REI In Your Car 200: Three Quick Tips for Managing Rentals
My mind is definitely on rentals these days. Specifically, because I have two properties that have come up vacant. One is a lease option where the tenant/buyer chose not to purchase the property. He\u2019d lived there for 7 years and was the perfect tenant. (Hate to see him go.) The second property is not a lease option, but a straight rental.
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It seems I\u2019ve made the same error on both\u2014attempting to be too aggressive on the price of the rent. They\u2019ve both been standing empty for a little too long for my comfort.
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In this episode, I\u2019m sharing a little hindsight and giving good tips about managing rentals. It\u2019s important to have a good property in a good neighborhood and price it to match other rentals in that area.
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While landlording can be frustrating at times, I still believe that buy-&-hold is a necessary part of building long-term wealth in real estate investing.
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