• Podcast Mic 1

    The Smarter Landlording Podcast: Episode #2 – The Expert Landlord

    Tuesday, April 15, 2014

      The Smarter Landlording Podcast – Episode #2 – The Expert Landlord: Lessons and Advice from 40 Years, 400 Houses and 200 Apartments. “I feel like I have lived 200 years with everything I have been through.”                   Books We Talked About How to Wake Up the Financial Genius in You by Mark Haroldson Strengths Finder 2.0 by Tom Rath Links We Mentioned HudHomeStore.com MemphisInvestorsGroup.com NationalReia.com National Reia Cruise Screeningworks.com Check out all the podcasts at iTunes…

  • Police Car

    My Tenant Called the Cops on Me

    Saturday, April 12, 2014

    Landlords often hold the mistaken notion that they are the “lords” of their properties.  In many ways they are the lord, but in some very fundamental ways they are not.   Once a lease is signed with a tenant they gain certain rights and acting like a lord may just get the cops called on you. Here is why.   Your lease grant the tenant legal possession of your property.  Your property is now their home and their home is their castle so to speak.   So…

  • magnifying-glass

    Investors Are Being Watched

    Monday, April 7, 2014

    We should all be aware by now that serious Wall Street money has gotten into the landlording business.  Hedge funds have been buying up thousands of foreclosed homes all over the United States and placing them on the rental market.  I have been watching this process take place here in Memphis, TN and have wondered how it is all going to shake out in 5 or 10 years.  Looks like others are starting to watch and wonder as well. This article from the Memphis Daily…

  • Head in Hands

    Newbie Fails

    Friday, April 4, 2014

    Remember how I spoke about feeling like a newbie?  Well, it didn’t end there. In fact, I’m constantly reminding myself that I’m an amateur. In an effort to encourage those of us who are completely green to real estate investing, I’ve shared a few of my most humbling mistakes below. Hopefully, you will be able to avoid some of these same pitfalls. Please share some of your novice blunders too!   I learned pretty early that easy work can be made hard if you don’t…

  • saw

    Landlords, Don’t Do This!

    Thursday, April 3, 2014

    Landlords, don’t do this.  Not even for $17,900. 

  • Wealth

    Self Directed IRAs – A Smarter Wealth Building Tool

    Monday, March 31, 2014

    One of the first things I learned about when I was considering getting into real estate investing was the self-directed IRA.  If you have never heard of such a thing, a self-directed IRA is very similar to the more “traditional” IRAs that most associate with their jobs.  The main difference is your investment choices are not limited with a self-directed IRA.  With a self-directed IRA, the sky is almost the limit. A self-directed IRA is just that, self directed.  You make the choice of where…

Real Estate News

magnifying-glass

Investors Are Being Watched

We should all be aware by now that serious Wall Street money has gotten into the landlording business.  Hedge funds have been buying up thousands of foreclosed homes all over the United States and placing them on the rental market.  I have been watching this process take place here in Memphis, TN and have wondered how it is all going to shake out in 5 or 10 years.  Looks like others are starting to watch and wonder as well. This article from the Memphis Daily…

construction-site

The Building Boom Is On!

In apartments that is. I have been noting that rents have been going up all over the country.  Vacancy rates are also historically low.    These are conditions that make it nice to be a landlord.  But these conditions are also good for apartment builders.  Builders are responding to the increased demand for rental units and the incentive of increased profits through increased rents by building new apartment complexes all over the country.  Here are just a few examples in San Jose, Philadelphia, Charlotte, Nashville,…

Buying Properties

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…

FederalHousingAdmin

Getting a 203K Loan? Expect Trouble!

Yeah, I said it. The 203k loan is troublesome. But now that I’ve gotten that out of the way, you should know that the FHA 203k brought my real estate investing aspirations into reality. There is a plethora of information out there regarding FHA’s 203k loan. You can see details of the loan here: http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/sfh/203k/203kabou. Basically, the 203k allows you to finance a property as an owner occupant with a 3.5% down payment. So why is this so special? The 203k allows the homeowner to finance…

Sealing the Purchase Contract

The One Clause You Must Use When Buying a Property

You never know when a potential deal will come along.  I have literally gotten a property under contract less than an hour after talking with the owner.  That is why I always have a copy of a purchase contract on hand.  Because you really don’t ever know, so be a smarter landlord and be prepared. I like to keep my purchase contract short and sweet.  It gets right to the point describing the property, how much I will pay and when I will close.  I…

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