10 Tips to R.E Investor

10 Important Tips to Successful Real Estate Investing
Be a Real Estate Investor - 10 Important Secrets

When it comes to investing, everybody has certain goals and
aspirations. However, we have found that there are certain guidelines
every aspiring real estate investor needs to know:

1. Compare Property Values and Rents

Financial statistics only go so far; the best measure of a property's
market value is often the sale prices of nearby properties. The same
holds true for area rents. A low price can often be justified by a
reasonable rent; renters who can afford a high rent can afford to buy
instead, so reasonably priced rent is a need.

2. Be Careful - Tax Laws May Change

Don't base your tax investment on current tax laws. The tax code is
constantly changing, and a good investment is a good investment
regardless of the tax code. The right property with the right
financing is what you should look for as an investor.

3. Specialize In Something You Know

Start in a market segment you know. Whether you focus on fixer-uppers,
foreclosures, starter homes, low-down payment properties,
condominiums, or small apartment buildings, you'll benefit from
experience by specializing in one aspect of investment real estate
properties.

4. Know The Costs Going In!

Know the financial statements inside out. What are operating expenses?
What are loan payments? Vacancy costs? Taxes? What does the cash flow
statement look like? These are key issues that must be addressed
before making a solid investment.

5. Know Where Your Tenants Are Coming From

If the last rent increase was recent, your tenants may be considering
a move. If tenants have a short-term lease, they may be living there
simply to attract unsuspecting buyers. It is also important to collect
the tenants' security deposits at closing.

6. Assess The Tax Situation

Taxes are an integral part of successful real estate investing, and
they often make the difference between a positive cash flow and a
negative one. Know the tax situation, and see how it can be
manipulated to your advantage. It may be a good idea to consult a
tax advisor.

7. Investigate Insurance Coverage

If seller's coverage is based on lower-than-current replacement value,
your insurance cost may increase when you pay a higher purchase price.

8. Confirm Utility Costs

Ask the local utilities to verify recent utility expenses, especially
if any of these costs are included in your tenant's rent.

9. Consult Your Accountant

Taxation is a key element of successful real estate investing, so be
sure to find an accountant who is well-versed with the constantly
evolving tax code.

10. Inspect!

Make sure that you always perform a thorough inspection of the
property before buying it. Never, ever buy any property without at
least examining the site. In some cases, hiring professional
inspectors to examine the structural mechanical system may be a sound
investment.

Visit my site soon for more updated information!

http://www.parkchestercondominium.com/
http://www.thebronxhouse.com/

 

                                               Shariful Islam

Parkchester Condominium Realtor

Shariful Islam (Sharif) licensed Hime Inspector , Our Covered Area: Bayside, Beechhurst, Bellerose, Briarwood, Cambria Heights, College Point, Corona, East Elmhurst, Elmhurst Far Rockaway, Flushing, Forest Hills/Kew Gardens, Fresh Meadows, utopia, Glen Oaks, Hollis, Howard Beach, Jackson Heights, Jamaica, Kew Gardens, Little Neck, Douglaston, Long Island City, Maspeth, Middle Village, Parkchester North, New Hyde Park, Ozone Park, South Ozone Park, Queens Village, Rego Park, Richmond Hill, Ridgewood, Rockaway Park, condo, Rosedale, Saint Albans, Astoria, Bay Ridge, Dyker Heights, Bedford-stuyvesant,Bushwick, Bensonhurst, Bayparkway, Bath Beach, Gravesend, Bergen Beach, Mill Basin, Rockaway, Flatlands, Marine Park, Old mill basin, Brighton, Manhattan Beach, Brooklyn Heights, Dumbo, Cobble Hill, Brownsville, Canarsie, East New York, Carroll Gardens, Parkchester South, Red Hook, Clinton Hill, Navy Yard, Coney Island, Brighton Beach, Crown Heights, Lefferts Gardens, Flatbush, kings, 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3BR Condominium For Sale in Parkchester

Bronx Home Inspection Services

Most common defects.
No house is perfect. Even the best built and best maintained homes will always have a few items in less than perfect condition. Many inspectors will tell you as well as some builders will admit, "there is no such thing as a perfect house." Below are some of the items we most commonly find when inspecting a home:

Roofing: Problems with roofing material are the single most common defect we find. Nail pops, ladder gouges, and improperly installed flashing are common. Usually it doesn't mean the roof needs replaced, simply that it is in need minor repair.

Ceiling stains: Caused by past or present leaks, ceiling stains are very common. It can be difficult to tell whether the stains are from leaks still present, or if they were caused by leaks which have since been repaired.

Electrical hazards: Most common in older homes, but often found in newer homes as well. Electrical hazards come in many forms, from ungrounded outlets to wiring done incorrectly by the homeowner.

Rotted wood: Caused by being wet for extended periods of time, most commonly found around tubs, showers and toilets inside, or roof eaves and trim outside.

Water heater installations: Many water heaters are not installed in full compliance with local plumbing code. Thermal expansion tanks are now required when replacing the water heater.

HVAC Systems/Gas furnace, air conditioners & heat pumps: Rroutine maintenance is often overlooked. Filters may be missing, dirty or incorrectly installed. Connections for condensate piping may be loose and leaking. Systems with inadequate fire clearance, poor flame quality, as well as aging and underperforming systems all need to be checked out .

Plumbing defects: Plumbing issues commonly found include dripping faucets, leaking fixtures, slow drains etc... In new homes, it is common to identify minor plumbing defects such as that water supply connection for the toilet not being securely tightened.

Failing or improperly terminated Gutters: Clogged, damaged or missing gutters means there will be water near the foundation which will eventually make its way into the basement or crawlspace. This can contribute to potential damage to foundations, footings, and structural building components such as eaves and floor joists. Water also attacts unwanted pests like termites.

Bronx Home Inspection Services

15 Tools That Every Homeowner Should Own
by Inspector Shariful Islam ( Sharif )

The following items are essential tools but this list is by no means exhaustive. Feel free to ask an Bronx Home inspector during your next inspection about other tools that you might find useful.


1. Plunger
A clogged sink or toilet is one of the most disturbing problems that you will face. With a plunger on hand, however, you can usually remedy these troubling plumbing issues relatively quickly. It is best to have two plungers -- one for the sink and one for the toilet.

2. Combination Wrench Set
One end of a combination wrench set is open and the other end is a closed loop. Nuts and bolts are manufactured in standard and metric sizes and because both varieties are widely used, so you´ll need both sets of wrenches. For the most control and leverage, always pull the wrench toward you, instead of pushing on it. Also, avoid over-tightening.


3. Slip-Joint Pliers
Use slip-joint pliers to grab hold of a nail, a nut, a bolt, and much more. These types of pliers are versatile because of the jaws, which feature both flat and curved areas for gripping many types of objects. There is also a built-in slip-joint, which allows the user to quickly adjust the jaw size to suit most tasks.


4. Adjustable Wrench
Adjustable wrenches are somewhat awkward to use and can damage a bolt or nut if they are not handled properly. However, adjustable wrenches are ideal for situations where you need two wrenches of the same size. Screw the jaws all the way closed to avoid damaging the bolt or nut.

5. Caulking Gun
Caulking is the process of sealing up cracks and gaps in various structures and certain types of piping. Caulking can provide noise mitigation and thermal insulation, and control water penetration. Caulk should be applied only to areas that are clean and dry.

6. Flashlight
None of the tools in this list is of any use if you cannot visually inspect the situation. The problem, and solution, are apparent only with a good flashlight. A traditional two-battery flashlight is usually sufficient, as larger flashlights may be too unwieldy.

7. Tape Measure
Measuring house projects requires a tape measure, not a ruler or a yardstick. Tape measures come in many lengths, although 25 feet is best. Measure everything at least twice to ensure accuracy.


8. Hacksaw
These are great for cutting metal objects such as pipes, bolts and brackets. Hacksaws look thin and flimsy, but they´ll easily cut through even the hardest of metals. Blades are replaceable, so focus your purchase on a quality hacksaw frame.

9. Torpedo Level
Only a level can be used to determine if something, such as a shelf, appliance or picture, is correctly oriented. The torpedo-style level is unique because it not only shows when an object is perfectly horizontal or vertical, but it also has a gauge that shows when an object is at a 45-degree angle. The bubble in viewfinder must be exactly in the middle, not merely close.

10. Safety Glasses / Goggles
For all tasks involving a hammer or a power tool, you should always wear safety glasses or goggles. They should also be worn while you mix chemicals.

11. Claw Hammer
A good hammer is one of the most important tools you can own. Use it to drive and remove nails, to pry wood loose from the house, and in combination with other tools. They come in a variety of sizes, although a 16-ounce hammer is the best all-purpose choice.

12. Screwdriver Set
It is best to have four screwdrivers: a small and large version of both a flat-head and a Phillips- head screwdriver. Electrical screwdrivers are sometimes convenient, but they're no substitute. Manual screwdrivers can reach into more places and they are less likely to damage the screw.
13. Wire Cutters
Wire cutters are pliers designed to cut wires and small nails. The "side
cutting" (unlike the stronger "end-cutting" style) style is handy, but not strong enough to cut small nails.
14. Respirator / Safety Mask
While paints and other coatings have become less toxic (and lead-free) over time, most still contain dangerous chemicals, which is why you should wear a mask to avoid accidentally getting them in your lungs. A mask should also be worn when working in dusty or dirty environments. Disposable masks usually come in packs of 10 and should be thrown away after use. Full and half-face respirators can be used to prevent the inhalation of very fine particles that ordinary facemasks will not not stop.


15. Duct Tape
This tape is extremely strong and adaptable. Originally, it was widely used to make temporary repairs to many types of military equipment. Today, it´s one of the key items specified for home emergency kits because it is water-resistant and extremely sticky.

In the winter time, the above is a list of tools that every homeowner should have.

We care about your Safety, Money, and Invest

any question about your New Home call sharif's Inspector Team

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