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interviewI recently had a great interview with Jonathan Farber who runs the Millennial Millionaires podcast network.  Jonathan is a great guy and I thought that the interview went very well.  I hope I get a follow-up interview so I can go into more detail on some topics.

There are 1000’s of articles on how to get no money down deals, increasing the number of doors you own, how to refinance and re-leverage, etc.  My topics are how to actually be a landlord.

 

1) Spotify Link

2) Apple Link

3) YouTube Link 

 

Podcast link: Millennial Millionaires Through Real Estate Spotify

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Landlords and the CoronaVirus

Landlords and the CoronaVirusMany investors have emailed me to wonder what I am doing about the CoronaVirus.  That is what the topic is in this post, Landlords and the CoronaVirus.

The Minnesota State Governor has declared a moratorium on evictions, and the State Attorney General says he will prosecute any landlord that attempts an eviction.

Meanwhile property taxes are due, mortgage payments, insurance, HOA dues, utilities, lawn care, etc.

Landlords and the CoronaVirus do not mix in this environment.  What do you do?

Continue reading “Landlords and the CoronaVirus”

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Avoiding Debt to Retire Early?

Avoiding DebtI was recently featured in an article on an Expert Roundup.  The topic was “What steps should people take if they want to live a debt-free lifestyle?”

 

 

There are a lot of steps people can take.  Unfortunately, very few people have the willingness, or the desire to actually do it.  Debt can be good, however no debt is even better.  Living my retired life, without any car payments, mortgages (except two on 10 properties), means I sleep nearly worry free.

Here is a take on what I contributed to the group.  There are a lot of other great answers there too.

Continue reading “Avoiding Debt to Retire Early?”

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1031 Exchange Landlord Considerations

1031 Exchange

I finally sold a property. That does not mean it took a long time to sell, but I actually sold a property and used a 1031 Exchange to defer capital gains taxes.  I wanted to move out of the St Paul area with my rental, and move into a growth area.  The new mayor in St Paul will do nothing but increase taxes, and make life more difficult to do business.  So, I sold my St Paul property.

Here is what happened to the property, and how I bought a new property with a Considerations of a 1031 Exchange.

Continue reading “1031 Exchange Landlord Considerations”
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Traveling Landlord: How to Automate Your Rentals & Live Anywhere

Traveling LandlordThis is a post near and dear to my heart.  Being a traveling landlord myself,  it all makes sense.

It was produced by G. Brian Davis of SparkRental.com. 

I have been doing a lot of travelling myself doing a 1031 Exchange, and several trips (1,600 miles each way) to get it ready for a vacation rental.  Maybe a post on that adventure later…

Here is how to be a Traveling Landlord

Continue reading “Traveling Landlord: How to Automate Your Rentals & Live Anywhere”

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Millionaires Unveiled Podcast

I was recently interviewed for a podcast on Millionaires Unveiled.  I like these types of interviews, as I meet different people from all over.  Rest assured, the interviewer was doing well himself.

Rest assured, if you want to be a millionaire, you can be one.  It takes ambition, determination, a bit of risk and a desire to succeed.  It may not happen on your first attempt, but will happen eventually.

Here is the link to the podcast.

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Prescreen a Tenant

When you are a landlord, you will hear lots of sob stories.  You will eventually need to prescreen a tenant, unless you show your rental to everyone who inquires, which I used to do.  Most of the people are genuine, they need a place to stay and are great people and may be a great tenant (or not…). The problem is, their story looks the same on paper as a landlord nightmare applicant.

Here is what you need to do to easily prescreen a tenant, save time, and keep your profits up as a landlord.
Continue reading “Prescreen a Tenant”

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How to do a Bathroom Remodel Cheap

Bathroom RemodelOne of the things that make a rental unit ‘spark’, is a bathroom remodel.  A renter does not want to get a place that is grungy with a bunch of previous tenants ‘marks’ in them.  They want a sparkly bathroom, one that looks and smells clean.  One that when they have guests over, the guests are not grossed out.  Here is a recent bathroom remodel that I did, with tenants in place.

Continue reading “How to do a Bathroom Remodel Cheap”

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How to Handle Utilities as a Landlord

Handle Utilities as a LandlordIf you were like me as a landlord starting out, you are buying older properties.  Probably multifamily rentals, if you can afford it.  Often older properties are not set up for multiple families, even though they are being used for that purpose.  There are single meters in a multifamily property.  Even large properties have single water meters.  You probably wonder how to handle utilities as a landlord.

Here is how to handle utilities as a landlord for your properties, multifamily or single family.

Continue reading “How to Handle Utilities as a Landlord”