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Hurricanes can wreak damage, level structures and cause devastation both financially and emotionally. Sometimes, the only hope for property owners is to receive adequate insurance reimbursement very quickly.

SPECIAL FAQ: Hurricane Dorian

August 28th, 2019

With Dorian well on its way to Jacksonville, property management companies are fast at work, hurricane procedures playbook in hand, prepping owners and tenants alike regarding appropriate hurricane damage protocols, installation of shutters and plywood and sharing the best means of emergency communication with management staff during this 2019 hurricane season. IPS is no exception as the team is at work executing plans for beforehand damage mitigation and a smooth, uneventful recovery.

The prospect of real estate investing is versatile, therefore affording almost anyone the ability to strategize accordingly regardless of budget or experience. While cash flow, debt paydown, depreciation and appreciation are the pillars of real estate investing, their functions vary in individual real estate investment transactions. "Buy-and-hold" strategies, however, offer the benefits of all four pillars and remain a preferred method for most rental property owners, resulting in six strong arguments for investing in rental properties.

As a rental property owner, you will likely hold all the decision-making power unless you've been at this for a while and retain a staff which operates as a well-oiled machine. What you may or may not have experienced by now is the element of "decision fatigue". You find yourself falling into one of two categories: you spend too much time making a decision or you neglect to expend the appropriate amount of time in your decision making opportunities. Let's assume you fall under the "too much energy expended on making decisions" category for the sake of this post.

Just because you are organized and have filed your business receipts alphabetically does not mean that you should do your own taxes. Your methods might not be as "valued" by the IRS as they are by your checkbook and that which started out as a cost-saving measure in the beginning could cost you big bucks in the end. At the end of the day, you cannot bring your accounting skills under your own legal protection the way that a CPA can and the IRS is pretty serious about ensuring their stringent rules are followed.

As Warren Buffett stated, "Never depend on a single income. Make investment a second source." Mr. Buffett did not make his fortune overnight, however he did commit to hardcore research and determined to be successful.

The prospect of real estate investing is not solely relegated to the wealthy. In fact, it is open to anyone willing to make a commitment to a new business venture. The selection process for obtaining profitable rental properties is well within grasp when avoiding three specific mistakes:

Most rental property owning landlords consider selling from time-to-time for various reasons. However, there is a trade-off for every decision in life and it is crucial to understand helpful options while being mindful of future finances.

Central air is a basic expectation for most clients choosing to reside in warmer parts of the country. In Florida, one simply cannot survive without central air. Such a luxury is often taken for granted until something goes awry and this beloved commodity fails. As a landlord, you will likely face the possibility of eventually replacing an AC unit in one of your rentals.

LLCs are all the rage and, if you've been in the property rental business for a while, you are likely familiar with the term "LLC". For newbies, Limited Liability Companies (LLCs) are the least complicated way to structure a business so as to protect personal assets in the event of a lawsuit. LLCs can be owned by multiple members or they can exist in a single member format, a.k.a. just you!