Archive
I’m often asked how I’ve learned to successfully manage rental property. You see, every landlord takes a course in property management, either via the school of hard knocks, or from a good teacher. I was blessed to learn my property management system from two great teachers, Bill Cook and David Tilney. And because of their philosophies and strategies, we have a track record of...
I’m a firm believer in chiropractors, and I’ve been going to them since I was 5 years old. During that time, I have witnessed them do some remarkable things. I’ve seen them break fevers, stop vertigo, heal migraines and much more. One of the biggest of these things happened to me in Calhoun with Doctor Max Proctor. When I was 16, I was diagnosed with tendonitis in my right...
Last week I talked about how repairs on rental property you own can kill your cashflow. So far this year, our rental repairs have consisted of three field lines, one roof, lots of AC calls, a water heater, a water main and a big subfloor repair. All these amounted to about $30,000 in out-of-pocket expense. Think about that number for a second. If you had $30,000 in repairs, like we...
Many people make the claim that owning rental property is the best way to get out of the rat race and achieve long-term financial success. I happen to be a proponent of rental property. That being said, I’d like to challenge the above statement and see if it’s completely true. I will do that with a tale of two rentals; both scenarios took place last weekend. It was the best...
If you’re in real estate in Georgia, chances are you’ve heard someone talk about black mold. Most of the time it’s a potential tenant complaining about their current landlord, how he doesn’t fix anything and that there’s black mold all over the property. As and aside, here a word to the wise: Stay away from tenants like that. It’s not always the case, but most of the time these...