Use a Lawful Application When Renting to Tenants

Application To Rent
I was recently asked, "What do I do if someone I don't want to rent to wants to apply?" Answer: You let them apply. Put simply, this should be your motto: Everyone is welcome to apply. But wait! Let's you talk to them on the phone, and they have an obvious problem where you know they won't pass your screening criteria. Wouldn't doing a walk through or accepting their application be a waste of time and misleading to them?! Been there. I once talked to someone who had a recent crimina...
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Real Estate Investing Baby Steps

Taking Baby Steps
Kids are interesting beasts. One minute they lack a certain skill, and the next, they suddenly possess the skill. For example, last week my daughter could not walk. She could stand on her own. She could pick up items and inspect them while standing. But when it came to traveling, she would plop down on all fours. She didn't really show an interest in walking either. Then without warning, while hanging out in the bedroom, she stood up and took a couple baby steps like it was no big deal...
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When Does It Make Sense To Pay Off My Properties?

Mortgage Calculator to Pay Off Properties
A question I get asked regularly is: "Do you strive to pay off your mortgage as quickly as possible for maximum cash flow after it's paid off, or go for long amortizations and low payments to get as much cash flow as possible today?" Answers fall into two camps: Yes: Mortgages are bad/risky and so you should try to pay off your mortgage as fast as possible. Plus, just think of how much "extra" cash flow you'll be getting! Some people even go as far to recommend buying investment real e...
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My Tenant’s Lease is Coming To An End, Now What?

Hand Shake on Lease Agreement
One day, seemingly out of the blue, a gentlemen called me with a problem and he wanted my help. He owned an apartment building and almost 2 years ago (after he moved out of the area) his property management company signed a 2-year lease with a sex offender. Not surprisingly, people started moving out and so the management company doubled down on their strategy by signing more 1-year leases with more sex offenders. Unfortunately (or fortunately, depending on how you look at it), they couldn't...
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