Browse Category by Business planning

Treat your tenants like customers.

img_7077

We’ve all heard the horror stories of tenants ruining properties by putting holes in walls, staining the carpets, refusing to leave a property at the end of their lease etc. This concern is what I would assume is the leading cause of people not being interested in owning rental properties.  Sometimes there’s nothing you can do to prevent this kind of behavior, but you can put the odds in your favor by treating your tenants like customers. Having rentals is a business, and with any good business comes great customer service.

Continue Reading...

Business planning, Buying houses, Investments, Planning

New Airbnb in Louisville, CO

This last week I made a trip back to Colorado to visit our good friends (and our family Photographer) Ashleigh and Ian. I made the trip because they decided they wanted to rent out their spare bedroom on Airbnb. This was extra special because they purchased their house from us!  It was a lot of fun to be back in Louisville (although it was all of 36 hours) and get them squared away.

Have you ever considered renting your house out on Airbnb? Or, rent out a spare bedroom? Tell us about it!

Airbnb, Business planning, Debt Free Living, Planning, Small living, Smart money

Don’t listen to the naysayers.

Too often in life we are swayed to do things, or not to do things, based on what other people say. Of course there is a time and a place to look to people we know, love, and trust for advice… but sometimes, even these people can’t know what’s right for you.

D9AE3D6D9A

An example from our personal lives took place when we purchased our second home, that was smaller than our first home, we decided to keep our first house as a rental. We had numerous people who we looked up to tell us that we should just sell our first house, then use the equity to buy one bigger house. We were determined to keep the first property to rent it out and did just that. We continued to get this advice (as well as other reasons to not purchase) on each and every property we bought, but we stayed on course with our long term plan. It would have been easy to sell and get a nicer home. However, we always had a detailed, thought out, business plan. This plan helped us see past immediate wants and needs and allowed us to stay focused on our end goal.

Continue Reading...

Be decisive, Business planning, Move forward, Smart money