Last week we had two interesting interactions with rental applicants. One was very upset that we required them to resend their bank statements after they blacked-out their bank account numbers. The other applicant wanted to know why we asked for proof of their rent payments via cancelled checks and copies of money orders. In both […]
Many real estate investors that bought their rental properties prior to 2007 are upside down in them. Even those that put down 25% or more have seen their equity evaporate with falling real estate prices. A lot of these investors are also upside in their cash flow with these properties and many we speak with […]
Every time a property we manage goes vacant, the first thing the property owner wants to know is, how fast can we find another tenant to put in it. This makes perfect sense as most property owners either have a mortgage on their property that needs to be paid or they’re living off the cashflow […]
Many of the calls we get on our rental properties are a dead-end for us and the interested party as we don’t manage something that fits their needs or budget. A decent number of these callers tell us how difficult a time they’re having finding a home and complain about the time they’re investing in […]
Very few people actually like to be perceived as a “bad guy” or “bad cop”. Most of us want everyone to like us and will avoid conflict when possible. Unfortunately, acting this way with tenants will cost a landlord more in the long run. That’s why it’s so important as a landlord to be firm […]
You’re paying your rent on time, enjoying the property you live in, when a foreclosure notice is tacked to the door. What do you do? Finding a foreclosure notice on the door of your Metro Detroit area rental property can be pretty unsettling. Lot’s of questions run through your mind: When do you have to […]
You can’t always be inspecting your Metro Detroit area rental properties, but you don’t have to – if you get neighbors to help you! We’ve always made it a practice of introducing ourselves to the neighbors of the Metro Detroit area homes we manage. We give them our card and ask them to contact us if the tenants are […]
The hot rental market in several metro Detroit areas is making it very difficult to find a nice rental home. How many homes have you called on recently that have already been taken? If you’re looking in areas like Royal Oak, Berkley, Birmingham, etc. than it probably happens often. We’ve experienced extremely high call volumes on rental […]
A real estate investor’s strategy should take into account goals, cashflows and the property. Over the years the debate between these two strategies has left a lot of real estate investors believing the two are mutually exclusive. Many investors though, should be studying how they can leverage the two for even greater returns. Let’s study […]
We are always running into people that want to get involved in rental real estate, but don’t know where to start. It’s really not that hard, but you do need a plan. Even better, find an experienced mentor that can assist you through the challenges and give you real advice. So, what do we tell novice […]