Landlords’ returns are only as good as their property management. Unlike owning, say, shares in a mutual fund, bonds, or private notes, holding rental properties is not 100 percent passive. Rental income does require some work—and some skill, to boot. I see many mom-and-pop landlords make the same mistakes again and again and again. Here... Continue Reading →
How to Prevent Tagalong Boyfriends & Other Pesky Freeloaders in Your Rentals
It happens all the time. Your sweet 24 year-old renter (let’s call her Wanda) is the perfect tenant. She pays her rent on time, doesn’t treat the property badly, and she doesn’t even have any pets! Then Wanda meets Tony (cue the horror soundtrack). Tony’s a classic good-fer-nuthin’ bum—he never saw a bill he wanted... Continue Reading →
Real Estate vs. Stocks: Which Has Performed Better Over 145 Years?
What’s a better investment, stocks or real estate? And, while we’re asking this grandiose question, what’s a safer investment? You probably have an opinion already as to the answer to both of these questions. It’s good to have opinions about important questions. And these certainly are important questions – they directly affect how you grow your wealth. But... Continue Reading →
Professional Property Management vs. Self-Management: A Look at the Pros & Cons
If you have never owned a rental property before, the thought of doing so can be as tantalizing as this: Rental Income – (Mortgage + Expenses) = Profit What is not often factored into the equation is the actual management—or what you could call landlord duties. On the face of it, managing property may seem... Continue Reading →
4 Reasons Renting & Investing Beats Buying & Owning, Hands Down
On a daily basis, I speak to people who are caught up in living the “American Dream.” The story line goes something like this: Finish college Find a well paying 9-5 job Get married Buy a highly leveraged house Have kids Find a better paying 9-5 job Up-size to a bigger house and bigger mortgage Send... Continue Reading →