• 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….

  • Rehab Tools

    How to Fund Your Rehab

    Monday, July 14, 2014

    It takes money to make money, right? Yes and no. So, I’ve proven that seller financing is out there. You can truly buy a home with no money out of pocket. After that, what do you do about repairs? We are way to new to real estate game for our private lender to trust us with any more than we needed. I’m still baffled that we were able to convince her at all! So, we had to get creative in financing the rehab. Of course,…

  • Electric Meter

    Include Utilities? No Way

    Monday, June 30, 2014

    In Episode 4 of the Smarter Landlording Podcast, Arnold Dormer and I were talking about screening tenants and what we look for in a good tenant. One of the points that Arnold made was that the tenant had to be able to get the utilities turned on in their name. I could not agree with Arnold more. Yes, I know some landlords keep the utilities in their names and then add the cost onto the rent. Or they charge a higher rent because the utilities…

  • Arkansas

    The Worst Landlord/Tenant Law?

    Saturday, June 28, 2014

    Does Arkansas have the worst landlord/tenant laws in the country? How should the eviction process work? Check out a short video on the topic here.

  • The Smarter Landlording Podcast

    The Smarter Landlording Podcast – Episode 4 – The Section 8 Landlord

    Sunday, June 22, 2014

    The Smarter Landlording Podcast – Episode 4 – The Section 8 Landlord “I work for every penny in that check!”                       Links and Forms We Mentioned Requestfor Tenancy Approval (RTA) Form Top Section 8 Inspection Fail Items Sample Section 8 Voucher Form MemphisInvestorsGroup.com – Stop by on the 2nd Thursday of every month and meet myself and Arnold. Check out all the podcasts at iTunes on the Smarter Landlording Channel.  Like the Intro Music?  Check…

Real Estate News

Storm Clouds Over The Neighborhood

Not Everyone Likes Section 8

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….

Bubble

Is There A Rent Bubble?

I saw this article the other day and I thought it asked a very good question considering the rise in rental rates we have witnessed over the past few years.  Are we witnessing a “Rental boom, or rental bubble?” I tend to think we may be entering bubble territory.  Rising rents have been driving up the prices of rental properties.  I read about it across the country and am seeing it here in Memphis, TN.  Rising rents have also spurred a number of new apartment…

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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