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4 YEARS & 40 RENTAL PROPERTIES LATER. 10 KEY LESSONS LEARNED.

I’ve always been an entrepreneur at heart.  At the age of 13, I would sneak out onto the local golf course at night and dig out golf balls lost in the pond by amateur golfers over the weekend…and then I would sell them back to those same golfers the following weekend!  I loved it. By the age of 30, I had started two successful businesses, and at the age of 34, I decided I wanted to be a...

Can a landlord show a house while it’s occupied?

Can a landlord show a house while it’s occupied? The quick answer to this question is “yes” a landlord can show a house while it’s occupied. As someone who has shown quite a number of houses occupied by tenants, here are a few things I’ve learned that I think you’ll benefit from. Tip #1: Give plenty of notice (at least what the law requires) Giving the tenant notice that you or someone else (like...

HOW TO START INVESTING IN REAL ESTATE WITH LITTLE TO NO MONEY

Let’s discuss how to invest in real estate with little money. If you’ve been thinking about investing in real estate but held off thinking it’s only for those with money, then think again.  Real estate investing is for everyone regardless of how much money you do or don’t have in the bank. In this post, I’m going to share with you 5 viable ways how to invest in real estate with little money...

WHAT SHOULD A LANDLORD DO BEFORE A TENANT MOVES IN?

You’ve promoted your rental property, received a lot of interest, screened a few applicants, and you’ve finally got a tenant.  Lease is signed, deposit is paid, and the move in date is approaching. So, what should a landlord do before a tenant moves in?   I’ve found, over the years, that doing a meticulous walk-through of my rental properties before tenants move in is a wise thing to do.  ...

HOW DO YOU CALCULATE THE VALUE OF A RENTAL PROPERTY?

Knowing how to value a rental property depends on the type of property.  For instance, determining the value of an apartment building is different than determining the value of a single-family home. For the purpose of this post, though, I’ll be talking about how to value a single-family rental property.  Let’s get started. Sales Approach For a single-family home, the sales approach is the primary...

CAN YOU EVICT A TENANT WITHOUT A LEASE?

Can you evict a tenant without a lease?  Yes.  In fact, getting a tenant out of your property may be easier without a lease because the arrangement is just month-to-month anyway.   In most states, landlords must provide a tenant with 30 days notice to end a month-to-month tenancy.  If a tenant remains in the property after giving them proper notice, then you can file an eviction (aka unlawful...

HOW TO START BUYING & INVESTING IN APARTMENT COMPLEX BUILDINGS

Should you buy an apartment complex?  Over the years I’ve purchased quite a few single-family homes, and I’ve even acquired a number of duplexes along with one fourplex, but I’ve never purchased an apartment building.  Buying an apartment complex has always intrigued me, though.  Maybe it’s primarily an ego thing to own an apartment building, or perhaps it’s that business side of me...

HOW MUCH CAN I RENT MY HOUSE FOR?

How much can I rent my house for?  Great question.  Let’s find out. Figuring out the right amount to charge for rent can seem tricky.  The longer your property sits vacant, the more money you lose, so you don’t want to ask too much.  However, you also don’t want to ask too little, and miss out on rent income. So, how do you arrive at that perfect amount to ask for rent? In this post, I’m...

How do I make sure my tenant pays rent?

You cannot survive as a rental property owner without cash-flow from monthly rent.  While this is an overly-obvious statement, I’m shocked at how many landlords quickly rent to poorly screened and highly-unqualified tenants as if collecting monthly rent didn’t matter. If you have a tenant that is paying late or not at all, short of hounding them (legally) & evicting them, there’s nothing you...

HOW TO GET A RENOVATION LOAN TO FLIP A HOUSE

Despite how exciting real estate investing can be, knowing how to get loans for flipping houses can be frustrating.  You certainly don’t want to end up with a vacant half-rehabbed property that you can’t finish because you ran out of money. The good news is there are a variety of ways you can get loans for flipping houses, so let’s figure out what they are. Unsecured personal loans & lines of...

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