If you’ve been around real estate investors, agents, brokers, or contractors, you may have heard some of them toss around the term “good bones.” Do you know what it means to say a house has good bones?
When you invest in real estate with the goal of managing income-producing rental properties, there are four rules you must live by. First, you have to subscribe to the principle that you make your money when you buy. In other words, you should only invest in a property when the price makes sense.
As most of us agree, real estate has gotten too darn expensive. In markets from San Francisco to Manhattan and everywhere in between (including here in Houston), housing costs are mostly still climbing.
When it comes to moving, a lack of space is one of the most common reasons families take the plunge. As families grow, so does the need for more space. One of the primary concerns is often the number of bedrooms.
The life of a landlord is unique. No two days look the same, and the only thing you can expect is the unexpected. The more properties you add to your portfolio, the more challenges you’re apt to face.
Building wealth entails diversifying your assets and generating as many different revenue streams as can. Owning rental properties is a great example of having established diversified revenue streams for your portfolio.
Whether you’re buying your first home or this is the tenth time you’ve moved in a decade, it’s important for you to have a plan for exactly what you’ll do after closing and moving in. Being systematic and purposeful in your approach will prove to be enormously helpful.
When you see a video presentation about a house flip on TV, it looks simple. Of course something inevitably goes wrong in the middle of the episode for dramatic effect, but the homeowners overcome every misfortune somehow and turn a major profit.
You’ve heard the statement “love your neighbor as yourself” hundreds of times before. And even if you don’t know where it comes from or who said it, the message is pretty clear. But what if we actually took this statement to heart and literally loved our physical neighbors – the folks on your street – as we loved ourselves? In short, it would transform our local neighborhoods and cities into loving communities – which is exactly what they were designed to be…. [Read More]
Have you ever been to a dinner party, in a checkout line at the supermarket, or working out at the gym when someone asks you what you do for a living? Instead of providing a simple response, you sort of fumble with your words and attempt to cushion the blow before explaining that you’re a landlord…. [Read More]