Cash flow: Essential. Especially when starting out. This allows you to hold for the long term. And cash flow projection needs to include worst case scenario possibilities. If for some reason you had say $400 monthly negative cashflow and bought 5 properties like this you would be required to input $2,000 monthly into the properties…
Investor? Having trouble finding a realtor who gets it? Been there. Why not throw them a bone and make it clear? I found spelling it out in a 60 second checklist helped. Sadly, I went through a few realtors before I found one who could spare 60 seconds. Now we do a couple deals a…
So today is a travel day and alas, my 2:45am wakeup, & 2hr drive led to a 5hr delay. Balls. So here’s my thoughts on streamlining your rent collecting….One of the most common questions I answer is “what do I do about rent collecting?!” Rookie landlords generally suck at this. They accept cheques (remember those?),…
Investor? Me too. Had trouble finding a realtor who gets you? Me too. Why not make it clear? See below for the scorecard I created a couple years back to help my realtor understand what I needed. It is highly specific to my target areas so adjust accordingly. Use this one as a starting point…
How is it possible, you can make a mistake and still make money? Yes, you can. The difference between failing successfully and failing unsuccessfully is one thing: education. All cards on the table, I’m biased and not ashamed about it. I am, in fact, an educator. However, I am also educated. And it has helped…
Yes, it’s totally a controversial title so that you’ll read this but it’s true. Taxes kill your mojo, and my mojo is made of profits. So why not make someone else pay them? Well, if you’re a common property owner you’re right about now thinking “that’s not possible”; you’re wrong. So how do you make…
OK I’ll preface this with some background since 99% of you reading this don’t really know me… I’m painfully sarcastic. Thi is the story of how me, a regular Joe type guy, saved $425,000.00 in a single day. There I was, shopping for properties. I’d trained my team to know what I needed. They’d been…
5 Lessons In Owning Revenue Property Let me begin by saying that any week in which you do not learn anything from your investments is a wasted week. As Warren Buffett says, put all your eggs in one basket, and own that basket. You need to manage it like it holds your first born child. …
This post is inspired by two things: – a recent experience I personally had – a recent post by someone I highly respect So you’ve decided to rent your property. For the ease of writing, lets assume it’s a single family home. You’re a rookie, but the market is “hot” or maybe you’ve got…
I’ll start by pointing out that unless some computer glitch pops up there is a “motivational” type post about 8″ below this one. … and now the meat. I love twitter. It’s a fact, I use it daily, dozens of times. I read my news there, I keep up with sports and politics and economic…
