In reflecting back over the last seven years since I bought my first turnkey rental property, I’ve had a lot of time to see where the challenges with turnkeys have typically resided. I’ve learned from looking at both my own turnkey properties as well as hundreds of other investors who have bought them as well. I want to share the challenges I have seen with turnkeys, so if ...
Cash flow—it’s a term real estate investors eat, sleep, and live for. Maybe it’s used in reference to bigger sums of cash flow, as in flipping, or more often it’s used in terms of the monthly cash flow that a rental property does (or doesn’t) bring in. Either way, cash needs to be flowing in for a real estate investment to be a win. The ...
Guess what? Real estate investing is not always going to be perfect. Not to be all cliché about it, but if it were that easy and perfect, everyone would do it. Here’s the thing though. Or, here’s some good news at least. Quite often, what investors perceive to be a crucial deal-breaking problem isn’t always that bad. Now, that’s not to say that legitimately bad disasters ...
Numbers are really pretty, aren’t they? I mean, we are all in real estate investing, and it’s likely that everyone here is out for the numbers. So shouldn’t we always go for the highest ones available? Well… Not always. Maybe. But not always. I recently saw a forum post where someone asked if she should buy in a C-class neighborhood that offered a 20 percent return on investment (...
I most often get asked about my buying criteria as it relates to turnkey rental properties because that is what I have mostly bought over the years. However, the answers I give regarding turnkeys are really the same answers I would give for any rental property investment. What should you look for in a rental property? Are there guidelines? What factors should you consider? What about those pesky “rules of ...
In pilot world (I’m a pilot), I had to become very familiar with the attitudes and mindsets that get pilots into trouble. I partially had to learn this to attempt to keep myself out of trouble, but I especially had to learn about these mindsets when I began teaching flying because I needed to be able to identify these attitudes in my students. Real estate investing is no different ...
I think one of the most important things for real estate investors to be educated on and aware of is what they are getting themselves into when they decide on a particular investing strategy. For the record, I don’t think any strategy is the wrong way to go. I only think a strategy is the wrong way to go if you chose it naively with no idea what you’...
“House hacking” may be a newer term, but it describes a concept that has been widely popular in real estate investing for decades. Instead of buying a single-family home to live in, you buy a multi-unit home and live in one unit and rent out the rest. Why do this? It’s easy. You can collect income on a property where otherwise money would only be flowing out. In a ...
Have you ever gone into a real estate deal feeling like you just aren’t sure what you’re getting yourself into? Have you ever wondered if someone is trying to pull something over your head? How do you really know if the numbers on the deal you are pursuing are good? Well, there are two things to help with these questions. The first is due diligence. But due diligence ...
