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Rental Management Guys
Many landlords take a lease deposit from a prospective tenant to hold an apartment prior to move-in. I require a deposit when there is more than 1 week before the start of the new lease. State law is very clear on how this process must be executed … [Read more]
House Flipping Tips
So you say you want to get into flipping houses, well here is a list of house flipping tips that you should consider before you get started. If all you have done is watch a marathon weekend of "Flip this house", you haven't even begun to get ready! … [Read more]
Rental Scams on Craigslist
Some of you may have heard about rental scams on Craigslist before, but I thought it was worth repeating to get the word out. I suppose it is like that old saying: if I save one person from this scam it was worth it! Here is how it goes: you … [Read more]
Tenant Applicant Scam Artists
If you are a landlord, you will run into tenant applicants (and tenants for that matter) that will just lie to your face or on their tenant applicant screening. I had another one recently, that I just felt I had to share [long story, but it will … [Read more]
Low Ball Offers on Homes
Making low ball offers on homes in the retail market is not much different from writing a low ball offer on bank owned foreclosure properties. Although many of my original thoughts remain, I still get many questions about this process. One example … [Read more]
Investment Property Partnerships
I have seen investment property partnerships very often in my career. Just like in any business you will find partnerships. Sometimes they are built originally from friendships, sometimes they are between complete strangers. Regardless of their … [Read more]
Tracking Tenant Rent Payments
How do you track your tenant rent payments? Are you using spreadsheets, maybe Quickbooks, or are you doing it in your head? Every day, I am amazed by owners that have more than a few properties that don't have any system for managing rent payments … [Read more]
Best Type of Investment Property for First Time Investors
I get this question often. "Of all the types of rental property, is there one type you’d recommend for a first timer?". Not trying to be evasive, but my answer is always "it depends". When I meet a new investor for the first time, this is usually … [Read more]
8 Upgrades to Make Your Rental Unit Look Fresh for the Market
If you're like most landlords, you want to get your rental unit rented as soon as possible. Unfortunately, sometimes this means cutting corners or doing quick fixes so they can get them on the market. This can leave your rental looking tired and … [Read more]
Appliance Service Plan or Not?
I have come across many examples of landlords that require, in their lease, that the tenants carry an appliance service plan on the furnace, water heater, and kitchen and laundry appliances. In Minnesota, this is called Centerpoint Energy Service … [Read more]
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