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A 1031 Exchange gets its name from Section 1031 of the U.S. Internal Revenue Code. If you abide by all its requirements, you may be able to defer taxes on capital gains almost indefinitely. Is there a cap on how many exchanges you can do under a 1031 Exchange in Florida? Absolutely not! You can do as many as you want. Consequently, you may be able to build significant wealth quickly. For a 1031 Exchange to be successful, an investor will need to follow certain rules. The following are answers to commonly asked questions regarding 1031 Exchang…

Selling a property can be a time-consuming process. Real estate and rental transactions involve more than just matching a property with a buyer or renter. The process can also include inspections, showings, and constant communication before the deal is closed. One of the important steps in the selling process is listing the property on the real estate market. Online listings have become an important marketing tool that can potentially reach a wider audience than the traditional methods of marketing. A good property listing, therefore, plays a…

You’ve invested a lot of time and money into your Florida rental property therefore it’s only normal that you want that generate passive income. This, however, will only be possible if you have a steady stream of tenants or trusted long-term ones. A rental property will probably experience periods of vacancy from time to time. Vacancies can be the result of market trends, poor advertising, high rent rates or, any other number of reasons. While some of these reasons may be out of your control, there are several ways you can get ahead of having…

Landlords try to minimize expenditures as much as possible, so why should you consider performing renovations? As the adage goes, "if it isn't broken, why fix it?" However, renovations can be categorized as additional investments. Experience has shown that properties with more updated renovations attract more interest and inquiries. Knowing this, part of improving the value of your home is to spend on upgrades. Benefits of Renovations Creates market differentiation In a sea of similar property offerings in the market, your rental …

As a property owner, can you relate to this scenario? A tenant has moved out of your rental property and you arrive to inspect the location. You expect to spend a couple of hundred dollars on minor cleaning and touch-ups, such as replacing or repairing worn-out carpets, scuffed walls, aged-looking stovetops and nail holes. Though, the reality you face is weeks of work and thousands of dollars spent on damage repair. There is a point where the tenant's mark on your property leaves the realm of wear-and-tear and becomes an actual damage to the a…