Becoming a successful real estate landlord
While some real estate investors are interested in making money through buying and selling properties, others prefer the stability of holding properties and creating steady income streams. To landlord effectively and profitably, it is crucial to learn how to avoid the costly errors and pitfalls made by inexperienced investors who attempt managing rental properties.
If you are still looking to acquire rental properties, you will find many quality properties can be obtained using “no money down” strategies that limit your risk as an investor, which makes these opportunities even more attractive.
As a prospective landlord, you can implement a number of strategies to make money. You can earn your income from:
- holding property and renting to tenants who are not interested in pursuing home ownership in the short or long term;
- renting to tenants and selling them an option to buy your property after a certain period of time, called a lease option
- investing in commercial real estate and renting apartments or space in your properties to commercial tenants such as retailers or companies needing office or warehouse space.
Expert advice to increase your income and avoid common mistakes
The problem that keeps most landlords from earning the sort of profits they should from their properties is that they just do not have the skills to evaluate potential tenants and to manage their property efficiently. These are not skills you want to learn “on-the-job.” You need to start educating yourself before you ever invest in that first rental property.
CRE Online offers the definitive course on being a successful landlord from “Mr. Landlord” himself, Jeffrey Taylor: The Landlord’s Survival Guide.
Jeffrey’s time-tested and proven methods will instruct you how to identify long-term tenants (which he always refers to as “residents”) who are solid credit risks. He will teach you how to manage your maintenance costs effectively while keeping your residents happy. And he will explain how to increase your rents, and your profits, while maintaining the loyalty of your residents year after year.
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