Landlords have a lot to remember and a lot to do. Everything from finding a tenant, vetting, upgrades, communication…the list goes on and on. Just as importantly, however, is remembering NOT to do certain things. The following “Don’t List” will keep you out of financial trouble and in good standing with your tenants. Don’t Forget To Save You probably already have a personal savings account for a rainy day. That’s great! However, that’s not the same thing as saving for your pr
If you are going to be a landlord, strive to be the best. Anything less and you’re shooting yourself in the foot. Rockstar landlords are going to have less vacancy, less unexpected problems and more profitability. Here’s a few of my favorite tips to keep your investment a successful and happy one. Treat It Like A Business Because it is one! Being a landlord isn’t a hobby, it’s a job. This seems obvious, but you’d be surprised. A Landlord is in charge of someone’s home. Don’t
As a real estate professional, I like giving a nationwide perspective of home prices and buying opportunities. I often hear about how millennials don’t like to settle down as much as previous generations, leading me to believe that more people are taking a broader look the country when it comes to buying a home. However, a Money.com article put me back on my heals. Turns out millennials are not actually moving as much as previous generations. The major shift isn’t how many pe
A tenant is moving out! Depending on your relationship this could be cause to celebrate. Or they might have been great and you’re sad to see them go. Either way, it’s time to assess damages – if any. No matter friend or foe, a landlord still has to make an honest assessment of the apartment. You collected a security deposit at move-in, so you’re covered to a certain extent. But what if repairs are going to exceed the amount saved? Don’t freak out, you’ve got a few options. Ev
News flash: real estate is expensive. High price tags are making it harder for young people to buy their first home. Homeownership has dipped to 63% in America, which is the lowest in fifty years. Just 36% of early millennials are home owners. Do young people just have less money to invest? As it turns out, pricing isn’t the only factor keeping millennials in their apartments. There is a cultural shift afoot and it’s rippling through multiple sectors, including real estate. T
Apartment life is booming in America. Meanwhile, home ownership is at its lowest rate in a century. What happened to the American housing dream? Is home ownership going the way of the dinosaur? Not likely…but there is a shift afoot. Home ownership is still a sense of pride for millions of Americans, but it’s not the must-have it used to be. Living as a renter no longer carries with it a sense of failure or shame. People are proud of their 2 bedroom apartments! Why the shift?
The idea of passive income excites just about everyone. The million dollar question is where doest that passive income comes from? If you’re reading this blog, chances are you’re thinking real estate. Perhaps you live in a home now and you’re considering selling it. Should you hold on to that property as a rental or sell it and take the equity? Or, maybe you have a family property that is just sitting there. Do you turn that into a long term rental? The answer is – it depend