Why buy rentals?

Why buy rentals?   Boy, we’ve had a week — maybe more than a week. You see, it really started when Ashley’s water broke last Thursday. When that happened, I spent the following Friday trying to finish everything I possibly could. I knew our fourth baby would be here soon, and I wanted to get as much done as possible in final preparation for that impending event. And I wanted…

Death in a rental

Death in a rental   I was talking to a real good friend named Nicole recently, and she had something happen in one of her houses that she wasn’t sure how to handle. It’s a very delicate situation that you as a landlord may run into at some point. And I thought I would share her story, what she learned and what she plans to do in case you ever…

Termination of lease

Termination of lease   I would like to start off this week’s column by apologizing for missing you last week. But we had an unforeseen event take place that kept me from being able to get it done. You see, Ashley went into preterm labor.   It had been a busy morning for me. I was in and out of meetings, coordinating rehabs, getting things lined up for a lease-up…

Is a master lease a good strategy?

Is a master lease a good strategy?   The very first rental property Ashley and I ever managed was a little three-bedroom, two-bath house on Kids Drive up in Dalton. At the time, we lived in Villanow, and Dalton was a place we frequented. It was also a place that we did a lot of door knocking trying to find deals, which is how we found the house on Kids…

Time is money more than money

Time is money more than money   When I was first exposed to real estate investing, I was working for an investor down in Atlanta on his rehab crew. The guy’s name was Andy, and he had two of my friends and me doing everything on his rehabs that didn’t require a license, along with some stuff that probably should have. It was great for me. I was getting to…

How we handled our rent increase

How we handled our rent increase   Last week, I talked to you about the increased property maintenance costs landlords are facing on their rental properties. We showed how some repairs are now costing 50% more than they did just a year ago. And we also talked about how price increases are prevalent on both property taxes and insurances. I concluded by showing you how landlords have no other option…

Why rents must go up

Why rents must go up   Price increases are staggering right now. I know everyone is feeling it at the gas pumps and at the grocery stores. But what about us landlords? I can say from personal experience that we are feeling it in lots of places. Let me explain. This last week I was on a call with Matt from Simple CFO. Simple CFO is a company that offers…

Paying on-time is not a favor

Paying on-time is not a favor   We experienced an anomaly this month. We had three different tenants who experienced difficulties paying on time, and they all had different circumstances.     The first tenant actually did get his payment in on time. Truthfully, he was early. But the difficulty stemmed from the fact that his personal bank account had been closed down due to fraudulent activity, and the rent…

Writ of possession

Writ of possession   I meet with a tired landlord recently at a property where they’d just finished the eviction process. And this person said multiple times during our meeting that they never wanted to be a landlord ever again.   The reason for this was the tenants owed the landlord quit a bit of money. Months prior to the eviction, one of the tenants had moved out. Because of…

Friends, family and business

Friends, family and business   I was talking to a landlord recently who had been put through the wringer by her tenants. You see, she had bought a freshly remodeled, four bedroom, 2 1/2 bath, 2,000-square-foot home and paid retail price for it.     Now, this landlord was not a hedge fund, and she was not a high roller looking to put lazy money to work. She was just…