Wednesday, December 19, 2012

Tools of the Real Estate Investment Trade.

Tenant Electrical Tampering

When I started out as a Landlord, I was very naive about how tenants could damage your investment property and get away with it.

One of the hidden problems is your electrical outlets. They can be tampered with or damaged very easily without the Landlord's knowledge.

I had a tenant set up a tent on the back patio of one of my investment properties to repair engines. I noticed he jury rigged lighting from one of the outlets in the back bedroom. I wasn't happy about it but didn't say anything.

After the family moved out I went over the property to detect the repairs needed for the next occupants. I noticed that outlet used for outside electricity wasn't working properly but I didn't know why. I remember my Dad, who an electrician, using a tool to check the current status of each outlet.

Outlet Tester

This instrument not only checks but reports back through a series light combinations the existing status.

Advantages

This little tool provides the owner or Landlord the following advantages:

Check current state of electrical outlets before tenant moves out. Use security deposit to implement repairs.
Before purchasing an investment property, check existing status of the electrical network inside the potential investment property. Have Seller do repairs instead of the Buyer.
The tool is easy to use.
Very inexpensive.
No need for an Electrician. DIY (Do-It-Yourself).

Outlet Status

Below is a table that displays the Outlet Status when the three prong is plugged into a standard 110 volt outlet:

OUTLET TESTER STATUS CHART
STATUS	INDICATOR
OPEN GROUND	OFF ON OFF
OPEN NEUTRAL	OFF OFF ON
OPEN HOT	OFF OFF OFF
HOT/GROUND REVERSED	ON OFF ON
HOT/NEUTRAL REVERSED	ON ON OFF
CORRECT	OFF ON ON
What is the Outlet Status?

This little tool can save time and money and that my friends is the bottom line to managing your investment portfolio.

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Written by Bob Burns.

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Thursday, November 22, 2012

Homestead Housing Authority Miami-Dade County Florida New Section 8 Offices

Homestead no longer Strawberry Fields!

The Homestead Housing Authority in Miami-Dade County Florida has undergone some major changes since the real estate market began heating up several years ago. The City of Homestead enjoyed a good 10 years of expansion. Work force housing communities began springing up where strawberry fields, nurseries, orchards and farm land once occupied a majority of the acreage now developed. Major retailers like Wal-Mart, Nike and Home Depot, discovered that Homestead was the last stop for travelers and tourists before they entered the Florida Keys.

Homestead Housing Authority Building Miami Florida

Homestead Housing Authority HHA Building

I discovered the Homestead Housing Authority back in 1998 when it was just a small office. I found the agency was very willing to work with Landlords and Real Estate Investors by making the Section 8 processing cycle very easy for owners and tenants. What I didn't find was a lot of investors or Land Lords using Section 8 or Plan Ocho as an additional marketing channel for finding tenants to occupy their investment properties in South Miami-Dade.

That was Then, This is NOW!

The Homestead Housing Authority has just completed a new building and road modifications to their facilities. HHA and the rest of Homestead has grown and caught up with the rest of Miami-Dade county.

HHA new building that administers the Section 8 program for the City of Homestead.

New Section 8 facilities for Homestead, Florida

During the recent real estate bust, investors have picked up bargin properties in Southern Dade County. If you are a Landlord or a property owner looking for tenants, the Homestead Housing Authority HHA is one source for potential tenants in Southern Miami-Dade County.