The "Northern Michigan Tip Book" category of our real estate blog provides a wealth of information and insider tips on living in the Northern Michigan area. From the best local restaurants to hidden gems for outdoor recreation, this category offers a comprehensive guide to the region.

If you are considering buying or selling a property in Northern Michigan, our "Tip Book" can provide you with valuable insights into the lifestyle and culture of this stunning area.

When you search for Lake Charlevoix vacation rentals, we at Northern Michigan Escapes suggest you start with our listings. Of the more than 185 distinctive vacation homes we offer, 50 of these houses lie within the Charlevoix town limits. You can enjoy these breathtaking lake view homes year-round.

Lake Charlevoix Vacation Rentals

Our expansive holdings in Northern Michigan provide you with a plethora of vacation options from one-bedroom condos to seven-bedroom estates. Our Lake Charlevoix vacation rentals offer the ideal retreat for time away, breathtaking views, and a multitude of nearby watersports. We know the area rather well and can point you to the resources you need to rent a boat, SeaDoo, water skis, or other water fun equipment.…

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What Is Commercial Real Estate (CRE) and How Does It Work?

Commercial real estate (CRE) is a property that is used solely for commercial purposes or to offer a workspace, as opposed to residential real estate, which is utilized for living purposes. Commercial real estate is frequently leased to tenants for the purpose of conducting income-generating operations. This vast category of real estate can range from a single storefront to a large shopping mall.

Retailers of all kinds—office space, hotels and resorts, strip malls, restaurants, and healthcare facilities—all fall under the category of commercial real estate.

Important Takeaways

  • Commercial real estate refers to properties that are used primarily for business or to generate money.
  • …

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Buying an investment property is most probably an effective way of making money and attaining financial independence. As a real estate investor, you may find yourself in a tax loophole when buying a new real estate before selling your current one. However, real estate investments have opened doors to amazing and profitable opportunities. (Click here to see all Northern Michigan Luxury Lifestyle Homes for Sale)

One advantage of investing in real estate over other properties or assets is that you can decide to exchange the real estate for another in a process known as reverse 1031 exchange. This is done without paying any taxes that apply to the increase in the value real estate value. (Click here to see Northern Michigan's finest collection of…

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A Travel Guide to Northern Michigan

Want to make your life fuller and happier? Then traveling is the best answer as it helps to re-discover yourself and makes you healthier. In addition, you get to know about new cultures, people, and places, which boosts your confidence. There are several places to visit for tourism and one of the best and most relaxing places in Northern Michigan.

Northern Michigan is a famous tourist destination as it has a number of national forests, lakes and rivers, several small cities, and much more. It is very easy to find and enjoy the simplest of pleasures in Michigan as it has endless nature for tourists. There are more cities to explore in Michigan that are mentioned below:

Traverse City

It is the Cherry…

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Northern Michigan's real estate market has become a seller's market. As a buyer, you're looking for your dream home - or at least, a "good for now" home - and discovering there's not a lot to choose from. You find homes with potential. But the same potential that you see in a home is seen by countless other homebuyers as well. And in a seller's market, the competition between you and those other homebuyers will be fierce.


It can be such an aggressive competition, in fact, that those houses where you see potential are gone before you have much of a chance to really consider them. It can be so frustrating that you might even reconsider buying. But when you consider that it could be years before things shift into a buyer's market, sitting back to…

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In the winter, controlling the thermostat is critical for budgeting. When it's cold outside, find out what temperature to set your thermostat to.

It's tempting to put up the heat when the weather starts to cool down. Changing the temperature may appear to be more pleasant, but it might be costly. Here are some helpful hints for determining what temperature to set the thermostat to keep your heating expenditures under control.

In the winter, the best temperature to set the thermostat is
According to Sam Price, the creator of Heatable, a heating company based in the United Kingdom, the basic rule of thumb is simple to remember.

"When most people are at home during the day, the 68-degree mark should be most comfortable," Price added. "In the…

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A commercial real estate loan is not the same as a home loan.

Commercial real estate (CRE) is an income-producing property that is only used for business reasons (rather than residential). Retail malls, shopping centers, office buildings and complexes, and hotels are all examples. Commercial real estate loans are used to finance the acquisition, development, and construction of these properties. These loans are secured by liens on the commercial property.

What is the definition of a commercial real estate loan?

Commercial real estate loans are made by banks and independent lenders in the same way that home mortgages are. Commercial real estate is also financed by insurance companies, pension funds, private investors, and other sources, including…

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Northern Michigan has everything you need for nearly any lifestyle. Northern Michigan Escapes vacation rentals can serve as you basecamp as you explore all that our area has to offer.

Local Lakes and Beaches

RELAX ON PRISTINE BEACHES and spend your vacation sunbathing and swimming in Northern Michigan. The best thing about beaches in Michigan is that there are many options to choose from. Whether you’re looking to find a pretty family beach with plenty of facilities or a beach graced with golden sands and ideal conditions for fishing, there is something for everyone. (Click here to see all Northern Michigan Waterfront Lifestyle Homes for Sale)

BEST BEACHES

All over Northern Michigan are incredible beaches, and here are some of the…

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If you ask any real estate specialist about the advantages of investing in commercial property, you'll almost certainly get a monologue on how commercial property is a better deal than residential property. Commercial property owners adore the extra income flow, the cost-saving economies of scale, the level playing field, the plentiful market for excellent, inexpensive property managers, and the potential for a larger reward from commercial real estate.

But how can you decide which homes are the best? What distinguishes the good deals from the bad?

TAKEAWAYS IMPORTANT

  • Commercial real estate holdings, like other investments, begin with a solid blueprint.
  • Learn how the commercial real estate market differs from the residential real estate…

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Capitalization rate (also known as cap rate) is the rate of return on a commercial real estate investment.

While cap rate does not consider the impact of mortgage financing, a general rule of thumb is whether the cap rate is above or below the interest rate. If the cap rate is greater than the interest rate, you’ll generally come out ahead. If the cap rate is lower than the interest rate, you’ll be relying on appreciation for your return, making it a riskier speculative investment.

How to calculate cap rate

The formula for cap rate is simple: income, fewer expenses, divided by the purchase price.

On a long-term rental, multiply the monthly rental rate by the number of months per year you expect the property to be rented. In areas with…

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