Monthly Archives: July 2020

Home/2020/July

How to Handle Short-Term Rentals During a Pandemic

Owning short-term rentals during a pandemic can be a challenge. One of the industries that got hit the hardest during this pandemic is the short-term rental industry. During the summer, many people rely on short-term rentals to make ends meet during the rest of the year, but because of the concern of the pandemic, some states haven’t even allowed short-term rental properties to open. For those that are allowed to open, there are important things to consider that will make the experience the best it can be given these trying circumstances.

Communicate with Guests

One of the most important things you can do is communicate with your guests. Establish your policies and clearly communicate those with your guests. Let them know what you are doing to keep them safe during this pandemic. For example, if your short-term rental is a bed and breakfast that you rent out to multiple people at a time because you have multiple rooms, you can allow guests the option to come to breakfast in the dining room or stay in their rooms for breakfast. Let them know what your policies are so that nothing surprises them during their stay.

Short-Term Rentals During a Pandemic: Clean Your Properties

During this pandemic, it is of the utmost importance that all short-term rental properties get thoroughly cleaned in-between visitors. Some states have their specific guidelines of what insures cleanliness. An average-sized house can take 1 to 2 hours to completely sanitize. It might even take longer, depending on how in-depth you go with your cleaning procedures. But cleanliness is what reassures guests that they are safe from the virus while they stay in your property, so it is a step to not miss in-between visitors.

Short-Term Rentals During a Pandemic: Flexible Cancellation Policies

Another important thing to consider is flexible cancellation policies. People are scared during this pandemic, and even if they are willing to make travel plans, their plans might change due to the virus. Allow them time to cancel at any time and be understanding if their plans change for any reason. Traveling is stressful at the best of times, but during this pandemic, it’s even more so.

It might be stressful to handle short-term rentals during this pandemic, but you can make the experience as stress-free for your guests as possible by being open with your policies, cleaning your properties thoroughly, and allowing your guests to cancel. Be as accommodating as you can so that their experience with your short-term rental is a positive one.

For more great tips, attend one of our virtual meetings!

See you at a meeting soon!

The Southwest Florida Real Estate Investment Association is the leading source of SWFL real estate investing events that provide investment education and networking in southwest Florida. We analyze the housing market and foreclosures and provide information, education, and networking events in order to build a network and knowledge base for investors and potential investors. Our members include real estate agents, brokers, investors, hedge fund managers, rehabbers, wholesalers, and more.

Our SWFL REIA General Meeting is held in Fort Myers where we provide education on hot topics in investing and an opportunity to enjoy the camaraderie of your fellow investors. You’ll get a chance to ask for advice from successful real estate professionals and even make a few deals on your latest projects.

To become a member, anyone can register as an individual, a couple, or a corporation. Being a member opens the doors for endless networking opportunities, advice from members with decades of experience, new ideas from entrepreneurs, camaraderie with those just beginning, and deals and contracts done in the meeting room. For those interested in Cape Coral rental property investment and/or Fort Myers rental property investment, SWFL REIA will be able to provide a network to help launch a successful investment career.

The SWFL REIA is known and respected as a source of current, actionable and useful information about the housing market in the area that we meet.

We meet twice a month.

Click here for information about the monthly luncheon.  

Click here for information about our nighttime general meeting. 

One of the premier sources for real estate investing networking and education is the SWFL REIA. In the real estate world, the SWFL REIA is different in that it does not do information product sales. Their meetings are focusing on the best ways of investing in real estate by collaborating with other property investors who are sharing their experiences.

We look forward to meeting you at a meeting soon!
Click here for membership information

Get our meeting notices and market data emailed to you.


How to Preserve Your Property Values Over Time

The volatility of the real estate market is concerning for many homeowners. Smart investors position themselves to preserve their property values over time. When everything in the world seems uncertain, homeowners want the security of knowing that their home and property value is safe and secure. While it’s impossible to predict the future, there are a few concrete ways that you can preserve and increase your home’s property values over time.

Make Strategic Upgrades

One of the best ways you can preserve your home’s property value is by making upgrades from time to time; seek to modernize your home or bring it in line with what buyers expect. Today’s buyers are looking for updated kitchens, open floor plans with flexible living space, and energy efficiency. Consider investing in new kitchen appliances, finishing your basement, and lowering your home’s energy costs. These upgrades will increase your quality of living, as well as preserving your property values.

Preserve Your Property Values: Watch for Signs of Damage

As Benjamin Franklin once wrote, “An ounce of prevention is worth a pound of cure.” While this quote is often used in the healthcare community, it’s just as applicable in real estate. It’s important to learn how to spot signs of damage to your home. Watch out for mold, structural damage, and leaks. Even minor leaks can present major issues for your home. Catching (and fixing!) these minor issues early will preserve your property values over time by ensuring that small issues don’t become bigger ones.

Talk to a Professional

If you aren’t sure what you can do to boost your home’s property value, you should look into getting some advice from a professional. Call a sales agent for a consultation; you don’t need to list your property on the market in order to talk to one, and they may notice small problems that can have a big impact on your home. A sales agent can offer a valuable new perspective on your home.

You should also call a home inspector. These inspectors are trained to notice structural or mechanical problems that have the potential to cause damage in the future. They can give you a list of repairs you can make and help you prioritize them in order of importance.

You can preserve the property values of your home by making strategic upgrades and carefully watching for any signs of damage. If you aren’t sure where to start, consider talking to a professional. These three strategies can provide you with the security of a plan for your home’s protection.

For more great real estate investing tips, attend one of our monthly meetings!

See you at a meeting soon!

The Southwest Florida Real Estate Investment Association is the leading source of SWFL real estate investing events that provide investment education and networking in southwest Florida. We analyze the housing market and foreclosures and provide information, education, and networking events in order to build a network and knowledge base for investors and potential investors. Our members include real estate agents, brokers, investors, hedge fund managers, rehabbers, wholesalers, and more.

Our SWFL REIA General Meeting is held in Fort Myers where we provide education on hot topics in investing and an opportunity to enjoy the camaraderie of your fellow investors. You’ll get a chance to ask for advice from successful real estate professionals and even make a few deals on your latest projects.

To become a member, anyone can register as an individual, a couple, or a corporation. Being a member opens the doors for endless networking opportunities, advice from members with decades of experience, new ideas from entrepreneurs, camaraderie with those just beginning, and deals and contracts done in the meeting room. For those interested in Cape Coral rental property investment and/or Fort Myers rental property investment, SWFL REIA will be able to provide a network to help launch a successful investment career.

The SWFL REIA is known and respected as a source of current, actionable and useful information about the housing market in the area that we meet.

We meet twice a month.

Click here for information about the monthly luncheon.  

Click here for information about our nighttime general meeting. 

One of the premier sources for real estate investing networking and education is the SWFL REIA. In the real estate world, the SWFL REIA is different in that it does not do information product sales. Their meetings are focusing on the best ways of investing in real estate by collaborating with other property investors who are sharing their experiences.

We look forward to meeting you at a meeting soon!
Click here for membership information

Get our meeting notices and market data emailed to you.


How to Make Your Properties More Attractive to Families With Children

For single-family homes, families with children are often your tenants. . Property owners often specialize in a certain type of property, and different types of property appeal to different demographics. Single individuals might prefer a studio apartment. A pair of newlyweds might find that an apartment with a single bedroom and bathroom meets their needs just fine. More established families may prefer a single-family house with a yard. If that’s what you specialize in, you might be wondering what you can do to make your properties more attractive to families with children. Here are a few things you can start with:

Make Your Properties More Attractive to Families With Children: Childproof It

The first priority for every parent is the safety of their children. You can make your property more attractive to families with children by adding some childproofing features. You might consider installing locking devices on kitchen and bathroom cabinets and drawers. Windows can be a high hazard area for children too. Cordless blinds are a safer window covering option, since they don’t have cords children can choke themselves on. And as of 2018 corded blinds aren’t available unless you special order them. If your property has a second story above ground, consider adding window guards that can help prevent children from falling from a window.

Focus on the Backyard

Homes with ample yard space for children to run around in can be more appealing to those with children. If you want to capitalize on this, there are some things you can do to make the backyard even more appealing. Fences help parents feel more secure about letting their children play outside without constant supervision. A swing is a simple addition to the backyard for children to enjoy playing outside. This could be as simple as a tire swing hanging from a tree or a more sophisticated swing set. Most kids aren’t going to be picky. Their biggest concern will be whether or not there’s someone around who can push them higher.

Make Your Properties More Attractive to Families With Children: Add a Security System

Security features can also be extra appealing to families. There are many benefits of having a security system in a home, and lots of different pieces of equipment you can choose from. Something as simple as carbon monoxide and smoke detectors can make a life and death difference. Door and window sensors can be handy for letting parents know if little Timmy is heading out the front door, or if a window has been opened. Motion sensors and different types of security cameras can give parents peace of mind when they’re away from home.

Families with children want their home to be a safe, fun place to live. By focusing on making your properties safe and fun, you’ll find they have greater appeal to this demographic.

To get more great investing tips and network with other investors, become a member today!

See you at a meeting soon!

The Southwest Florida Real Estate Investment Association is the leading source of SWFL real estate investing events that provide investment education and networking in southwest Florida. We analyze the housing market and foreclosures and provide information, education, and networking events in order to build a network and knowledge base for investors and potential investors. Our members include real estate agents, brokers, investors, hedge fund managers, rehabbers, wholesalers, and more.

Our SWFL REIA General Meeting is held in Fort Myers where we provide education on hot topics in investing and an opportunity to enjoy the camaraderie of your fellow investors. You’ll get a chance to ask for advice from successful real estate professionals and even make a few deals on your latest projects.

To become a member, anyone can register as an individual, a couple, or a corporation. Being a member opens the doors for endless networking opportunities, advice from members with decades of experience, new ideas from entrepreneurs, camaraderie with those just beginning, and deals and contracts done in the meeting room. For those interested in Cape Coral rental property investment and/or Fort Myers rental property investment, SWFL REIA will be able to provide a network to help launch a successful investment career.

The SWFL REIA is known and respected as a source of current, actionable and useful information about the housing market in the area that we meet.

We meet twice a month.

Click here for information about the monthly luncheon.  

Click here for information about our nighttime general meeting. 

One of the premier sources for real estate investing networking and education is the SWFL REIA. In the real estate world, the SWFL REIA is different in that it does not do information product sales. Their meetings are focusing on the best ways of investing in real estate by collaborating with other property investors who are sharing their experiences.

We look forward to meeting you at a meeting soon!
Click here for membership information

Get our meeting notices and market data emailed to you.


3 Important Steps to Take Before Closing on Your First Investment Property

Few things are more exciting than your first investment property. You’ve made a big step and purchased your first home to flip. But before you can get started with the renovation process, you’ll need to close on the house. Closing is the process of making sure everything is final, with the seller, with your real estate agent, and with the bank. It’s a process that can be time-consuming, but it is an essential step to making sure that everything is processed correctly.

Your First Investment Property: Get Approved by the Bank

One of the first steps you need to do is make sure that you get approved by the bank for your mortgage payment. You will need to bring your credit score, the debt you owe, your monthly income and proof of employment, and how much you can put down for the house. However, even after you get approved, you must stay on good terms with the bank by keeping your credit score constant. Most lenders require you to have a credit score of at least 680 in order to get approved, so you’ll need a good credit score to begin with. But if that score falls, the mortgage lender can put a stop to the mortgage loan and prevent you from closing on your house.

Have a Thorough Home Inspection

After you are approved, you’ll need to make sure that a thorough home inspection (and home appraisal) are conducted before you buy the house. You’ll want to make sure that everything is approved and inspected for possible errors. One of the major things to know is there are several common foundation repairs that may need to be made before you buy any house. You want to make sure your house is inspected thoroughly before you close on it.

Your First Investment Property: Have a Final Walkthrough

In addition to a thorough home inspection, you’ll want to make sure you do a final walkthrough. This is usually done 24 hours before closing on the house. During the final walkthrough, you personally walk through the house and double-check that everything is as it should be for this house you’re about to close on to make sure that you’re aware of everything and that everything meets your expectations.

There are other steps you’ll also need to take to close on a house, but these three are crucial steps that should not be left out. Doing these things will help to make sure the buying process goes smoothly.

Ready to start your real estate investing journey? Become a member today!

See you at a meeting soon!

The Southwest Florida Real Estate Investment Association is the leading source of SWFL real estate investing events that provide investment education and networking in southwest Florida. We analyze the housing market and foreclosures and provide information, education, and networking events in order to build a network and knowledge base for investors and potential investors. Our members include real estate agents, brokers, investors, hedge fund managers, rehabbers, wholesalers, and more.

Our SWFL REIA General Meeting is held in Fort Myers where we provide education on hot topics in investing and an opportunity to enjoy the camaraderie of your fellow investors. You’ll get a chance to ask for advice from successful real estate professionals and even make a few deals on your latest projects.

To become a member, anyone can register as an individual, a couple, or a corporation. Being a member opens the doors for endless networking opportunities, advice from members with decades of experience, new ideas from entrepreneurs, camaraderie with those just beginning, and deals and contracts done in the meeting room. For those interested in Cape Coral rental property investment and/or Fort Myers rental property investment, SWFL REIA will be able to provide a network to help launch a successful investment career.

The SWFL REIA is known and respected as a source of current, actionable and useful information about the housing market in the area that we meet.

We meet twice a month.

Click here for information about the monthly luncheon.  

Click here for information about our nighttime general meeting. 

One of the premier sources for real estate investing networking and education is the SWFL REIA. In the real estate world, the SWFL REIA is different in that it does not do information product sales. Their meetings are focusing on the best ways of investing in real estate by collaborating with other property investors who are sharing their experiences.

We look forward to meeting you at a meeting soon!
Click here for membership information

Get our meeting notices and market data emailed to you.


How to Use Your Home Equity as a Finance Tool

Do you have at least 20% home equity? Then a HELOC, or home equity loan, may be just the financial tool you need to improve the value of your home and finance other endeavors. Luckily, there are several different ways you can use your home equity as a financial tool.

Use Your Home Equity: Urgent Repairs

Everyone experiences “rainy days,” and it is important to keep your home well-maintained so that further damage doesn’t occur in the future. A home equity loan, or HELOC, is great to use for these unexpected and emergency repairs. In fact, a home equity loan remains tax-deductible as long as you’re using money from the loan to finance needed repairs that improve your home’s value. In the end, it can be a win-win situation—an extra boost of help for you that both makes repairs cheaper in the end and enhances the value of your home.

Planned Renovations

Since using a home equity loan or HELOC offers you a tax-deductible opportunity to improve the value of your home, you may want to consider using a HELOC for renovations and additions to your home.

An option that may be a better is a more energy-efficient roof. Fortunately, there are all kinds of roof types for different budgets. If you want to play it safe and install a cheaper but durable roof, asphalt shingles are the right option for you. However, the value of your home will increase with a roof that reflects heat away from the home. Since new roofs can be expensive, consider using a home equity loan to supplement the expenses.

Use Your Home Equity: Debt or Large Purchases

While you should never jump into a loan without careful consideration, a HELOC may be a useful method to collect some extra funds for paying off mounting debts or financing an expensive purchase, like a car. A home equity loan can be a useful tool given its flexible nature, adjustable rates, and relatively lower interest. However, there are always circumstances where banks may change the interest rate for a HELOC. So, before you put money down on that new truck, make sure you talk to your bank representative ahead of time as well as have a solid plan for how you will pay the loan back.

If you’re wanting to round up a bit of extra cash for an expensive purchase or home remodeling, then a HELOC may be the right choice for you. However, be sure to do adequate research and planning before taking out a home equity loan so that you don’t run into any unexpected, financial issues.

Wanting to get into the real estate investing game? Become a member of the SWFL REIA today!

See you at a meeting soon!

The Southwest Florida Real Estate Investment Association is the leading source of SWFL real estate investing events that provide investment education and networking in southwest Florida. We analyze the housing market and foreclosures and provide information, education, and networking events in order to build a network and knowledge base for investors and potential investors. Our members include real estate agents, brokers, investors, hedge fund managers, rehabbers, wholesalers, and more.

Our SWFL REIA General Meeting is held in Fort Myers where we provide education on hot topics in investing and an opportunity to enjoy the camaraderie of your fellow investors. You’ll get a chance to ask for advice from successful real estate professionals and even make a few deals on your latest projects.

To become a member, anyone can register as an individual, a couple, or a corporation. Being a member opens the doors for endless networking opportunities, advice from members with decades of experience, new ideas from entrepreneurs, camaraderie with those just beginning, and deals and contracts done in the meeting room. For those interested in Cape Coral rental property investment and/or Fort Myers rental property investment, SWFL REIA will be able to provide a network to help launch a successful investment career.

The SWFL REIA is known and respected as a source of current, actionable and useful information about the housing market in the area that we meet.

We meet twice a month.

Click here for information about the monthly luncheon.  

Click here for information about our nighttime general meeting. 

One of the premier sources for real estate investing networking and education is the SWFL REIA. In the real estate world, the SWFL REIA is different in that it does not do information product sales. Their meetings are focusing on the best ways of investing in real estate by collaborating with other property investors who are sharing their experiences.

We look forward to meeting you at a meeting soon!
Click here for membership information

Get our meeting notices and market data emailed to you.


Smart Rental Property Moves That Can Save You Money

Owning some smart rental property is a great way to achieve a passive income. Unfortunately, some people run into trouble with renting because they don’t know all the tricks of the trade. If you want to increase your margins and save yourself some money, try these three tips.

Smart Rental Property Moves: House Hacking

House hacking is a great way to get into real estate if you have no experience. House hacking refers to the practice of renting out a portion of your primary residence. This can help you pay for some or all of your mortgage payments. Essentially, your tenant is going to buy the home for you. This can partially or fully eliminate the single biggest expense that you are facing. That leaves you free to take the money you would be using for a mortgage and invest it in other places.

House hacking works best if you have a mother-in-law apartment. This will allow you to live separate from your tenant. If you have a small family, you can increase your margins by living in the mother-in-law apartment and renting the larger portion of the home.

Transfer to an LLC

Many people make the mistake of owning their own rental properties. This unfortunately leaves you open to a whole host of liability concerns. It is far better to own nothing, but control everything. You can do this by setting up a business entity like an LLC. Transferring your property to an LLC can help you avoid personal liability.

The only asset that your LLC should hold is the rental property. When rent is paid to the LLC account, you should immediately transfer it to your personal account. This way, if someone files a lawsuit against your LLC, the only thing that they can take is your rental property. Your personal funds and personal property are all protected.

Smart Rental Property Moves: Preventative Maintenance

Maintaining your home can be costly. It may seem odd, but the secret to saving money with maintenance is to spend more money. By spending more money now, you spend less in the future. It is much cheaper to clean and fix small problems, than it is to repair large problems. For example, refilling the grout in a tiled bathroom isn’t nearly as expensive as fixing the water damage that will occur if water soaks through the cracks.

As always, you should be keeping very precise records on all your financial transactions. Doing so will help you to save money and take advantage of tax deductions. Know the rules and regulations that surround your rental ventures. The more you educate yourself, the more you will be able to do.

Want to get started in Smart Rental Property real estate investing? Learn more about it at one of our monthly meetings!

See you at a meeting soon!

The Southwest Florida Real Estate Investment Association is the leading source of SWFL real estate investing events that provide investment education and networking in southwest Florida. We analyze the housing market and foreclosures and provide information, education, and networking events in order to build a network and knowledge base for investors and potential investors. Our members include real estate agents, brokers, investors, hedge fund managers, rehabbers, wholesalers, and more.

Our SWFL REIA General Meeting is held in Fort Myers where we provide education on hot topics in investing and an opportunity to enjoy the camaraderie of your fellow investors. You’ll get a chance to ask for advice from successful real estate professionals and even make a few deals on your latest projects.

To become a member, anyone can register as an individual, a couple, or a corporation. Being a member opens the doors for endless networking opportunities, advice from members with decades of experience, new ideas from entrepreneurs, camaraderie with those just beginning, and deals and contracts done in the meeting room. For those interested in Cape Coral rental property investment and/or Fort Myers rental property investment, SWFL REIA will be able to provide a network to help launch a successful investment career.

The SWFL REIA is known and respected as a source of current, actionable and useful information about the housing market in the area that we meet.

We meet twice a month.

Click here for information about the monthly luncheon.  

Click here for information about our nighttime general meeting. 

One of the premier sources for real estate investing networking and education is the SWFL REIA. In the real estate world, the SWFL REIA is different in that it does not do information product sales. Their meetings are focusing on the best ways of investing in real estate by collaborating with other property investors who are sharing their experiences.

We look forward to meeting you at a meeting soon!
Click here for membership information

Get our meeting notices and market data emailed to you.


Go to Top