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BEST FLOORING & CARPET FOR RENTAL PROPERTY

Two major considerations you’ll face owning rental properties are renovation costs and cash-flow.  The flooring you choose for your rental properties affects both of these. You don’t want to go too cheap on your flooring that it looks unappealing and requires replacing every couple years.  However, on the flip side, you don’t want to opt for flooring that’s too expensive and puts you over...

BEST ELECTRONIC ONLINE RENT PAYMENT SERVICE FOR LANDLORDS

Let’s face it.  We’re all busy people.  With families, full-time jobs, and other important commitments, we want to do whatever we can to put our rental property business on autopilot.   The great part about running a real estate investing business is that much of it can be automated, and that includes collecting online rent payments.   If you’re still running around town picking up rent checks...

HOW TO DO 100% FINANCING ON AN INVESTMENT PROPERTY

I get it.  Whether you’re just starting out in real estate, or you have a few properties under your belt, you want invest with as little money out of pocket as possible, so doing 100% financing for an investment property seems very appealing.  I completely understand. Well, the good news is there are a number of ways to do 100% financing for an investment property, and that’s exactly the topic at...

RENTING A SINGLE FAMILY HOME TO MULTIPLE TENANTS.  IS IT A GOOD IDEA?

Is renting a single family home to multiple tenants a good idea?  That’s a great question. The quick answer is – it depends on the relationship of the tenants.   Renting to a married couple with children technically means you’ve got multiple tenants…the husband and wife.   The husband/wife multiple tenant situation is much different compared to two college students, who don’t know...

CONVERTING A GARAGE INTO AN APARTMENT

As a real estate investor, you want to do everything you can to maximize your property’s cash-flow.  Converting a garage into an apartment can be a great way to do that. In this post, I’ll share my story how converting a garage into an apartment nearly doubled by income for one of my properties, and I’ll also share a few tips to keep in mind before starting a project like this. Make sure...

SELF SHOWING HOMES FOR RENT.  IS IT A GOOD IDEA?

Right out of the gate, I have to confess something.  I’ve owned up to nearly 40 rental properties at one time, and I’ve easily self-managed all of them while maintaining a full-time job.  So, “what’s my confession?” I don’t show properties.   I know.  I know. It goes against the grain, and many people would frown in total confusion when hearing this, but it’s true. It wasn’t always this way...

HOW MANY HOUSES CAN YOU FLIP IN A YEAR?

How many houses can you flip in a year?  This is a very good question, and one that a lot of people ask.  However, in order to answer this question, we need to ask a few questions.  Read through to the end because I do provide an answer. What’s the average size of a house you want to flip? Flipping 4,000 sq.ft. homes would likely carry a different timeline than flipping 1,200 sq. ft. homes, so...

SHOULD I LET TENANT MOVE IN EARLY?

Should you let your tenant move in early?  This is a good question.  If you peruse different real estate investing forums, you’ll find many landlords are fine letting tenants move in early.   Personally, I’ve allowed tenants to move in early on numerous occasions, and it’s never been a problem. Here are a few things to consider if you’re on the fence about it. What money have they paid? Some...

WHY YOU SHOULDN’T RENT TO A GROUP OF FRIENDS

In this post, I want to give you a few reasons why I strongly feel you should shy away from renting to a group of friends. You know what I’m referring to.  Situations where you’ve got a bunch of friends, roughly college age, who think it’d be fun to all live together.   Well, just to cut to the chase, I’ve done this several times…signed a lease with three or more people on it, and it’s...

BEST TENANT SCREENING SERVICE FOR LANDLORDS

As a new real estate investor, I made a lot of mistakes.  Hey, I still make mistakes although I’d like to imagine I make less of them now having four years of experience.   Looking back, though, one of the biggest colossal mistakes I made was not screening tenants well.  If there are two things you get right in real estate investing let it be these two: carefully consider your rehab costs, and...

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