Screen a PMC Better than a Tenant Part 2: Communication, Documentation
Wednesday, September 09
Previously in Part 1 we went over why evaluating a Property Management Company’s (PMC) procedures is important and some questions to ask to evaluate how robust those procedures are. In this Part 2, we’ll be covering why it’s so important not to assume a PMC’s communication and documentation pr...
How Many Properties is TOO Many to Self-Manage?
Monday, August 24
If you really had to ask, then you probably have too many properties to self-manage already! As a DIY landlord, have you ever found yourself thinking: Why am I doing this? When will this all get easier? Are stocks & bonds this much work? The answer to this question varies from landlord to l...
Low Demographic Area > Low Demographic Tenant > Low Chances of Success
Thursday, August 13
If you’re a buy and hold investor thinking of buying in Class C or below neighborhoods, you’re going to experience more tenant dramas than in Class A or B areas. This might seem obvious, but many new investors (especially in the Metro Detroit area, where we operate), seem to miss this point - or...
Five Mistakes First-Time Rental Investors Make (And How To Avoid Them)
Wednesday, July 08
You can also buy the worst house in the best areas Most people get into real estate investing because they want to grow their wealth or generate passive income. But when you’re just starting out as a buy and hold investor, it’s easy to make some mistakes which can delay or totally derail your p...
How to Deal with Multiple Approvable Applicants
Tuesday, July 07
Application Approved Let's say you have a tenant whose application to a property you're selling gets approved. Tenant wants to move in 10 days. You get the lease ready, call them to confirm, and they tell you, "Oh, I actually found something else!" What do you do? Unfortunately, situations like t...
Why You Should Screen a PM Company Like You Screen for Tenants
Tuesday, July 07
How to spot a reliable PM Hiring a PM company to manage your properties is a good way to shift your attention towards growing your rental portfolio and maximizing your investments, rather than focusing on the day-to-day responsibilities of self-managing. Good property management is, alongside t...