What is a house hack? It is a real estate investing strategy whereby you purchase a multi-family property (2-4 units) and live in one of the units while renting out the others to qualified tenants. The thinking is the rents coming in from those tenants can go towards paying your mortgage and other expenses enabling you live for free or at the very least seriously supplement your housing costs. Why should you do this? Here are some of the benefits… Continue reading
Should you allow pets in your rental property? That answer depends on a lot of factors, but I would recommend is having a clear stance on the issue when advertising your property for rent. Here are some pros and cons to consider when deciding which way to go…. Continue reading
There are several key metrics that whether you are buying a 2-4 unit rental property or a 25-unit apartment building you will want to have a firm grasp on. Cash-on-cash return is definitely one of them… Continue reading
Out with the old, in with the new. A popular phrase that certainly applies to several aspects of real estate investing. Gone are the days where you have to meet up with your new tenant for lease documents to be signed the day they move in. You should be getting the signing done well before the lease start date so that on the day the lease starts you give them the keys, they give you the move in money owed and we are on our way to a successful landlord/tenant relationship. Here are some reasons why you should be electronically signing lease docs… Continue reading
Take a deep breath. You are not the first person in the history of real estate who may have to inherit tenants to get a deal you really want to take down. With that said, this prospect can be pretty daunting if you have never experienced it. Here are some tips… Continue reading
Every real estate transaction presents its own challenges and buying an investment property is no different in that respect. This is why you want an agent who is experienced when it comes to working with investors if you are looking to purchase let’s say a house to flip or a rental property for cash flow. How do you find them? Easy, here is how…. Continue reading
It is very easy to forget certain aspects of the move in process for a new tenant. You know what helps you remember everything? Checklists. Yes, I literally mean writing or typing out a checklist of all of the things you need to do BEFORE you give a tenant the keys to the castle. Here are 3 things that should be front and center on said checklist….. Continue reading
There are certain aspects of real estate investing I could write a rambling non-coherent book about and tenant screening is one of them. One of the more crucial aspects that people miss the mark on when screening tenants for their rental property is not charging them an application fee. Here is why you should…. Continue reading
Yeah, I know. Snow removal is one of the worst parts of owning rental property for a lot of reasons, but mainly because many property owners do not put much thought into the plan for removal until the flakes start to fall. Guess what? By that point it can be to late. Here are some tips for how to effectively deal with this issue.
In every facet of life we are looking for ways to make our life easier and your role as a landlord or property manager should be no different. One way you can more efficiently deal with your properties is to make sure you have a lockbox at each one equipped with all keys to enter the property. Here is why this is a good idea….
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