There are some people that are actually making it in this business that aren’t bullshitting. It’s rare to find them but heres a couple examples. I personally know a few people that have 30 rental units. I’m sure they have all their checks paid to them on one day of the month, but in theory…
Having been a Financial Advisor for over 10 years I’ve seen it all, including many situations that may deceive the client. After leaving the corporate side of the business and starting my own firm, which I later sold. I realized there are quite a few things that clients may not be aware of. This…
I was watching this guy on YouTube from Cleveland trying to sell a duplex. He was explaining why a duplex is so much better than a single family and how you need to buy this one. It will cashflow so much. Only one roof. 2 sources of income. He was really hyping it up, and…
Chaos in the streets. In some cities it’s probably not as bad as you think, and the National Guard has been called in, in many states. I don’t like to take any chances with these things though. So I closely reviewed my insurance policy. I was covered properly. This is what needs to be reviewed:…
I recently consolidated my rentals in the Metro Detroit market to one property management company. After months of critical thinking, and deciding on what is the most efficient way to manage my properties; I came up with a few guidelines that I plan to stick to when using a property manager. Your manager should make…
The real estate news has not been looking good around the country. A lot of landlords are losing rent. We see some small businesses failing as well. Landlords on average have been reporting around 70% of rents collected. In my personal real estate holdings I’ve been a little more successful. As of now I have…
I had a vacancy in an upper unit 3-bedroom in one of my properties. I put new windows in the bedrooms and did some updates to it. It took me 2 months to get it in rentable condition. I was extremely happy when I finally finished. I hired a less than enthusiastic real estate agent…
Every one of your units must be uniformed You notice when you go into a chain store or restaurant anywhere in the country it looks familiar to you? When you walk into the CVS you know the pharmacy is in the back, the refrigerated drinks are to the right. The colors are all the same…
When you have a rental property there might be a few small things that you will overlook. But they add up and could lead to big expenses down the road. Furnace filters Depending if you have a furnace or not (boiler) these filters are very important and if not changed they can blow up your…
I rented one of my units to an elderly gentleman named Dick. (Or who I though was a gentleman) About 13 years ago I had a vacancy and this man named Dick answered one of my ads for rent. I actually advertised in the local newspaper, which I don’t recommend. This was before smart phones…
