Should You Create an LLC for Your Rental Property in Texas?
Green Residential Blog
by Green
1y ago
Owning property in Texas puts you in a decent financial position – especially if you’re renting the property and making a profit on it. But if you want to make your profits consistently, and mitigate potential risk, you need to strategically plan to protect yourself. One way to protect yourself – and your entire real estate operation – is to form an LLC for your investing needs. But how exactly does this work and is it worth the money and effort to protect your rental property in Katy, Houston, or another Texas city? What Is an LLC? A limited liability company (LLC) is a type of organization ..read more
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Why Is Documentation So Important in Property Management?
Green Residential Blog
by Green
1y ago
There are many important ingredients for success in a rental property management strategy. You’ll need to find the right neighborhoods, purchase the right properties, find the right tenants, and keep a tight leash on your expenses if you want to make a consistent profit. In addition to all that, you’ll need to turn yourself into a thorough archivist, documenting almost everything related to your property. Why are documentation so important, and what steps can you take to make it easier on you? The Role of Documentation Let’s take a look at some of the ways that thorough documentation can help ..read more
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7 Tips for Investing in Multi-family Properties for the First Time
Green Residential Blog
by Green
1y ago
As their names suggest, single family homes are designed to house a single family, and multi-family homes are designed to house multiple families, usually indifferent, segmented units. In a duplex, you typically have a single building bifurcated so that two different families can live in two different sections. Triplexes and fourplexes are similar. There are also apartment buildings, which allow you to have many different units in a single complex. Investing in multi-family properties can be highly beneficial for your real estate investing strategy. But there are also some drawbacks and cavea ..read more
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Owning Multiple Properties in One Neighborhood: A Guide to Increasing Profits
Green Residential Blog
by Green
1y ago
If you own a rental property and you manage it successfully, you might make an easy profit of a few thousand dollars every year. It makes sense that you would want to buy an additional property so you can multiply your earnings even further. One increasingly appealing strategy for real estate investors interested in scaling is purchasing multiple properties in the same neighborhood. But why is this such an advantageous real estate investing strategy? And what can you do to see better results from it? Why Own Multiple Properties in the Same Neighborhood? Let’s start by looking at the motivatio ..read more
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How to Transition From Part-Time to Full-Time Landlord
Green Residential Blog
by Green
1y ago
People often get their feet wet in real estate by investing in one or two single-family rental properties. Many of them soon discover that real estate investing is what they want to do full-time. So, they immediately start asking questions like: How can I quit my job and become a full-time landlord? Great question…glad you asked! The Benefits of Being a Full-Time Landlord Being a full-time real estate investor and landlord isn’t for everyone. However, most people find it attractive because of benefits like: Monthly cash flow. When you go into full-time landlording, you’re able to spend more ..read more
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4 Tips for Real Estate Investing With Your Spouse
Green Residential Blog
by Green
1y ago
Real estate investing offers couples one of the fastest paths to wealth and financial freedom. However, is it something that one spouse should focus on? Or is it a good idea for to be directly involved in the business? In this article, we’ll discuss all of that and more. The Benefits of Real Estate Investing for Couples Real estate investing affords couples a number of distinct benefits (many of which are unique to real estate and don’t extend over into other business opportunities). Here are a few of the reasons why couples should give real estate a shot: Steady cash flow. If you’re looking ..read more
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Charging Below-Market Rent? Here’s What You Can Do
Green Residential Blog
by Green
1y ago
Just like numerous other economic factors, rental rates fluctuate over time. Theoretically, they can go up and down. Practically, they only go up over time. That means if you don’t ever change your property’s rent rate, you’re eventually going to be undercutting yourself and charging a number that’s well below the going market rate. If you’re in a situation where you’re charging less than the market rate, you have options. However, if you want to increase the rate and bring it up to the standard in your area, make sure you’re smart about how you do it. Otherwise, your decision could lead to s ..read more
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What are iBuyers and Do They Pose a Significant Threat to Real Estate Investors?
Green Residential Blog
by Green
1y ago
iBuying is changing the way many people buy and sell homes. But what is it exactly and what does it mean for you as a real estate investor? This article will answer those questions. So read on if you’ve ever wondered about the impact iBuying has on real estate investing. What is iBuying? First of all, no, iBuying is not an extension of Apple’s brand of iPhone, iPad, and so on. The “i” in iBuying stands for “instant.” The term refers to instant cash offers made on houses by large corporations. These large iBuyer companies use algorithms that take into account comparable properties in the area ..read more
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When Should You Sell Your Houston Rental Property?
Green Residential Blog
by Green
1y ago
At Green Residential, we’re all for owning as many rental properties as you possibly can. It’s one of the fastest and most predictable ways to build wealth over the long run. However, not every rental property is a “buy and hold forever” kind of rental. There comes a time when you may need to sell the property and move on. Here’s When You Should Sell a Rental The decision to sell a rental property isn’t one that you should take lightly. There’s a right time and place. 1. The Numbers Don’t Add Up The first reason is the most important. If the numbers don’t add up, you need to get rid of the pr ..read more
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6 Things Houston Homebuyers Hate
Green Residential Blog
by Green
1y ago
Selling a house can be a stressful and frustrating experience. However, it can also be exciting and opportunistic – especially in a seller’s market where you have most of the leverage. But if you’re going to extract maximum value out of the sale of your house, make sure you’re giving buyers what they want. That means catering to their needs and expectations (and avoiding the things they do not want to see). Homebuyers Hate These Things Homebuyers have expectations. There are certain things they want to see and certain things they don’t. Avoiding the latter is arguably just as important as sat ..read more
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