In the years leading up to 2002, I was working for a small consulting firm that did on-shoring right here in a small town in Minnesota. Times were a bit tough, especially right after 9/11/2001…. I knew I had to get some side hustle money flowing. Continue reading “Ultimate Side Hustle, Become a Millionaire”
Tenant Turnover, the Landlord’s Dreaded Moment
With my 24+ units, tenant turnover is inevitable. In my case, it happens every few months, to the tune of six to eight per year. Tenant turnover is not all that bad, if you get great tenants to start with. It’s when you have a marginal tenant that apartment turnover is a lot of work. Continue reading “Tenant Turnover, the Landlord’s Dreaded Moment”
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My Twelfth Investment Property, Property Flipping the Right Way
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”
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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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How to Use Credit Checks For Screening Renters
This post will tell you how to use credit checks for screening renters.
Why do we care about Credit Records and Credit Score? A credit is score is an indicator of the probability of a default, nothing more. It will show if the person has been responsible with their finances. If a person is responsible with their finances, odds are, they are also responsible with the rest of their lives. A credit score of 700 or better, indicates a solid person. A credit score below 600, indicates a person with some issues, maybe permanent, maybe temporary. Continue reading “How to Use Credit Checks For Screening Renters”
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Dave Lindahl’s Multifamily Millions Boot Camp Review
I have always been a advocate of continuing education when it comes to investments, especially RE investments. When I first saw the flyer for Dave Lindahl’s Multifamily Millions Boot Camp, it was very intriguing. These type of seminars are not a typical college learning event. They are always a lot of hype and energy. Continue reading “Dave Lindahl’s Multifamily Millions Boot Camp Review”
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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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Renter Horror Story – Mike The Murderer
All landlords have a renter horror story, I am no different. As a landlord, I meet many interesting people. As a Section 8 landlord in my early days, the people were MUCH more interesting. Now I meet people who have jobs, might have a kid or two (with the same last name), and strive for success in a more standard method. Most have never been arrested, let alone actually ever been in jail. Quite a boring life… Continue reading “Renter Horror Story – Mike The Murderer”
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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”
