If you are a landlord, you have probably heard the most recent news from the CDC halting evictions for non payment through the rest of 2020. Considering evictions in my home state of Pennsylvania were halted back in May, its been a tough year for many landlords. As far as I am aware, there is no relief for landlords who still need to pay their bills, despite the lapse in income.
Read MoreWhen it comes to purchasing an investment property, there are multiple ways to do it. You can get a loan, you can use equity, or you can use cash. There really isn’t a right or wrong way to do it, it mainly depends on your goal for the purchase.
Read MoreI feel like Section 8 tends to get a bad rap. The connotation with Section 8 is that you are renting low quality housing to low income tenants just to collect that government check. If you rent to Section 8 you are often perceived as a slum lord, which isn’t fair to landlords or tenants. I think the lack of education about what Section 8 really is and who qualifies for Section 8 is missing to the general public.
Read MoreYou live and you learn, right? So we’ve never required our tenants to have renters insurance. I have always thought that if you don’t have renter’s insurance, that is a risk you must be willing to take in the event anything would ever happen. I didn’t think it was necessary for us as landlords to require it. Until we had our first fire.
Read MoreReal estate can be a very lucrative business. It takes a lot of work, but if you’re willing to put the work in you’ll definitely reap the rewards. Prior to meeting Vince, I purchased my first multi-unit while in college. I always wanted to have my own business but I wasn’t sure how to get started. I met with a local entrepreneur and real estate investor who provided some insight on rentals and why this would be a good industry. It all just kinda clicked from there. So if someone were to ask me why invest in real estate, these would be my top five reasons.
Read MoreRetaining good tenants for many years is the best case scenario you can have when renting your apartments. Most people don’t like going through the tenant application process and filling vacancies (I know I certainly don’t!), so what can you do to keep good tenants?
Read MoreI remember my first full home renovation quite clearly. I wasn’t really sure what I was doing, but I was doing it- and I kept doing it. To complete an entire home it took us about 8 months. I didn’t think that was too bad for someone who had never painted a wall until this project. We saved a lot of what we could in the property to save money and time.
Read MoreWe frequently get asked how we find tenants, and more importantly how do we find good tenants. We’ve been very fortunate with the bulk of the tenants we have, as they are great people, but it doesn’t mean that you can’t get a bad egg from time to time. Sometimes regardless of the screenings, that one tenant can still slip through. In order to reduce that risk, this is the process we follow each time we are looking for tenants.
Read MoreAccording to the Real Wealth Network, the definition of a pro forma is a method of calculating financial results in order to emphasize either current or projected figures. A property's pro forma in real estate are its cash flow projections. So to make things simple, when you are looking to invest in real estate, a pro forma is essentially an income and expense sheet.
Read MoreSo for starters, the BRRR strategy stands for BUY, REHAB, RENT, and REFINANCE. I have also seen where some add another R to the end (BRRRR) which means REPEAT. It’s a pretty straight forward concept, but we personally had some variations with the refinance aspect of it. Want to know how it works? Read more here.
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