We just sold all of our rental properties so now we are looking for a second home or vacation home to enjoy the fruits of our labor! We saw an ad in the Real Estate section of the Washington Post with 1 bedroom luxury condominiums starting in the $400k range, so we decided to take […]
Posts with the real estate investing tag
It’s the little upgrades that count! #realestatetips
We have owned most of our rental properties for more than 25 years. Now that the real estate market is super hot, we are selling! However, millennials like upgrades. According to our “millennial” real estate agent, they don’t want to buy fixer-uppers and handyman specials. Therefore, we need to make upgrades before we list the […]
How to Keep a #Tenant for 23 Years! #realestatetips #realestateinvestor
We have been fortunate to have the same family reside in our rental townhouse for 23 years! When they applied to rent the townhouse from us 23 years ago, they were having some credit problems so we requested that they provide 12 post-dated check every year. It worked out very well. They didn’t ask for […]
A Cautionary Tale on Section 8 (Part 2) … #realestateinvesting #landlord #landlords
A cautionary tale continues from Part 1 … We decided to approve their application because the federal government pays the majority of their rent, and their disability checks are consistent and dependable income. Before the tenant moves in, an inspection must be conducted by the housing commission. The inspection was conducted a week later and […]
A Cautionary Tale on Section 8 (Part 1) … #realestate #realestateinvestor #propertymanagement
We own a 3 bedroom 3 bath townhouse in a suburban area with good schools. We have had the same tenant for 23 years. The reason the tenant stayed so long is because we rarely increased the rent, and when we did, it was just an extra $25 or $50 per month. We appreciated that […]
Stone Tile Floors Beautiful but Hard to Clean! #realestatetips #propertybrothers
Stone tile floors are very popular with homeowners and tenants, however they can be very difficult to keep clean. We have owned a 1 bedroom ground floor condominium for 30 years. The previous owner upgraded the kitchen floor from vinyl to a gorgeous red stone tile. Our most recent tenant was a couple with 2 […]
When #Negotiating the #Sale of Your #Property … #realestatetips
When you receive an offer for a piece of real estate, that is just the start of negotiations. The offer price may or may not be close to your asking price, but price is just one of many items to negotiate. If the offer price is less than your asking price, you may decide to […]
When Your #RealEstateAgent Overprices Your #HomeForSale … #realestateinvesting #realestatetips
When listing your home for sale, one of the biggest mistakes your Real Estate Agent can make it to overprice your home! We have a relative who listed their home for sale 30 days ago. The average days on market for that zip code is 41 days. The comparable homes in the area sell for […]
The Downside of Being a #Landlord … #landlords #propertybrothers #realestatetips
There are numerous financial benefits to investing in real estate and becoming a landlord, however there is a downside to managing your own rental properties. The key to being a successful landlord is to: Pick good tenants Have the personality and interpersonal skills to manage tenants All is well when tenants are paying their rent […]
Ending a Tense Landlord-Tenant Relationship! #propertymanagement #propertybrothers
Approximately 3 years ago, we rented a 2 bedroom 1 bathroom condominium to a young man. He was married but leaving his relationship with his wife. We felt fortunate to find a good tenant because the rental property is in a low to lower-middle income neighborhood. His credit wasn’t so great but he had stable […]