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 feel free to reach out to me at any time!
Here are some tips and tricks I have learned over the years:
- Be handy yourself. When there is an issue, you need to be the first one to assess the issue. Sometimes you can fix it yourself and save money. Youtube is a great way you can learn how to do any repair!
- Find a few reliable contractors. I have found them on Thumbtack. It is important to build relationships with contractors because when Sh*t hits the fan, you need somebody you can trust that can go to your place to fix things quickly. You should find contractors for the following:
- Basic Remodeling
- Collecting payments and managing your leasing agreements through Cozy. It is free and makes you look professional!
- Don’t hire a property management group. It is a waste of money as they charge 50-100% of your first month’s rent and then they charge about 10% of the monthly cost. Honestly, they will not care about your place like you would yourself. Especially when it comes to damages, fixes, and maintenance.
Real Estate is not easy. Please do your research before you spend your hard-earned money.
Get yourself a book on amazon to learn more:
I am a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.com.