So I have convinced you that today is a great time to buy real estate. Prices are low, interest rates are low and people will always need a place to live. All are great reasons for investing in real estate. But still you wait....why?
I have asked myself and others "What is the biggest deterrent for the average person when it comes to owning rental properties?" Most people tell me the thought of clogged toilets and midnight calls from the sheriff's office or annoyed neighbors about one of their houses tops the list. I am not saying that those kind of things don't happen (once a neighbor called about someone standing naked in the front door of one of my houses!) but they can be managed very easily with a little for-thought and planning.
I call it "front end loading" because I work really hard at the beginning so I can take it easy the rest of the time. I make a plan and stick to it. I have a great lease, great application and a unbiased person to review the applications and pick the best one according to the application. The times that I have gotten in trouble is when I felt sorry for someone and wanted to help them or wanted to get someone in the property quick and did not pay attention to my own plan.
I have made it my "company policy" to accept only good credit scores and people with good references. I do my benevolent activities outside of my rental business using the resources generated by that business to help others. I don't like to rent to relatives or friends and if one of them needs a place to stay, they are welcome at my home and I won't even charge them rent while they get back on their feet.
REALTOR.com® has a great piece about "Sanity-Saving Rules for New Landlords". These are very good tips and anyone thinking about becoming a landlord should read them. I can also recommend a couple of good, easy to read books about the subject.
Give me a call today and let's get you started on your very own inflation proof, excellent cash flow for retirement, great tax benifits and easy to start and run landlord business.
Michael Bradford
770-862-8002
I have asked myself and others "What is the biggest deterrent for the average person when it comes to owning rental properties?" Most people tell me the thought of clogged toilets and midnight calls from the sheriff's office or annoyed neighbors about one of their houses tops the list. I am not saying that those kind of things don't happen (once a neighbor called about someone standing naked in the front door of one of my houses!) but they can be managed very easily with a little for-thought and planning.
I call it "front end loading" because I work really hard at the beginning so I can take it easy the rest of the time. I make a plan and stick to it. I have a great lease, great application and a unbiased person to review the applications and pick the best one according to the application. The times that I have gotten in trouble is when I felt sorry for someone and wanted to help them or wanted to get someone in the property quick and did not pay attention to my own plan.
I have made it my "company policy" to accept only good credit scores and people with good references. I do my benevolent activities outside of my rental business using the resources generated by that business to help others. I don't like to rent to relatives or friends and if one of them needs a place to stay, they are welcome at my home and I won't even charge them rent while they get back on their feet.
REALTOR.com® has a great piece about "Sanity-Saving Rules for New Landlords". These are very good tips and anyone thinking about becoming a landlord should read them. I can also recommend a couple of good, easy to read books about the subject.
Give me a call today and let's get you started on your very own inflation proof, excellent cash flow for retirement, great tax benifits and easy to start and run landlord business.
Michael Bradford
770-862-8002
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