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Insurance For Landlords – Best Way to Protect Property!

Insurance is a must for any type of property. It gains more prominence for landlords. Generally, landlords own a sizable property that they either rent out or give on lease. Protecting the property against any kind of risks such as untimely rent, accidental fire, theft or … can help protect your interests. Risking a sizable amount of property is an unwise decision. Taking appropriate measures to protect your property will save you from the risk of losing it.

You can choose from a wide range of insurance options. You could even look online to get the best quotes on insurance for landlords. This is an easy and convenient way to look for insurance. It is just a click away. It is an insurance policy that protects the investment made by the landlord. Any losses that may result due to a lawsuit or failure to pay rent on time may lead you in financial pitfall. To overcome the situation, you could buy a policy that will cover the losses.

Unexpected events and climatic conditions can pose a threat to your property. A cover, covering various eventualities such as flood, earthquake, loss assessment, vandalism, and business property can protect your interests. Building insurance is another type of cover that will protect the building that you might have rented or lent on lease. You can also get buy to let, and rented property insurance on building. Depending on your preference and choice, you can get a suitable cover.

Landlords must ensure they keep their interests protected by opting for a suitable cover. Besides, the natural calamities, you could also face the risk of being sued for negligence by those who reside in their homes. The only way to overcome such risk is by opting for a cover. Seeking advice from insurance advisers will help get a suitable cover that suits your business.

Appropriate coverage for the building will cover damages that include damages caused by fire, smoke, wind, lightning, explosion, fire department charges, emergency removal of property, damage from vehicle, damage from an aircraft, and riot or civil commotion. The cover must ideally provide coverage against risks that you are most likely to be exposed to. There are numerous benefits of a cover.

Some property owners are of the opinion that a cover may cost a huge amount. However, the fact is a property owner can get a cover at a reasonable price. You could also do some research online on various covers available. You can also compare the features and choose one that best suits your interests.

How to Find Jobs for Your Foreclosure Cleaning and Real Estate Contracting Business

A real estate contracting company handles duties that range from lawn care, to rehabbing and building, and everything in between. A popular sub-category of real estate contractors has fast become the foreclosure cleanup business.

A foreclosure cleanup company performs tasks such as general cleaning, changing locks, and boarding up windows and doors of vacant and abandoned homes to keep vagrants from entering. They also handle lawn care and regular yard maintenance of properties in pre-foreclosure, or that have been foreclosed upon, to minor repairs, interior and sometimes exterior painting, winterization of homes, interior trash outs, debris removal, and more.

Landing Work Orders for Your Foreclosure Cleanup Company

As a foreclosure cleaning company, there are several ways to find jobs, or “work orders” for your company. The primary gold mine in foreclosure cleanup work lies in contacting larger companies who have the jobs to outsource. One of the most effective ways to initiate contact with a larger company outsourcing work is directly, often via online vendor applications.

However, many larger property preservation companies are increasingly advertising online. They are soliciting help for both salaried, corporate positions, as well for lucrative frontline, trash-out and cleanup jobs.

Online Job Boards

Online job boards are fertile outlets for foreclosure cleanup work, if you know how to search for the plethora of opportunities. Internet job boards are divided into employment categories that range from the expected administrative, to professional career positions in, for example, the legal and medical fields. But now it’s not uncommon to see many formal job boards with entire foreclosure cleanup-type categories that previously were housed under Real Estate.

Property Preservation has become a popular job category on internet job boards. Websites such as the popular Monster, Career Builder, and the lesser known and newer job boards like Juju, The Ladders, Simply Hired and the like, all list property preservation jobs.

Viable Jobs Less Visible Under Other Real Estate Job Categories

It helps to know under which categories to search for property preservation and foreclosure cleanup type jobs.

Construction Category: Though “Property Preservation” has become a more used job category than in the past, some jobs are still further cloaked under less visible categories such as “Construction.”

Mortgage Field Services:Another category under which foreclosure cleaning and real estate contracting companies such as lawn maintenance businesses should seek jobs is the “Mortgage Field Services” category. This is actually a formal industry term that is a vital fiber in the fabric of the real estate and property preservation industry. But many new foreclosure cleanup and real estate contracting companies may overlook using it in their job search efforts.

When you research foreclosure cleanup and real estate contracting jobs for your small business, include the Contracting and Mortgage Field Services sub-banners in your search for jobs to propel your company.

Sample Job Postings

Here is a sample job description for a position that was recently posted on one of the larger, well-known job boards that was cloaked under the following category: Construction/Facilities; Skilled Labor:

“EXPERIENCED PROFESSIONALS IN PROPERTY PRESERVATION TO HUD GUIDELINES ONLY SHOULD APPLY. [Company] is looking for an experienced Field Technician to handle the [County Names]. Candidate must have their own work vehicle and tools. It is a necessity that candidates have experience in property preservation to HUD guidelines, and understand the proper procedures for all areas of this business including winterizations. For serious consideration, candidates should e-mail their resume to [Email Address].

The above job posting is an excellent opportunity for a properly licensed and insured foreclosure cleanup business.

Finding Jobs via Classified Ads Websites

Even classified ad websites have become popular outlets for property preservation, foreclosure cleaning and real estate contracting jobs such as lawn maintenance. To find the job opportunities, visit classified ad websites (such as Craigslist and Backpage) for specific property preservation and mortgage field services jobs.

Many of the larger, more formal property preservation companies have a hard time finding smaller companies who are properly licensed, insured and structured to handle the foreclosure cleaning volume a market riddled with foreclosures is spewing.

To begin your search for specific jobs in your geographic area, compile a list of property preservation companies, which are excellent, direct job outlet with online vendor applications.

Buying Apartment Buildings – Good Move?

Buying apartment buildings used to be what people thought of when they were thinking about investing in real estate. However, thanks to the whole flipping phenomenon the popular notion of investing in real estate has become something more akin to fixing up junker houses.

Not that there’s anything wrong with fixing up junkers, you make good money. But when you are trying to figure out what is the best return on your time, fixing a junker just doesn’t compare to buying an apartment building.

Let’s consider the two, just for a bit of perspective.

1. When you buy an apartment building you have much less competition; you are one of only a few investors in your market going after deals. Chasing flippers you’re one of hundreds. Why? Houses are easy for people to get their heads around, so everyone and their cousin does it. Apartment buildings are more challenging, because of the high dollar figures involved and more details to master, so fewer people take them on.

2. Buying apartment buildings makes you “much” more money. When you fix up a house you get one check one time; when you sell. You might have 100 hours into a rehab deal, and when you sell you net $30,000. Nice! However, take those same 100 hours and put them into buying a 50 unit apartment building. Now, not only do you get paid more, your apartment building pays you multiple times. When you close you get cash back from pro-rated rents, you pay yourself a management fee for raising private money for the deal. Each month you receive positive cashflow from the property. Then, 18 months or so after closing, after renovating the units, raising the rents and filling vacancies, you refinance and pull out a six figure, possibly a seven figure check. These are loan proceeds and tax-free.

3. If your goal is to become wealthy, building a multi-million dollar net worth, buying apartment buildings with get you there quicker. You need fewer deals to reach the one million dollar mark (a single deal can do it for you) making it much more achievable.

4. Even though most real estate investors are afraid of apartments because of the big numbers, buying apartment buildings is in fact less risky than buying houses. If any single tenant stops paying rent you still have cashflow coming in from all the other paying tenants in the property to cover your expenses. When a tenant in a single family home stops paying, that’s it! You’re 100% vacant and personally on the hook for the mortgage, taxes and insurance.

5. Buying apartment buildings allows you to achieve economies of scale, making your per unit expenses lower and cashflow margins higher. Because you can generate more useable income with apartment buildings, it is financially feasible to hire a professional management company, freeing you from day to day management of the property.

6. Buying apartment buildings and managing them effectively provides you and your family with a lifetime of residual income.

As you can see buying apartment buildings provides you with everything you wanted when you first thought of getting into real estate; large lump sums of cash, monthly cashflow that grows over time, the time freedom to really enjoy your life.

Funnily enough, houses can provide few of these benefits, yet ‘flipping gurus’ tout them as the investment vehicle for your financial freedom.

Don’t be fooled. Educate yourself, take action to buy your first apartment building and enjoy the income for the rest of your life.