“The fight is won or lost far away from the witnesses, behind the lines, in the gym, and out there on the road; long before I dance under those lights.”
We just finished rehab on a new rental property in a great location in Philadelphia, close a major transportation hub and a University. However, majority of the work in entrepreneurship is not glamorous. These are stories that don't come with cool shiny photos, these are stories that will definitely not make it to Instagram. This post is highlighting one of those stories and the lessons learned from that. I wanted to share this because it will help a new investor navigate through adversities in their journey. The day we closed on the property, right before we could even change the locks, there was an unfortunate theft at this property. One of the items stolen was the boiler among many other things. My contractor called me genuinely upset about this. A theft can...
Have you considered investing money into a passive rental for additional income but not sure where to start? This blog post is a peek into how I choose properties to invest in. The number one thing to remember is that picking a passive rental different than choosing a home for yourself to live in. When it comes to investing in a passive rental, it is all about numbers and not about falling in love with the property. Though the analysis is complex, I have broken my strategy down into four key components for simplicity.
Location is key in any real estate investment. For single family passive rentals, this is specifically important in finding tenants quickly and also for retaining tenants which in turn is helpful in reducing the vacancy rates. I look at these specific elements:
a. Access to public transport and expressways
Note that if public transport isn't available and expressway proximity is what you're considering, ease of parking becomes a factor as well.