Smoking in a Rental Property

no smokingAre you aware of the expenses associated with allowing a smoking in a rental property?  If not, you need to understand that a smoker will cost you at least 10% of your profits due to increased turnover costs and additional vacancy. That is an unscientific number, and I may venture to guess it may be much higher.

Smoking in a rental property will cost you plenty in term of lost profitability.

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Rental Property Cash Flow October 2014

rentIt’s time for another report on the rental property cash flow.  The month of September was extremely busy.  I had a brief trip to Florida, where I looked at several areas to potentially invest in.  While no properties actually excited me that much, it was a great trip.  I did realize another thing.  While Florida might be a great place to spend during the Minnesota winters, it is a bit humid during the summers.  Even in the morning.

So here is how the cash flow evolved for the moth.

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    It’s not always fun and games when you are a landlord.  Life is not always fair, and even in a win/win situation someone loses more than the others.  In the landlord game, you need to win enough to be profitable. Landlording is not always making large banking deposits and Caribbean vacations.  Sure, around the world…
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Expert Landlord Advice and Landlord Interview

How-to-get-Higher-Rents-the-Hard-WayI was featured in an article involving interviews of 26 landlord and property investors.  All the landlords were asked questions and for them to give some landlord advice.  I was honored to be in that elite group with some other very great property investors.

They asked me, along with 26 other landlords, what is my number one tip for newbie property investors.  The answers were broken down into four categories.  Each investor was asked for advice, and each investors advice put into the following categories.

Buy Smart

Plan Well

Tenant Management

Team Building

If you have been reading this blog for any length of time, you know I added advice about Tenant Management.

Read all the advice, including my own here

 

 

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Your Complete Guide to Effectively Handling Tenant Evictions

evictionIf you have been a landlord for any length of time at all, the topic of tenant evictions is on your mind on a continual basis. If you have been doing the right things with your tenant screening, tenant evictions are  on your mind a lot less. If you need the rent to pay the mortgage on the rental or you will lose it, you are praying every week it doesn’t ever come to that.

No matter how well you screen tenants, no matter how great your tenants are, you will at some point be in the position where you may have to evict. Divorces happen, deaths happen, people get laid off and people have friends that cause a ruckus so large you have to do something.

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How to Make Money Traveling

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Should You Rent or Buy a Home?

Rent or buyThe question to rent or buy a home is always a great one. There are many calculators on the web that compute all sorts of things, including depreciation, appreciation, tax deductions, etc. But none of these calculators factor in the flexibility of renting and the financial advantages you can have if you rent.

If you rent and take advantage of its perks, you can be farther along the path of financial freedom by renting instead of buying.

There Are Many Advantages to Renting

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Replacing Your Salary with Rental Property Income

money-wallpaper-for-pc1.jpgRental property income is not as safe as a government pension.  It is not as safe as a government bond.  It is not even as safe as a salary, depending on who you ask, and what your temperament is.  But based on the risks involved, it should have a greater return.  And the risks can be mitigated, if you screen tenants property, know what to look for, and keep your property maintained.

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The Ultimate Comprehensive List of Tenant Red Flags

tenant red flagDo you know what tenant red flags you should be on the lookout for?

When you are screening tenants for your rentals, it is pretty easy. You take an application, submit it to a screening company and wait for the results. You have pre-set tenant selection criteria, and you compare against the criteria. You let all the incoming prospects know what you are screening for, and you let them self-screen as much as possible. After comparing the results to your criteria, if the tenants pass, you accept them. If not, you move on to the next applicant.

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Common Tenant Issues and How to Handle Them

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August September Rental Cash Flow

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