How to screen tenants? This is one of the most frequent things people ask me. Finding a tenant and then screening them scares people. It shouldn’t. I’ll write a post and share my application in the future. For now just know I screen people before meeting with them and walking them through. This gives them…
So many people assume they need a real estate agent. But have you ever thought, “Do I need a real estate agent to buy a house?” The short answer to that question is “no.” While real estate agents can undoubtedly provide value and expertise, motivated buyers can handle this process themselves. The first few houses…
I’m a seasoned real estate veteran with over 20 years of experience and a Chartered Financial Analyst (CFA). Throughout my career, I’ve always found assumable mortgages intriguing, yet there was seldom a compelling reason to seek them out. Now, the tide has turned. After enjoying historically low rates for several years, we’re witnessing a sharp…
Real estate is a wonderful investment for many reasons. One of the best reasons is leverage and the ability to buy with no money down. You can buy as asset with other people’s money and have other people’s money pay for the loan. When I was first learning in the late 1990s I stumbled across…
Should you max out your 401k? It’s an intimidating idea. Before jumping into why you should max out your 401k, let’s step back. If you are under 50, you are allowed to contribute up to $22,500 to your 401k. This does not include employer contributions. It is also the 2023 limit. There are other nuances…
This was originally published 10/12/2021, a few weeks before I retired at 42. Last month, I wrote that we were almost ready to retire. In the next week, I plan to formally announce my retirement to my employer. I have started to tell a few close people at work. The reactions are consistent. Let’s just…
We love to read to our kids and teach them to read. (Admittedly, my wife does a much better job of it than I do, she’s great actually). There are several go-to books that I love to read them. Dr. Seuss’ “Oh The Places You’ll Go” is actually the first book I read to my…
There is a big fear that keeps people from being landlords. People are afraid that a tenant will destroy rental property. Yes. It happens. Every landlord has horror stories. The stories aren’t myths. Landlords exchange horror stories. You think you’ve done a great job screening tenants. But don’t worry about whether or not tenants will…
Should you hire a rental property management company to manage your rental house? No, in most cases you did not need to. When I started buying houses in my early 20s, I was adamant that my real estate business did not interfere with my day job or my social life. It sounds like a property…
You’re a new landlord, or thinking about becoming one. How do you maintain a rental property? Look, I am not handy. Even if I was handy, fixing things was not part of my business model. I was comfortable paying someone to do it right so I could worry about other things. But there were times…
You’ve decided you want to be a landlord. Great! Now, how do you decide what rent to charge? Determine market value The easiest way to determine what rent to charge is to observe the market. Look at sites like zillow. Also, compare your house to other comparable houses on sites like Facebook, or calling landlords…
Please teach your kid personal finance. The school system barely does. I have not dissected anything since high school. I have not used calculus. Trigonometry and Geometry have added no value to anything in my life. But I have borrowed money, saved money, made money, spent money, and invested money. We all do these things…
Deciding when to evict a tenant is tough. Let’s get a disclaimer out of the way. I am not an attorney. Nothing said in this post should be interpreted as legal advice. Speak to an attorney. Do not take anything said in this post as legal guidance, at all. To any renters/tenants that stumbled across…
A few week’s back I mentioned that I was just about to announce my retirement. I have since given my notice at work. After 22 years in Financial Services, one year as a mortgage broker, and one year as a technical writer the end is in sight. This upcoming Friday is my last day. I’ve…
What mortgage term should I have for my rental house? Seek out a mortgage length that you can afford the monthly payment when the house is vacant, but not so long that it takes a half of a lifetime to pay off. If you can’t do that, than you are buying too expensive of a…
Tenants tend to think every landlord is a bad landlord. Landlords deserve and earned this stereotype over the years. I wanted to be a better landlord. That was part of the plan. I see renting to people as a partnership. The tenant is agreeing to pay me money in exchange for a comfortable home for…
