T&H Realty Services Blog

*Guest Blog Post *

Whether you're buying or renting, the idea of "location, location, location" being essential to a good real estate investment might seem like a cliché, but that doesn't make it any less important.

While there are plenty of factors you'll need to think about when moving to a new house, from how many bedrooms you need, to whether you need a spare bathroom, there are few things more important than where you decide to lay your hat.

With a reliable real estate agent  or Property Management Company at your side, you have the world at your feet, and endless opportunities to find a home that suits you perfectly. With that in mind, we're going to cover just a few of the tips you can take with you when you're looking for not just your dream home, but the ultimate community too.

In the rental property industry there are always two sides of the coin - Landlords and Tenants.

In a perfect world, everything would always go smoothly, everyone would get along, and both parties would see eye to eye. 

Unfortunately, we live far, far away from that world. 

Every state has laws in place to protect both property Owners and Renters and there are certain requirements expected of each. You've heard the saying: "with great power comes great responsibility." Well, as a Landlord, you hold a great deal of power in your hands and so you have a greater burden of expectation. 

After being in business for over 10 years, we've made our fair share of mistakes and we've seen the pitfalls that other Landlords have fallen into as well. 

The bottom line is, it's on you - not your Tenant, not your lawyer - to ensure you're complying with state, federal, and municipal laws. Ignorance will not hold up in a court of law. 

Take a few minutes to read about the most common legal mistakes we've seen Landlords make across the board so that you don't suffer the same fate.  

We’ve been inundated with calls over the past several weeks from investors who share a similar story.

The conversation goes something like this.

“I need help. I own a few properties in Indianapolis and I haven’t received rent in (fill in the blank) months. No one is returning my calls. I feel like I’ve been scammed.”

For the most part, these homes are located in some of the worst areas of Indianapolis. I’ve used this illustration in the past to describe it best… picture the worst parts of Indianapolis and then picture the worst homes inside those neighborhoods.

Generally, those are the homes we’re discussing.

And inevitably, as we further discuss things with the investor, we learn that they were using Oceanpointe to manage their homes.

I think I speak for most of us - if not all of us - when I say that taxes can be complicated. 

But, unfortunately, as a real estate Investor, taxes are a big part of our life and in order to be successful, we have to stay informed. 

We've got property taxes, sales tax, write-offs, state, federal, the list feels never-ending sometimes. 

Luckily for us though, we get a ton of perks when it comes to taxes, which most individuals can't claim. 

On top of the plethora of items we can write off, there's another tax benefit special to real estate Investors - 1031 Tax Deferred Exchanges. 

If you're looking to grow your portfolio and continue building wealth through REI, this could be a very viable option for you. There are some fantastic benefits and a LOT to learn about the process. 

*I would just like to disclaim that I am not a tax adviser or financial planning expert and you should consult one before you begin conducting a 1031 exchange.* 

A hot topic in the world of Real Estate Investing right now, is whether or not Landlords should accept Section 8.

Or rather, if they have to accept Section 8.

Many municipalities across the country are opting to make “source of income” a protected class. 

What does this mean for property Owners?

Basically, it makes your decision for you.

This increasingly popular trend ensures no Tenant is turned away due to being on a housing assistance program. In essence, you’re required to accept Section 8 vouchers.

So far, the state of Indiana has yet to implement this new protected class, but I’m sure it’s only a matter of time.

For now though, if you own rental properties in Indianapolis, you still have a choice.

So, let’s dive a little deeper into the world of Section 8 to:

1. Help you determine whether or not you want to accept it for your properties.
   
   
2. Educate you so that you’re prepared in the event you have to start accepting it.

Today, we thought we would begin a regular - or not so regular - blog series that brings you real-life stories, from a real-life Property Management Company - us - about various situations relevant to the day-to-day life of a Property Manager.

I’m certain, as single family Property Management continues to grow, that someone will produce a reality TV show about our industry.

Because, as you can imagine, or as you may know if you are a Landlord, there can be a lot of drama in the rental business.

Today’s story details an event that happened many years ago.

It was an event that was very painful, taught us some valuable lessons, and made us a much better Company in the long run.

But - wow - was it difficult.