Every business has a learning curve and real estate is no different in this respect. You will get terms and acronyms thrown at you that you have never heard of before and it can be intimidating to ask questions when you think it is something you should know. So now that you are here, let’s discuss what PITI is… Continue reading
We discussed the first five rental property operating expenses here so be sure to check that out along with this blog to get a firm grasp on all of the expenses you want to be accounting for. Here are the final five… Continue reading
Just like any business owner does, as a landlord you want to accurately account for any income and expenses. The most common income derived from a rental property is rental income, but what about expenses? Do you know which to account for? If not this guide is for you… Continue reading
Check out Part I and Part II of our security deposit series before reading this post and I promise you it will make more sense. The last aspect of security deposits left to discuss is when as a landlord you have a right to keep all or some of your tenants security deposit. Just like any aspect of rental real estate there are local guidelines and laws that govern this… Continue reading
If you missed part I check it out here. Now that you know how much of a security deposit to collect and when to collect it from your tenant let’s take a look at two more key elements of the process surrounding security deposits and your rental property… Continue reading
You are finished before you even start as a landlord if you are not collecting a security deposit for your rental property. Although it is not a “requirement” to collect one by law you probably want to institute one into your standard operating procedure as a landlord. Here are the basics regarding security deposits… Continue reading
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
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