Landlords – Don’t Loose Your Tenants When You Raise Rents and I Will Show You Three Ways to Accomplish This
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Normal 0 false false false MicrosoftInternetExplorer4 Successful landlords are the ones who are able to get positive cash flow each and every month. There are only two ways to do this: 1) increase income and/or 2) decrease expenses. It is possible to increase rents each and every year without loosing your current tenants. If you understand these three events, you will be able to raise your rents without loosing your existing tenants.
Market Cycles
Good property managers realize that the real estate market moves in cycles. During increasing cycles it is possible to raise your... continue reading >>
How to Get More Renters
Here is another video I created showing some simple yet inexpensive items you can do to your rental property to make it stand out from your competition. If you have rental property, I hope you can implement these ideas so you can get more tenants.
How to rehab worn out counter tops for less than $20
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I am a long-term rent and hold landlord. Repairs can be costly and the cost spent on repairs can be the difference between postive cash flow or a loss each month. To reduce costs in doing rehabs, I came across a product that we have used extensively now to handle worn out counter tops. We use a speciality paint to make worn out counter tops look like brand new. Watch this video that shows the before and after and how easy it is to. Best of all the paint costs less than $20!!!
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Landlords – 3 Cost Effective Ways to Communicate with Tenants
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Normal 0 false false false MicrosoftInternetExplorer4 For years property managers used written correspondence as a method to communicate with their tenants. This method was expensive as it involved costs to produce the correspondence and make copies and then was labor intensive as the property management staff had to hand deliver it to every apartment. If the communication was mailed, the costs greatly increased due to the cost of the stamp and envelope.
Forward thinking property management companies are taking advantage of technology to reduce costs and improve their communication with tenants. Here... continue reading >>
Being a Landlord Today – It is the best of times
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Normal 0 false false false MicrosoftInternetExplorer4 Every time you turn on the television or read a newspaper, you hear nothing but doom and gloom for the real estate market. Nationwide housing values have declined twenty percent, vacancy rates are at historic highs, and foreclosures are at an all time high. The logical mind would tell you to avoid the real estate market in general and specifically avoid the rental property arena. But Warren Buffett always said it was best to buy where there is blood in the street. Taking the advice of the richest man... continue reading >>
Being a Landlord Today – It is the worst of times
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Normal 0 false false false MicrosoftInternetExplorer4 Just like the famous like from Charles Dickens novel “A Tale of Two Cities”, being a landlord today can be described as the worst of times. There are many factors in the marketplace that are conspiring to make managing rental properties a challenge. Landlords are facing some of the most daunting challenges that have not been seen in the past several decades.
The biggest hurdle is the creeping unemployment rate in the United States. The national unemployment rate is over 10% while some cities are experiencing unemployment rates... continue reading >>
14 Ways to Make Money in Real Estate
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Normal 0 false false false MicrosoftInternetExplorer4 14 Ways to Make Money in Real Estate
By Jennifer Minge
Besides owning their own business, more millionaires have earned their millions through real estate. There are a multiple of methods of making money investing in real estate. Here are 21 ways:
Cash flow from rental income. This method is the traditional way of investing in real estate. You buy a property and then have a tenant that pays off your mortgage for you. The difference between your income and expenses is... continue reading >>
How to Write a Perfect Hardship Letter
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Normal 0 false false false MicrosoftInternetExplorer4 Homeowners pursing a short sale are required to submit a short sale packet to the bank. The hardship letter is just one of the required items that must be included in this packet but it may be the single item that can make or break a short sale deal.
The hardship letter details the financial difficulties the homeowner is facing and why the bank should assist them. A loss mitigation loan officer at the bank will be tasked with the responsibility of reading the letter. A successful hardship... continue reading >>