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Carlisle Mitchell

Insider Tips for Real Estate Investors

By Carlisle Mitchell | Real Estate Pro in Houston, TX
  • How Major Corporations and College Towns Provide Tenants For Investors

    Posted Under: How To... in Philadelphia, Rentals in Philadelphia, Investment Properties in Philadelphia  |  July 21, 2014 1:07 AM  |  170 views  |  No comments
    Some people choose to rent because they're involved in an activity that requires them to live away from their hometown on a temporary basis. For example, students attending college and contract workers may prefer to rent because they can't afford to buy a home or because they're current residency is temporary. These areas make great rental markets. 

    Philadelphia, Pa. or Baltimore, Md. are examples of college or corporate towns with reasonably priced rental real estate and higher than average rents. Baltimore saw a 21.32% gross rental yield in Q2 of 2014 while Philadelphia County saw 20.78%.
  • Millennials and Baby Boomer Tenants for Investors

    Posted Under: Market Conditions in California, Rentals in California, Investment Properties in California  |  July 21, 2014 12:48 AM  |  84 views  |  No comments
    Carlisle Mitchell - Real Estate Tips for Investors

    If you are a real estate investor looking to expand your rental property portfolio, keep an eye out for cities, towns and neighborhoods with large and growing populations of millennials and baby boomers – two demographic groups likely to rent in the near future, but for different reasons. 

    Millennials often rent because they can't yet afford to buy a home, but don't yet want the responsibility of home ownership; while baby boomers often feel the need to downsize as their children grow up and leave home, but they may prefer to rent until they find a smaller home to buy.
     
    Visit the United States Census Bureau Population Estimates site to get the most recent figures on populations by age group for counties across the country, as well as information on whether these populations are growing or shrinking in each area. 

    Examples of areas with large numbers of potential millennial and baby boomer renters are Placer County in the Sacramento, Calif. area and Charleston County, S.C.
  • Deed of Surrender

    Posted Under: Rentals in Houston, Home Ownership in Houston  |  June 12, 2014 10:56 AM  |  180 views  |  No comments
    Deed Of Surrender is a legal document transferring property ownership for a given time period, provided certain conditions are met. A deed of surrender allows one party, such as a renter, to relinquish his or her claims on a particular piece of property to the party holding the underlying title (the landlord). Once the deed of surrender has been signed, any outstanding claims on the property can be resolved. 

    A deed of surrender can be used to terminate any commercial property lease and/or relieve tenants of their lease obligations. In exchange for giving up their rights to a property, the tenant is released from further claims and demands by the landlord, and the landlord is released from further claims and demands by the tenant. The deed of surrender outlines each party’s rights.  
    A deed of surrender is typically used in situations where the landlord and tenant are on (at least) somewhat good terms. If either party has breached the lease contract, ending the legal relationship becomes more complicated. For example, if a tenant owes a landlord several months’ back rent that the landlord intends to collect, the landlord may not execute a deed of surrender, because that would give up the rights to back rent.

    The deed of surrender states the condition in which the tenant will leave the property, affirms the tenant has fulfilled any financial obligations to the landlord, states the landlord has returned the tenant’s deposit or a portion thereof, or that the tenant is not due a refund of deposit at all. The document is signed by both the landlord and tenant, as well as by a witness like a notary public. 

    For more information about home ownership visit us online at carlisle-mitchell.com
  • Renter's Insurance

    Posted Under: Rental Basics in Houston, Home Insurance in Houston, Rentals in Houston  |  June 11, 2014 8:13 AM  |  277 views  |  No comments
    Renter's Insurance is a form of property insurance that provides coverage for a policy holder's belongings and liability within a rental property. Renter's insurance applies to persons renting or subletting a single family home, apartment, duplex, condo, studio, loft or townhome. The policy protects against losses to the tenant's personal property within the rented property. In addition, a renter's insurance policy protects against losses resulting from liability claims, such as injuries occurring on the premises that are not due to a structural problem with the property (in this case, the owner's - not renter's - policy would apply). 

    Increasingly, proof of renter's insurance is required by many landlords. Personal belongings within a rented property are typically not covered under the owner's or landlord's property insurance. For example, if a flood or fire destroys all the personal property within a rented apartment, the structure would be covered under the landlord's policy, but the personal property would only be covered through a renter's insurance policy. Without this coverage, the tenant would be responsible for the loss out-of-pocket. 

    For more information about rentals visit us online at carlisle-mitchell.com
  • Capitalization Rate

    Posted Under: Rentals in Houston, Investment Properties in Houston  |  June 6, 2014 7:23 PM  |  146 views  |  No comments

    Capitalization Rate (Cap Rate) is a ratio used to estimate the return on investment of a real estate investment property, like an apartment building. It is calculated by dividing the income a property will generate in a given year (after fixed and variable costs) by the purchase price or current value of the property. For example, an apartment building that recently sold for $1,000,000 and generates $100,000 in income after expenses has a capitalization rate of 10%.

    For more information about investment properties visit us online at carlisle-mitchell.com

  • Income Property

    Posted Under: Home Buying in Houston, Rentals in Houston, Investment Properties in Houston  |  June 6, 2014 4:52 PM  |  230 views  |  No comments

    Definition of income property

    Property bought or developed to earn income through renting, leasing or price appreciation. Income property can be residential or commercial. Residential income property is commonly referred to as "non-owner occupied". A mortgage for a "non-owner occupied" property may carry a higher interest rate than an "owner occupied" mortgage as it is viewed by lenders as a higher risk. 

    A common practice during periods of home price appreciation is for investors and speculators to purchase residential income properties with the intent that rents will cover their monthly expenses for a period of time until the property can be sold for a large capital gain. As with all markets during times of fast price appreciation, and as with all market bubbles, those that enter the market first and get out first usually do well. Those that enter the market later, and get out last usually don't do as well. 


    For more information about income property visit us online at carlisle-mitchell.com


  • Multi Family Investment Properties

    Posted Under: Rentals in Houston, Investment Properties in Houston  |  June 5, 2014 10:43 AM  |  135 views  |  No comments
    Multi-Family Investment Property is a type of home or building with multiple units owned by one or more parties. Condo buildings and duplexes can be considered multi-family residences; but with a duplex, both the property and the land are recorded on one deed. Whereas with a condo, the owners only own their individual units, not the common space or land, and each have their own deed.

    For more information about investment properties visit us online at carlisle-mitchell.com


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