The 7 Dirty Truths about Landlording (Like it or Not!)

truth-257160_1280-PDIt’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 trips often come with owning Real Estate, but you still need to earn it.  Here are some of the dirty truths about landlording.

Disclaimer: Show me a landlord that is not in the business to make money, and I will show you a manager for government housing.

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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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How to Find Investment Property

man-156785_1280-PDThe best investment property is one you can walk to.  But if the deal is super-great, going across the country is OK, but it better be real super-great.  If it’s that great, others across the country are also looking at the property.  And local investors have already passed on it.  You will pay more in expenses when a property is located more than a few minutes away from your main location.  Wherever you are, you have to know how to find investment property.

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