Found 65 blog entries tagged as Northern Michigan Real Estate.

Triple Net Lease – A Guide to Commercial Leasing: Unbeatable Insights + 10 Tips

Discover everything you need to know about Triple Net Lease terms, costs, benefits, and best practices.

Triple Net Lease agreements are a cornerstone of modern commercial real estate, providing landlords and tenants with clear responsibilities and predictable expenses. In this guide, we’ll explore what a Triple Net Lease entails, its benefits, key considerations, and tips to negotiate favorable terms.

What Is a Triple Net Lease (NNN Lease)?

A Triple Net Lease (often abbreviated as NNN Lease) shifts the major property expenses—property taxes, insurance, and maintenance—onto the tenant. Unlike a gross lease where the landlord covers all operating expenses, under an…

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Blanket Mortgage 101: Unlocking the Secrets to Smarter Real Estate Financing

Introduction to Blanket Mortgages

Introduction to Blanket Mortgages

When it comes to real estate, financing multiple properties individually can be a real headache. Enter the blanket mortgage — a solution designed to simplify the process. A blanket mortgage is a single loan that covers multiple properties. Instead of juggling different loans, payments, and terms for each property, you bundle them under one neat agreement. This structure is particularly popular among investors, developers, and even growing businesses.

If you're exploring ways to manage several properties more efficiently, understanding how a blanket mortgage works could be a game-changer for you!

How a Blanket Mortgage Works…

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When you invest in Northern Michigan real estate, there are several ways you can make money:

  1. Real Estate Appreciation
    It is when the property increases in value due to a change in the real estate market, the land around your property becoming scarcer or busier like when a major shopping center is built next door or upgrades you put into your real estate investment to make it more attractive to potential buyers or renters. Real estate appreciation is a tricky game. It is riskier than investing in cash flow income.

  2. Cash Flow Income
    This type of real estate investment focuses on buying a real estate property, such as an apartment building, and operating it, so you collect a stream of cash from rent, which is the money a…

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When you buy a vacation home, you’re making one of the few investments that offer both personal and financial rewards. And you don’t have to be a real estate tycoon to pull it off.

Buy a vacation home to live on your terms

Buying a vacation home allows you to diversify your income, build wealth, plan for retirement, and, of course, take a vacation at no extra cost to you. Some investors weigh one benefit more heavily than the others, but once you’re clear on why you want to buy a vacation home, you can focus your search and match your investment with your priorities.

Diversify your income

When you buy a vacation home and choose to rent it out, it’s possible to create a new, short-term rental revenue stream. This income could supplement…

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Vacation rental homes are spiking in popularity and for good reason. A 2016 HomeAway survey showed that 70% of vacation rental homeowners could pay at least half the mortgage on their vacation home from the rental income it generates. For owners who work with professional property managers, the cash flow benefits may be even greater.

Investing in a vacation home that’s also a vacation rental can create a best-of-both-world scenario: You get to enjoy downtime in one of your favorite locations while getting an income-generating property that helps pay for itself. Full-service vacation rental management companies like Vacasa make life even easier by booking and communicating with guests while also managing the day-to-day responsibilities of the…

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Once you have a clear understanding of why to buy a vacation home, the next step is understanding the cost—whether you can afford it.

Budgeting for a vacation home is different than your primary residence, in part because mortgage lenders and the IRS will treat your purchase differently based on whether they categorize it as a second home or an investment property.

Mortgage lenders and the IRS look at different factors to categorize your home (and may define them differently), but generally speaking, an investment property is rented out to generate additional income while a second home is for your own personal use. Taking out a mortgage may be easier for a second home than an investment property, but there are trade-offs when it comes to how you…

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Before you sell, consider swapping your aging income property for a vacation home in a like-kind real estate exchange.

Put simply, a 1031 exchange is IRS-speak for swapping one income property for another. It’s a unique tax benefit—with some specific requirements—that’s becoming more common in real estate deals as property owners increasingly look to trade up for vacation homes.

In 1031 exchanges (or "swaps"), you’re changing your investment in the eyes of the IRS, transferring the gain from one property to another while allowing your investment to grow tax-deferred. If you qualify for a 1031 exchange, you’ll defer paying taxes on the sale until you sell many years later. And since there are currently no limits to how many times you can 1031…

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The Perks of Being Pet-Friendly: Irresistible Revenue Boosters

Opening your vacation rental to four-legged guests isn’t just heartwarming—it’s a savvy business move. By marketing your property as pet-friendly, you tap into an underserved market segment willing to pay premium rates. Let’s explore the top ways pet-friendly policies translate directly into higher rental revenue.

Increased Booking Volume

Increased Booking Volume

Accessing a Larger Audience

Families and couples traveling with pets often struggle to find suitable accommodations. By advertising “pet-friendly” prominently, you immediately capture this niche. Recent industry data shows pet-friendly properties receive up to 30% more booking inquiries than their non-pet counterparts.

Reduced Vacancy Days

…

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Joining a homeowners’ association can be an added perk of living in certain communities. In essence, a homeowners’ association allows a community to agree to share the costs of the extra benefits of living in said community.

HOAs are common in gated neighborhoods with special accommodations like a pool, tennis courts, regular lawn service, and more. They can also afford greater security and fund neighborhood maintenance problems that may arise.

With shared community amenities, a local body to keep the neighborhood uniform and safe, and a community fund to help with issues around the neighborhood, HOAs provide a kind of safety umbrella for neighborhood members.

HOAs can make a neighborhood more pleasant and livable by allowing for shared…

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Utilizing renewable energy is a great way to both lower your bills and reduce stress on the environment. Through some high and no-so-high-tech methods, there are more and more ways to efficiently save and even create energy.

Residential Solar Panels

As the efficiency of solar power technology increases and costs of installation decrease, more homeowners are adding electricity-producing panels to their roofs. Doing so often allows users to sell their surplus power back to their utility company and recoup their panel investment even faster.

With government entities sweetening the deal with tax credits and subsidized rebates, many homeowners are saying ‘yes’ to producing their power.

Smart Energy

Thanks to technologies like…

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