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…
All posts in Real-Estate
What Happens When A Tenant Dies In Your Unit?
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…
A Bad Experience in Commercial Realestate
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…
Why I don’t over leverage
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…
5 things to look for in a neighborhood
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…
The story of 2 rich landlords:
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…