Susan Hilton College Station Real Estate
Realtor & Vice President of Sales of Bryan College Station Real Estate
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Archive for March, 2011
Cooking Class in College Station
March 29th, 2011 Categories: Community Events, Family, Living Here
Fabulous cooking class held by Chef Diane in College Station tonight. Linda Stribling and I made an evening of it! What a treat.
Cooking classes with Chef Diane is LOTS of fun!
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Let’s Test This Out!
March 29th, 2011 Categories: 1
Let me know if you see this – I’m trying out a new service so I can post pics from my phone or computer easily!
I attached a pic of Kathy Opperman and myself at the Century 21 Convention in Las Vegas. Do you see it too?
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MythBusters – Myths About Duplex Buying
March 14th, 2011 Categories: Investment Real Estate
The guys from MythBusters took it upon themselves to figure out the top 10 most heard myths about duplex buying. These are myths that many people here all the time but they are myths so do not worry!
1. You DO NOT need to have 20% down to buy a duplex, triplex, or four unit building. Financing is available for properties up to four units, which was insure by FHA.
2. You CAN count 75% of the current or expected rental income toward helping you to qualify for a loan.
3. It is true the first time home buyer tax credit was available for multi-family properties. Although the program expired last spring and there does not seem to be any noise or congressional support to reinstate it.
4. It is NOT any more difficult to get financing for a duplex than a single home.
5. Maintence will cost you a fortune. When you own real estate you will have expenses that are involved. It is important to keep this in mind when you are buying the property.
6. Yes, you may get a phone call in the middle of a night maybe every 5 to 10 years. Plumbing issues do not happen that often and in the long run it is not a big ordeal. This is not a big issue like most people try and make it sound like. A quick call to the plumber will usually fix the problem.
7. Side by side duplexes are quieter than up/down duplexes. These types of duplexes are usually made as mirror images of each other. The walls no not any more thick and because you are right next to them they are just as loud if not more loud.
8. Cash flow is everything. Of course it is important to invest in something that makes sense financially but it also needs to match up with long term investment goals. Thinking about where you are at in your life and financially at the time but also where you hope to be in the future. This investment needs to match up with that as well.
9. New is better than old. Not always true! This depends on where you are located. Some people find the quirks of older real estate interesting and exciting.
10. Tenants are difficult. Being a landlord is a responsibility but if you take on the job with wisely and make thoughtful choices this should not throw any major problems your way. Your unit turnover will also be higher if there are not major problems all the time.
Susan Hilton
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Fire Ants In The Brazos Valley
March 11th, 2011 Categories: Home Improvement & Design, Living Here
Fire Ants
Texans in The Brazos Valley and the rest of the state have tried burning, drowning, smashing, poisoning and more to kill fire ants but they always seem to come back! After The University of Texas has put 20 years of research into this particular problem and they have now reached a solution! Phorid flies may not be what you were thinking but suprisingly enough that is the solution. Phorid flies lay eggs in the ants body. The egg hatches and larva moves into the ants head. This eventually kills the ants. Phorid flies aggravate ants and throw their regular behavior off.
Ants cause many problems for Texans. Some the problems are that they are known to make attacks on livestock occasionally, they can produce life-threatening allergic reactions in people, they mess up lawns, they reduce native insent populations and interfere with pollination. They also build mounds that can damage mowing, shredding and baling equipment. Fire ants cost Texans roughly $1.2 billion a year, which includes the damage they cause and the cost of our efforts to fight them.
So what are some ideas besides phorid flies that work in fighting these ants? Some solutions include Amdro Ant Bait works, boiling water works, club soda does not work, grits do not work, orange oil works. Although these are some solutions phorid flies have been very effective and are working towards our fight with fire ants!
Fire ants is something that The Brazos Valley struggles with but hopefully with these helpful tips you can fight this problem!
Susan Hilton
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Owners of Rental Properties Are Now Required by Law to Issue an IRS 1099 Form
March 8th, 2011 Categories: Real Estate
Starting this year, if you own any rental property the IRS is now requiring you to track all vendors doing at least $600 worth of work. By law you are now required to send an IRS 1099 form. This is not new to larger property owners, but the federal government enacted the Small Business Jobs Act of 2010 which now requires all property owners to issue a form..
By being a property owner you are legally obligated to gather certain information from vendors such as their name, address, and Social Security number or other tax identification. You must also keep a record of the amount of each payment made to them over the year.
This requirement applies to independent contractors or freelance workers that commonly provide service to rental real estate such as plumbers, electricians, painters, cleaning services, gardeners, landscapers, accountants, and handymen or any other service providers to the property who provide at least $600 Read the rest of this entry »
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