Investing in Single Family Homes

Investing In Single Family Homes

Investing in single family homes is still big business. Recently Gaurav Singhania and Brian Grow, of Morningstar Credit Ratings, LLC., gave a webinar providing updates and analysis on single family rental performance.

Good news for institutional investors – the gist of their seminar is that single family home rental investing is still growing – it’s still a huge market opportunity. They are very optimistic for its future.

Bill Conerly, an economist stated that given the gradual improvement in jobs, more younger people are likely to move out, either from their parents or from roommates, thereby potentially creating a need for as much as over a  million housing units this year and a like amount next year. And while rising incomes usually lead to buying rather than renting,  as long as we still experience a  less favorable mortgage lending environment, there will still be a demand for renting over buying.

As I previously suggested – stop sitting on the sidelines and start buying investment rental properties.  When the economy improves to the point where your renters can afford to buy again, sell and maximize your investment.

 

But remember – being an investor is one thing – but being a landlord is a distraction.

When it comes to managing your single family properties, rest easy – Octazon Management has got you covered, can protect your asset and take away your property management headaches and distractions through our full-service or back office property management services. Octazon uses cutting edge, cloud based property management software that fully integrates the entire property management and financial process enabling the investor direct access to valuable owner/investor information 24/7 bringing them “simplicity and peace of mind.”

When providing management services to Realtors, Octazon will NOT provide the leasing, rentals or sales – so you never have to worry about losing control of your relationship with the owner. 

Providing Simplicity and Peace of Mind™ 

Call us 954-674-2467 or email us at info@octazon.com today.

                                           Check us out @ www.octazon.com 

SINGLE FAMILY HOMES * MULTI FAMILY * COMMERCIAL – OFFICE – INDUSTRIAL

THERE IS STILL TIME TO INVEST IN FORECLOSURES

ATTENTION INVESTORS – IT’S NOT OVER – KEEP YOUR EYES OPEN! THERE IS STILL TIME TO INVEST IN REO’S

Are you wondering if the real estate market has corrected itself and the supply of Florida foreclosed homes has bottomed out? Were you looking to in invest in foreclosures and think you might have missed the boat?The answer is not yet! There are still over 70,000 Florida foreclosure properties that will eventually come to the market in the near future. Among these foreclosure properties are the lingering properties, called Zombie Properties, creating a back log of over 50,000 Florida foreclosures state-wide that need to go through the foreclosure process. These lingering properties are called Zombie properties because after the foreclosure process was started, the owner vacated the property and the bank then decided for various reasons to cancel the foreclosure perhaps due to paper work issues (signing issues or lost note) or the bank decided to not move forward with the sale, or the lender simply had too much inventory and needed to slow down its intake.  Regardless, these properties serve as reminder that the housing market is still in the midst of self-correction.

Data shows that South Florida is now ranked second in the most zombie foreclosures with about 13,000 such homes in the second quarter.  When combined with properties that have already been foreclosed upon, i.e. bank-owned homes (REO), there are more than 140,000 homes in Florida in either zombie or REO mode.

Florida still remains the No. 1 state in the nation in overall foreclosure activity.

What does this all mean for the investor? This translates as an opportunity to still keep your eyes open to look for deals to invest in foreclosures and to purchase single family homes and rent them out.

 – BUT remember, being an investor is one thing- being a landlord is a distraction.

When it comes to managing your single, multi family & commercial properties, rest easy – Octazon Management has got you covered, can protect your asset and take away your property management headaches and distractions through our full-service or back office property management services. Octazon uses cutting edge, cloud based property management software that fully integrates the entire property management and financial process enabling  the investor direct access to valuable owner/investor information 24/7 bringing them “simplicity and peace of mind.” .

When providing management services to Realtors, Octazon will NOT provide the leasing, rentals or sales – so you never have to worry about losing control of your relationship with the owner. 

Providing Simplicity and Peace of Mind™ 

Call us 954-674-2467 or Email us at info@octazon.com today.

Check us out @ www.octazon.com

SINGLE FAMILY HOMES MULTI FAMILY * COMMERCIAL * OFFICE – INDUSTRIAL

 

      

Pets vs. Assistive Animals – Tenant Disability Rights under FHA & HUD

Rights to Assistive Animals for Disabled Tenants

I recently gave a seminar to Realtors and Investors on the difference between pets and assistive (service) animals. I wished to sensitize them to the real world financial risks of ignoring a disabled tenant’s (prospective or current) request for assistive animals.

As of April 2013 both the Fair Housing Act (FHA) & the Federal Housing Administration (HUD)  expanded the definition of service animals to apply its protective rules to ALL assistive/service animals – even emotional support and comfort animals.

Therefore, according to the Tenant Disability Rights under both FHA & HUD, persons with disabilities may now request a reasonable accommodation for any assistance animals, including an emotional support and comfort animal.

AND HERE IS WHAT YOU NEED TO REMEMBER:Assistive animals can range from a miniature horse to an iguana or monkey and the list of the various types of assistance animals keeps on growing;

  • While all pets may be animals NOT all animals are pets;
  • Assistive animals aren’t animals of choice, like a pet, but rather a necessity;
  • These animals are NOT legally required to have ANY special training, tags or certifications.

BOTTOM LINE:

Any animal that assists a disabled person is a service animal. It doesn’t make a difference what service it provides.

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When it comes to managing your single, multi family & commercial properties, rest easy – Octazon Management has got you covered, we can protect your assets and take away your property management headaches and distractions through our full-service or back office property management services. Octazon uses advanced technology that allows us to stay connected and maintain transparency with our clients.

When providing management services to Realtors, Octazon will NOT provide the leasing, rentals or sales– so you never have to worry about losing control of your relationship with the owner. 

With Octazon, we bring order to residential property ownership.

Call us 888-324-9528 or email us at info@octazon.com today.

Check us out @ www.octazon.com  

ASSET PROTECTION PART II

In January of this year, we discussed the importance for investors who are buying real estate that they should create a legal entity (like a corporation, trust, partnership, limited liability company etc…) to own the property so as to protect oneself from personal liability, i.e. to provide asset protection. That owning property in ones name exposes oneself to liability.

For those who took my advice and created a legal entity to asset protect themselves, you need to be aware of the following important dates that requires action on your part to maintain your legal entity in “good standing’ with the State and avoid an additional $400 non-negotiable late fee as required by law.

Florida Statutes require all Corporations, Limited Liability Companies and Limited Partnerships to file an Annual Report on or before May 1, 2014, to maintain “active” status and avoid administrative dissolution or revocation.  Failure to file the 2014 Annual Report by September 26th, as required by law, will result in the entity’s administrative dissolution or revocation.  If administratively dissolved or revoked, the entity may reinstate by paying the required annual report filing fee and the additional non-negotiable reinstatement fee.  In other words, you will incur a late penalty fee, reinstatement fee and put your entity into a “no good” standing category with the Secretary of State which may cause you to possibly lose your entities name and your asset protection.

Stay in business -do not delay- keep your corporate records active with the State by filing your Annual Report on or before May 1, 2014.

You can quickly and easily file your Annual Report by going to www.sunbiz.org –  Florida Department of State Division of  Corporations, click on the e-filing services tab, click on Annual Report and follow the simple instructions.

When it comes to managing your single, multi family or commercial properties, rest easy – Octazon Management has got you covered and can protect your assets and take away your property management headaches and distractions through our full-service or back office property management services.

When providing management services to Realtors, Octazon will NOT provide the leasing, rentals or sales– so you never have to worry about losing control of your relationship with the owner. 

With Octazon, we bring order to residential property ownership.  Call us 888-324-9528 or email us at info@octazon.com . Check us out @ www.octazon.com

INVESTORS – AVOID PERSONAL LIABILITY – CREATE ASSET PROTECTION

Our message to buyers is clear – Investors Avoid personal Liability – Create Asset Protection.

Investors who are buying real estate should be aware that owning property in their name exposes them to liability. The most substantial business reason to create a legal entity (like a corporation, trust, partnership, limited liability company, etc.) to own your property is to protect yourself from personal liability, i.e. to provide asset protection. By forming a legal entity you are separating that legal entity from yourself, an individual.  This legal entity now has the legal right and power to make all the decisions that an individual could make, but with the added feature that the individual investor(s) are not personally liable for its actions. For example, if a legal issue arises out of the business being conducted by the legal entity, liability for its activities is limited to the assets of the company, i.e. your investment, as the claimant’s only recourse would be against the legal entity. 

 One very common legal entity that investors use for asset protection is a Limited Liability Company, aka LLC.  A Limited Liability Company provides considerable asset protection to members carrying on a business like property ownership. Members of the company do not have personal liability for the enterprise – absent a personal guaranty.  Instead, liability for company activities is limited to the assets of the company, i.e. a member’s investment.   An LLC also provides some protection from the judgment creditors of the individual limited members if a judgment is entered against the member after the creation of the company, and also protects the members as a result of the actions, or inactions, of another member by dictating the rights of a member’s creditor.

 When it comes to managing your single, multi family, REO, Second homes or commercial properties, rest easy – Octazon Management has got you covered and can protect your assets and take away your property management headaches and distractions through our full-service or back office property management services.

When providing management services to Realtors, Octazon will NOT provide the leasing, rentals or sales– so you never have to worry about losing control of your relationship with the owner. 

With Octazon, we bring order to residential property ownership.  Call us 888-324-9528 or email us at info@octazon.com . Check us out @ www.octazon.com