You’ve probably heard that the key to real estate investing is “location, location, location.” This is true for all different aspects of a property’s location—the larger metro market it is located in, the specific area of town, and even the specific neighborhood. Some cities can literally vary street to street in terms of where is good to buy and where isn’t good to buy. The very ...
Turnkey? What in the world is that? It’s a method of buying an investment property. Most people who buy turnkeys buy them because they live in an area where it doesn’t make sense to invest, so they have to be long-distance owners. Or, they have full-time jobs and/or families and are limited on how much time they can spend on an investment property. Turnkey means (usually) that ...
Should You Put Your Rental Properties in an LLC? The answer is- maybe. But maybe not. My upfront disclaimer is that I am not a legal expert of any sort, nor am I a financial or tax expert. I can only tell you, as an owner of rental properties, my experience in researching LLCs as a potential entity structuring method and the results of that research. You should not make ...
Why do houses appreciate? It’s not because they get better with time because they most certainly don’t. They can actually get pretty worn out and require substantial repairs. So then what causes the famous appreciation so many people buy houses for? Inflation. The CNN news headline on TV this morning was “America’s economy held hostage!” Merry Christmas everyone, we’re all doomed. At least that seems to ...
People think that when turnkeys are advertised as “hands-off,” it means they have to do nothing. Then, inevitably, when something goes wrong, the investor is irritated because things are getting handled. Well, I hate to break your cookie jar and spill cookies everywhere, but turnkeys aren’t fully hands-off! Turnkeys do, however, take care of a lot of the work for you. You don’t have to spend time focusing ...
Funny, coming from someone who doesn’t wholesale. I do know the basics about it though- you find properties for other buyers, flippers most likely, and do the double-closing thing or whatever it’s called. You make your money by upcharging the buy price to the investor so you make the difference. Easy! That’s why everyone says it’s such the perfect start for a new investor; because it’...
I’m back from Nica! And truthfully, can barely keep my eyes open. My flight last night got delayed into the wee hours and between that, a long travel day, and almost two weeks of Nica fun, I am falling over. But not enough to not be able to put out a recap blog. Seriously, if you have never been to Nicaragua, it’s a must. It is such a ...
A lot of articles out there are about how to be a real estate investor, but few seem to focus on why. Well wait, a lot of articles do mention why becoming a real estate investor is awesome, but they do it from the perspective (in my opinion) of looking from the beginning outward, rather than speaking directly from the results themselves. So for a fun, different kind of article, ...
Yep, I said it. I absolutely, in no way, enjoy working with contractors who do work on my house! I understand that a lot of you do, and that is totally fine. I can see the appeal and where it could be fun to rehab or fix up a property that you’ve bought, but personally, I can’t stand it. A lot of real estate investing revolves around fixing ...