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Rental Management GuysA while back, I referred to a great post by Chris Lengquist's at Kansas City Real Estate Investing named: 7 Questions To Ask Your REALTOR Before Looking For Investment Property. If you have read my blog for any length of time, you may have noticed … [Read more]
Landlords: Watch your Water Bill
When is the last time you examined your water bill? Are you sure it is correct? How much water should an apartment building, duplex, or 4-plex be using? Allowing toilets to run on and faucets to drip can add $50, $100, even $400 per month in extra … [Read more]
Low Ball Offers on Bank Owned Foreclosure Properties
Whenever I am working with a buyer and we are looking at bank owned (or REO) properties, the question always comes up: "How low of an offer can we make on this foreclosed house"? Just like many other things in investment real estate, it depends. … [Read more]
How to Become a Real Estate Investor
It seems so clear now that I have been an investor for many years, but I can remember how intimidating it was trying to figure out where/how to get started. It felt like being a freshman on the first day of high school. Just like any new … [Read more]
Landlords: Read your Leases!
Landlords, when is the last time you read your standard lease from start to finish? Should I dare say that some of you have never read it? Your lease is your contract with tenant. I assume you spent a considerable amount of time working on your … [Read more]
Advertising Your Rental Units
As I take on new investment property customers, one of the early questions is: "Where do you find tenants?". As with most other questions, I usually say "It depends". The neighborhood in which the property is located often has a lot to do with … [Read more]
Stupid Property Repairs #1
I have always preached that if you are going to do a repair on your investment property, do it correctly. You don't need to put in top notch materials, but do it right. When you skimp and try to get by with a cheap repair, you are always going to be … [Read more]
The Guidelines of Flipping Houses
Are you memorized by those shows in which people are buying run-down houses, fixing them up and reselling them for huge profits before the first mortgage payment is due? Wow! What's more, these people claim they made as much money on this one house … [Read more]
Investment Property Accounting
Managing the income and expenses of your investment properties is probably as important as managing your tenants. Sadly, I realized that although I touched on it briefly, I have never really discussed how to set up and do the accounting for your … [Read more]
Stop throwing money away at your rental properties!
Do you just write those expense checks every month for your investment properties without thinking about if the bill is correct or could be lower and/or eliminated? Although you typically can only raise rent every 12 months, it is never the wrong … [Read more]
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