Tom Donnell

    Tom Donnell's Articles

    • How To Collect Rent After Tenant Breaks the Lease

      Q: If a tenant moves out and breaks the lease, how do you go about making him liable for the rent? If he moves, I would not know where he went or how to track him down. Since moving in, I know he has changed jobs so that would not be an option. How do you go about making him responsible for the rest of the lease. Hiring a lawyer is out of the questionIf the tenant is still in the property but threatening to leave early, there are basically two options: give the tenant a warning that you intend…

    • 5 Keys To Profitable Rentals

      I’m back! I’ve been on a well deserved vacation with my wife, kids and Grandkids. What a wonderful time I’m having! But I wanted to get this out to all you would-be investors and property rental owners. This is a “must” for your success in rental properties.One of the best ways to ensure the profitability of your rentals is by actively managing those properties throughout the year.Active management requires more than being present or available for your tenants. It means honing a special set of communication skills.Here are some tips that can help make 2013 a more prosperous new year:Every…

    • Deceased Kids’ Identities Stolen For Tax Scam

      It’s bad enough when a child dies, but having their identity stolen months or years after their death can bring up the entire old trauma all over again. That is exactly what is happening to parents around the country in the wake of tax season as they discover that crooks and con artists have used their dead children’s’ identities to file fraudulent returns.Thieves target children in particular who have died within 12 months of the current tax season because these deceased children can be claimed as dependents on the existing tax returns.The information needed is fairly insecure, recounts one mother,…

    • Street-Related Property Pitfalls That Are Easy To Miss

      You know that due diligence is vitally important to any investing decision. You probably find it second nature to handle title searches, have contractors give you repair estimates, and do your own “background check” on properties before you buy.However, there is a certain type of property problem that lurks in plain sight, but often is missed completely by investors who invest in areas other than their own geographic region or who are too narrowly focused on the potential deal itself.These pitfalls are the “3 P’s” of Street-Related Problems, and they can create a scenario in which you are completely unable…

    • How To Sign In Behalf Of A Limited Liability Company?

      When a real estate investor thinks of asset protection the LLC is the first entity that typically comes to mind. As it should because the LLC is the primary defense for investors from lawsuits stemming from harm associated with real estate.Avoid Personal Liability by Signing Contracts Correctly One major reason for forming your LLC in the first place (or incorporating any business entity), is to insure that your business liabilities do not affect your personal assets. In other words, a business debt should not become a personal debt. When signing a contract, it is critical that the contract reflects the fact…

    • Should Investors Require Renter’s Insurance?

      Renters often believe the landlord is liable for everything that happens on the property–including any damage to their personal belongings. But this is not always the case.More likely, the landlord’s insurance will only cover damage to the building, while an uninsured tenant will have to pay to replace their belongings.The majority of tenants take a pass on renter’s insurance. Some are not aware of it. Others don’t think it is worth the cost.Renter’s insurance provides valuable protection, and is not expensive compared to the value of the tenant’s possessions. Moreover, a renter’s policy may cover more than just belongings. It…

    • How Do Parks And Recreational Spaces Effect Your Investments?

      Sometimes there is more to a pleasant park than meets the eye. In fact, on some occasions you may actually lose value in a property if the recreational area is poorly policed or badly maintained.Particularly in today’s housing market, which sports many vacant houses and localities in which property taxes simply do not cover park maintenance anymore, it is vitally important that you are able to effectively and accurately evaluate local parks and recreation areas.For starters, check out the vacancy rate in local homes. If the rate is high, then it’s likely that the parks may be suffering as well…

    • 5-Tips For Surviving The Housing Market

      The economy is starting to improve but the housing market has yet to show any significant signs of recovery, which has homeowners nervous. Home prices are hovering near their recession lows, hit in April 2009, according to the latest Case-Shiller home-price report. It’s a buyer’s market and by many projections, it won’t shift to a seller’s market for a good year or more.So, how do homeowners, who have most of their equity in depressed real estate, slog through until it becomes a seller’s market?Here are 5 tips from real-estate moguls who have survived several housing-market downturns.1. Homeowners should be very encouraged…

    • Bargain Prices Help Reduce Glut Of Foreclosures

      A wave of foreclosures is forcing down home prices in most major U.S. cities. But economists and real estate agents are noticing what they call a key first step for any housing recovery: a drop in the glut of homes for sale in markets hit hardest by foreclosures.Low prices are leading investors to snap up foreclosed homes in Detroit, Las Vegas, Miami, Phoenix and Tampa. Those cut-rate sales are reducing prices in the short run. Yet they’re also thinning the supply of homes — clearing the way for higher prices in the long run.For some buyers, the deals are now…

    • Find A Way Or Make One

      If your frustrated with the lack of opportunities that have not come your way, why not create one? Success is never an accident. It typically starts as imagination, becomes a dream, stimulates a goal, grows into a plan of action-which then inevitably meets with opportunity. Here are a few tips to move from stuck to satisfied.1 – Eighty five percent of the process of finding an authentic fit for your career comes from looking inward. We often put the cart before the horse by searching out the hottest business opportunities without doing a reality check to make sure they’re right…

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