Property Management Blog

Wednesday, May 8, 2019

4 Things to Know Before You Hire a Property Management Company
There is this great blog by Landlord Source called “What to Expect from Your Property Management Company.” You can read it here. Hiring a property manager is a little different than managing your own properties.Make sure you know the responsibilities of the manager. This way, there is no surprise at a later time. Also, know th...
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Thursday, May 2, 2019

Should I pay off my mortgage? Part 5 (Diversification)
I wrote 4 blogs so far about why you should NOT pay off your mortgage. This blog will talk about yet another reason why you don’t want to pay off your mortgage. It’s about diversifying the risk.If you only have one rental property because you paid off and didn’t have any cash to buy more properties, what will be your vac...
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Sunday, April 28, 2019

Why you never know everything ("Just Housing")
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Regardless of how good you are with learning, you will NEVER know everything you need to know about managing properties the right way. The reason is simple. Things change. The acceptable thing to do yesterday could become all the sudden illegal today. Let’s take a look at one example. In the past, it was easier, if not easy, to...
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Wednesday, April 24, 2019

Should you hire a property manager?
I wrote a blog in the past about 20 questions to ask before hiring a property manager. But before you do that, you have to ask yourself if you really want to hire a property manager. Hiring a property manager is not for everyone. For some people, it’s better off managing by themselves. So how do you know if you should hire a propert...
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Wednesday, April 17, 2019

What property managers do
You may wonder why property managers charge fees when all they do is just collect the rent, which may take no effort if tenants pay online. While that is not what all we do, even if that’s the case, we should charge something. The reason for it is because we need to be on standby at all time. There is a cost to be on standby. Beside...
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Wednesday, April 10, 2019

Should I pay off my mortgage? Part 4 (Lower payment)
*Below is to show an example in a particular situation. In real life, you may have to consider your unique case and consult with an appropriate professional.In the past three blogs, I wrote about why it may be better not to pay off your mortgage. First of I talked about getting a better cash-flow by NOT paying off your mortgage but buy mo...
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Wednesday, April 3, 2019

Should I pay off my mortgage? Part 3 (Depreciation)
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*Below is to show an example in a particular situation. In real life, you may have to consider your unique case and consult with an appropriate professional.In the past two blogs, I wrote about why it may be better not to pay off your mortgage. First of I talked about getting a better cash-flow by NOT paying off your mortgage but buy more...
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Wednesday, March 27, 2019

Should I pay off my mortgage? Part 2 (Extra Equity)
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*Below is to show an example in a particular situation. In real life, you may have to consider your unique case and consult with an appropriate professional. At the last blog, everything being equal, I wrote about why buying multiple houses generates more cash flow than paying off one house. In this blog, I will talk about the hidden bene...
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Thursday, March 21, 2019

Should I pay off my mortgage? Part 1 (Cash Flow Is King)
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*Below is just to show an example in a particular situation. In real life, you may have to consider your unique situation and consult with an appropriate professional. Let’s say you just got $200,000 mortgage for your primary residence and right after that inherited $200,000, should you pay off your mortgage? The answer may sur...
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Wednesday, February 6, 2019

What's Wrong With "Great" Tenants?
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All owners are looking for great tenants. Those who have great credit scores, keep the house clean, have been working for a long time at secure high-income jobs, no criminal history, and no evictions. There are two problems with these types of people. Can you figure out what they are?First one is obvious. Finding those people is hard. Tha...
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