Get Real about Success
Once you become an investment property owner, you need to be prepared to make the tough calls. What do you do if your tenet is late on this month’s rent? What extra expenses are a must, and which ones aren’t necessary? We’ll answer these questions and more!
When the time comes to sell an investment property doing it the right way can potentially mean the difference in thousands of dollars and fewer headaches. The first and biggest decision is whether to sell it retail or as an investment property. They suggest making a list of the pros and cons of each method. The podcast brings up factors that go on that list. Bottom line: It’s far less hassle to sell it as an investment, but being easy comes at a price.
Do you know how to correctly address setting rental rates at your properties? It’s math, but it’s math with a lot of moving parts to consider. Raising rents causes tenants to reconsider their situation. If you lose a tenant, you lose income for a month at minimum. And if you purchase property that’s not been taken care of, you may have to displace every tenant so renovation can be done. It’s not an easy calculation.
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