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After a while in the rental property business, you'll come across a tenant who is upset about something and decides to take it out on you and your property. Maybe they lost their job, have a personal issue, or don't want to pay a rent rise when their lease expires. Hopefully, this will never happen to you. But, if a renter destroys your property, follow these five actions (known as the IDETD System) to preserve your property and your landlord rights: 1. Recognize: Determine the general issue and the extent of the damage to ensure that the tenant is harming your property. 2. Documents: We all know that a picture is worth a thousand words, especially when it comes to documenting tenant-caused damage to your property. 3. Estimate: The expense of fixing damage caused by the renter can quickly pile up, especially if the task requires the services of a licensed contractor rather than a handyman. 4. Talk: At this phase, you've determined the source of the damage, documented the work that needs to be done using images and videos, and gotten reasonable repair estimates. 5. Deduct: You collected a security deposit when the tenant moved in. One of the reasons for the deposit is to ensure that you have enough funds to cover damage caused by the tenant that goes beyond typical wear and tear.

Hello, We are working on a deal for a 15-unit and due to a variety of factors that are timing and rehab related we are going to take hard money for the actual acquisition. We will refinance it out within a year or so. My question for the group is has anyone worked with a hard money lender that lends in Alaska that they like? We would like to establish a relationship with one as this situation may arise again but have never used one before.    thanks

Are you unsure about owning your first rental investment property? Many of the world's wealthiest people have derived their fortunes from real estate, therefore there are numerous reasons why this is a good investment. It has shown to be one of the most successful methods of achieving financial independence. However, as with any investment, it is best to be thoroughly informed before investing hundreds of thousands of dollars. Are you looking for Orlando Rental Property Management? The tactics listed below will help you become a property owner each year and build long-term wealth. The Advantages of Purchasing Rental Property Some of the benefits you will receive if you implement a solid plan Simple to implement It is one of the simplest tactics and systems to implement. Furthermore, it is an excellent choice for landlords who want to offset their monthly expenses. Long-term prosperity Another advantage of purchasing a rental property once a year is that an investor has a long-term vision. Instead of being concerned about the ups and downs of the real estate market, the landlord will be content with the 15 rental homes he has owned for over 15 years. As a result, if house prices fall, it will be easier to take the chance. Increased cash flow in a shorter period of time Purchasing a new Rental Property Management Orlando would generate significant cash flow if done effectively. At the end of your investing cycle, it would yield considerable gains over time. Furthermore, you can put this money to use in a variety of ways, including education funding for your child and retirement security.