After managing 100 units of her own portfolio, LeAnn Riley shares a few tips of her own on property management: Getting market rents Keeping up with the market is essential. Even with long-term tenants, be sure to build in a 2%+ accelerator of rent into the lease. This keeps rents moving forward with inflation. Picking the right tenants Full criminal and credit
The most common issue for new real estate investors is how to get started. They tell me it’s a combination of too much information and opinions from the internet, and confusion over which strategy works best and is easiest. My answer is that investing in real estate is extremely personal and can be confusing. If you’re married or have an
What demographics are important when investing in real estate in most geographic markets? Many people are forced to invest in a market other than where they live, because it may be too expensive to cash flow in your local market. “What do I consider when figuring out where to invest in the US?” I can help you figure that out.
Are you trying to push your real estate investing to a new level? Typically, the reason for creating a joint venture or partnership is to grow a real estate portfolio more quickly. It might be because partners could complement your skills, a bigger deal could mean greater financial incentives, you’ll be sharing liabilities, and it will allow you to take
I grew up in a family of entrepreneurs. My dad had his own plumbing business and my mom combined freelance reporting for a radio program and being an artist. The conversation around our dinner table was about business and how you can do or have anything you want with no restrictions. People develop traits and habits from their environment and
Things are changing in a big way – the economy, the market, our social interaction, and a new year is upon us. I love this time of year as it’s a reflection of what has already occurred AND an opportunity to create something brand new. To leave behind what–or who–didn’t work in your life and choose to embrace what DID
Property taxes can seem outrageous, and sometimes actually are! I certainly thought so when looking at a notice from the county awhile back on a property I had purchased. There had to be a mistake in the assessed value. It was way too high. Where did they get that number? The Realtor who assisted on the purchase told me to
I spent many years investing in real estate in south Minneapolis, buying run down–even condemned–duplexes and four-plexes. My husband at the time was the handyman, bringing these properties back to life along with a crew of subcontractors. We rented the updated and remodeled apartments through a government-subsidized housing program, Section 8. We chose this model of investing for several reasons.
Most people believe they need a large down payment to even start investing. IT’S NOT TRUE! It’s a big myth, and without any further information the majority of people stop right there. Does this sound familiar? Is this you? The truth is there are a ton of ways to finance real estate deals. There are methods that are more sophisticated
One thing I notice about successful real estate investors is they have an open mind. That’s important because deals don’t always go as planned or turn out the way you expected. If you are stuck in your thinking or wanting to find deals that fit EXACT parameters, the process becomes much more difficult. These are the people who are the