My twelfth investment property was one that was almost by accident. By the time the fourth quarter of 2013 was coming around, I was not anticipating a property purchase for 2013. Things were about to change on November 8, 2013… Continue reading “My Twelfth Investment Property, Property Flipping the Right Way”
The Costs of a Real Estate Education
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My Eleventh Investment Property and Fifth Four-Plex
My eleventh Investment property was probably my most risky and most creative property I have ever purchased. It was not a REO, not even a short sale. I did not even buy the property itself, I bought the underlying mortgage from the bank. Continue reading “My Eleventh Investment Property and Fifth Four-Plex”
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Investment Property for Financial Independence
When I first became a landlord, it was somewhat by accident. I didn’t even know I needed financial independence. I wasn’t sure what to do, and how to do it. I had a solid six-figure income job, and was able to weather out any storms. I left one place vacant for 18+ months, because I didn’t have the time to work on it. I took in some bad tenants, and suffered some aggravation. Luckily, I had the income and backup capital to weather any storms. Continue reading “Investment Property for Financial Independence”
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Rent Collection: It’s April 2; do you know where your rents are?
I have to collect rent from 25 tenants every month. Most drop the check in the rent box in the building. In my duplexes, they tape it to the door. I have one that pays cash, and I stop by to give a receipt. Some do Bill Pay, and I get a check in the mail. One mails a check directly, with a stamp. One pays with PayPal. Some tenants are roommates, and they each pay with a check. Continue reading “Rent Collection: It’s April 2; do you know where your rents are?”
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My Eighth Investment Property, my second 4-plex
My eighth investment property was a bit more creative. It was a 4-plex, built in 1984 (i.e. no lead paint issues). All four of the apartments were three bedrooms, 1 bath. As with most of my properties, it was a distressed sale. Continue reading “My Eighth Investment Property, my second 4-plex”
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Why Avoid Tenants with Credit Scores Below 600?
The fact is, about 85% of America has a credit score above 600. At 600, you start to get below a 50% default rate on mortgages, and an even higher default on rents. Remember, you are not looking for an average renter for your quality unit; you want a quality renter for your quality unit. Continue reading “Why Avoid Tenants with Credit Scores Below 600?”
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My Seventh Investment Property, my first 4-plex
I owned three investment properties at this time, and was preparing to buy another. I saw values going up considerably, and thought it might be worthwhile to buy another rental property. Continue reading “My Seventh Investment Property, my first 4-plex”
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My Sixth Investment Property and First Sheriffs Sale Purchase
Continue reading “My Sixth Investment Property and First Sheriffs Sale Purchase”
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My Fourth and Fifth Investment property (and first semi-horror story)
I became a landlord sort of accidentally, like many people. In my case, it was a bit more sudden. My father, who lived in a duplex, has a stroke several years ago. He had a large mortgage and was incapacitated. It was an opportunity to attempt to purchase an investment property.
Continue reading “My Fourth and Fifth Investment property (and first semi-horror story)”
