rehab

Best Practices for Inheriting Tenants: Rent, Leasing, etc.

Best Practices for Inheriting Tenants: Rent, Leasing, etc.

When you buy a rental house, it might include tenants in place, and these renters will suddenly turn into YOUR tenants. These tenants are called "inherited tenants.” Inherited tenants may be valuable, as you won't have to immediately spend some time filling the empty unit, and you are going to be getting income from day one. But inherited tenants may also be insecure, since they weren't set in place by you personally, and you do not have a very clear sign of just how well they have been screened or which kind of tenant they are.

What's more, they could have been badly trained by the previous landlord and will have to get re-trained to follow your principles. The exception to the rule is that those renters will be totally perfect, and you will be grateful to have them.

3 Ways To Succeed as a First Time Property Investor

3 Ways To Succeed as a First Time Property Investor

My family has been investing in real estate for several decades. My father made money and he lost money. I’ve put most of my investments into the software space, but vis-a-vis family, I've been really fortunate to get an inside look at what it takes to succeed as a property investor. All that experience has made me realize that you want to begin slow, small, and economical. The same way you’d build a software company.

Every first time property investor gets enthusiastic about investing and watching their capital grow. So they go and invest a whole great deal of money, they request their family and friends to provide them money, or they refinance the home in which they reside. They go out and buy a low quality, broken property attempting to replicate the TV shows they see on HGTV. Don’t be that person. Bad move, bad idea. So here are 3 ways to find success as a first time property investor.

4 Ways to Optimize Your Rehab for Maximum Profits

4 Ways to Optimize Your Rehab for Maximum Profits

Choosing what to include and what not to include on a rehab job is just as crucial as choosing the right contractors. Some work is obviously necessary (repainting a weary house), while other updates are more elective. When it comes to discretionary work, there are some improvements that are worth the bang for the dollar and you will find others that most surely are not.

Here are the key things to create your own “Do Not Do" list in regards to rehabbing investment properties.

x

Get Started

Enter your name if you don't have a company name.