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.

 

Did you know you can defer taxes on the sale of your investment or business-use property? It’s called a 1031 exchange, and it could save you a bundle if you’re planning on selling. (Click here to see all Northern Michigan Waterfront Lifestyle Homes for Sale)

Internal Revenue Code 1031 allows an owner to sell their investment or business-use real estate property and use the sales proceeds to purchase a replacement property of like kind without a tax on the profit.

If that isn’t enough, 1031 exchanges are an advantageous way to diversify your assets, improve returns on your investments or just free up more capital for future investments. (Click here to see all Lake Charlevoix Homes for Sale)

But the IRS rules for 1031 exchanges are…

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7 Tips for Skiing and Snowboarding in Cold Weather

Winter at Boyne Mountain can get cold in some months! But without the Lake Michigan affect weather, Boyne Mountain Resort's powder snow wouldn't be what it is and we wouldn't be writing this article to help you stay warm on your ski vacation! With a little preparation and maybe a smart purchase or two along the way, you can ensure that you won't need to worry about the cold and you'll be carving down the slopes on even the most blustery of days. (Click here to see all Northern Michigan Ski Lifestyle Homes for Sale)

  1. Lots of layers. Rule number one is a no-brainer for most. In order to prevent heat loss, the best method is to wear multiple layers rather than opting for thick and heavy…

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Investing in Northern Michigan real estate is one of the smartest money moves you can make. Whether you are investing in a single-family home for yourself or to use as a rental property or buying multi-family residential property, it’s a stable and safe investment. (Click here to see Northern Michigan's finest collection of vacation rentals)

It’s a smart move to plan for retirement using a mix of different investments, including real estate.

Unlike investing in the stock market, investing in real estate means you always have the physical asset to show for your expenses. Real estate investing for beginners might seem overwhelming, but it doesn’t have to be. Keep reading for 7 tips to help get you started.  (Click here to see all…

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This article summarizes some key Michigan landlord-tenant laws applicable to residential rental units.

The Official State Statutes and other reputable municipal sources were used to research this information. All sources are cited appropriately.

With that said, landlord-tenant laws are always changing, and may even vary from county to county.  You have a responsibility to perform your own research and cautiously apply the laws to your unique situation.

If you have a legal question or concern, I only recommend contacting a licensed attorney referral service that is operated by the State Bar of Michigan. This article is not intended to be exhaustive or a substitute for qualified legal advice. (Click here to see Northern Michigan's…

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Lake Charlevoix vacation homeIf you value lifestyle in combination with an appreciation profile, there just might be a place in your portfolio for a Northern Michigan vacation home that makes financial sense. Vacation home prices typically lag major market residential rates by 12-36 months.

But with asking prices for Northern Michigan waterfront and ski-proximate real estate up 10 percent to 20 percent this year (based on 24 months sold price per sq ft averages), discounting has not hit our market.

 While the obligations and negative cash flow aspects of ownership can sometimes be burdensome, the numbers still work as illustrated on our Investment Performance page. Now is the time to explore the pluses and minuses of buying a Northern Michigan vacation home property…

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There's a reason this beautiful Northern Michigan lake placed second only to Lake Tahoe in USA Today's readers poll of America's best lakes.  A boat tour of Lake Charlevoix will not only give you a beautiful day on the water but access to three of the Northern Michigans best small towns;

  • Boyne City, at the eastern edge of the North arm, has seven condominium complexes located directly on Lake Charlevoix. (Click here to learn more about Boyne City, Michigan Lake Charlevoix Condominium Investment opportunities)

  • Charlevoix, on the lakes western edge, has two condominium complexes located directly on Lake Charlevoix. (Click here to learn more about Charlevoix, Michigan Lake Charlevoix Condominium Investment opportunities)

  • East Jordan, at…

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A blanket mortgage is designed to finance the purchase of multiple properties simultaneously.1 They’re often used by real estate investors and commercial property owners looking to buy up several properties at once. Because they condense multiple mortgage applications into a single one, they’re able to save time, reduce costs, and increase efficiency for buyers.

In some cases, consumers might consider a blanket mortgage in order to finance a new home’s construction.

When to Use a Blanket Mortgage 

Blanket mortgages are most often used by investors, commercial property owners, and multifamily buyers looking to rent their properties or otherwise make income off of them. Investors often use…

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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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