If you have more than one single rental property, I would recommend starting to treat your rentals as a business. Get a separate checking account, register an LLC, and learn double-entry bookkeeping. I use Quickbooks Online for my accounting and Quickbooks actually makes it easy to do double-entry bookkeeping without you even realizing it (except for…
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Real estate investing is all about cash flow. Cash flow. Cash flow. You’ve heard it so many times that it almost becomes annoying. Even people that have never even considered buying a rental property will ask you if your properties cash flow (yes, it’s a noun and a verb). Now, while I go against the…
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Question from a reader: My name is Jordan, sorry this wasn’t a PM, it seemed as if the link was broken. I am interested in buying, and consequently renting out house. It seems as if no one really takes me seriously in this, as I am a college student, and young. Could you give me…
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(This is the actual text I used to sell our house on Craigslist in January of 2014, for an explanation on this ad and more tips for listing your house on Craigslist, please see my post “Selling Your House on Craigslist, A Buyer’s Perspective“) Howdy! My wife and I are looking to sell our house…
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This question just came in as a comment to the post “College Student House Buying Guide“. Remember, the basic principles of this process involves borrowing (or earning) a down payment, finding a seller willing to sell their house on a land contract, negotiate terms, buy the house, and then either rent it out to friends,…
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The book “Hippos Go Berserk” by Sandra Boynton is NOT a simple story about a single hippo who throws a party because he’s lonely, and it is NOT just a “silly counting book”. On the contrary, Hippos Go Berserk is a story of intrigue, animosity, romance, some debauchery, and even a love triangle! I kid you not. Get…
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If you have decided to sell your house on Craigslist … good on you! Craigslist in my mind is how the savvy home seller sells their house. If you’re really good, you can totally forgo the real estate agent and save yourself 6% of the sale price. Now, let’s say you’re going to sell your…
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What a deal! Real estate pays you in 6 different ways! Yep, that’s a lot of streams of income. So even if your property is “cash flow neutral”, which I would definitely try to avoid, you’re still making money in at least some of the other 5. And here they are in no particular order….
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Treadmills …. sure. Lawn mowers …. maybe. But a house? Definitely! Craigslist is an awesome tool for buying anything from juicers to concert tickets and even houses! When I am on the search for houses to buy as rentals, Craigslist is my first and often only destination. Sure, you can search the local real estate…
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Social Credit Score Your creditworthiness amongst those that you have a relationship with. The willingness of your friends, family, and acquaintances to lend you money. An alternate way to think about your credit score that does not reduce you to a three digit number. Today’s banking industry would have us believe that you are defined…
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