Investment Property for Financial Independence

sunset-494544_1920-PDWhen I first became a landlord, it was somewhat by accident.  I didn’t even know I needed financial independence.  I wasn’t sure what to do, and how to do it.  I had a solid six-figure income job, and was able to weather out any storms.  I left one place vacant for 18+ months, because I didn’t have the time to work on it.  I took in some bad tenants, and suffered some aggravation.  Luckily, I had the income and backup capital to weather any storms. Continue reading “Investment Property for Financial Independence”

Rent Collection: It’s April 2; do you know where your rents are?

packs-163497_1280-PDI have to collect rent from 25 tenants every month.  Most drop the check in the rent box in the building.  In my duplexes, they tape it to the door.  I have one that pays cash, and I stop by to give a receipt.  Some do Bill Pay, and I get a check in the mail.  One mails a check directly, with a stamp.  One pays with PayPal.  Some tenants are roommates, and they each pay with a check.  Continue reading “Rent Collection: It’s April 2; do you know where your rents are?”

My Sixth Investment Property and First Sheriffs Sale Purchase

SheriffIn Minnesota, we have a fairly involved foreclosure process.  After a sheriff’s sale, the owners has 180 days to redeem the property, and prevent the property from returning to the lien-holder.  This was my first sheriffs sale purchase, and my sixth investment property purchase.

Continue reading “My Sixth Investment Property and First Sheriffs Sale Purchase”

My Fourth and Fifth Investment property (and first semi-horror story)

dice-536049_1280-PDI became a landlord sort of accidentally, like many people.  In my case, it was a bit more sudden.  My father, who lived in a duplex, has a stroke several years ago.  He had a large mortgage and was incapacitated.  It was an opportunity to attempt to purchase an investment property.

Continue reading “My Fourth and Fifth Investment property (and first semi-horror story)”