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…
While everybody has been freaking out I’ve been trying to keep a level head and make the best of this lockdown. I’m not letting this crisis go to waste. So far I have gotten stronger and have made money all while in quarantine. I have been living in Beijing all year and have self quarantined…
Owning commercial real estate is a totally different game than residential. Especially when dealing with small businesses. The people that I’ve dealt with are unbelievable. This is one of the many stories. Sometimes I’d get a corporate tenant in one of the commercial spaces and it would be great. I’d receive rent on time every…
Out of all of my properties I maintain minimal leverage. It improves the cash flow and minimizes my stress. A good example of why I don’t have a lot of mortgages is this month. The bi-annual city shakedown happened. In most of the suburbs and now in some cities, the local government will walk in…
I’ve often thought about buying a sub shop or a pizza franchise. I love the food and the ones I eat at always seem busy. Everybody knows their name and brand. It sounds so cool owning a pizza place too, just sounds fun. I looked into buying a pizza franchise that I am very familiar…
Before I invest in a property I consider all of these factors of a potential neighborhood. A neighborhood doesn’t have to have them all but they’re all signs of healthy areas. If you think of all the popular areas of your city they will most like have some of these features if not all. Every…
I met a man at the bank I was working at in 2010 in Ohio. His story helped me realize that smart and calculated growth is critical in the real estate business and the dramatic affect that over leveraging can have on your business. It’s easy to understand why you should take your cues from…
