Monthly Archives: December 2010
Many people have a mere notion that the real estate contracts can be hard to understand and enforce in a practical legal sense. There are many reasons for this specific notion to arise in their minds.
Let me first state that I am not an attorney and nothing I write or say should be considered legal advice. Please contact an attorney before making any legal decisions. When doing any type of real estate investment deal it … Continue reading
The landlord tenant security deposit is one of the biggest litigated subjects in courts besides eviction. Here you will learn the steps to take so you can avoid a lawsuit. You’ll learn what essential document you must use. You’ll learn what is considered normal wear and tear. And you’ll learn what is considered damage. You’ll also learn if you can deduct unpaid rent and or unpaid utilities.
The single most reason that barricades potential real estate investors from entering the lucrative arena of owning rental properties is funding. Finding different means of obtaining funds to pay closing costs, putting money down on loans, and minor repairs if needed upon purchase is not an easy task unless you are already wealthy. Getting the money that you need to get started isn’t necessarily easy, but below are a few methods that I personally found to work along with a few that I have heard work well but not yet tried.
Real estate money-making ideas and programs are often pitched to eager viewers on television and through radio as “get rich” opportunities, but the fact is there is no “quick” in get rich. Rental properties are a great means of building wealth, but patience, persistence, and excellent interpersonal skills are all necessary to make it happen.
Almost every landlord requires a tenant to pay a security deposit when they rent a residence to them. Security deposits help ensure that the tenant doesn’t damage the property, but is also often used as the last month’s rent if the tenant gets behind on the rent (although in some areas this practice isn’t legal). One legal form / contract that is priceless when it comes to managing security deposits is the “Security Deposit Itemization Form.”
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