It's as simple as putting EVERYTHING in a letter to the tenant notifying them of the ownership change, get them to sign a lease with your name on it, where they will pay rent and where they submit maintenance requests. Having it all in writing and in one place makes it that much easier for the tenant and for you to say "hey, I know you got this information."

And why buyers should pay attention to them?...Let's talk disclosures, a disclosure statement is a legal document designed to let you know as the buyer what issues have happened with property in the past and if it has been resolved. As a seller, you have to be honest and truthful about the issues with the property.

THE POWER OF LEVERAGE Another beautiful thing about real estate is you can hold a property and let it keep on making you money every month. Or you can cash out refinance and purchase another property, you have multiple properties making you money with the same amount of money that you put in. Why not go for it?

LLC - 1 per property or 1 LLC per multiple properties? When deciding what to do, go talk to an LLC attorney they know how to properly set-up your business to maximize the benefit of an LLC. But make sure to think long term, how many units do I want to have and how many bank accounts do I actually want to deal with?

If they did, who would sit in a cubicle and do the desk work? No one, but honestly anyone can invest in real estate and make a significant amount of money doing it. Just think if we were taught in school to save money instead of buying cool shit and invest it instead... how much better would things be?

What if your tenant doesn't have internet or checks? What now? Well... it is possible to have the tenant directly pay into your bank account through your bank. It's possible, it can get messy but it's another way to make sure that you get the rent.

It's important to close around the 6th -12th because you will have the pro-rated month of rent cleared and in your account by the time the property has closed. AKA you already have made money by the time you have closed, win win win. Also it gives you basically 3 weeks to get the current tenants switched over to paying rent with your system, not the way it was done before.

It can be as simple as taking care of the maintenance requests right away and calling to follow up on how the maintenance call went. Make sure your tenants are happy and that means you will have tenants for a longer amount of time, equaling more $$$ for you.

Things I look for in houses that have had fires in them - the brick (or siding) if they have shifted, the windows, the roof, check out the ceilings. This one is "not that bad" but will need to be gutted for sure, we'll see if we make it happen, stay tuned! 😉

Only buy the materials as you need them...DONE. Save yourself the hassle of storing and tripping over the supplies, just wait to buy them.