Looking to Move into an Attached Home? Consider One of These 5 Types

Moving is said to be one of the most stressful events in a person’s life.  Because it’s so stressful, it’s important to do your homework before making any big decisions along the way.  Don’t let excitement or any other type of extreme emotion tempt you to rush through the process.  In order to help make this easier for you, I’m going to provide you with a list of five different attached homes for you to consider.  After reviewing this list, you should have a much better understanding of what will best meet your needs.

Before deciding which type of attached home you want, ask yourself, “What are my needs for a home?” If you are looking for something minimalistic and small, you may want a tiny home.  If you are looking for something elaborate, posh, and private, you may want a single family home.  If you are looking for something in between, you may want a condo.  In this article, however, I’m going to review just the five major different types of attached homes.  Regardless of your needs, there is something out there just for you that can make your living tastes come to life.

ATTACHED HOMES

These homes vary in style and use.  Attached homes usually come in the form of five different types of dwellings, which include the following:

Cooperative Homes: Cooperative homes, also known as co-ops, are used by people who possess shares in a business that owns the home.  This gives each of the unit-dwellers the right to live in a unit within the home.

Terraced Homes: A terraced home, also known as a row- or townhouse, are homes that are all a part of one long, continuous building that only has walls to separate each unit, not outdoor space.

Condos (Condominiums): Condos, which are akin to apartments and multi-family homes, are units within a building that residents have ownership of, not just units they are renting.  Condo setups can vary drastically depending on where the condo is located and what type of building the condo is in.

Multi-Family Homes: These types of dwellings are also similar to condos and apartments.  This is where someone rents a unit in a building that takes up an entire floor of the building.

Apartment Homes: Apartments are usually rented by residents and are housed in buildings that are specifically designated as apartment buildings.

Now that you’ve learned about attached homes, learn about semi-detached, detached, and portable homes here!

Do you want help with finding the right place for you? Reach out to me here!

What Home is Right for Me? Consider 1 of These 4 Types of Dwellings

Finding a new home can be overwhelming and stressful.  But, it doesn’t have to be that way! People often dive right into the ideas of where they want to live and what their home might look like before considering all of their options.  Never to fear, however.  I’ve provided four different types of homes you should consider before settling on any one specific type!

Attached Homes

Attached homes usually have multiple units and/or families in them.  Learn about each of the five major types of attached homes here.

Semi-Detached Homes

Semi-detached dwellings can usually be found in the form of a duplex (comprised of two units), triplex (comprised of three units), or quadraplex (comprised of four units).  Each one of these types of homes allows for people to either purchase or rent the units, while usually, people rent them.

Detached Homes

Single family detached homes are the main type of detached home.  They can range from mansions to small and almost portable homes.  Depending on the size of the home, the asking price vastly differentiates.  Sometimes, single family homes can be extraordinarily small, yet extraordinarily pricey.  Have you heard the common phrase, “Location, location, location?” You probably have heard that because that is usually what will draw and keep real estate agents’ customers with the agent and encourage the customers to purchase or rent a particular home.  The location is what will keep someone grounded in the process of finding a new home, and it usually is the tipping point for the customer between one home over another.

Portable Homes

The number of different types of portable homes are almost endless.  From mobile homes to tents, boat homes to tiny homes, each of these different types of homes offer unique, miniature amenities.

Mobile homes are usually the size of a trailer and are ranch-style, meaning that they are one story high.  They can be put on wheels and moved, but it is quite a hassle to do so.  Tents have ceilings, walls, and floors, but they are all made of some kind of fabric.  Boat homes usually float on water and can range from multi-millions of dollars all the way down to thousands of dollars.  Lastly, tiny homes are often built on trailers so that they can easily be moved.  They usually hook up to water and sewage lines in trailer parks, such as Kampgrounds of America (KOA), and moved anywhere you want, really.

Want help choosing the right home for you? Reach out to me here!

The Ultimate Real Estate Investment Guide for Beginners: Must-Read Books

"The Ultimate Real Estate Investment Guide" is a series of blogs focused on providing resources to people who are new to real estate investing.

For any beginners out there, this particular blog post discusses five books you should get your hands on if you want to become well acquainted with real estate investing.

These books cover a vast array of topics, including but not limited to strategies used by multimillionaire-real-estate investors, incorporating properties into your investment plan, working with property valuation, accumulating wealth is any kind of market, what types of niches exist in real estate, myths that hold potential investors back, negotiating, and investing with little to no money down.  Find this blog here.

The Ultimate Real Estate Investment Guide: Comprehensive Resource Guides

"The Ultimate Real Estate Investment Guide" is a series of blogs focused on providing resources to fresh faces in real estate.

For any beginners out there, this particular blog post in the series focuses on a conglomeration of comprehensive resource guides that numerous websites provide.

By giving you access to all these guides, I hope to encourage you to sift through not only my blog, but other blogs out there, as well.  This will help you to gain real estate insights you never thought you could have, as you will be searching through the blogs of people who have various perspectives on the market place.  With this first blog, dive in and dive deep.  There is plenty to discover!  Find this blog post here.

How to Become a Fair, Reasonable, and Profitable Landlord in 6 Simple Steps

Owning and managing rental properties can be exhilarating. From working with tenants to keeping the landscape fresh and clean, there are numerous ways of managing a property that can bring joy and profitability to not only you but your tenants, as well. You will profit financially, while they will profit from the value added to each property you lease to them. Becoming a landlord is no small task, but it is highly rewarding. Here are a list of ways to prepare to become a landlord.

1) Live Near Your Properties
Make sure you live near the properties you are interested in. If you purchase and manage properties that are far away from you, you will have a more difficult time keeping up with maintenance and making sure the staff is doing things correctly. Make sure to check the property regularly for any needs it may have.

2) Know the Law
There are many laws governing landlords and tenants and they vary from state to state. According to Laura Agadoni from Trulia.com, “Most states have specific landlord-tenant provisions that cover issues such as security deposits, level of access to the property, and how much notice you need to give your tenants when you want them to leave. There also are federal laws you need to know, such as habitability and anti-discrimination laws.” Knowing the law will keep both yourself and your tenants safe and sound.

3) Research, Purchase, and Prepare a Property for Lease
Make sure to find a property that has inherent value, whether that value is in its ability to be renovated and used or move-in ready. Find out ways to research properties in my blog on real estate investment here.

4) Review Each Potential Tenant
Make sure to run a background check on each tenant, as well as check their credit score. You should not hire a tenant based on these two factors alone. Get two character references and two previous rental references from each tenant. Interview the potential tenants, as well. These vetting tactics should help you to have a broader idea of who the tenant is and what they are about. You will have a better idea of if they will be caring tenants who treat your property with respect and pay rent on time.

5) Make Tenants Pay Rent
If you are too chummy with your tenants, they can start to be “flexible” with when they pay the rent. Instead of paying the rent on time, they may slide back a few weeks. It is important to A) keep a professional relationship with tenants and B) enforce tenants to pay rent on time. One can enforce timely payment by making tenants pay late fees.

6) Make Specific Leases
If you are going to have leases for each rental property, it is important to hire a lawyer who can create the language for your leases. This will keep you safe financially and legally in the event that a tenant takes legal action against you or you need to take legal action against him/her.

These are simple steps you can take to become a landlord that is fair and reasonable with tenants and profitable at the same time. They are logical steps that make sense in the process of managing and maintaining properties. Make sure to keep in mind that owning and leasing properties do not make your rich fast, but in the long haul, they will richly pay off.