How you can really be “passive” landlord — profiting without doing any back-breaking work, taking any late-night phone calls, or dealing with any nightmare tenants.
Governor Christie announced the new FEMA flood maps which will show the new rebuilding standards for new homes in New Jersey. They are the result of Hurricane Irene and Sandy, and will take effect in 18-24 months. The issue with the new standards is that they leave many people wondering if they should build to current standards or the future standards, considering the flood insurance implications being below the standard would have on new construction homes. It will be interesting to see this all play out, which will hopefully happen swiftly so that everyone can move on after Sandy.