Month: December 2018

Commercial Real Estate Attorney | Bukowski Law Firm | Austin, TX

Tips for Buying Your First Rental Property

Buying your first rental property is a major investment and has the potential to make you a significant amount of money on your return. However, like any new venture, investing in real estate requires precautions and doing your homework. When it comes to real estate law, it’s best to consult with a law firm specializing in acquisitions, escrow, and real estate closing in Autin, TX.

Here are a few valuable tips for buying your first rental property:

  • Choose The Best Location Location, location, location is the most critical factor for profitability in real estate investing.

  • Choose Single Family Rental Homes Invest in single-family homes first since it’s the simplest way to get started as a new real estate investor. Upkeep is easier as you only deal with a single tenant. Should something break and need repair, you only have to fix the problem once. Wear and tear on your investment is also reduced with single family tenants.

  • Use Leverage To Buy The Property Potential real estate investors should make sure to understand the mortgage market. Using the leverage of a mortgage will free up some of your cash so you can save it for repairs or future investment.

  • Consult With Real Estate Finance Pros Real estate lawyers and finance professionals can help you understand the legal matters, cost benefits, and potential opportunity costs.

Rental property is a sound investment if you want to diversify your holdings beyond stocks and bonds. Remember, choosing the right property, maintaining it, and dealing with tenants takes work, so it’s a job you need to be prepared to handle.

Commercial Real Estate Attorney | Bukowski Law Firm | Austin, TX

Why a Real Estate Investor Needs a Real Estate Attorney

Purchasing real estate is one of the best ways to invest in your financial future. But navigating the purchase process – from acquisitions to dispositions and everything in-between – can be overwhelming, even for a seasoned investor. That’s why hiring a real estate attorney in Austin, TX, is the best way to ensure you’re making the best decisions with your money and your property. A real estate investment attorney can provide you with many important services, whether you’re new to real estate or you’re a seasoned investor.

Hiring a real estate attorney to handle your transaction avoids any potential problems when buying or selling real estate. Here are four reasons why you need to hire a real estate attorney.

  • Maximize Profits, Minimize Risk – Buying and selling a property at the best possible price is essential to a successful real estate investment. From a legal perspective, an attorney can help make sure you’ll be able to maximize the return on your investment.
  • Contract Negotiation- Whether you are buying a building or office space, a real estate attorney will review the terms of the contract and negotiate any loan terms to ensure that the sale is in your best interest.
  • Unforeseen Issues – A real estate attorney can provide legal advice on zoning issues, subleasing issues, title discrepancies, and contract interpretation issues.
  • Leases and Tenants – A real estate investment attorney can help you understand tenant rights and the implications of lease arrangements, as well as draw up and review leasing terms and strategies. Real estate attorneys will also assist in mediating and settling any landlord/tenant issues.

The Bukowski Law Firm can provide you with the advice, expertise, and services you need to keep your real estate investments running smoothly. We’ll work on your behalf to address your particular legal needs, explain the law, and represent you in court. Contact us today to discuss your specific legal needs.