I bought my first investment property after working in property management for a year. I saw how investment properties worked first hand and wanted a piece of the cash flow pie. Feeling like I had a head start in the investment game, I ventured into my own rental investments. But even though I …
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Want to Fix Tenant Toilets at 3 a.m. and Lose All Your Money? Make These 6 Landlord Newbie Mistakes
You wake up to the sound of your phone buzzing. You’re getting your first landlord maintenance call… in the middle of the night.Out of the fog, you try to understand the problem. What?! All the toilets are overflowing, and the water is coming up through the tubs and sinks? This can’t be …
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4 Warning Signs You Have a Tenant Turnover Problem
Tenant turnover is a huge pain. When tenants move out, they leave high costs and unavoidable frustrations in their wake. And since most leases are 12 months, you could be dealing with these issues annually. First, they cost you money – the utility transfer expenses alone add up to hundreds of …
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Business or Hobby? Getting in the Right Mindset for Managing Your Rentals
When you’re getting started in real estate investing, there are two ways to approach it: as an investor or as a landlord. There are also two ways to treat the properties you own: as a business or as a hobby.Now, we’re not here to tell you that one is better than the other. Becoming a landlord and …
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9 Photography Tips for Improving Rental Property Listings
Pictures can make or break your rental property listing. As future tenants browse hundreds of home photos, you have the chance to make a great first impression… or not. If they like what they see, you have a potential tenant on your hands. If not, they usually don’t even consider the house. So, …
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9 Things DIY Investors Should Consider Before Managing Their Own Rentals
Some people assume property management is nothing more than collecting checks. If it were that easy, we’d be out of business. It’s not that simple. Just filling a property can take 40 hours of work. And with regular property use and tenants come additional time-consuming issues that may not be …
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Interested in Property Investment? Read These Tips First
Is buying property your best investment? Maybe you’ve seen a house for a deal you can’t pass up or maybe you’ve considered purchasing a rental home for years. Either way, as you think about your first investment property, your mind probably buzzes with questions. Most likely, these are the …
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Powerful Property Management Tips for Reducing Tenant Turnover
Most people don’t realize the hit their bank account takes when it’s time to find a new tenant. Tenant turnover is expensive. And it doesn’t just cost money; it also costs time. After listing and marketing the property, vetting potential tenants, conducting move-out and move-in inspections, and …
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How to File Taxes on Out-of-State Investment Property
Taxes can become quite complicated when you own a rental property in another state or country. In fact, your rental income might be subject to both federal and state taxes. Not only will you need to report income generated within your state of residence, but you might also need to report income …
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How to Increase Rent While Keeping Your Tenants Happy
Raising rent is inevitable. If you lease your property long enough, you’ll see an increase in property values, which results in increased taxes. Or you may notice an improvement in your neighborhood that prompts the market rent in your subdivision to jump. Sometimes, inflation simply demands a …
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