I’ve been asked many questions by people trying to make it in this business, how it works, how to start and how to make it. I’ve been thinking about it and decided to write it all down and give a guideline how to be successful in this business and how not to fail. 1. Cash…
What an amazing and volatile last year. The worst thing that could happen to the majority of the population, happened. When it comes to real estate we saw the rent moratorium in many cities as well as tenants refusing to pay. At the same time we’ve seen demand for housing surge! And with the low…
Everyone wants to be a homeowner. Some only need 0,3,5,10% down and boom! They get to make 360 monthly payments to the bank and have the ability to say they own a house. When in reality, they own nothing. When you get a mortgage the only person that makes money is the bank. Let’s take…
I found a house in my favorite neighborhood that was still very cheap. I assumed that they were underwater still from the housing crash or it needed a lot of repair. Either way I knew they couldn’t afford it, because of what it was listed at. It was an all brick duplex built in the…
When you’re living in Chicago or anywhere near the Great Lakes, winter comes early. You have to make sure your investments are safe during this time. With so many components to maintaining a house, winterizing your home is the smartest investment. Whether it’s your primary residence or your rental properties, there are many things you…
July Rental Income Report July was an expensive month this will happen a couple times a year. It’s what I prepare for and what I’m always telling people to be aware about. I had a few expenses this month. Lets start with the income: The income was the same as the last report all units…
All About The Short Sale Home Whether it’s your first home you are purchasing or your second or third, buying a home is a lengthy, intimate process. If you’re buying a short sale, it can be even more involved, ranging from simple to complex. That’s why it is so important to really understand everything about…
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…
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:…
