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”
Long Distance Property Management
I was out of town for a seminar in Dallas for a few days last week. I did not tell any of my tenants that I was leaving. How did the week go? Here is how I did long distance property management while I was away. Continue reading “Long Distance Property Management”
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The Costs of a Real Estate Education
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How I turned a Class ‘D’ Apartment Classification complex into a Class ‘B’ complex.
When I purchased my first 4-plex, it was in a first ring suburb, in a nice area of town. It was built in 1985. You could throw a rock outside the complex, and hit $300K homes on all sides. By anyone’s definition, this should be a great place. Unfortunately, the apartment classification was less than to be desired. Continue reading “How I turned a Class ‘D’ Apartment Classification complex into a Class ‘B’ complex.”
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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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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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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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Marketing Rental Property is like Selling Bananas
I am always surprised when a landlord cannot get their place rented. Sometimes, they say “I am waiting on the ‘right’ tenant”. It all boils down to marketing rental property properly. Continue reading “Marketing Rental Property is like Selling Bananas”
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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”
