There’s a peculiar thing about owning real estate: most of the expensive things don’t send you a monthly bill. The bank does. The insurance company does. The property tax people certainly do. The roof doesn’t. Neither does the HVAC system. Or the plumbing. Or the electrical system. Or the windows...
Every landlord has fantasized about this tenant: the rent arrives on time. No complaints. No maintenance calls. No arguments with the neighbors. Months go by and you occasionally remember: "Oh, right. I own that place." Perfect tenant. Or so you think. Then one day the tenant moves out. You walk ...
Inspired by some of the "lessons it took me years to learn" threads floating around today, I am curious specifically about the financial and bookkeeping side of things, because I think that's where some of the most expensive mistakes happen quietly. Mine was treating my portfolio like one busines...