What Is Your End Goal in the Real Estate Game?

beach-84631_1280-PDAt some point, we all look forward to that time we can spend on the beach, in a hammock, or even working until you drop over dead.

Most people want to get to a comfortable retirement plan, and be able to do what they want to do, with no one telling them when to go to work or what to do.

You can retire earlier, and live a better lifestyle with Real Estate, if you are planning ahead.

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Should you allow a renter to paint?

sherwin williamsThe topic of this post is should you allow a renter to paint?  With 24 units, I come in contact with many renters.  They all have their ideas of what a great place to rent looks like.  They might want their boy’s room to be blue, and their girl’s room to be pink.  I get asked all the time, “What do you feel about painting the bedrooms?”

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May – June 2014 Rental Cash Flow

packs-163497_1280-PDThe rental cash flow for the month was almost perfect.  The June rents came in like clockwork.  23 for 25 by the second of the month, one collected on the third, and 25 for 25 in the bank by the 6th of the month.  Similar to all of my other recent months.  I did generate an extra $75 for a late fee.  I challenge most any other landlord to beat that record.  More details on how to do that is in the rest of this post.

I had to do some advertising to get two new tenants for July 1, and I initiated a larger capital project.  The retirement countdown has been adjusted for the new data.

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Cap Rates and Building Valuations

calculator-424564_1280-PDCap rates are what determine commercial building valuations.  All sophisticated investors look at cap rate, even if they do not know what it means.  Some Realtors like to hide expenses, and not calculate them to get higher selling prices and higher cap rates.

This post will help you understand how commercial investors use cap rate to evaluate a building.  It can also be used as a basis for a residential rental.

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Why Using Property Management Is a Waste of Money

purse-522622_1280-PDThis post is likely to rankle a few feathers, especially for the property managers out there. But first a disclaimer; I have 24 rentals that I manage and maintain myself.

I manage and maintain a property for another person, and I have a real estate license. I even have a full-time job.  I have used a big name property manager in the past, with 100% of tenants provided by them that did not make it a year.

So I know a bit about property management and property management companies. I know many other owners that have had similar trouble with property management firms.

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How to Collect Rent On Time

invoice-153413_1280-PDThis is a post about how to collect rent on time.  It is a secret recipe that I am going to share.  The rents for June have all been collected.  23 of 25 are in the bank as of June 3, 2014.  Of course, that means I had them all in hand by yesterday, June 2.    The other two are in hand, as of June 3, but not in the bank, yet.  I challenge any other landlord to beat me on that record.  Here is how I do it.

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