If you have ever found a $1 bill on the ground, you sometimes feel like you just scammed the entire world. Free Money! It’s not like you just saw someone drop it, but you see a dollar bill and no one is around. Somehow, that measly $1 is very enjoyable feeling. Even a quarter, when there are also a few other coins around, feels great. Continue reading “It’s like Finding Free Money!”
My Tenth Investment Property and Fourth Four-Plex
All of the investment property I was purchasing in the recent years was in the same apartment complex. They cash flowed great, but there was quite a bit of deferred maintenance in them when they were purchased. There were pros and cons to owning in the same complex. One downside is the properties were all in the same place. What happens to the neighborhood, happens to your investment. Continue reading “My Tenth Investment Property and Fourth Four-Plex”
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My Ninth Investment Property, my Third 4-plex
- Investment property
By August 2009, I was ready for another investment property purchase. The previous properties I had purchased were going well. I was looking in the same complex, as I knew the process and knew the rental market. Continue reading “My Ninth Investment Property, my Third 4-plex”
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A Week in the Life of a Landlord – 2014-03-16
A Week in the Life…
What is it really like to follow me in my footsteps? Keep in mind, every day began with my real job, from ~8-~5. This is somewhat is a typical week, maybe even a bit slower than most. Follow me in a week in the life of a landlord. Continue reading “A Week in the Life of a Landlord – 2014-03-16”
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Malware SUCKS!
I was attacked by a malware virus, but now all is permanently well, I hope. I just know malware sucks!
I deleted and re-installed my WP site this AM, but if I would have had WordFence, it would have been easier. I have it now. I have only been blogging for a month now, I backdated a few entries to make it look like a longer period (lol). Luckily I had a backup.
In any case, I should have had something like WordFence already, but I would never had thought my small site would ever be a target. I guess I should take that as a compliment.
Thanks again to other bloggers who helped me out!
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My Rental Strategy And Property Management
I recently did a guest post for Kim at Eyes On The Dollar. Kim is a private practice Optometrist and a personal financial blogger. She has some great tips for financial independence and getting out of debt. She is not someone who just says “Spend less, pay bill”, she actually experienced the thrill of paying off over $30K worth of credit card debt!
Here is the link to the post regarding my Rental Strategy. I hope you like it.
There are many so called RE investors that pretend to cash flow, and they are not calculating any of the soft expenses. Management, Vacancy and Maintenance are the big three. Maintenance being a thing you can put off, and see profit, but it is in actuality deferred maintenance. I allocate 10% of rents towards maintenance in my budgets, 5% for vacancy, and 7% for management. And I expect ~15% ROI if I make the purchase.
All investors MUST have a rental strategy if they are going to be profitable. My net worth went up considerably after I started investing in rental property, and it continues to climb. My income, already decent, went up by over double.
Read More at: Rental Strategy And Property Management
Please let me know what you think of it.
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A Day in the Life … Apartment Turn
I have been working on an apartment turn over the past couple of weeks. The previous tenants moved out on 3/3, new tenants are moving in on 3/15. Only a twelve-day vacancy period. So, with 24 units I own, we are 100% full again. This is what a typical apartment turn might be like, for an average renter. Continue reading “A Day in the Life … Apartment Turn”
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A Day in the Life … Busy day
So, a break from the advice for a post. A few words about practical landlording and the often busy day.
It was a busy day in the life of a landlord today.
I went to the apartment this morning before work to pick up the last rent check that was put in the rent box the night before. All 25 (of 25) rents in the bank by the morning of 3/4/14, which is pretty good. All except my Section 8 tenants portion of the rent, $125 which I will expand on later… Continue reading “A Day in the Life … Busy day”
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Proper Preventative Maintenance
To maintain profitability in an investment property, you need to do proper preventative maintenance.
On a tenant turn, you need to check items so that they do not cause you issues later on, when a tenant is actually living in your unit. Maintenance is exponentially more difficult when you have to coordinate your schedule with your tenants. Continue reading “Proper Preventative Maintenance”
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Rent Checks Coming in Already!
I have received two rent checks already for March. I have not yet checked the rent collection boxes, but I suspect that a few will be in the boxes by tomorrow. I anticipate all 24 rents to be paid by 2/5, which is the late fee date. Most of the rents will be collected by Monday morning, and deposited in the bank. Solid tenants never bounce checks, and I have not had a bounced a check in years. So the monthly accounting goes something like this. Continue reading “Rent Checks Coming in Already!”
