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How do you deal with tenant complaints?

How do you deal with tenant complaints? It’d be nice if renting properties was limited to signing a lease, handing over the keys, and collecting a rent check. The reality of owning a rental property, however, isn’t quite so rosy.  All relationships have their struggles, and the relationship between a tenant and a landlord is no different.  Things to wrong from time-to-time, and tenants will...

How do you get rid of bad, problematic tenants?

How do you get rid of bad, problematic tenants?  Dealing with problematic tenants is probably the biggest thorn in a real estate investor’s side. Tenants can cause a host of problems like not paying rent, piling up trash, being loud, and the list goes on.  If you’re like me, the first thing that pops into your mind, when dealing with problematic tenants, is how do I get them out of the property...

How do you maximize rental income?

How do you maximize rental income?  As a real estate investor, maximizing your positive cash flow is essential.   For one, while we don’t want to be greedy, investing in real estate is “for profit.”  Now, being profitable is not just about putting more money in your pocket.  There are other reasons why having good looking cash flow numbers is important. How about lenders?  As you work with...

How can I increase the value of my investment property?

In this post, I’ll cover 4 ways you can increase the value of your investment property. 1) Convert attached garage into additional living space This is possibly one my favorite ways to add value to my investment properties, when there’s an attached garage, of course.  Converting a single car garage into additional living space can be done for around $5-$10K.  The work required will include...

What percentage of rental income should be set aside for maintenance?

  The answer to this question will largely depend on what condition your rental property is in.  If you’ve done your rehab well, then your maintenance requests should be few and far between.  I don’t mean that you need to rehab your property to look like the Taj Mahal, but you should have gone through the home and done your rehab to the point of “move in ready.” If you’ve got a...

What should you not do when flipping a house?

What should you not do when flipping a house? Flipping houses can be a great way to make quick money and provide a buyer with the home of their dreams.  However, a few oversights can turn this exciting venture into a financial nightmare.  Here are 7 things NOT to do when flipping a house. Forget to factor in non-renovation related expenses It’s a common mistake among newer house flippers to only...

What is the best loan to get when flipping a house?

This is a great question, and I wish I would have found a better answer to this question when I first started flipping houses.  I relied on my own cash, and various forms of unsecured personal lines and loans which, of course, negatively impacted my credit until I flipped the house and paid off the debt. Now that I’ve been a real estate investor for six years, in my opinion, hard money is the...

How long do you have to hold a house before flipping it?

How long do you have to hold a house before flipping it? There is no law, that I’m aware of, that states a minimum amount of time one needs to hold a piece of real estate before flipping it.  The only caveat, that I know of, is if you’ve purchased a property or plan to purchase a property with an FHA loan. An FHA loan is a popular form of government-backed real estate financing because of its...

How do I make my rental property stand out more to renters?

As a rental property owner, you’re well aware of the fact that your rental property isn’t the only one prospective tenants have to choose from.  Making sure your rental property stands out from the rest is essential to finding the best tenants and keeping your vacancy periods as low as possible. In this post, I’m going to give you 5 practical ways you can ensure your rental property stands out...

Should I hire a property management company for my rental property?

Deciding on whether to self-manage your rental property or hire a property manager is a question I imagine every real estate investor asks themselves.  While you’ll find people on both sides of the fence, in this post, I’ll share with you what I’ve learned about property management from owning 35 rental properties over the last 5 years. In Most Cases, Self-Managing Is Better There are situations...

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