Archive
Train, train and retrain your tenants I tend to be an open book, especially when I mess up, because it holds me accountable and helps me to learn from mistakes. So, with that fact in mind, I’m going to tell you about something I messed up on with a rental, and then, I’ll tell you how we remedied it. I got a little lax with doing inspections on our properties during 2020. I...
Learning new things at eviction court We are 0 for 2 in magistrate court this month. How’s that for starting a real estate investor column? Truth be told, we didn’t lose both cases. They got dismissed. The first one, which took place about two weeks ago, I wrote about in “COVID, cabinets and courthouses.” But we had to go again for a different property this week. During...
COVID, cabinets and courthouses The effects of COVID-19 have reached many facets of our lives in 2020. On the real estate business level, they have has affected our purchasing capabilities — specifically how we’ve been able to purchase materials on our rehabs. It started out with 5/4 boards not being available for building decks. Then the shortage moved into other lumber areas before the...
Cool it, buster When you own rental property, there are a lot of expenses you should plan for. Most people understand making payments on their mortgage and property taxes monthly, but there are sporadic expenses you should be saving for monthly as well. They include things like vacancy and repairs. The savings we set aside for paying these costs is something we call a rental’s “expense...
Robbing Peter to pay Paul We just had our first real hot days for this year, which means landlords are about to get calls about air conditioning not working properly. Now, there are some normal things that can happen when central units go from being “off” during springtime to “on” full blast in the Georgia heat, and these typical malfunctions can hinder a unit’s ability to cool....