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How To Make Money In Real Estate

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Hi There,

If you are remotely interested in real estate, this article is for you…

Many new real estate investors when they buy a rental property feel that they will make a lot of money.

When you buy a rental property, If you do things the right way, you will prosper in the long run.

Unfortunately, many new real estate investors do not get off to a good start when they buy their first rental property.

When your real estate investment is not profitable, it is important to be able to identify this.  If it is not turning a profit, you need to cut ties and sell your rental property.

There are a lot of variables to consider when buying your first rental property.

To learn more about how to make money in real estate, you can listen to my PODCAT called “Dollars and Cents”.  Click on the link below to listen to the PODCAST.

 

CLICK HERE TO LISTEN ———>  Dollars and Cents  <———CLICK HERE TO LISTEN

 

Happy Investing!

Neil Uttamsingh

 

ps: If you are serious about buying your first rental property, I recommend that you read, How To Buy Your First Rental Property Step One

February 18, 2015   No Comments

4 Reasons Why You Need A Property Manager

Hi There,

If you are new to real estate investing, one question that you will face is:

Do you manage your rental property yourself or do you hire a property manager.

Valid arguments can be made for both sides.

However, you should know that most real estate investors, are not very good landlords.  As such, if you are not good at being a landlord, you need to get the help of a professional property manager.

Here are 4 Reasons Why You Need A Property Manager.

1) Your Tenant Is Behind In Rent

If your tenant does not pay you on time once, there is a high probability that they will repeat this behaviour again and again.  If they are repeatedly not paying you on time, you are not doing your job effectively as a landlord, bottom line.  As a landlord, you must collect your rent on time.  If you are having trouble with this you need to hire a property manager who will step in and ensure that your tenant pays you on time.  Timely rent collection is an essential skill that you require.

2)  You Have Not Raised The Rent

Many landlords once they have a tenant move in, never raise their monthly rent.  Depending upon where you reside, in most places you can raise the monthly rent  on a periodic basis (often annually).  If you have tenants that have lived at your rental property for several years, and who have not had their rental amount raised, that is not good for business.

As a real estate investor, you are a business operator.  In business, your objective should always be to maximize revenue.  What better way can you maximize your revenue than by increasing your rent?  Increase your rents…bottom line.

If you are afraid to raise your tenant’s monthly rent, step out of the way and let a professional property manager take over as the landlord.  They will be able to give your tenant the proper notice and have them pay the increased amount in rent, guaranteed.

3) You Don’t Like Confrontation

If you are not good at dealing with conflict, you will struggle as a landlord.  Whenever a problem arises with your tenant, you will have to be communicating directly with them.  It may be a problem that is not your fault, however, you have to come up with the solution to it…that is the job of the landlord…

For example, your tenant may call you frustrated and let you know that their washing machine has not been working for 2 weeks.  Further, the washing machine has broken down with a full load of clothes in the wash and that the machine has water in it and is not draining.  Further, they might also tell you that they need the washing machine fixed today, because they are all out of clean clothes and they need to have access to the washing machine to wash all of the clothes for their new born baby.

This is a situation that you have to deal with immediately.  The longer you leave this situation unresolved, the further frustrated your tenant might become.  If you don’t like dealing with frustrating circumstances like this one, you need to have a property manager step in and handle situations like this.  They will be able to communicate with the tenant directly and co-ordinate any maintenance people that may be required to come and fix the washing machine in a timely manner.

4)  You Are Not Good At Keeping Records

Keeping records is actually a very important skill to have as a landlord.  Depending upon how many rental properties you end up buying and depending upon how involved you are with your tenants, you will likely have to keep very detailed records.

Detailed records are required when a tenant has not paid rent.  The tenant is now behind with the rent payment.  A few days from now, they may make a partial payment of rent.  A week later, they may make another partial payment of rent.  Simultaneously, you will have to file the paperwork with your local governing body that deals with Landlord and Tenant Issues.

There is a lot to keep track of when things go wrong with your tenant.  As the landlord, the onus is on you to keep flawless records.  If you are not good at doing this, give up the job as manager of your rental property to a professional property manager.

These are just 4 reasons why someone would need a property manager.  There are many other reasons why you should hire a property manager.  We will leave that discussion for another day!

Happy Investing!

Neil

ps: If you are new to real estate investing and are looking to buy your first rental property, you might also be in search of the money to do this.  Finding money to buy a rental property can sometimes be hard.

The quickest way to find some money so that you can purchase a rental property might be through finding a joint venture partner.

Presenting to a Joint Venture partner is a challenge to a lot of investors.  But when you discover there are only 3 powerful ingredients that influence people to say “YES” to your deals, it’s not so hard anymore.

My friend and fellow real estate investor, Joey Ragona just released a video on this, and it’s awesome: https://rl163.isrefer.com/go/JVPF-intro-direct/SBA45/email

He really simplifies and breaks it down, and explains why MOST investors are wasting their time chasing people who will NEVER give them money. You’ll learn:

  •  Why people say “NO” to your deals
  • The 3 HUGE mistakes investors make when they’re looking for JVs
  • Joey’s 3-Step Presentation Formula ingredients
  • How the 1-Page JV Presentation filters out people who will waste your time

Joey shows you in this video, so check it out before he pulls it down.https://rl163.isrefer.com/go/JVPF-intro-direct/SBA45/email

Enjoy the video.  And take some notes. Don’t worry, there’s no opt-in required.

 

February 8, 2015   No Comments

How Much Money Should Your Rental Property Make You?

Hi There,

If you are new to real estate investing you have probably wondered the following:

“How Much Money Should My Rental Property Make Me?”

Do you have any idea?

If you do… good.

If you do not, don’t worry.  I will help you figure this out…

I have a new PODCAST called:

How Much Money Should Your Rental Property Make You?  <——(click here to listen to PODCAST)

You need to listen to this PODCAST if you are new to real estate investing and if you are looking to purchase your first rental property.

Even experienced real estate investors can benefit from listing to this PODCAST.

Be sure to listen…and….

Happy Investing!

Neil Uttamsingh

ps: Please share this post with any family, friends or co-workers who you think will benefit from this information.

pps: If you are truly serious about buying your first rental property, read the most popular article on this blog called, How To Buy Your First Rental Property

February 2, 2015   No Comments

When Should You Sell Your Rental Property?

Hi There,

If you are new to real estate investing, I think that you should read this…
Buying your first rental property is a great way to create wealth.
Holding your rental property for the long term is the best way to generate this wealth.
However, as we all know… sometimes things don’t always go as planned.
Some real estate investors who buy a rental property need to sell the property down the road…
I am not an advocate of selling your property just because it is hard work to manage it.
Owning and managing real estate is hard work and you should not give up when the going gets tough…
However, there are a couple of reasons (or situations) in which it makes sense to sell your rental property.
To find out what these 2 scenarios are, you can listen to my PODCAST called:
Happy Investing!
Neil Uttamsingh
ps: please share this post with your friends, family or co-workers who are interested in buying their first rental property.
pps: If you are serious about buying your first rental property, you can read the most popular article on this blog called, How To Buy Your First Rental Property

January 30, 2015   No Comments

How Much Money Can A Property Manager Save You?

Hi There,

Recently, I have been speaking a lot about the benefit of using property managers to manage your rental property.  In this post, I will continue with the same.  In my new PODCAST I talk about how a Property Manager can specifically save you both:

TIME

and…

MONEY

Listen to this PODCAST if you are interested in saving time and money and you want to buy your first rental property.  The PODCAST is called:

How Much Money Can A Property Manager Save You?    < —–  (click on the link to listen)

Happy Investing!

-Neil Uttamsingh

ps: please share this post with any friends, family or co-workers who you think will benefit from this information.  Thank you!

pps: If you are serious about buying your first rental property, read the most popular article on the blog called: How To Buy Your First Rental Property

January 29, 2015   No Comments

What Is The Best Property Type To Buy?

Hi There,

Many new real estate investors get confused on what type of property they should buy.  When I first started as a real estate investor, it took me one full year to determine what type of property I was going to buy.

When I look back, I see that as wasted time.  If I was able to buy my first rental property faster, I would have made more cash flow and benefited from more LONG term appreciation.

If you are a new real estate investor and you are struggling with what property type you should buy, you need to listen to my new PODCAST.

In my PODCAST I talk about what the different property types are and which property type is the best one for the new real estate investor.

Listen by clicking the link below:

What Is The Best Property Type To Buy?

Happy Investing!

Neil Uttamsingh

ps: Please share this post with any family, friends or co-workers who you think will benefit from this information.

pps: If you are serious about buying your first rental property, read the most popular article on this blog called,  How To Buy Your First Rental Property

January 24, 2015   1 Comment

Is Property Management Necessary?

Hi There,

I recently recorded another PODCAST on Property Management.  I will admit, this new PODCAST is better than my previous one.

My previous PODCAST on Property Management can be listened to here:

Property Management PODCAST

My “NEW” and “BETTER” PODCAST on property management can be listened to here:

The Importance of Property Management

In the PODCAST, I address the question:

Is Property Management Necessary

If you are new to real estate investing and you are looking to buy your first rental property, I highly recommend that you listen to this PODCAST.

Happy Investing!

Neil Uttamsingh

ps: please share this post with any friends, co-workers, or family that you think would benefit from this information!

January 23, 2015   No Comments

Property Management Podcast

Hi There,

I recently wrote an article on the pros and cons of property management.

The article was called:

Property Management Versus Self Management of Rental Property

New real estate investors always struggle with whether they should hire a property manager or self manage their first rental property.

You can now listen to this entire article in a PODCAST.

To listen to the PODCAST, click on the link below:

Property Management Versus Self Management of Rental Property

If you are new to real estate investing, I highly recommend that you listen to the PODCAST.

Happy Investing!

Neil Uttamsingh

January 21, 2015   No Comments

How To Buy Your First Rental Property Audio Podcast Part 2

Hello Everyone,

A long time ago, I wrote an article series called:

How To Buy Your First Rental Property

It quickly became the most popular article series on my blog.

The entire article series is now available in a PODCAST.

By clicking the link below, you can listen to Part 2 of the podcast called:

How To Buy A Rental Property Audio PODCAST Step Two

If you are new to real estate investing and are interested in buying a rental property, I highly recommend that you listen to the PODCAST.

Happy Investing!

Best Regards,

Neil Uttamsingh.

 

 

January 21, 2015   No Comments

How To Buy Your First Rental Property Audio Podcast Part 1

Hi There,

One of the most popular posts on First Rental Property  was a post in which I outlined step by step How To Buy Your First Rental Property.

This post was called:

How To Buy Your First Rental Property

Now, this entire post can be heard in a PODCAST.

The name of this PODCAST is:

How To Buy Your First Rental Property Step One

If you are new to real estate investing, I highly recommend that you listen to this PODCAST.

Happy Investing!

Neil Uttamsingh

 

January 15, 2015   No Comments