The Preventative Maintenance Plan Needed For Your RentalsI think we may have a problem, There seems to be a patch of mushrooms growing in one of your units.”When my property manager first called me with this information, I actually thought the service request was a joke. That was until I saw this photo! The first question I asked myself was, why hadn’t I heard about this sooner? According to the tenant, this mushroom appeared within a few hours, which is impossible. I immediate sent my … [Read more...]
The Outer Limits: How to Speed Up the Property Inspection Process on New Deals
May 18, 2012 By Leave a Comment
The Outer Limits: How to Speed Up the Property Inspection Process on New DealsIs your passion hang gliding? Bull riding? Planking? No matter what your hobby is; forget it. If you are an investor looking for the perfect 10 rental, you won’t have time to do any hobbies if you aren’t efficient. Investors may need to look at tons of properties to find one keeper. To rule out properties quickly, speed up the process by starting your inspections on the outside. Many of your big ticket items are … [Read more...]
Managing My Own Rental Property?
March 26, 2012 By Leave a Comment
Managing My Own Rental Property?There are many good reasons to manage your own rental properties. First, there is the common saying that “nobody cares about your property as much as you do.” That’s true and nobody will likely try harder to find and keep good tenants than you will. Another reason to manage your properties is because it will save you a good amount of money. Most rental companies will charge you 10% of the monthly rent. Therefore, if you’re renting a place for $1,500 a … [Read more...]
Investing Strategy that Works in ANY Market Especially Real Estate
March 4, 2012 By Leave a Comment
Investing Strategy that Works in ANY Market Especially Real EstateOne thing that the last several years has taught us is that financial markets can go up and they can go down. The real estate market is no different. When markets go up, everyone is happy and even bad investments can turn out okay. When markets go down, investors who used the wrong real estate investing strategy at the wrong time can get wiped out. Down times separate the good real estate investors from the bad or just lucky … [Read more...]
How To Recruit Monetary Incentives Into Your Spy Network Of Paid Informants
February 28, 2012 By Leave a Comment
How To Recruit Monetary Incentives Into Your Spy Network Of Paid InformantsOffer Monetary Incentives otherwise know as bird - dog incentive for properties that are not advertised. It’s usually someone who comes into frequent contact with problem property owners within a specific neighborhood or area, and is in a position to learn about non-advertised rental properties that are for sale there. These types of hidden properties are never formally advertised as being listed.Read the full post … [Read more...]
What Does Real Estate Investing Strategies and Your Lifestyle Effect Your Success
February 27, 2012 By Leave a Comment
What does your real estate investing strategies have to do with your lifestyle effect your success? “How do I choose a real estate investing strategy”?Regarding a Successful Real Estate Investing Business. One of the questions I am asked most frequently. There’s no doubt that some people are more suited for one type of investing strategy than another. There could be many reasons for this. One might be the type of experience that they already have. A good example would be someone … [Read more...]
So You Want to be a Landlord?
February 7, 2012 By Leave a Comment
So You Want to be a Landlord?Several days ago I read a great post by Michigan landlord, Dennis Fassett, in the Biggerpockets blog section (article). It would have been hysterical if only it wasn’t so true. He discussed what he called The Boyfriend Disorder. He wrote about what happens when a prospective tenant shows up to view a property and has her boyfriend tagging along. In between the laughs, I cringed.Having spent two decades as a real estate investor, half of that time as a landlord of … [Read more...]
How To Use Internet Domain Names To Find Rental Properties
January 23, 2012 By Leave a Comment
How To Use Internet Domain Names To Find Rental PropertiesIn this article, you’ll learn how to use inexpensive property search methods that don’t require your physical presence in order to be effective, but which allow you to be at the right place at the right time by using the Internet, a strategic domain name technique and web page linking to find rental properties for [...]Read the full post here... … [Read more...]
Pets in Your Rental Property?
January 16, 2012 By Leave a Comment
Pets in Your Rental Property?This has been a subject that has been debated for as long as I can remember; whether or not to allow your tenants to have pets. What I have always found, is that it really doesn’t matter what your policy is. They are probably going to bring them whether or not you actually allow pets.When I bought my first couple of rental properties, I was very clear that I didn’t want pets in my houses. I didn’t want to have to replace the carpet after each tenant because of … [Read more...]
Rental Properties
January 8, 2012 By Leave a Comment
I just read about a couple in South Carolina who had a rental property up for sale. One day, they received a call from one of their neighbors that it appeared someone was inside the property.Nobody was supposed to be in the house at the time so the couple headed over to their place and when they walked in the front door the husband was immediately attacked by a man. The wife pulled out a gun and shot the man and her husband was fine.Apparently, a homeless man had broken into the house and had … [Read more...]
How To Train A Property Management Company
December 22, 2011 By Leave a Comment
How to Train A Property Management CompanyThis past weekend I was digging through old DVD’s and “thinning” the big stack of movies we have and I came across a video I ordered online a few years back. It was a DVD on “How To Train Your New Dog At Home”. It was a slow Saturday and I suddenly found myself on the couch with the remote in hand re-watching this video and realizing how it wasn’t a video simply on training dogs, but really training anyone for anything. As I was … [Read more...]
Eviction Tips For New Landlords
December 15, 2011 By Leave a Comment
Eviction Tips For New Landlors.Don’t wait too long to evict a tenant. Protect your Real Estate Investment. Remember, non-payment of rent is not a personal attack on you and you need to stay professional as a property manager. Having an attorney right from the start will enable you feel empowered knowing you have everything you [...]Eviction Tips For New Landlords is a post from: Real Estate Investing Blog For Real Estate Investors.Read the full post here... … [Read more...]
How To Reduce Your Risks And Limit Your Personal Liability As A Landlord
December 15, 2011 By Leave a Comment
Many residential landlords unknowingly strut around with the words sue me figuratively tattooed on their foreheads in bright fluorescent colors! They’re considered in legal circles to be high profile targets because they run their rental housing business in a lax, haphazard manner with little or no regard to how they’re perceived by their tenants and [...]How To Reduce Your Risks And Limit Your Personal Liability As A Landlord is a post from: Real Estate Investing Blog For Real … [Read more...]
Rental Property Inspections
November 4, 2011 By Leave a Comment
Rental Property InspectionsWhen I ask a real estate investor when was the last time they inspected their investment properties. It is obvious from their contorted facial expressions that they most likely have never “formally” inspected their properties. While preforming “safe and clean inspections” during a tenancy is important, ensuring that “move-in” and “move-out” inspections are performed at the beginning and end of a rental relationship can mean the difference … [Read more...]
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Sacrifice: A Real Estate Investor’s Magic Bullet
Sacrifice: A Real Estate Investor’s Magic Bullet A few weeks ago, THIS article made its way across my desk via facebook. For those of you who haven’t had a chance to read the article, the long story short is that an investor by the name of Bill McMachen purchased 627 foreclosed homes at the Macomb’s county tax sale.The headline is what immediately caught my attention. After all, 627 units is a lot of property, especially for ONE transaction! I found myself a little envious of … [Read more...]