Holly Welles
Holly Welles is a freelance real estate writer & blogger covering property management, investment and market trends. She's the editor of The Estate Update, a residential real estate blog for renters and homeowners alike.
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How to Get Involved In Real Estate Investing In Your 20s
About 85% of millennials believe real estate is a good financial investment — and they aren’t wrong. Unlike the stock market, real estate investing allows you to collect cash flow — or immediate financial returns. Plus, there are tax benefits, the possible appreciation of your property and equity paydown. At the very least, your profits will help you pay the mortgage — and even your own bills.Here are a few ways to enter the industry and start investing in your 20s.1. Educate YourselfInvesting in real estate doesn’t require formal training or a college degree. However, if you want to succeed,…
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Essential Fall Maintenance for Rental Properties
We’ve crossed the midpoint and left the first half of the year behind us. Fall is approaching, and it’s the perfect time for landlords and property managers to start thinking about the maintenance their properties will need to keep running smoothly through the cold winter months.Maintenance not only keeps tenants happy, but it allows investment properties to stay in good condition for years to come — without spending more repairing unexpected breakdowns. Here is a list of essential fall maintenance tasks for rental properties:1. Sealing Against Cold WeatherEven if you don’t pay for utilities, no one likes a cold house…
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How To Avoid Security Deposit Drama
You want to do right by your tenants, just like they want to do right by you. So it’s important to make the rental process as easy and understandable as possible for everyone. In a best-case scenario, your renter will get their whole security deposit back because they’ve taken such great care of your space. Then, you don’t need to make repairs or do extra cleaning before passing the keys along to someone else.Unfortunately, not all situations play out that way. Some tenants really do a number on a place. Others have had experiences in the past where landlords will…
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How To Market Your Rental Vacancy In A Slow Winter Season
Is your property experiencing the winter blues? Colder weather is traditionally a time when real estate slows down. People don’t want to go out into the nasty weather to look at properties, and only those who are forced to will relocate during the chilliest of days. If your property becomes vacant just before or during the winter season, you may need to turn to creative measures to get it rented.The National Association of Realtors (NAR) reports that, each year, sales slow from about November through February, with January being the slowest month. When spring arrives, sales tick upward again.February and March…
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How To Reduce Your Ongoing Maintenance Costs
As a property manager or landlord, it’s your job to keep your units safe and well-maintained. As a result, you can expect to spend a fair amount on maintenance every month. If you manage multiple properties or a building with many units, these upkeep costs can stack up quickly.Unfortunately, you can’t plan for every problem a unit or property may develop. Extreme weather events, pest infestations, plumbing leaks and more can all wreak havoc suddenly. However, you can keep ongoing maintenance costs to a minimum by conducting preventative maintenance. This involves checking your properties for damage and acting before potential…
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Senior Housing Trends That Impact Real Estate Investors
If you’re a real estate investor, the ultimate goal is getting the most bang for your buck. The older population continues to grow across the U.S., and this generational shift creates new revenue streams to explore.What trends dominate senior housing? From aging in place to the growing number of people with chronic health conditions, investors should keep up with the latest trends if they want to pad their bottom line. In-Law Suites Gain PopularityOne of the hottest senior living trends is aging in place, which housing experts define as exercising control over where they live. Not all members of this population…
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Why Are 18-Hour Cities Great for Investment?
You are probably familiar with 24-hour cities such as New York or Los Angeles, where the city never truly sleeps and people work around the clock. However, 18-hour locales are becoming more commonplace and offer some investment advantages over larger metropolises. For one thing, 24-hour cities are noisy and lack of sleep can be detrimental to one’s health over time.A dramatic increase in home prices in the gateway cities of San Francisco, New York, Los Angeles, Chicago, Boston and Washington, D.C., has driven millennials to more affordable but still urban locations. Popular places include Denver, Portland, Seattle, Nashville, Atlanta, Salt…
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How to Fix up Rental Properties Without Overspending
Your rental property is an ongoing investment. It may earn you a steady source of income, but it also demands a substantial sum of money in return. Without your attention, it’ll gradually fall into disrepair and lose its value, making it far more difficult to find tenants and maintain profitability.Fortunately, it’s easy to fix up your rental property without exceeding your budget. When you take a strategic approach and prioritize your renovations, you’ll secure your investment and ensure your continued success. So where should you spend if you want to improve the quality of your rental?1. Repaint the Rental’s ExteriorDoes…
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How to Budget for Luxury Property Upgrades
Investing in real estate is always a little risky. If the market has a sudden downturn or something changes in the neighborhood, you could have trouble leasing units and wind up losing money. However, adding luxury properties to your existing investment portfolio gives you a rental option that isn’t as dependent on the current economy or shifts in the local housing market.Like any market, luxury investments have their ups and downs. But careful planning and some market savvy can go a long way in protecting your investments. Here are some ideas for investing in a luxury property without risking your…
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When Does Hiring a Property Manager Make Financial Sense?
When you first start buying investment properties and renting them, it makes sense to do all the work yourself and keep costs low. However, there comes a point where freeing up your time to focus on acquiring more properties and bringing in more money makes more sense. How do you know when the time arrives?What does a property manager take off your plate, and is it worth the cost? An average property manager interacts with applicants and tenants, helping sort through the screening process. They also collect rent and organize repairs. Here are some of the benefits of hiring a…
