Tips For Renting Your Carolina Real Estate

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for rentWould you make a good landlord? The job description doesn’t fit everyone. You may want to check out some tips for making your role as a landlord successful before you decide invest in Carolina real estate.

There is a lot of talk about investing in real estate or renting out your real estate now due to the state of the housing market. Some people are looking into the opportunity to snatch up investment properties while housing prices and interest rates are low. Others need to move in order to follow a job, but they’re current mortgages are underwater. Rather than selling at a loss, they’re opting to hold on to the property and rent it out for a time.

The Equifax Personal Finance Blog has tips for you to remember before you make the leap into renting property. Real estate expert Ilyce Glink’s article, “Real Estate Investing: How to Be a Good Landlord,” offers the benefit of her own experiences renting out properties. She also gives a summary of suggestions offered by Robert Shemin, author of Secrets of a Millionaire Real Estate Investor.

  • Don’t expect to become friends with your tenants. Keep it a business relationship because friends may expect more leeway or special treatment – perhaps being late on the rent payment or requesting extras for the home.
  • Be very clear about expectations and policies.
  • Use your current good tenants to help find your next good tenants by enlisting their help.
  • Always run a credit check on potential renters.

And what does your perspective tenant’s car have to do with anything? You’ll have to follow the link to the Equifax Personal Finance Blog

http://www.equifax.com/blog/ to find out!

Conditions for Investing in Carolina Real Estate May Be Optimal NOW

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carolina real estate for sale

The

Equifax Personal Finance Blog is reporting positive news in the lending environment, so maybe things are changing on the economic front. Plus, interest rates on home mortgages just moved up slightly. It may very well be that investors who want to take advantage of the sluggish market should act NOW before the cost to invest increases.

Getting started with your real estate investment business is as easy as using your personal accounts and keeping careful records of expenditures that you put toward your investment property. Then, if you find out you like it and conditions are still good, you can look at ways to formalize your business.

The Equifax article, “

Setting Up Your Real Estate Investing Business,” offers suggestions from RealtyJoin.com co-founder and 20-year investor Andy Heller. He says to start your business by talking with your accountant about your goals. He or she can then advise you on setting up the type of legal entity that will work best in your situation. Many investors, he says, choose an easy-to-start LLC.

After completing the paperwork for your business, contact the IRS to get an Employee Identification Number, or EIN. Take this number to the bank, where someone specializing in working with new business should be able to get you started with the right types of accounts. You may need to shop around to find the best fit for you.

Heller offers more tips at the

Equifax Personal Finance Blog, so check them out. The Blog also offers a way to ask questions of the experts online or to contact Heller directly. If you’re serious about this, you’d better act now before rates see another increase!

Hal Von Nessen Honored for Outstanding Contributions to Housing Industry

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von nessen_molsten 300x250Founder and President of RESH Marketing, Hal Von Nessen, recently received the William “Bill” Molster award from the National Sales and Marketing Council (NSMC) at the 2011 International Builder’s Show in Orlando, Fla.

The annual award is given to individuals who make significant contributions to both the NSMC and the housing industry. It is named after Bill Molster, founder of the NSMC for the National Association of Home Builders.

Von Nessen’s name should sound familiar to anyone in the South Carolina real estate industry, as he was inducted into the South Carolina Housing Hall of Fame in 2010. Since 1995, the Hall of Fame has honored those who have had a major impact on the housing industry through work in building, development or other related areas.

In addition to Hall of Fame honors ,Von Nessen has been recognized by the Institute of Residential Marketing (IRM), receiving the Trina Ripley Award for excellence in education. He is also a member of such prestigious organizations as the NAHB Society of Honored Associates; the Faculties of the IRM; the University of Housing; and the Home Builders Institute.

Von Nessen’s contributions to the South Carolina housing industry, and the real estate market in general, cannot be overstated. Since founding RESH Marketing in 1979, he has assisted in marketing over 15,000 new homes across the nation. Von Nessen has also assisted numerous Home Builders Associations throughout the United States, continuously strengthening the industry. As a result of his hard work and dedication, he was the first person from South Carolina ever elected to serve as president of the NAHB Institute of Residential Marketing.

For more information about Hal Von Nessen and RESH Marketing, contact Theresa Taylor at theresa@resh.com.

Learn How to Organize Success at 2011 Closets & Home Organization Expo

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drawers_thumbnailIf you work in the home organization industry, you know the value of getting the most out of every available space. You’ve shown clients how to organize and take advantage of simple concepts, so why not do the same for yourself? Use the idea of getting the most out of what’s available and attend the 7th annual Closets & Home Organization Conference & Expo in Charlotte, N.C. on February 23 through 25 at the Charlotte Convention Center.

This unique conference, sponsored by CLOSETS magazine and the Association of Closet and Storage Professionals, offers over two dozen profit-driven, educational sessions for home organization professionals including:

  • The Art of Pricing Profitably
  • How to Become a Million Dollar Salesperson
  • Showrooms & Sales Management
  • Business Dashboard and Metrics Management
  • Working with Designers & Architects

There will also be several other events during the conference.

Wood & Wood Products Magazine is hosting an educational Wood Tech Summit where attendees can see presentations and demonstrations of integrated wood manufacturing concepts and advanced technologies.

Custom Woodworking Business and Cabinet Makers Assn. are hosting the 2nd annual Custom Cabinet Conference for cabinet shop executives that will include an expanded curriculum of business, marketing and technology topics. There will also be educational seminars and workshops provided by the CMA Speaker’s Bureau.

If you’re in the home organization industry, do not miss this event. You can learn about the latest products and trends while networking with other industry professionals. Not only did 89 percent of the 2010 show attendees have a role in the purchase of the exhibited products and services , but 69 percent also found new companies to do business with at the expo.

For more information, visit http://www.closets-expo.com.

Why Mortgage Credit Insurance Isn’t the Best for Your Carolina Real Estate

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Carolina real estate insurance

With continuing news of the foreclosure crisis in the U.S., many (city) homeowners are looking for ways to protect their homes and families if they should lose their jobs, become disabled or pass away. Mortgage credit insurance ads are tempting – the product promises to take care of your mortgage in the case of family crisis. But the Equifax Personal Finance Blog offers a warning in the recent article, “

Avoid the Scam of Mortgage Credit Insurance.”

Insurance expert Linda Rey, author of the article, gives two primary reasons mortgage credit insurance is not a preferred option for most homebuyers. First, it’s very expensive. Other insurance options exist that can help with your mortgage and other expenses if needed.

Second, mortgage credit insurance covers a declining liability. As you pay down your mortgage, your policy covers less and less. But your insurer will continue charging you the same high rate.

What other types of insurance does Rey recommend? Disability and term life insurance. She says they help in several different situations and can cover expenses ranging from housing, to medical to other debt obligations.

Rey warns against using a mortgage lender who tells you that mortgage credit insurance is a requirement for your mortgage. Shop around for a lender who doesn’t use practices such as this, which Rey considers “predatory.” The legitimate insurance you may be required to buy is Private Mortgage Insurance. PMI is required on most mortgage loans that are for more than 80 percent of the home’s value. It is a protection for the lender, not the borrower.

You’ll find more information on different types of insurance at the

Equifax Personal Finance Blog, a favorite source for credit, tax, insurance, retirement and real estate information.