Without a doubt, everyone has heard that real estate is all about “location, location, location.” I’ve bought in every class of real estate. I’ve bought A-class condos that I flipped, and I’ve bought D-class homes that I’m stuck with to this day. I’ve made money in every class. Even though I’ve made money in every... Continue Reading →
12 Tenant Nightmare Stories I Swear Are Actually True
I used to think that I knew what nightmares were. Then I became a landlord. I’ve seen so many types of nightmares since I began this landlording journey, things I did not even know could exist. I’ve seen mold so thick it even covered the spider webs. I have seen rotten floor joists holding up... Continue Reading →
Why Managing Your Own Properties is (Almost) Always a Huge Mistake
Being a landlord seems to be the go-to for many real estate investors new to the game. However, I can’t stress enough that from my personal experience, this has been the worst decision that I ever made as a real estate investing newbie. This is simply because now that I have been able to witness it firsthand,... 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 →
How to Upgrade Your Landlording to Make Your Investment More Passive
1. Automate If you find yourself frequently doing monthly tasks like collecting rent, paying mortgages, renewing insurance premiums, etc., then you are in luck. These are the simplest chores to automate for free. Set them up to auto-deposit or draft directly to and from your business account the first time. You won’t have to touch them again.... Continue Reading →