Congratulations! You’ve decided to become a High Heels Landlord! If you have been following the blog so far, you have been working hard on wisely choosing and purchasing a property. Now it’s time to Fill’er Up!
At this point, you’ve taken my advice and sought out guidance from an attorney about incorporating to protect you and your family from liability. By now, you should have recruited a professional real estate agent to help you with your property searches and transactions, as well as sought out the proper funding for your rental property investment.
After choosing the right property you; negotiated a fair price to purchase the property, budgeted for improvements to the property, and have been getting the property ready for the market.
So, all we do now is put that For Rent sign in the yard and wait for someone to call, right? Wrong!
Making a Profit is the Goal
Always remember, as a High Heels Landlord, our biggest priority is making a profit. And up until the point of finding the right tenant — a paying tenant — we’ve actually lost money updating our property, getting it ready, advertising it for rent, etc.
But how do you find that tenant, the one who makes you profitable to the point where you can earn your High Heels status?
Well, there are a number of things to consider; defining and attracting your ideal tenant, determining the value of your rental property, how to handle applications, understanding the Fair Housing Act or the American With Disabilities Act (ADA), understanding your options for Section 8 housing, and more.
Stay tuned in to this Blog to get more information, or check out my latest book in the High Heels Landlord series, Fill’er Up – The High Heels Landlord’s Guide to Filling Your Rental Property.