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Finding good tenants

Finding good tenants

Finding good tenants   I was at a lunch meetup this week where one of my friends was telling me about how they are moving away from the Padsplit company and going to self-manage instead. And the biggest reason for that has to do with the tenant selection process Padsplit uses. If you are not familiar with Padsplit, it is a novel idea. Instead of renting an entire house to one family, the...

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It doesn’t float uphill

It doesn’t float uphill

It doesn’t float uphill   Yesterday was a busy day for me, and it was not things that were planned. That can be either a good thing or bad thing depending on the circumstances. Mine was a combination of the two. Let me tell you about it. We just filled a nice two-bedroom one bath mobile home last week, which made for a busy week as well. The reason for that was we needed to get all the...

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Substance over form

Substance over form

Substance over form   I had an interesting case come across my desk this week that had to do with a lease option going bad. At first, I typed “gone bad,” but the situation has not fully resolved, so I changed it. But it’s a great illustration of what not to do as an investor and I thought I would tell you about it so you don’t make the same mistakes. Lease options have become a popular exit...

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Soaking wet with three-day old pants

Soaking wet with three-day old pants

Soaking wet with three-day old pants   I am soaking wet and quite a bit dirty right now. And if truth be told, I have had the same pair of pants on for three days straight. Now that may seem a bit odd, but let me explain. On Tuesday afternoon I got a call from a tenant. She was a little frantic because when she went to go make the baby a bottle, she noticed there was no water pressure on...

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Why using a lease option is a good idea

Why using a lease option is a good idea

Why using a lease option is a good idea   I am starting to feel old ya’ll, and it’s not because I’m about to be 41 years old. Granted, I am in a strange age spot. I often make song, show, and movie references from my childhood that the people a little older than I am may or may not get, but the people younger than I am often have no idea to what I am referring. As a matter of fact, it’s a...

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