Whether you’re new to real estate investing or you’ve been doing it for decades, everyone has the same goal: to make the most money possible. From limiting the number of improvements you make to looking for foreclosed homes to buy, here are some ways to maximize your real estate investment profits.
Diversify Your Investments
Just as you shouldn’t put all your investment capital into one stock, you may want to consider investing in real estate in several different areas. While you know the market best in your area, the profit potential is limited when you set geographic boundaries.
We all want to know that the water we drink and use in our homes is safe for ourselves and our families. However, even if you receive your water from a municipal source, there can still be many harmful contaminants that may affect your health and damage appliances and fixtures. Read on below to discover the best ways to improve your home’s water quality.
One evening, just as you are about to sit down, you hear a funny noise coming from the ceiling fan. When you look up, you notice the blades slow down until the entire unit shakes and vibrates, then stops.
Over the phone, the repairman advises, “Buying a new one may be cheaper.”.
As the landlord of a rental property, finding and keeping tenants is the best way to protect your investment and build your wealth over time. By being proactive, you can recruit and retain good tenants.
Here’s a quick look at how to find — and keep — tenants to make your income property profitable.
The furnace has been inspected and serviced, and you lower the thermostat when you are away from home, but your heating bill is still taking a big bite out of your budget.
Despite it being frustrating to see such small returns, saving money on your heating bill doesn’t have to be difficult.
Consider adding these small things to what you are doing now and see how much you can save this winter:
1. Dress warm
As much as 5% can be saved on your heating costs for every degree that you lower your thermostat (in the 60 to 70 degree range).
While you are away from home or sleeping, set your thermostat as low as 55 degrees to reduce your heating bill – by up to 20 percent! If you have a heat pump, this won’t work as it requires warmer temperatures to run)