments or worse yet, unintentionally runs afoul of the law. A lawyer should also be in easy reach in case there is any future dispute over the note.

Long Term Perspective: You should be able to track how the seller-held note fits into your overall finances over its entire term. That means you need to consider what might happen in an emergency when for one reason or other, payments aren’t coming in. Do you have the will and advice on hand to initiate foreclosure? Do you anticipate significant medical or tuition expenses in your future? Be prepared. Fortunately, if you’ve managed your note reasonably well you can sell it to a mortgage note broker. The note’s seasoning and terms will greatly influence its value.

Chris Gill
http://www.articlesbase.com/real-estate-articles/four-essential-tips-for-seller-financing-754533.html