WHAT IS AN INVESTMENT PROPERTY?
An investment property is defined as any property that is not used as a primary residence and is used to generate income. This can be through rental income, appreciation or tax benefits. Many people own investment properties to supplement their income. When managed effectively, investment properties can be a great way to make money. But there are many legal concerns surrounding the purchase and management of an investment property. This is where David Soble is effective – he is here to help you with any legal matters surrounding your investment property.
TYPES OF INVESTMENT PROPERTIES
Residential Investment Properties: These are properties that are used as residences and are rented out to consumers. Common examples of residential investment properties include apartments and condos. Many people in desirable real estate markets also use their investment properties as rental vacation homes.
Property ‘flipping’: You may have seen examples of this type of property on cable television. This is when a real estate investor purchases a property (usually at a low price) with the goal of improving it and selling it at a large profit.
Commercial property: The purpose of owning a commercial property is to generate income.
HOW CAN DAVID SOBLE HELP ME WITH MY INVESTMENT PROPERTY?
If you are buying or selling an investment property, you will benefit from legal advice regarding loans, taxes, title deeds, insurance… the list goes on and on. There are many legal regulations surrounding investment properties that can be overwhelming or confusing, even for an experienced real estate investor. David will make managing your investment property simple and easy, so you can reap the financial benefits without the stress.
If you are using your property as a rental you will likely experience the occasional lawsuit from a tenant and having a real estate lawyer can help eliminate many headaches. David will review and draft your lease documents to ensure that they comply with all existing laws and regulations.
If you are planning to ‘flip’ your investment property, then a real estate lawyer will be essential for guiding you through the entire process. David will draft and review legal documents for when you buy and sell the house. David will also draft contracts for any services that you need to successfully upgrade the property.
Regardless of what type of investment property you own, a real estate lawyer can help you maintain it by reviewing insurance policies, title commitments and exceptions, usage restriction laws, tax codes and more. Something does not sound right with commitments and exceptions.
Having a lawyer on your side is absolutely essential for all real estate investors. Whether you need immediate assistance in a crisis or liability protection for the future, we are here to help. Call David Soble today and see what he can do for you and your property.