REAl E-state Today: Landlording: Sharpen Your Pencil!

REAl E-state Today: Landlording: Sharpen Your Pencil!: Are you wanting to put your home up for sale? Maybe you are thinking about becoming a Landlord and rent out the home instead. All the years ...

Landlording: Sharpen Your Pencil!

Are you wanting to put your home up for sale? Maybe you are thinking about becoming a Landlord and rent out the home instead. All the years We have been a property owners we have been a landlord. Most of the time I'm either talking with a renter or cleaning their shit up. Many times becoming a professional rent collector. This was when gas prices were at $4/gal. I think my hairline receded .25 inch that summer! There are business risks that you may want to be aware of: Tenants who are they? ARE THEY GOING TO BE ABLE TO PAY?! Eviction attorneys and costs associated CAN BE BLOATED. Insurance companies cost go up if it is not a owner occupied home. When are you going to inspect the home and are the tenants ok with it? They should be there are laws for that! Are you able to absorb the costs associated with vacancies? Mortgage insurance taxes and these days in Toledo we are charged for water associated costs even if we don't use water. Pitfalls: Not collecting enough rent. Repairs? who's going to handle them? Do you have a handy man on call? Are you going to personally collect the rent or have them send it to a PO Box? Not a permanent family that lives in the house. Recently we had a fellow landlord rent his house out for less than the mortgage balance was so he was unable to cover his costs. WTF!? Upsides: Tax benefits...and those are even dwindling

   This is my first post to my blog and I'm looking up the definition of "blog' on the internet.  There is a Webster's Dictionary in front of me that I can easily open up and possibly find the definition-Okay I'm keeping my Webster's as a paperweight because "blog" definition should be looked up on the internet ONLY.
   And that's the point<My Blog: REAL E-state Today will be the same as the definition of the "blog"-just look it up on Wikipedia and add the term "real estate" benignly throughout the rows and columns.  But it will also be something more and like the constantly changing real estate atmosphere it will never rest. It will give it's all and keep on going. The result is the gift of online representation for your real estate transaction. But wait...mustn't you need an actual person for face-time and closing the deal?
   My Brokers keep telling me that I'm not new to this business and to stop saying that I am.  I listen to them so to make sure my clients don't here the word "new" out of my mouth (unless I'm talking about there new carpet or new roof).  I quietly tell myself that I have 15 years of experience, my Ohio License to represent clients in there real estate transactions and to promise to continually learn.  Also, this REAL E-State Today blog is more like the Realtor starting this blog than anything. It's a representation of myself and the real estate industry.
    I make sure to focus on the present while measuring the future.  In Toledo, Ohio you can buy a home for well under the national average. In fact it's the lowest among cities in America at an average sale under 100 Thousand. This bows well for people that have the income to afford it and more so if you are able to start a business like others do- owning properties for a personal wealth vehicle.
thank you to those that understand and thank you always to the people that have helped and will continue to help along the way