Every investor diving into commercial or multi-family property ownership should read Ken McElroy’s book The ABCs of Real Estate Investing. The book’s subtitle says it all: The Secrets of Finding Hidden Profits Most Investors Miss. Written as part of the Rich Dad’s Advisors series, this book teaches potential real estate investors how to– Achieve wealth …
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As every landlord knows, good tenants aren’t easy to find. So, when a tenant pays rent on time, respects the property, and interacts pleasantly, you want to keep them long-term. And beyond the benefits of retaining high-quality tenants, a lease renewal avoids the losses and expenses that come with vacancy. Less advertising, fewer showings, and …
Stress is impossible to avoid in any business venture, and owning rental property is no exception. A landlord who feels optimistic when renting out his first unit will develop a less rosy perspective after dealing with difficult tenants or a middle-of-the-night maintenance call. Although stress is unavoidable, there are effective strategies for managing it. Keeping …
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No landlord wants to contemplate the devastation a burglary or natural disaster could inflict on their rental property. Unfortunately, no property is entirely safe from emergencies. The good news is that landlords can avert or minimize many crises through education and planning. While every area or property presents unique risk factors, here are some ideas …
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With new residences popping up all over the current housing market, many landlords wonder if a newly constructed property would make a good investment. As with any business venture, the answer depends on multiple factors. The landlord’s preferences regarding location, price point, and maintenance will all affect the final analysis. Let’s look at some variables …
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Many employees started working remotely during the pandemic, and few have fully returned to in-person jobs. Whether they work entirely from home or have a hybrid schedule, remote workers have specific needs since their home doubles as an office. Optimizing a rental unit for remote employees significantly impacts the property’s appeal, but where should landlords …
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Since rental income is a form of “passive” income, new investors may view real estate as an easy money maker. But the day-to-day work of being a landlord involves complex tasks and considerations that are anything but passive. An inexperienced real estate owner can encounter challenges resulting in foreclosure or massive debt without adequate planning. …
Shelter, protected by the U.S. government under fair housing and anti-discrimination laws, is a fundamental human right. A subset of these regulations removes obstacles so disabled persons can take full advantage of housing opportunities. Under these laws, the landlord must adapt his units to renters’ unique needs. He must also provide reasonable accommodations to disabled …
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When a promising, thoroughly screened renter signs a lease, every landlord hopes that the renter will prove cooperative and content to rent long-term. So, immediately set the tone for your professional relationship by making a positive first impression. First impressions occur instantly but have lasting consequences. Here are four ways to put your best foot …
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Improving energy efficiency in your rental property sounds like a win-win. Both you and your tenants will save money on utilities while protecting the environment. But the logistics of energy efficiency can quickly become complicated . . . and expensive. Fortunately, not all energy efficiency improvements require significant cost or hassle. Here are some ideas …
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