Four Pieces of BAD Advice on Managing Rental Property You Should Forget Every once in a while I come across a blog post or an article or even a video that I think misses the mark so badly that I want to reach through the computer at the person who put it out and ask them “what are you thinking”? Not your usual disagreement or not understanding someone’s point of view, but actually wanting to ask why in the world they give the advice they are giving. I never do mind you. I think … [Read more...]
Four Pieces of BAD Advice on Managing Rental Property You Should Forget
August 30, 2012 By Leave a Comment
The Disadvantages of Section 8 Rentals
August 10, 2012 By Leave a Comment
The Disadvantages of Section 8 Rentals It felt like I was walking into a cave. A dark, messy, smelly cave. I looked around at the walls of my Section 8 rental and saw black, only black. The tenants had decided to add some “color” to the décor. But seriously, who paints walls black? And poop? Who leaves dog poop all over the floor? And trash? How can a family of four leave two, not one, but two dumpsters worth of trash? I started calculating the cost of priming and repainting, carpet … [Read more...]
Investment Property Management: What Metrics To Track And Why?
August 9, 2012 By Leave a Comment
Investment Property Management: What Metrics To Track And Why? Whether you manage your own investment portfolio, or hire a property management company to manage your investments, there are key metrics to track and measure if you want to truly find success. Any two real estate investors will define success differently, especially when it comes to property management. If you follow on-line forums dedicated to real estate, you will notice heated arguments on the merits of using property … [Read more...]
Owning Rental Property Without Managing Tenants: Why I Use Property Managers
July 31, 2012 By Leave a Comment
Owning Rental Property Without Managing Tenants: Why I Use Property ManagersA few weeks ago, David, a co-worker of mine, got on the topic of investing in rental properties. After what seemed like 20 minutes, I found out the following about David:He owned a 4-plex ten years ago. He lost a lot of money. He hated dealing with tenants. He will never buy an investment property again. What I deciphered from his story was that he took on too much. He handled every aspect of his rental business … [Read more...]
Investors: Be Careful of Misplaced Motivation!
July 20, 2012 By Leave a Comment
Investors: Be Careful of Misplaced Motivation!I’m sure many of you have heard the cliche’ saying, practice makes perfect.It’s a great saying, but sorry to say, is 100% wrong. I don’t remember where or how long ago, but I remember someone telling me that which caused the “huh?!?!” type expression on my face.This person then said, perfect practice makes perfect.After soaking it in, things finally clicked, “Ahhhhhh! That makes sense.” What benefit is the practice if you aren’t … [Read more...]
You Bought an REO Now Where To Start?
February 28, 2012 By Leave a Comment
You Bought an REO Now Where To Start?First, Let me set the stage for you. You are a buy and hold investor. You have done all the work required to learn your market and make a great purchase. The escrow just closed and the REO property is now yours.You have a lot to do and you need to know where to start.Each REO property offers its own challenges. I will highlight how I would run the project start to finish as a buy and hold investor:Prepping Your REO For The Tenant The first thing I would … [Read more...]
Lease Issues (Part 1)
February 24, 2012 By Leave a Comment
Lease Issues (Part 1)In th attempts to make their lease agreement more user friendly to the tenant, landlords often omit useful lease provisions. This series will be devoted to highlighting those often neglected provisions and prevailing upon our landlord readers to give them a second look when crafting their contracts.Topic One: Landlord Defaults and Tenant Remedies Many landlords neglect or outright refuse to address the situation in which they themselves have become a bad actor. Perhaps … [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...]
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The Rush to Securitize Single Family Rentals: The Fitch Report Changes the Rules
The Rush to Securitize Single Family Rentals: The Fitch Report Changes the Rules Many of the key points made in last week’s Fitch Ratings Report on REOs to Rentals (See How Ratings Could Dramatically Change the Single Family Rental Business) were not new or surprising. However, seeing them in black and white under the letterhead of one of the most powerful ratings agencies in structured finance changed the rules and probably the timetable for the birth of SFR securities−bonds created by … [Read more...]