As a responsible homeowner, you are likely familiar with the term PMI, but since it gets thrown around a lot, I thought I’d discuss what PMI is, when you need it, and how to get rid of it. PMI stands for private mortgage insurance. Lenders require homeowners to get this when they purchase a house... Continue Reading →
Should You Buy Cheap Properties with High Returns or Nice Properties with Low Returns?
Numbers are really pretty, aren’t they? I mean, we are all in real estate investing, and it’s likely that everyone here is out for the numbers. So shouldn’t we always go for the highest ones available? Well… Not always. Maybe. But not always. I recently saw a forum post where someone asked if she should... Continue Reading →
3 Things I Love & Despise About Being a Landlord
Buying and holding income-producing rental property is great. It offers the potential for passive income, long-term wealth building, and tax benefits. Still, trying to manage your rental properties yourself can really create a love-hate relationship with your investments. Here are three of the things I love about it—and three things I despise. 3 Bad Things About... Continue Reading →
5 Steps to Raise the Rent on Newly-Acquired Tenants
Sometimes you inherit tenants when you’re an active rental investor. Many landlords instinctively want to keep inherited tenants to avoid vacancy, property updates, and the other costs and headaches that come with turnovers. Some will go so far as continuing to accept far lower-than-market rents to avoid rocking the boat. Other landlords view all tenants... Continue Reading →
Is a Fixer-Upper Worth Your Investment?
Rental properties have the potential to net you a return in two different ways: You can charge more in rent than you pay on the mortgage, resulting in a stream of revenue that could last indefinitely, and you can invest in a property with the potential to appreciate over time, so you can eventually sell the... Continue Reading →