• courthouse

    Evictions Are Up

    Friday, September 5, 2014

    Here is an interesting, although somewhat slanted, article from NYT on the increasing level of evictions in various parts of the country. What this article demonstrates is that it is getting harder out there as rents and price of everything else keep increasing. What the article fails to mention however is that evictions are hard on the landlords as well. I know I try to avoid filing them and I suspect many other landlords do as well. An eviction is an absolute last resort for…

  • Trashed Apartment

    Watch Out For “Professional Tenants”

    Sunday, August 31, 2014

    I have run across a few “professional tenants” in my time as a landlord trying to rent from me and heard even more horror stories from others who have unfortunately let them into their properties. Trust me, the professional tenant is something you as a landlord want to avoid at all costs. An effective screening process is a good place to start. But also knowing what to look for goes a long way.   Richard D. Vetstein, Esq. writing in a real estate column at…

  • Get It In Writing

    A Quick Guide For The New Landlord

    Saturday, August 30, 2014

    If you are thinking about buying your first rental property, or perhaps you have somehow ended up with a property and have become a landlord by default, there are a few things you should do to ensure your transition to landlord goes as smooth as possible. Here is a quick guide of 8 essential steps every new landlord should take. Develop a Solid Lease – Don’t just buy a generic form from Office Depot of cobble one together from the internet. Pay a lawyer to…

  • Most Expensive Apartment

    The World’s Most Expensive Apartment

    Sunday, August 24, 2014

    Check out the world’s most expensive apartment. Take the tour or inquire about availability here. Must be nice!

  • Get It In Writing

    Tenant Moving Out? Insist On A Written Notice

    Tuesday, July 29, 2014

    Ever been told someone’s name and then instantly forget it a few minutes later? Have you forgotten to pick up something from the store because you did not need to make a grocery list? Of course you have, we all have. It is human nature. We are so busy that it is hard to remember everything we need to remember. We landlords are no different. We have so much going on that sometimes it can be hard to keep track of what day it is….

  • Storm Clouds Over The Neighborhood

    Not Everyone Likes Section 8

    Saturday, July 26, 2014

    If you missed it, the last Smarter Landlording Podcast featured longtime real estate investor Arnold Dormer discussing the Section 8 program. Arnold has been participating as a landlord in the Section 8 program for the past two decades and has done very well. “The rent is direct deposited in your account at the beginning of every month” said Arnold. But Section 8 can be a controversial and unwanted program. Some homeowner associations in fact, like these around Boca Raton, Florida, are banning Section 8 recipients….

Real Estate News

courthouse

Evictions Are Up

Here is an interesting, although somewhat slanted, article from NYT on the increasing level of evictions in various parts of the country. What this article demonstrates is that it is getting harder out there as rents and price of everything else keep increasing. What the article fails to mention however is that evictions are hard on the landlords as well. I know I try to avoid filing them and I suspect many other landlords do as well. An eviction is an absolute last resort for…

Most Expensive Apartment

The World’s Most Expensive Apartment

Check out the world’s most expensive apartment. Take the tour or inquire about availability here. Must be nice!

Buying Properties

Seller Financing

Seller Financing – It’s Real!

When you are new to real estate, and without much starting capital, seller financing is the strategy that gives you hope. With seller financing, you don’t need a bank. You don’t need a hefty down payment. You don’t even need good credit. I was sure that seller financing was a strategy of fairy tales. As it turns out though, obtaining seller financing is completely possible. I bought a property with seller financing within 6 months of purchasing my first property. Regular banks would not have…

Silence Can Be Golden

Silence Can Be Golden!

Being a successful real estate investor means being a successful negotiator.   Being a successful negotiator is not easy, but it is a skill that can be learned. Browsing one of my favorite websites the other day I came upon some valuable negotiating advice and thought I would pass it along.   SILENCE The most powerful words are silent. I had a dinner with Michael Fishman (cc Monica McCarthy) last week. He said, “if even for one second you are preparing your response while someone else…

Buying Apartments

Buying Apartments? Use This Form!

For us landlords, growing our business means adding new properties.  New property additions mean more rental units and more cashflow.  New property additions also mean more tenants.  Sometimes these tenants come with the properties we buy.  I call these tenants “inherited tenants.”  Inherited tenants pose a special kind of risk to a buyer in a couple of ways.  First, as a buyer you are generally bound by their existing lease agreements.  You cannot just kick tenants out, raise the rent or revise other lease terms…

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