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Make sure you know why you are buying your investment property and when it's time to let go! People who plan ahead for the future always have an exit strategy in place before they get into a situation. You may be thinking, "What in the world is an exit strategy?" Putting it into a perspective …
First things first, I did want to go to law school, but didn't, so here's my disclaimer: I am not a lawyer, which is why I recommend you get advice from an attorney if you have questions about incorporating. But what I can tell you is, when you incorporate, it is a very easy, simple process. …
Continue reading "To Incorporate or Not to Incorporate? It’s a Wise Idea"
Before going into debt to buy real estate as an asset, you need to get your finances in order. What that means is figuring out: Where can you get the money to pay for your real estate investment? There are lots of choices out there, actually. Most people think that if you want to invest …
Continue reading "Where Do I Find the Money for My Real Estate Investment Property?"
In my previous blog, I gave you some solid lessons for doing your homework before purchasing a property to see if that property will really create the cash flow that you are trying to achieve. Doing your homework can really show you if the monthly rent amount will cover the PITI (Principal, Interest, Taxes, and …
Continue reading "Landlord Expenses – It’s Not All About Covering the Mortgage"
Alright, I know no one likes to do homework but, just like your teachers told you in school, if you don't do your homework, you will fail! The same is true in real estate. You have to do your homework to succeed. Time and time again, I've heard investors say that they just can't rent …