What does a day look like? I’m often asked what a typical day looks like for a full-time investor. This is a hard thing to answer because any given day can be different. But to give you some insight as to the possibilities, let me tell you about yesterday. I woke up at 4:30 a.m. (that’s not a typo.) The reason I get up so early is so I can get woken up enough to be at Calhoun Spine...
landlording
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Holidays, vacancies and late payees
Holidays, vacancies and late payees I got a call recently from someone needing advice about their landlord/ tenant relationship. This caller was the tenant, rather than the landlord. This tenant was upset that they had just received — and I quote — “a nasty letter” from their landlord. The letter said the tenant either needed to pay what was owed in full or move from the property....
It came back to bite us
It came back to bite us Having a well-thought-out tenant screening process is essential to your success as a landlord. If you haven’t developed this plan, you should really give it some thought. Let me walk you through the major parts of our tenant selection process and then show you how not sticking to it resulted in us getting a house back in poor condition for the first time in...
Move-in inspections
Move-in inspections I was out doing service calls on some of our rentals yesterday. There’s a reason for that. It’s mainly that I like to handle the repairs listed on a newly installed tenants’ move-in inspection sheet. First, let me tell you about the importance of the move-in inspection process, and then, I’ll explain why I like to handle those repairs myself. During the lease-up...
Start the ball rolling
Start the ball rolling Does this scenario sounds familiar? Rent is due on the first and late after the fifth. After 5p.m. on the fifth, you send a letter of demand via email and a text that says the tenant needs to pay or move from the property by the ninth. If not, you’ll have to file dispossessory at court. On the morning of the ninth you get a frantic call from the...