By scottficek on October 29, 2008
Each real estate investor uses their own unique set of ration to analyze investment property purchases. Some of those ratios include: Cash on Cash Return, Debt Coverage, Cap Rate, Gross Multiplier, and Return on Asset to name a few. Your financial goals, risk tolerance, and the type of property you are interested in with ultimately [...]
Posted in Develop Your Skill
By scottficek on July 15, 2008
If you are a landlord, you probably view your lease as just a piece of paper. I want to challenge you and ask: When is the last time you read your standard lease from start to finish? For most, it has probably been a long time. I bet that some of you have never read [...]
Posted in Develop Your Skill
By scottficek on May 21, 2008
Are you addicted to those shows in which people are buying run-down houses, fixing them up and reselling them for huge profits before the first mortgage payment is due? Wow! What’s more, these people claim they did it in their spare time and made more on that one house rehab than you made all last [...]
Posted in Develop Your Skill
By scottficek on May 21, 2008
You can often tell from the curb which landlords maintain their investment properties and which do not. As both an investor and a real estate agent, I am actually concerned more about the “deferred maintenance” of all the little items than the major ones. The dozens of minor repairs can be more concerning than the [...]
Posted in Develop Your Skill
By scottficek on April 14, 2008
Being a landlord requires management skills, sales skills, and negotiation skills as you are constantly working with people (your tenants). One sensitive subject for both the landlord and tenant can be “How much is the rent going to be?” Once the tenant is living there, raising the rent is important but can be a delicate [...]
Posted in Develop Your Skill
By scottficek on April 7, 2008
I can remember what it was like looking at the investment properties for sale on the internet. It was quite intimidating and a little overwhelming. It felt like being a freshman on the first day of high school! With any new venture, hobby, or career those initial nervous days will pass. First, you just need [...]
Posted in Develop Your Skill
By scottficek on April 1, 2008
Landlords: When you are on vacation, who do your tenants call when the furnace stops working? Do you take your phone with you, hoping you will have cell phone coverage? Who would get the call if you had a fire? With some simply planning, you can easily get out of town and relax knowing your [...]
Posted in Develop Your Skill
By scottficek on April 1, 2008
You have decided not to renew a particular tenant’s lease for any number of reasons (late rent, noise complaints). Immediately after notifying them that they must be out by the 31st, they stop returning your calls and are very cold when you do see them. You never hear from them again, but you stop by [...]
Posted in Develop Your Skill
