Recently, I was a guest on the BiggerPockets Podcast. One point that resonated with many listeners was my desire to make a positive impact on the lives of my tenants while building wealth as a BRRRR investor. This got me thinking about what our responsibility as real estate investors should be toward making the world a better place.
There is no way that you can be sure that your tenants are going to take good care of your property. For this reason we have compiled a few tips that can be extremely helpful to you for making sure that your tenants are taking proper care of your property or household.
“Cash flow” is a term that comes up in most conversations on real estate investing—and for good reason. As a landlord, if the rent you charge is significantly higher than your expenses, that difference can not only help you build wealth but can also serve as a potential cash cushion, there to soften the blow when you have too many vacancies or when the unexpected happens and you need reserves.
Have you ever wondered, why certain storefronts, and apartments, etc, seem to remain vacant, longer, than other similar ones, which might be owned by different owners/ landlords?
Trying to learn the facts about a real estate IRA? Holding real estate in IRA accounts has been allowed since the laws were written in 1974, but only about 5% of all account owners choose this option. Why?
Rental properties are one of the most common types of real estate investments and for good reason. Owning real properties offers a source of ongoing and passive income. Also, holding a property long-term creates the opportunity for the property value to increase.
What do you really think of when you hear the term "real estate"? Do these words conjure images of luxurious dream houses and expensive cars, the fruits of wealth through successful investing? Do infomercials promising the life of your dreams come to mind? Or does real estate remind you of today's headlines, with words like "crisis" dominating the discussion?
Do I need a property before I look for buyers, or should I have a list of buyers before I find a property? The most important thing, of course, is to start somewhere - just start. If you don't have connections, investors to sell to, you're probably new to the business and might not even know a good deal if you come across it.
I remember the auto parts commercial stating that you could prevent a costly engine replacement by simply changing the oil and filter on a regular basis. The tagline was “You can pay me now, or you can pay me later.” That certainly applies to real estate. Performing preventative maintenance on a regular basis can help you avoid expensive repairs on your rental properties.
