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Different Types of Real Estate Investment Strategies for Beginners

The real estate industry is huge and thus presents a lot of opportunities to would-be investors. When it comes to property investing, an investor first needs to be aware of the different real estate investment strategies that exist in order to minimize risk as much as possible.

To help you decide how to invest in property, below are 6 common real estate investment strategies to consider. You can pick one based on your budget, time, and long-term goals. (more…)

Why You Should Live in Spokane, WA

When most people think of Spokane WA, the first things that come to mind are the Spokane Waterfalls, Manito Park and Centennial Trail. Although Seattle is located near Spokane, Seattle tends to have high rents due to its high tourism and tech jobs. Luckily, there are many cities in Washington State that offer a lively city without the high prices, such as Spokane.

Located about four hours east of Seattle, Spokane is Washington State’s second largest city. Despite holding this title, it’s still relatively small holding a population of a little over 200,000. So, why should you move here over larger cities?

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Mistakes to Avoid When Buying Investment Property in Spokane

The real estate market in Spokane is extremely competitive right now. Yet, even though home prices are rising, Spokane is still very affordable when compared to Seattle. And homes in the area rent quickly, which is good news for investors. However, the challenge is that the properties that are for sale also go fast. So, you need to be able to make a swift decision if you want to purchase an investment property. Quick decisions can often lead to mistakes if you are not careful. To help you in this process, here the mistakes you’ll want to avoid when buying investment property in Spokane. (more…)

What To Do When a Tenant Stops Paying Rent

The city of Spokane boasts of many fine attractions. Notable lures include a thriving economy, stunning architecture, and numerous outdoor recreation options. It explains why rental property investors are attracted to the area. While finding tenants in Spokane is very achievable, ensuring that the occupants pay the rent promptly may not be as easy.

At times, a tenant might even stop paying the rent altogether. If you are the landlord in such a situation, how do you handle it? The following are a few pointers on what to do when a Spokane tenant stops paying rent.

Assess the tenant’s rental history

The minute you discover that your tenant has stopped paying the rent, you need to ascertain his or her rent payment history. Have they behaved similarly before, or is it the first time? If this is the first time you’re having issues with the tenant perhaps there is a very good reason why they missed the rent payment. (more…)

How To Screen Tenants For Your Rental Property

Thanks to its stunning architecture, flourishing economy, and numerous exciting recreational activities, Spokane has become an attractive haven for most people. While this may sound like a windfall to rental property owners, it is not devoid of challenges. A primary one being landlords have to be extra vigilant when screening prospective renters to avoid ending up with a problematic tenant.

So, just how can a Spokane property owner successfully screen prospective tenants?

Here are a few useful tips that you can employ. (more…)

Best Strategies for Collecting Rent on Time

rentA common challenge among landlords is how to get the tenants to pay their rent on time. It can be annoying considering that rental income is the primary reason why you invested in the rental property in the first place. Besides, difficulty in collecting the payments might hinder you from meeting other obligations like paying off the mortgage, carrying out property maintenance, reinvesting, or settling bills. So, how can you ensure that your residents pay promptly and in a consistent, smooth manner? Here are pointers to help you out. (more…)

Best Outdoor Activities in Spokane

As a Spokane business we often get asked by new tenants about activities they can take part in. With spring in the air we thought this would be a great time to issue a light post about some of the top outdoor activities our city has to offer. Combined with its wonderful climate is the spectacular scenery and a plethora of outdoor activities you can enjoy. Here are some of those.

Spokane’s Best Outdoor Activities

1. Have a Picnic at Manito Park

Link: http://www.manitopark.org/

Location: Manito Park

In Manito Park you can see a lot of people having a picnic, playing basketball, watching birds, and other recreational activities you normally see in the park. This 90-acre park is also a wonderful place to visit as the smell of roses lingers all over the park. You can also stroll around the park or watch the kids running around the park. (more…)

How to Improve a Property’s Curb Appeal

A compelling way to convince prospective renters that your Spokane property is worth renting is by revamping its curb appeal. After all, the curb is one of the most prominent features of your asset. If it is dull, shabby or run-down, quality prospects will bypass it and move on to view others. So, how do you ensure your curb appeal remains beautiful, inviting and tenant-ready? Here are some practical solutions.

7 Curb Appeal Tips:

Keep the property clear

Rear View Of Home

Nothing rebuffs potential renters or buyers faster than a dirty, littered property. In fact, most of these prospects will not even bother getting your phone number, let alone talking to you. Many homeowners mistakenly fail to keep the property clean believing that the shoppers will understand the place is uninhabited. Help your property get a new occupant quickly by removing litter, fallen leaves, twigs, worn out furniture pieces, old appliances and any other unsightly items from the lawn, patio, porch, drive, and pathways.

Wash the exterior surfaces

It is not just enough to keep your property junk-free. You further need to clean it and give it that striking allure. In most cases, the only reason your Spokane rental property might seem old and deserted is the accumulation of dust and stains. Luckily, with the help of a pressure washer you can restore your property’s fascinating look in no time. If you plan well, a weekend should be sufficient for you to give your property the makeover. Use the pressure washer to remove the chalky flakey dust coating from the exterior walls, as well as, oils spills and stains from the path and driveways. (more…)

Essential Maintenance Tips for Landlords

For a landlord, it’s very important to perform regular maintenance of your property in order to prevent a small problem from getting worse– leading to a large expense. By routinely inspecting your property you can keep your property in great shape, which will keep your tenants happy. That being said, here are a few maintenance tips that we suggest every landlord follow: (more…)

How To Deal With Difficult Tenants

Every Spokane property investor wishes to have quality renters. At times, however, despite thorough tenant screening, it is possible to still end up with a troublesome tenant. One who does not pay rent promptly, doesn’t get along with neighbors, trashes the property, or who contravenes the lease agreement terms. When faced with such a situation, many Spokane landlords get overwhelmed and are unsure of what to do. The following are useful suggestions of how to deal with troublesome tenants.

Stay confident, calm, firm and objective

Bullies smell and feed on fear, and so do difficult tenants. Hence, being the property owner, you need to be confident and in control when interacting with the resident. Inexperienced owners, however, suffer from tenant-phobia, and they get nervous and intimidated whenever they are dealing with renters. As a result, the problematic resident continues to have his or her way. Fortunately, by being confident, calm and objective, a landlord can turn the tables around and even make an otherwise problematic tenant cede ground. (more…)

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