How to Fix a Range Heating Element

Range ElementThis article is about how to fix a range heating element, but it is really about more than that.  It is about maximizing your existing revenue stream.  Making the most of what you have available to you.

When you own rental property out of state, you are at the mercy of everyone.  You need someone to respond to calls, you need someone to fix minor things, you need someone to drive by the property periodically, etc.  Every one of these events takes time and money.  Your money.  Your retirement and financial independence money.

This is a recent situation that happened to me.

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How to Know if You Are Financially Secure

Financial IndependenceAt one time, I was just a working stiff.  I still am, for now.  Working a 8-5 job, sometimes on-call, weekends, and trying to climb the corporate ladder.  I was a member of a hot shot team that was selected for future management.  When you are climbing your way up, you have a tendency to make a lot of people happy, and some not so happy.

It’s fun when you are making a lot of money; but you know the money train cannot last.  At some point, a merger may knock you down, a layoff, a boss that you cannot satisfy, or some other reason that you may not even understand.

Welcome readers of OurNextLife!

Regardless, you need to make sure you are prepared.  An emergency fund comes first, then becoming debt free, then bringing in other forms of income.  I already had the first two, when I started investing in real estate.  Here is how I knew I finished the journey to be financially secure.

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How to Manage Out of State Rental Property

Out of state rental property
The Deck (at 50 degrees)

For those of you who follow my Blog, you know that my properties are very close to my own home.  All are within a few miles; the furthest is seven miles away.  It may not always be that way, and sometimes you will need to manage your properties from a distance.  Even if your properties are close, if you move, perhaps to a retirement location, you will need to know how to manage out of state rental property

I wrote a previous article on long distance property management about this a while back.  I also wrote about the disadvantages of having to manage out of state rental property.

The secret to managing any property is to have great tenants. Great tenants can think ahead, and can anticipate issues before they occur.  They take action to avoid having a problem.

Regardless of where you live in relation to your properties, you need to be able to manage them effectively.  Whether they are 7 miles away, or 700 miles away, you need to set yourself up so that you do not have to be on-site as often.

My recent trip to Florida will illustrate an example that can help.

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