Rental property repairs typically show up when you least expect them, wreaking havoc and hurting your bank account. So, if you’re considering buying a property (or if you own one you want to rent), don’t forget to include estimated repairs in your budget. Repair costs may not be as predictable as a …
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Want to Fix Tenant Toilets at 3 a.m. and Lose All Your Money? Make These 6 Landlord Newbie Mistakes
You wake up to the sound of your phone buzzing. You’re getting your first landlord maintenance call… in the middle of the night.Out of the fog, you try to understand the problem. What?! All the toilets are overflowing, and the water is coming up through the tubs and sinks? This can’t be …
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5 Real Estate Investment Secrets that Home Makeover Shows Fail to Tell You
It’s always fun to watch a house transform from disaster to dream home, especially when it’s done in a 30-minute TV block. While you’re at home (sitting near one of your own unfinished projects), you see people take a home no one would live in and, with a little dust and elbow grease, produce a …
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When Is It Time to Sell Your Investment Property?
Sometimes investments just don’t work out. Sure, a great property is often the key to unlocking real investment potential, but other times it’s just better to pull the plug. So how do you know if you should sell? If you find yourself in one of these scenarios, it’s probably time to call a listing …
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Investors Beware! The Risks of Using Unlicensed Contractors
If it sounds too good to be true, it probably is. You've likely heard that phrase before, but it's worth repeating when it comes to hiring contractors. Unlicensed contractors usually bid lower, appealing to those trying to save a little – but the bargain may not be all it seems. When a …
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Landlords: How to Handle Damage to Your Rental Properties
Property damage. They’re two very simple words that make a landlord cringe. It can happen at any time, day or night, when a property is occupied or vacant. Two of the most common and potentially devastating causes of property damage are leaks and flooding. Here are steps we take to recover from …
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How Much Time Does it Take to Manage 3 Rental Properties?
Some television programs (we’re looking at you, HGTV) can make investing in real estate seem almost too easy. While it’s entertaining to watch, the truth is real estate investment is backbreaking work. What you see on TV is only half of the story. Every property manager wants to find the right …
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Why All Tenants Need Renters Insurance
Renters insurance shouldn’t be an option for your residents. It should be a requirement. Homeowners insurance only covers your property structure. Renters insurance is what covers possessions inside of the house and tenant accommodations if they’re displaced due to property damage. For example, …
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How to Prepare Your Dallas Rental Property for Hot Weather
I’ve lived in Dallas since 2007 and there's one thing every North Texas resident knows for certain: it’s HOT. In 2011, the Dallas area experienced 71 days of over 100 degree heat. How’s that for a heat wave? The extreme heat in Dallas is brutal for many reasons. For investment property owners, …
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The Art of Keeping Your Best Tenants Happy
Good tenants are the lifeblood of your property. And when you have good tenants, it’s important to keep them satisfied so they stick around. A simple mistake can turn a resident from happy to disgruntled fairly quickly. Understanding what can potentially dissatisfy your tenants will help you …
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