BiggerPockets Daily

Most people drift along life’s current. They work 9-5 jobs, live within 30 miles of where they grew up, and don’t change careers often, if ever. 

There’s nothing inherently wrong with any of that—if you’ve considered all your options and then intentionally chose that lifestyle. The problem, of course, is that most people living that lifestyle just fell into it. 

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Landlords can expect two things to be true: The profit potential is exceptional, and tenants will have complaints. 

Homeownership comes with natural ups and downs, with the ongoing hassle of maintenance issues, frustrating neighbors, and even occasional financial hardship. As a landlord, you get to handle these issues as they arise for your tenants, so knowing how to handle tenant complaints and concerns is essential.

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As you start to explore real estate investing, one of the first things you’ll hear about is the importance of finding deals. It’s a topic that dominates articles, BiggerPockets forum posts, YouTube videos, and conversations within the industry—and for good reason. Finding deals is the lifeblood of real estate investing. 

Here are four key reasons why a successful real estate investor focuses so much on finding the deal.

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The Fair Housing Act (FHA) ensures any person can buy or rent a house or apartment wherever they want regardless of their race, ethnicity, gender, religious preference, disability, family status, or national origin. In 2015, the United States added discrimination based on sexual orientation or gender identity to the list of protected classes. 

As a landlord, you should be familiar with the FHA and what it covers. Both federal and local governments have rules regarding fair housing, and you need to understand these requirements to protect yourself and your property. Knowing the details of this legislation can prevent legal issues with tenants for violations involving discrimination. It can also help guide your marketing strategy so you avoid using language that can be construed as discriminatory.

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Not all tenants work out the way we hope. Maybe a renter is habitually late paying rent, disruptive to other tenants, or engages in illegal activity. Whatever the reason, you may be wondering: “Can a landlord break a lease?”

The short answer is—it depends. Before you break a lease agreement, make sure you have a valid reason and that you follow all the legal requirements.

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For landlords feeling the pinch of high interest rates or would-be investors wondering how they can cash flow, there’s some good news: Rents will continue to rise. However, for rent-burdened tenants, the outlook is not so rosy.

“We’re gonna build 600,000 apartments this year,” Barry Sternlicht, CEO of Starwood Capital, an investment firm specializing in hotels and market-rate multifamily housing, said recently on CNBC about America’s construction of apartments, “and 400,000 the year after and 230,000 the year after that.”

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Real estate is typically an excellent choice for long-term investment. However, as with any investment, there are potential pitfalls to consider. One is ensuring you make adequate plans to handle the complex web of property tax regulations. The tips we’ll share here will help you make smarter decisions about your property tax strategies to maximize your returns.

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The question is asked all the time: How can I estimate average rehab costs? Well, there is no average rehab cost because there is no average rehab.

Some properties will need major structural modifications; others just a lipstick approach. Some may have a recently remodeled kitchen, and others may have a 1950s galley kitchen.

But since this is such a popular topic, let’s see if we can try to make it at least (a little) feasible for a newbie to the construction world.

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I think we can all agree that the economic outlook is uncertain. You can pick almost any economic indicator (inflation, labor market, real GDP, etc.), and find conflicting and confusing signals. 

As investors, this can be daunting. How can we make wise investing decisions when the economic climate is so murky? Here are four tips on how you can continue to invest successfully in an uncertain economy. 

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Morgan Stanley real estate analyst Laurel Durkay appeared on CNBC recently to deliver the financial behemoth’s latest housing outlook. It was great news for property owners and a call to action for potential buyers sitting on the fence, waiting for rates to fall. 

Such is the shortage of inventory; in the next decade, 2 million homes will need to be built to satisfy demand. This means the rental market is set to soar.

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