With the warm months behind us and the weather cooling, it’s only a matter of time before winter snow and ice are here. The last thing you want is tenants calling you on a freezing January night, saying their pipes have burst, flooding the entire basement and ruining their stuff (which they want you […]
We manage lots of properties for landlords who don’t live in the local area (Metro Detroit), or even in the country. For out-of-state rental investors like these, having a dependable property manager to be their eyes and ears is probably the most critical part of their strategy. Because of this, out-of-town landlords need to […]
One of the most valuable things a PMC does for a DIY landlord is make their rentals a business, not personal. So, if you met a potential partner who was going to help you run your business, would your first priority be making sure that they took as little payment as possible for their efforts? […]
Nothing is worse for a tenant than anticipating your security deposit return, only to find out that the entire amount has gone towards repairing property damages, and there’s nothing left. But handing over a security deposit is not a lost cause. There are actually ways you can maximize the amount you get back from your […]
These past coronavirus-filled months have been extraordinarily difficult for most landlords. Though way back in March, President Trump expressed positivity that we’d get over this pandemic “quickly,” in reality, nobody knows how long this will last. Many landlords weren’t prepared for the pandemic shut down and didn’t have reserves or financial planning in place […]
Many property investors start out with single-family rentals because they’re easier to acquire and more familiar. As your unit count grows though, you may want to consider buying multi-family properties. A multi-family property may consist of units in a building with a common entrance or units with separate entrances. Several of either building type may […]
The end goal for most rental investors is to generate enough rental income to be able to quit their job. What strategy should you use to grow your rental portfolio to this point? Let’s explore two different strategies: quickly paying off your mortgage versus consistently refinancing to remove equity for additional purchases. Each has its […]
Most rental investors enter the industry thinking not just about owning a single rental property, but about how they can eventually scale up their rental business and acquire 2, 3, 4, or dozens of properties one day and retire from their day jobs. If you’ve put all your available capital into property #1 and are […]
Have you ever been in a situation where you find a rental property that you really love, only to find out that three other people are putting in an offer for the same place? When it comes to applying for rental properties, most renters think that their application will get noticed by landlords, as long […]
How Will It Impact Metro Detroit? Gone are the days when owning a home was synonymous with fulfilling the great American dream. Is “Tenants for life” really the trend now.? Homeownership in America is now in decline amongst the younger generations. Although Census data for the 2020 Housing Vacancy Survey shows that about 65% […]