How to Drain the Risk from Your Real Estate Deals

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In today’s post, Julie Broad of RevNYou tells us how to drain the risk from our real estate deals … (if you missed it earlier this week, make sure to check out the video review I did of Julie’s Real Estate Millionaire: The Essential Starter Course)

Real estate investing can be risky. We’ve all heard the stories of the losses, the bankruptcies and the stress caused by real estate investing missteps.

As a savvy real estate investor, you should always be looking for ways to drain the risk from your deals. And the real big risks arise when you buy a property that nobody wants to live in.

Empty units can suck the profit from a property in a single month, and consecutive months of vacancies can sink you. And, if you’ve bought a place that nobody wants to rent from you, you’ll probably have a hard time selling it too!

So – how do you drain the risk from your deal and buy a property people are sure to want to live in? Instead of chasing the hottest deals …

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Tags: creative real estate investing, Julie Broad, Property Management, real estate investing, RevNYou
Posted in Property Management, Real Estate Investment Buying Strategies, Tips and Tricks | No Comments »

You Didn’t Get The Rent Because My Mailman Doesn’t Like Me

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Can you believe a tenant told my buddy Dustin that???

“You didn’t get the rent because my mailman doesn’t like me.” . . . WHAT! . . . Isn’t that ridiculous . . . lol . . .

Dustin has owned a couple rental properties and has heard some good excuses in his day . . . how about this one . . . Dustin said that another tenant told him that since there was a holiday on a Monday, they didn’t want to mail the rent and have it sit in his box for too long. Soooooo, they waited until he contacted them the next week to find out what he wanted them to do. Three weeks later he finally got the rent from them . . .

Ahhhh the joys of dealing with tenants . . . it’s amazing the stories they tell.

My REI biz partner, Dusty Keefe, has been our property manager ever since we started investing in real estate. He was the lucky one to take on that position for us (well I kinda stuck him on that one) . . . hahaha . . . thanks Dusty!

Anyway, Dusty shot a quick video to share some of the worst (aka funniest) excuses that we’ve gotten from a tenant for not having the rent on time.

Check it out below . . .
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Tags: landlord, landlording, Property Management, tenant excuses, tenants
Posted in Property Management | 12 Comments »

Profit from Problem Solving: 5 Creative Ways to Make Money in Real Estate

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In today’s post, Julie Broad of Rev N You is going to share some creative ways to make money in real estate.

“Most people spend more time and energy going around problems than in trying to solve them.” – Henry Ford

Often, finding or creating great real estate deals is nothing more than figuring out what the problem is and fixing it. Here are five of the most common real estate problems, and some ideas for solving them:

1. Landlord Burn Out

Being a landlord can be stressful and tiring. Picking just one bad tenant can make your life miserable. And, if you don’t have a clear set of goals or an easy to follow strategy, it’s often easier to throw in the towel and run away from your real estate investments.

Find the frazzled and frustrated landlords, and solve their problem. A frazzled and frustrated landlord is done dealing with the troubles of their property. Most of the time this person will think the only way out is to sell. But, in today’s troubled market they may lose money on that sale. Their real problem is dealing with the bad tenants… if it’s otherwise a good property, you could offer to become a partner on the deal. Maybe you get a 20% share of the property for just taking on the role of property manager? No money invested on your part, just some time, sweat and trouble to get rid of the terrible tenants, place some new ones and take the odd call.

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Tags: creative real estate investing, Marketing, Property Management
Posted in Marketing, Property Management, Real Estate Investment Buying Strategies | 4 Comments »