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”
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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It’s like Finding Free Money!
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!”
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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”
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Inflation and Its Impact on Rents and Tenants
It’s no secret that the Federal Reserve is making money. Most of our products sold in the US, except rents, are imported. Inflation will likely start to take effect. What happens to your tenants, and your profitability, is in your control. Continue reading “Inflation and Its Impact on Rents and Tenants”
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Risk of Tenants with Low Credit Score Explained
I wanted to expand on the credit score criteria in any Tenant Screening Requirements just a bit.
It is a fact that lower credit score individuals are a high risk to insurance companies, and for collecting payments. It is a fact that lower credit score individuals engage in riskier behaviors.
Here is why tenants with a low (or 0) are high risk.
Continue reading “Risk of Tenants with Low Credit Score Explained”
