Landlording for maximum profitability and Financial Independence
Information related to my start and related to the introduction
The month of July was great, all rents were received and the rental cash flow was 100%. 25 for 25, and no vacancies. Only one was late, and that one was expected. No late fee was charged to this one tenant, but all other tenants get hit with it even if they are one day late. No major expenses were found. I did have a bit of excitement with a murder near one of my rentals…
Continue reading “July – August 2014 Rental Cash Flow”
Back to the second tenant that called from my earlier post about after hours landlord calls… This issue was an unrelated issue to the gas pressure regulator.
On the same night as I had the pressure regulator issue, I had a call from another tenant. The tenant was in the same building, his door deadbolt was malfunctioning. The door could not lock, it was getting late. It was time for “Super Landlord” to the rescue! If you are a bit squeamish about handling after hours landlord calls, read on. They are usually not that bad.
Continue reading “After Hours Landlord Calls”
I have to disclose, I am a multifamily housing landlord.
I have a biased opinion when it comes to whether a multifamily housing landlord is better than a single family landlord. If you can use the analogy of college classes, multifamily housing landlord is like the person who took math and science classes. Miss an hour of class, and you may as well drop the entire course.
A single family housing landlord is like the person who took history and music classes (no offense history and music majors…). Miss half the semester, drink a bunch of coffee and you can get caught up. I also have an undergraduate degree in computer science and math…
Continue reading “Multifamily Landlords Are Better Than Single Family Landlords”
The prospect of house hunting can be daunting to say the least. This is especially true for first-time homebuyers or those who are on a tight deadline to move, as the temptation to settle for less than what they want could be overwhelming. Since your home is the largest purchase you’ll likely ever make, it only makes good sense to choose wisely. Here are the eight most common house hunting mistakes people make, along with tips on how you can avoid these catastrophes yourself.
Continue reading “The Top Eight House Hunting Mistakes and How to Avoid Them”
Once again it is time to report on the rental income, rental cash flow, and other financial aspects of the rental property. June was a great month again. Maintenance expenses were light, and July is set up for a good month too.
Continue reading “June – July 2014 Rental Cash Flow”
This is a Shout Out and Thanks to Fellow Bloggers
I have received a lot of help from fellow bloggers who have been a large part of my success in Blogging. I am not sure of the definition of success in blogging, but you do not have to be profitable to be successfully, at least in my mind.
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When you rent to family members, you have a unique set of circumstances. Not only do you have a solid and customer, you also have a customer that might take advantage of you. This post will help you understand the nuances of renting to family members. Whether it is moving a person back into the childhood room, or renting your investment property to them, the same criteria apply.
Continue reading “Renting to Family Members and Friends”
In March of 2012, I was advertising for a vacancy that I had coming up. I had recently removed tenants that were from a different renter horror story. I wanted to find great tenants, as I already had the previous two sets of tenant in this unit go bad. Little did I know what the next horror story I was about to have… Continue reading “Renter Horror Story – Bernard the Strangler “
Have you ever wondered how how effective tenant screening can lead to higher profitability? This is my first post as an author at BiggerPockets.com and will explain effective tenant screening.
I have 24 renters, in two duplexes and five 4-plexes. I also screen for a large (120 unit) apartment complex, and approve or reject tenants. I make the call as to when a tenant is no longer an asset to our HOA community, and force other landlords to get rid of their tenants.
Through these experiences, I have seen many tenants’ backgrounds, and see how a background report can predict future tenant behaviors.
The following post contains a few random thoughts; I will focus in more detail on tenant screening topics in future articles. Be sure to follow my articles to get solid, no nonsense information on getting and keeping great tenants.
Continue reading “How Effective Tenant Screening Can Lead to Higher Profitability”
I know a lot of landlords that manage their property themselves. This is perfectly fine, but you need to know how to avoid bad tenants. Many landlords had no idea how to identify bad tenants, much less how to avoid them.
Continue reading “How to Avoid Bad Tenants”
