Category: Cash Flow Real Estate Investing

Just a quick one on Friday afternoon as a reminder . . .

Did an interview yesterday with a guy that’s writing a book about property management. He wanted to get the perspective and some best practices from small owner-operators like me. He was surprised to find that when I SAY cash I MEAN cash. Not checks, not money orders. For a very good reason.

I found the documentation from the first apartment building that I ever went after. It was a bread-and-butter 5 unit in Flat Rock that I was attempting to buy via a short sale. I was shocked to see the mistake that the buyer made when she bought. But it’s a mistake that I see a lot of new investors make.

Critical Success Factor #1 for being a profitable and happy rental property owner is property selection. The benefits to doing this right, from the start, are endless. And one aspect of property selection is buying cookie cutter houses.

He chucked his corporate job yesterday to follow his passion. Congrats Danny and I look forward to following your success.

Just about every investor that I know that’s in rental properties has one. They are a royal PAIN and it would have been really nice (and more PROFITABLE) to have made a different decision. You can avoid doing it. Very easily actually. And if you knew what I know now, you’d realize that you can’t afford not to.