Landlording for maximum profitability and Financial Independence
I asked my Section 8 tenant to leave recently. In reality, I did not ask her, I demanded she leave by 7/31/2014. This was a tenant that has been with me since 2007, over seven years. Well before I started getting into my 4-plexes and adding a significant amount of rental property to my portfolio. The reasons were many…
Continue reading “Why I asked My Section 8 Tenant to Leave”
I screen hundreds of renters every year for an apartment complex.
I see lots of background checks. I am going to show you how to approve tenants without ever meeting them. I have approved hundreds of renters without ever seeing them. Are you still stuck on seeing and meeting renters? Give it up, it is not necessary. I cleaned up a 120 unit apartment complex by creating criteria that keeps most bad tenants out, without ever even seeing a tenant.
Continue reading “How to Approve Tenants Without Meeting Them”
My tenant called me on Saturday to let me know that her air conditioner does not work. It was humid, the temperature was in the 80’s, and she had a new baby less than a couple of weeks old. As a landlord, you have the choice of being a phone call taker, or not. You have the choice of doing the repair or not. As always, it helps to know a few things, about a few things, so you can make the proper decisions…
Continue reading “My Air Conditioner Does Not Work. Help!”
If you are like most landlords or property managers, you are always looking for the highest rents, after all, no one I know shoots for the lowest rents.
But there comes an amount where the rent exceeds the value of the property. Once that happens, you would think that you would not be able to find a renter. This is not the case.
Continue reading “How to Get Higher Rents, the Hard Way!”
I paid off my mortgage. I am not talking about my personal residence; I am talking about paying off my rental mortgage. Why would anyone want to pay off a mortgage on a rental? After all, the interest rate is tax deductible, and everyone knows mortgage debt on a rental is ‘good debt’. Maximize it for all you can, leverage, leverage, leverage to the moon!
Here is why you should pay off your mortgages, even if it is on a rental.
Continue reading “I paid off My Mortgage!!”
I get asked all the time how to fund real estate investments. There are many ways to fund real estate investments. Most real estate investments are funded the old fashioned way, a mortgage. But there are a lot of other ways too…
Continue reading “How to Fund Real Estate Investments – Live In Opportunities”
As a long-term Real Estate investor, I am always trying to determine where the money is to be made in Real Estate. I personally like passive income generated through being a landlord. It’s not as passive as some would like, but it is passive in terms of the IRS.
If you are a short term investor, a ‘flipper’, you are somewhat insulated by the long term direction of Real Estate. If you only hold for three or four months, your window of risk is short.
If you are a long term investor, which many homeowners are, the direction of RE could make or break you. Many people are relying on their home to enhance their retirement life style.
Continue reading “Where is the Housing Market Headed?”
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”
I am going to pay off one of my mortgages on my rentals this week in additional preparation for Financial Independence and Early Retirement (FIRE). It is non-owner occupied, so a refinance would only drop the interest a little bit, and cost a few thousand to do it. Here is how I plan to do it, and I think it’s one of the best ways to pay off a mortgage.
Continue reading “The Best Way to Pay off A Mortgage”
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”
