Invest and Protect

Posted in Blog  
  on Jun 02, 2016

You put a lot of time into finding the right investment for your rental business. There's research to be done, loans to be applied for, and a dozen things to check off your list to make sure you're ready to make that purchase. Why, then, would you not want to protect that investment to the best of your ability?

Landlordstation has gathered some new and helpful articles for you in one place to make sure that you are going to get the most for your investment, both during the purchasing process and after.

Investment

  • Know Your Options - You may think that you simply don't have the resources to add to your real estate investment portfolio right now, but you aren't limited strictly to taking out a loan or paying in cash. Choosing the best path to invest can set you up for success.
  • Become an Expert - One of the best ways to cut down on stress is to make sure that you do your research. Like all investments, there's a lot to learn about in real estate, and jumping in without learning what you need to will make your investment experience miserable.
  • From Beginning to End - If you are looking at your first investment property or simply haven't purchased a new one in some time, the process can seem a little overwhelming. You may find yourself struggling to make sure that you've crossed every t and dotted every i. Make sure you cover your bases from beginning to end and you'll find your investment much more solid in the end.
  • Estimating Your ARV - Part of your calculations and preparations for purchasing your new rental investment will be in making sure that the rent that you charge will allow you to make a profit rather than take a loss. If you've purchased a property that will need some upgrades you will want to make sure that your calculations are as accurate as possible.

 

Protecting That Investment

  • Find the Best Tenant Every Time - Protecting your investment begins with being picky about who you allow to live in it. Tenant screenings are your first line of defence against allowing a delinquent tenant into your home (followed quickly by a well written lease), but you will want to make sure that you have a full understanding on the best way to screen your tenant and how to remain within the legal parameters so that you don't find your investment in the middle of a lawsuit. Keeping that balance boils down to knowing how to approach it.
  • Know How to Use Social Media to Your Advantage - Social media is everywhere, and because of that, many landlords will use it as a way to help screen tenants as well as to keep tabs after they have accepted the tenant. If you're thinking about doing this, make sure you know the legal ramifications of decisions made off of the information that you come across.
  • Best DIY Maintenance Fixes -  While having a trusted maintenance contractor on your speed dial is a must, there are a variety of maintenance complaints that tenants make that a landlord can fix without making a call.
  • Get Rid of Delinquent Tenants - If a tenant doesn't pay his or her rent on time, you cannot pay your mortgage or your contractors that may need to do repairs. An eviction can be a complicated process, but understanding your options will help things run more smoothly.

 


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