Landlording for maximum profitability and Financial Independence
This is a guest post from Benjamin Davis on becoming a landlord.
Back in 2011, when I started my PhD, I was far thinking I would ever imagine becoming a landlord. Fast forward to 2015, I cash out on a stock portfolio I had since I was 16 and I bought a condo all cash. This was possible due to aggressive savings and a good amount of luck investing in the stock market.
Continue reading “How Becoming a Landlord Will Help Me Retire Early”
This article will likely offend a few people, but since I have never been one to limit my posts to only the non-offensive topics, here goes. If you have rentals, you will likely have a problem with domestic violence at one time or another. Especially if you take in low credit score tenants. Here is how to deal with domestic violence effectively as a landlord.
Continue reading “Dealing with Domestic Violence in a Rental”
There comes a time in most landlord’s life, when you have to evict a tenant. It’s not a fun thing to do, but neither is paying someone else’s rent, which is what you do when you let a tenant skip a rent payment. It is not fun to see a new TV in the living room of your tenant, and wonder why your rent is not paid. Maybe you see a new hair style, or manicure, and no rent paid. Maybe it is a trip to Disney Land, Baja, or Cancun and no rent paid. You need to learn when to evict a tenant. Here is what I go by.
Continue reading “When Should You Evict a Tenant?”
The following article is a Guest Post by http://www.managecentralfloridaproperty.com/
Tips to Help Enhance The Curb Appeal of your Rental Property
As a landlord, the last thing you want is for your property to remain vacant for long. That translates to a loss of rental income. Hence, you need to make every effort to ensure your units are market ready and always inviting to prospective renters. An effective way to do so is by enhancing the curb appeal of your rental property. Homes with presentable exteriors rent quickly and tend to fetch higher rental prices. If you are looking for ways to go about it, the following are simple tips to get you inspired.
Continue reading “Tips to Help Enhance The Curb Appeal of your Rental Property”
One of the most dreaded landlord moments is when a tenant calls about a water issue. In this case, my tenant texted me about water leaking into his garage. I know enough about my own buildings, that if water is leaking into a garage, and it is sub-freezing outside, it is not good. It could be a water heater leak, a drain pipe in the ceiling dripping, a supply pipe leaking, a water meter leaking, a bath tub over flow leaking, or a floor drain over flowing.
So, I had it narrowed down right away based on the text. It could be anything. I had to spring into action. Here is what I did.
Continue reading “How to Fix a Water Heater Leak”
There are many people that have a 401K at their work place. Some companies offer a 401K match. So people wonder, should they invest in a 401K or Real Estate? These people want some of the riches of real estate. They want to purchase a rental property and they want passive income in retirement. These people want to get rich, and they know many people have gotten rich with real estate. It is their meal ticket out of their W2 job.
Here are my thoughts in where you should invest your money. Remember, I am not an investment adviser (but I did stay at a Motel 6 several times).
Continue reading “Should I Invest in my 401K or Real Estate?”
One thing that will make you more productive as a landlord, is to be able to be more efficient. Manage your time wisely, and you can be a Rockstar landlord. When you get to a property, you should have the tools necessary to enable a common fix. Some simple landlord tools. If you have a few simple landlord tools, you can make a quick fix, and not have to make a special trip. Or you can prevent damage that may occur if the fix is not done.
Here are a few landlord tools that I would not be without when I drive around to my rentals. In fact, I always have them in my tool bag in my truck. They are indispensable tools that I use regularly.
Continue reading “Landlord Tools for Maintenance”
This is a real-life example of how to diagnose and repair a Maytag F20 error code on a commercial washer. Specifically, it is Maytag model number MAH22PDAWW0.
When you have rental property, you are most profitable if you can do a few maintenance tasks yourself. In this instance, the tenants texted me that the washer in the common area was not working.
Here is how I fixed the Maytag F20 Error Code.
Continue reading “How to Fix a Maytag F20 Error Code”
If you are a landlord, you are likely interested in landlord tax planning. There is no better time to prepare for this year’s taxes than January 1 – of two years ago. If you waited too long, and are now worried about your taxes, there is only a limited number of things you can do.
I plan all year on my taxes. There are capital improvements to make, replacing items that may be working fine but will help keep a tenant or make it easier to get a new tenant. Ways to speed up expenses and possibly defer revenue.
Here are some things to ponder to help minimize any tax burden you have.
Continue reading “Landlord Tax Planning”
Once in a while, you will have a rental maintenance issue that you cannot permanently solve right away. When an apartment has no heat that is certainly one of them. There are several other types of issues like this. You may have a drain clog that you do not have the equipment to do yourself, it may be a weather-related issue, or it may be that you are just waiting on someone to do the work, or parts.
Here is an issue I came across in one of my apartments and how I eventually resolved it.
Continue reading “What To Do If Your Apartment Has No Heat”
