I believe in a diversified portfolio. This is why my wife and I have invested in real estate rentals so we can create multiple streams of revenue for ourselves. If you have the passion and the hustle I highly recommend investing in real estate. If you have any questions for me, please let me know.
Here are some tips and tricks:
- Be handy yourself. When there is an issue, I am the first one to assess the issue. Sometimes I can fix it myself and save money. It is called sweat equity. Youtube is a great way you can learn how to do any repairs!
- Find a few reliable contractors. We found them on Craigslist. It is important to build a relationship with them because when Sh*t hits the fan, you need somebody you can trust that can go to your place to fix things quickly.
- Basic Remodeling
- Collecting payments and our leasing agreements we use Cozy. It is free and it is professional and helps us stay organized.
- Don’t hire a property manager group. It is a waste of money as they charge 50-100% of your first months rent and then they charge about 10% of the monthly cost. Honestly, they will not care about your place. Their business is built on scale and they will not put any consideration into your property because it is just not worth it for them.
Real Estate is not easy. Please do your research before you spend your hard earned money.
Here are some books I recommend: