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Welcome! Do You Know Both the Advantages and the Pitfalls of Being a Landlord?
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If you think being a landlord is the same as being a homeowner, think again. Between maintaining the property, chasing after deadbeat tenants, and fretting over vacancies, being a landlord is one tough business. Fortunately, our experts this month can help you with their hard-earned advice - whether it's for getting rid of bad tenants or for finding good tradespeople who can make the necessary repairs to your rental properties - you'll soon be on your way to profits and a stress-free experience.
Finding and keeping good tenants is more than a matter of getting lucky - it requires some real skill. In his article, "Get Rid of Bad Tenants; Find and Keep the Good Ones," Brendan O'Brien explains how to set expectations at the outset, ask the right questions of a prospective tenant's former landlords, and turn "bad" tenants into good tenants.
Hiring good plumbers, electricians, roofers, and other tradespeople to help you keep your rental properties shipshape can be a crapshoot if you don't know what you're doing. In his article, "Working with Plumbers, Electricians, and HVAC Types," veteran contractor Michael Farmer explains how to find good tradespeople, inspect their work, and ensure you're getting what you paid for.
For many people, getting into the real estate investing game is a high-risk move - one that can prevent many from taking that first big step. In this month's Nothing Succeeds Like Success story, investor Heidy Gisler talks about how she overcame her fear of risk by purchasing and renting out a two-family and how she's now ready for the big time - apartment buildings!
In this month's Mortgage Minute, Debbie Siegel explains how banks determine how much money to loan you when you're purchasing a rental property. It pays to know exactly how the bank makes this determination - because it makes a huge difference in your eligibility for a mortgage.
* Next 37 17 investors only!
Best regards,
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Jeremy B. Shapiro
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Sheila Farragher-Gemma
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Co-Founders, ForeclosuresMass.com
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