Real Estate Strategies to Consider in a Financial Freedom Plan

Everyone wants to be independent, and while there are some ways to get there, the best way s real estate.  It is one of the most lucrative ventures, but the thing is financial freedom is different from everyone.  For some, it might mean a good job that earns more money than they need, allowing them to buy better items as a result. For other people, it is being able to live without debt bothering them, giving them a peace of mind.  Some want a number to be that, a nest egg that they desire so that they can live the rest of their lives without money running out.  But, there are those who believe passive income they cant’ outlive is the answer, and they let their money work for them without putting in the hours.

You’ll need to take on the financial freedom that is based off what you can buy in terms of houses in a given year, and how many you should buy annually. If your goal is the dream lifestyle, you’ll need to work out what this would cost, if you’re looking to replace an income, the freedom number is a pre-taxed income, and then you can calculate how many properties that you’ll need to achieve this, and it’s dependant on the investment strategy that you’ll use.


To make a good strategy, is a good thing and you should know that there are many different strategies to get financial independence, and you can do this in the short-term, as in the case of flipping houses, but there are others that work better, and we’ll talk about what those are.

First is cash flow through properties, which is rentals basically.  You need to look at the freedom number based on the relation of the rental property. For example, if you want to do 60K in a year, you need to have 5K a month, and if it does earn you 500 a month after expenses, that means you need 109 properties to do this.

Then there is buying the property outright, but there’s no mortgage or interest.  You purchase properties, appreciate in value, and determine what you sell off and what you keep, and from there, you can rent out, renovate, and update.

You can also live off sales profits, which is purchasing a home, and while your focus is how much they don’t bring at the moment, it doesn’t matter. The idea is to let them grow in value so that when you retire, you sell them off and live that.  you’ll need to plan how much property you need to purchase though.

Then there is living off equity, which is similar to the last one, but instead of selling to get the funds, you borrow an equity loan against the current one that you have, so you rent them out, and the more you amass, the more rent that trickles in, growing the equity, and from there, if you borrow against, you can live off this.

Finally, there is owner financing, where you charge the buyers and interest over the course of a period.  It has shower payment period s than your normal mortgage, but with higher interests, so instead of selling off properties, you get to enjoy the accrued interest that’s there.

The best thing to do is to figure out what works for you, whether it be one singular one, or a combination of both of these strategies. Whatever it might be, you should make sure that you’ve got the freedom number as the guiding light for this, since this will show you how many properties you can live off each year.

 

Ways to Prevent Fraud and Employee Theft in Real Estate.

One of the biggest things that you’ll want to worry about is preventing from others stealing from you.  You may not even realize it until it’s too late, and then when you look at the transactions, you find out they’re stealing from your business, embezzling a lot of money.  This is more common than you’d think, and with smaller business, you’re more at risk, with 55% of embezzlement happening with 100 or fewer employees, and up to $1.3 million being taken, which is a lot of money.


Accounting is normally overlooked by many, but it’s super important, and if you maintain the proper internal controls for everything, you’ll be able to grow and prevent against fraud.  You should initially look out for any pressure on financial issues on your employees, and make sure that you prevent it. Make sure there are no rationalization, or reason why, and no opportunities, or chances for embezzlement.  These three factors are a big part, and here, we’ll talk about ways to prevent this from happening in your business.

First, separate the duties, especially by making sure you don’t have the same person working on accounts both receivable and payable, and making sure that you don’t have the same person preparing and auditing the books.  This might be unavoidable at first, but later on separate them as much as you can, since this prevents embezzlement.  For small businesses that can’t do this, sharing it can mitigate the risk.

Then there is access control, controlling who uses this. Make sure that you have everything password protected, and keep time-sensitive financial paperwork under lock and key. You don’t need to give this to just anyone.

You should also physically audit the accounts, and that’s counting inventory and cash to make sure that everything is there. Never have loose cash hanging around, and point it right away, but you may need to keep items in inventory, and if you do, always perform audits.  The occurrence of things being stolen to sell off isn’t uncommon, so definitely consider this.

The more you standardize your documents, the better, and you should make sure that you have everything standardized, whether it be paint colors, invoices, expenses, and timecard.  While this might not be related to fraud, having contractors submitting their bid in a work form is good because it will make sure everything is there, and it prevents unbidded items from happening, messing up the price and trying to compare on each project.  You should make sure that you have all documents looking the same, so that it prevents fraud from happening, and allows for you to review the records if things go overlooked.

Trial balances are good too.  Double-entry booking is good and making sure that you calculate the daily or weekly rial balances can give you insight on the system, and your business, preventing any discrepancies from happening as early as possible.

You should engage in period reconciliations, which means that you’re reconciling the accounts regularly to make sure that balances match the deposits and withdrawals on the bank statements and making sure all irregularities are covered, since finding these is often how fraud is discovered.

Finally, make sure you have approval authority on huge purchases, and you should have that on rehabs and turnovers over a certain amount, and you should look at all of the checks that go out before signing them, and you should always have approval authority before beginning with anything.

By taking these rightful measures, you can safeguard against larger transactions, and stop the worst types of fraud.  And while your business might not be able to put all of these safeguards in immediately, you should think about this immediately whenever you hire employees, and you should make sure that you think about anyone who can steal from you, and make sure to keep this as low as you can.

How to create Asset Protection

Real estate asset protection is what the rich real estate investors do. They don’t take the same risks, but instead, they use the law to ensure maximum advantage. It’s not sleazy, but instead, it’s using the rules that are available to ensure that you get the most advantageous situations. Here, you’ll learn how to create the best leverage in a lawsuit, and how to protect yourself.


Many people don’t realize that there is a tool that is not used, which is a contract that will favor you if a deal goes sour and litigation may happen. We don’t want that to happen because it is expensive, but instead, we form a contract that gives insane amounts of leverage to settle a lawsuit quickly. The way for you to protect yourself in the event of any lawsuit, whether you’re the one suing or you’re being sued, is an LLC. These are what will protect you, and we’ll tell you how.

First, you should make sure any remedies are in the document. This prevents you from having to use complicated legal remedies. If you’re buying the real estate, and it goes bad, do you want the property or the money. If you want to get the property, you should make sure there is a “specific performance” clause there. Otherwise, you’re left with the suit for damages and money, and you have to prove the damages.

Unless you were getting a lot on the property through the way you show this is liquidated damages, which is a clause that states that the number of damages in the case of the breach of the contract, especially if the other side backs out. For example, you could say in this that if the seller refuses to execute this sale after the buyer gets financing, then the seller is liable for the liquidated damages up to $40,000. This should be one-sided so that the buyer is the only one with rights, and you can get more leverage over the seller since they have more to lose. Many may balk at this, but you can counter with this by asking them if they have any intention in backing out of this deal after you’ve put all this money into it. This clause will ensure that they won’t, and it gives you much more confidence if they know that you’re serious. It also opens the door to negotiation about what amount of damages are agreed upon between the two of you. If litigation does happen, it will really help the attorney.

Remember that every time you feel a deal is about to go bad, be prepared for lawsuit. Even if you don’t believe anyone will sue you, an LLC is used for protection. You may not be sued either, but you may have to sue someone, and you put yourself at risk. In the US, the prevailing party will get attorney fees, and you’d be surprised that the damages could be only a dollar, but since the other side did prevail, they could get up to 30K in attorney fees, so it can bite you.

The LLC is essentially the plaintiff instead of you. Since the LLC is the plaintiff, they get the attorney fees and damages, and they only look at the LLC. The cost for a new LLC is much cheaper than paying off a judgment, and remember that if a judgment is filed against you, it does appear on the credit report, thereby harming the score, so in essence you’re in the borrowing business to leverage the dollars with the bank, and if done in a personal sense it does hurt us.

You shouldn’t ever really do anything without having an LLC. The LLC is a way to help protect your assets in business dealings. You should only sue if it’s a last resort, and you can only sue if you’ve interacted with someone, so if you want to insulate yourself from lawsuits, you have to act like a business, and by creating an LLC that has little to no assets, it creates a shell. Since the LLC is made of the communications and the contracts, that’s the only entity people will go after. So if a lawsuit does happen, the worst case scenario is a destroyed LLC, which is not as bad as you may think.

LLCs can save you, and it’s the best means to employ asset protection.

How to Make Houses Energy Efficient for millennials

How to Make Houses Energy Efficient for millennials in the past, people weren’t’ very environmentally-conscious about going green. It wasn’t popular, but it was a way to cut costs in the area.  While it may have been the reality back then, it’s definitely changing, and with millennial and gen Z renters increasing the tenant pool, the pressure to follow environmentally-friendly practices is increasing by a lot.  Millennials are expected to account for about 30% of the population, and gen z is supposed to be 40% of customers.  One of the things these generations value are environmental issues, and there are renters that are willing to pay more for energy-saving appliances, or even bike storage. Property managers should notice this, so how do you make your property more “green? Well, here are a few tips, since energy-efficient building and construction are actually being encouraged as of late to help cut costs for owners in the long run, and rental owners should consider incorporating new initiatives to help fill up the vacancies quickly and potentially to help justify the chances for higher rents.

The first thing to do is to change lighting, and you can do that by switching the LED bulbs since this is the fastest and easiest way to save energy and money. They generate a lot less than traditional bulbs, and typical light bulbs have dropped in sales by 85% and the prices have dropped too for green lightbulbs.  They save a home about 1000 dollars over a 10-year period, so about 8 bucks a month.

You should also consider appliances that use far less energy. Tenants that want energy-efficient appliances will consider this to be an important feature.  Not only do these energy-efficient appliances reduce pollution and save resources, they also save renters a lot of money, since they can actually reduce the electricity bills by about 30%.

You should also pick the location of your rental property.  The location does play a huge part in the ability to live in a sustainable manner. But, when it comes to going green it actually means an entirely different thing.  Being in close proximity to schools, work, shopping, restaurants, parks, and even public transit is actually a very appealing factor for many renters, since it does ultimately give them a reason to move there, since they won’t have to take as much time, or waste as much energy, getting to work.


You should also make recycling really easy.  it’s one of the easiest and least expensive ways to really influence a property and renters.  If you make recycling easier for the tenants, many times the renters will stay longer. You can make it easier by offering marked recycling containers and guidelines on how to recycle everything.  If you do own and manage a single-family property, you can even give them some pamphlets and other literature that involves curbside recycling.  You can also put it directly into the lease agreement, and the easier it is, the better it can be for everyone, and it will help with the environment as well as keep tenants around.

Finally, weatherproof and insulate your home. This is a prime way to save energy and money. You should focus on the basement, attic, and the garage since this is the easiest way for heat to enter and escape the home.  Weather stripping is actually a very cost-effective and simple way to save energy and money. Depending on the weather in a place, good insulation can save about 10-15% on the heating and cooling in the area.

With the demand to go green increasing, especially with Gen Z coming in to look for rentals, you as a property manager should look for ways to give green initiatives to those people, since it will give fewer vacancies and it will prevent rent from dipping out to lower numbers. An energy audit is also a great place to begin since t can tell you how to improve your energy efficiency easily.

Asking The Property Manager

Property managers play a key role in the successful running of a real estate business. Real estate investors try to find efficient property managers for them to handle the property and its matters. The beginners who have a few properties tend to manage them by themselves but with the increasing number of properties, it is difficult to manage them by a single person. There is an option of hiring a management company but there are many options then how we find a good one. It is recommended for beginners to manage by themselves in the beginning so that they the know the potential issues that may arise in handling a real estate business. Let’s take a look what we should ask the property management companies when thinking of hiring one.

Charges of the company
The first thing to inquire about is the charges of the company. It is common to charge seven to twelve percent of the property, but one can negotiate to a lower percentage according to the situation.

Numbers of properties the company is managing
It is also important to ask them about the number of properties they are managing at a time. Out of all the properties, how many of them are long term and short term. Both are different business types and the focus should be on the long-term rentals.

Work experience and staff responsibilities
One should also ask them about their work experience and for how long have they been in the industry. This will give an idea if they will stay in business for some time or not.  It is also imperative to ask about the staff, the number of people that work for the company. The jobs of the staff should also be inquired.

Property checking schedule
The investors should also ask about the schedule of the property manager to visit the property. Does the property manager visit the rental property regularly or only on the tenant’s call?In the later case, some tenants may not notify the needs and just leave. That’s bad!

Damage deposits
It is recommended that the investor should get the management company to work with the bank account at the investor’s financial institution instead of using their account.

Tenant selection
The management company should tell their criteria of selecting the tenant. They should specify their methodology of running a background check on the tenants. The management should also specify the type of tenants they would prefer to select.

Handling tenants call
The management company should also be asked about their first-hand response towards the tenants calls for repair. The company should also be asked about the amount that they will specify for repair and why.

Philosophy on repair and replacement
The investor should also inspect about the company’s philosophy on repair and replacement. It should be known if the company prefers a long-lasting solution or the least expensive one. The investor needs to find a company that has the similar philosophy as the investor has.

Conclusion
While searching for a property management the investor should consider all possible situations that might occur when the company is handling the rental property. The investor should inspect about how the company charges for evictions. We all hope that such a situation never occurs, but one should be ready for all types of circumstances. The company should also make it clear if they will prefer to advertise the property while it is occupied, or they would want to wait for the property to be vacant to do so. All of this will help in finding the fittest management company.

 

7 STEPS TO FOLLOW WHEN BUYING YOUR HOME

Purchasing a house requires a great deal of time and exertion, however, these 10 stages can help make the home purchasing process reasonable and enable you to settle on the most ideal choices.

 

Step 1: Start Your Research Early

When you can, begin perusing Web locales, daily papers, and magazines that have land postings. Make a note of specific homes you are keen on and perceive to what extent they remain available. Additionally, take note of any adjustments in asking costs. This will give you a feeling of the lodging patterns in particular zones.

Stage 2: Determine How Much You Can Afford

Moneylenders by and large prescribe that individuals search for homes that cost close to three to five times their yearly family unit wage if the home purchasers intend to make a 20% upfront installment and have a moderate measure of other obligation.

Step 3: Get Prequalified and Preapproved for kudos for Your Mortgage

Before you begin searching for a home, you should know the amount you can really spend. The most ideal approach to do that is to get prequalified for a home loan. To get prequalified, you simply need to give some monetary data to your home loan investor, for example, your salary and the measure of funds and ventures you have. Your loan specialist will audit this data and reveal to you the amount we can loan you. This will reveal to you the value scope of the homes you ought to take a gander at. Afterward, you can get pre-approved for credit, which includes giving your money related archives (W-2 explanations, paycheck stubs, ledger proclamations, and so forth.) so your moneylender can check your budgetary status and credit.

Stage 4: Find the Right Real Estate Agent

Land operators are imperative accomplices when you’re purchasing or offering a home. Land operators can furnish you with supportive data on homes and neighborhoods that isn’t effectively open to people in general. Their insight into the home purchasing process, arranging abilities, and recognition with the zone you need to live in can be to a great degree important. Also, the best part is that it doesn’t cost you anything to utilize an operator – they’re remunerated from the commission paid by the vender of the house.

Stage 5: Shop for Your Home and Make an Offer

Begin visiting homes in your value go. It may be useful to take notes (utilizing this supportive agenda) on every one of the homes you visit. You will see a ton of houses! It very well may be difficult to recall every little thing about them, so you should need to take pictures or video to enable you to recollect each home.

Step 6: Get a Home Inspection

Commonly, buy offers are dependent upon a home investigation of the property to check for indications of basic harm or things that may require settling. Your land operator as a rule will enable you to mastermind to have this examination led inside a couple of days of your offer being acknowledged by the vender. This possibility secures you by allowing you to renegotiate your offer or pull back it without punishment if the investigation uncovers noteworthy material harm.

Both you and the dealer will get a write about the house assessor’s discoveries. You would then be able to choose on the off chance that you need to request that the merchant settle anything on the property before bringing the deal to a close. Before the deal closes, you will have a stroll through of the house, which allows you to affirm that any settled upon repairs have been made.


Step 7: Work with a Mortgage Banker to Select Your Loan

Banks have an extensive variety of intensely evaluated advance projects and a notoriety for remarkable client benefit. You will have numerous inquiries when you are obtaining a home, and having one of our accomplished, responsive home loan investors help you can make the procedure significantly less demanding.

Vital Real Estate Investing Skills

Real estate investment is one the best methods to start a business and gather wealth with less amount money at start. There not many businesses out there that have so much money-making potential. However, it is also not a quick rich business. People think all investors are being suited urbanites who sit in high offices. To reach that office a lot of effort is required. Special set of skills are required to achieve levels of success. Mostly new investors are not prepared enough for such huge responsibilities.It can be very challenging to get attention in the real estate sector if one is not recommended at first.  The real estate industry is as savage as profitable it is. But there is a simple solution to such a problem. Developing a great reputation can help a lot in the real estate business. The utmost skill required to be successful in real estate business is mastering the art of buying and selling properties for raising fund. One should clearly know how to select and evaluate a property, hiring the marketing manager, managing the tenants and contractor and finally selecting a quality market to invest.

Becoming an Attractive Buyer
For becoming an attractive buyer one has to sell himself as the right buyer to the seller of the property. The seller should assume that you are the best option he has. The seller has number of options to choose from. Building a reputation with the property owner in a face to face meeting is imperative to become the chosen buyer by the seller. Seller now a days are smart and are learning how important it is to choose the right buyer. Many sellers also care about their old homes and neighbourhoods more than the renegotiations on the closing table. This occurs especially in multifamily property owners as they would want the new owner ton treat the tenants fairly and maintain the property.

Becoming The Best Seller and Partner

The buyers need confidence in being able to trust the property sellers. This can be done by an honest property selling campaign. Face to face meeting with the buyer also develop a level of trust between the buyer and seller. Moreover, putting content related to the property on a website and flyers can also help in convincing the buyer about the transparency of the property being sold. The sellers have to convince all the potential buyers that the property they are selling is worth the price he has asked for. The buyers have their reservations over the hidden issues in the property. This occurs particularly in the case of multifamily apartments. In multifamily real estate property there can be so many hidden issues such as maintenance, annoying tenants and neighbourhood issues. Multifamily apartments are difficult to manage so the buyers do not want to go for some unwanted trouble.

Vendors and Mentors
Being able to present yourself in the real estate market makes a lot of difference in the business. The vendors and mentors who are going to be the partners in the business for a long time get impressed by the seller and tend to help in the future products as well. Such people create more paths into the real estate business for the investors. They know the market and the right people who can be trusted for the future deals. They can also become the referrals who play an important role in the expansion of the business.


Conclusion
If someone has enough investment and a sharp mind he still needs a special skill set to become an efficient buyer and seller in the market. Without acquiring these skills, he might have to face difficult situations that he is not prepared for.

 

Trump administration set to dominate U.S. housing finance

Speculations
Trump organization set to command U.S. lodging money
There will be an initiative vacuum to fill
September 5, 2018 Jacob Gaffney

September 6, 2018, marks the 10-year commemoration of the Federal conservatorship of Fannie Mae and Freddie Mac. By the start of one year from now, the Trump organization is probably going to wind up the overwhelming power administering the whole country’s lodging account framework.

What’s more, here’s the secret.
For one, Congress underneath the Obama Administration needed political will to attempt to exert any change in our space. This isn’t an issue with the Trump organization.


At the point when Mel Watt, the executive of the Federal Housing Finance Agency, which administers Fannie Mae and Freddie Mac, completes his term (or is constrained out sooner) in January, President Trump can designate his substitution.

In addition, the pioneer of Fannie Mae, Tim Mayopoulos, will leave toward the year’s end. Also, now, Freddie Mac’s CEO Donald Layton has affirmed he’ll be venturing down one year from now.

This gives the present organization a significantly bigger extension to direct the terms of lodging change. Also, what might such change resemble? The political disruption in between the white house and trumps delegations forgoing further orders.

As we’ve canvassed in Housing Wire, Trump expects colossal lodging change sooner rather than later. Concerning the legislature supported undertakings, the organization is against proceeding with the outsized job they played in the nation’s home loan back framework and supports substantially more rivalry in the home loan advertise.

And keeping in mind that it might be contended that picking the substitution to Watt would be sufficient, it positively doesn’t hurt that Fannie and Freddie appear to get new administration.

Layton and Mayopoulos were both kind enough to consider me a few times each year amid their rules. We never talked about legislative issues and both asserted they work completely under the protection of the FHFA.

In any case, upon more critical look, as in my Housing Wire magazine profile (paywall) of Mayopoulos, there is a lot of progress every effect at their organizations.

On the off chance that there is at last a president willing to consider lodging change important, as I trust the present president seems to be, at that point having the ear of everybody in control will place Trump in the most grounded position ever to leave an enduring imprint on lodging account.

Home equity fails as an investment

Home equity fails as a speculation

Such a large number of homeowners can’t tap it

September 14, 2018 Jarred Kessler

Societal perspectives have molded us to take a look at purchasing a home as a project. Placing cash into a home loan is vastly improved than discarding it on lease, isn’t that so? Possibly less nowadays.


The secret to home equity being a practical project is that the financial professional can get to it when they require it. Since that cash has a place with the homeowner, it appears to be likely and reasonable that they ought to have the capacity to get to it freely, and there are a few advance items available today that do only that. You even get the chance to keep the house. The issue with these items is that not every person fits the bill for them, abandoning a few homeowners’ developed equity caught.

Free and simple home loan capability prerequisites prompted the home loan bubble bust, causing the subsidence in 2008. Subsequently, banks fixed their prerequisites, and that doesn’t simply apply to new home loans.

Terms on HELOCs, home buybacks and refits taken care of, as well. This brought about restricted access to equity for a decent segment of homeowners except if they were eager to offer. This overwhelming circumstance prompted the approach of items that enable homeowners to get to equity by offering their home, at that point enabling them to rent it back.

Indeed, even high equity homeowners may experience difficulty getting to their equity because of poor credit. They basically don’t meet all requirements for the conventional equity-tapping alternatives once budgetary hardship is acknowledged – a standout amongst the most well-known reasons individuals swing to what was envisioned as a solid scheme accessible to use freely.

The credit prerequisites for by far most of equity-tapping choices don’t consider the way that individuals have bounty in resources. Loan specialists frequently depend on FICO score as the end-all-be-all, and low scores are at last leaving numerous homeowners in a sway.

Costs are expanding and compensation are inactive, and developing further separated each day for a ton of the U.S. populace. As that hole develops, more individuals are thinking about tapping their home equity to meet their budgetary commitments, however it’s not as straightforward as they’d possibly envisioned.

Ideally, they know about the strict prerequisites of current alternatives and hope to pull their equity before money related inconveniences close the entryway on more regular equity-tapping credits.

Why You Don’t Want to Be a Landlord

Some people think being a landlord is a great way to save money, but when it comes to multiple properties, it’s not fun, and it’s much less profitable than those who are in real estate make it out to be. While there are benefits to owning and investing in property, but self-managing can be a nightmare. Here are a few reasons why you shouldn’t be a landlord, especially if you value your time and your sanity.


First, as stated initially, if you’re going to self-manage, you can go ahead and kiss your free time goodbye. You can forget taking a vacation, weekends off, booking dates, and getting sleep. that’s because, tenant and renter inquiries will essentially come at all hours, and it’s quite a mess to deal with, that’s for sure.

It is also a huge job, and it’s essentially a full-time job. Despite it being mostly customer-service based, it actually involves marketing, leasing and screening, bookkeeping, doing some of the repairs and handy work, and even property management and inspection. Do you want six full-time jobs? Well, if you love yourself and your sanity, you don’t properly manage on your own.

Then, let’s talk about the mental draining, shall we? Being busy is one thing, though, in the job that you’re in, you’re going to deal with tons of stress. It doesn’t matter how good or how perfect the properties are, or even how good of a landlord you are, you’re going to get tenants that are demanding, and those with drama. There are a million reasons why some people can’t pay their rent, and it can be awful to deal with, and a total mental drain for yourself.

You also can’t be objective. When you’re that close to investment selection, supervising the rehabs and improvements, and accepting tenants and managing the properties, you’ll start to realize that emotions are there, and they come into play, and when you allow emotions to influence financial decisions, this does lead to a lot of risk in many cases, and it is a very risky thing. It’s better to just stick to looking at the numbers rather than looking at the property. One thing to always work to avoid is falling in solve with any property because this is how judgment gets clouded.

Finally, it’s super risky. that’s because of the fact that you’re going to be dealing with not just the physical aspects of job sites, but also dealing with tenants and collecting rents and dealing with tenants who are angry, and who might have dogs that are angry too. It’s something that really isn’t financially liable for those, and being a DIY landlord is super risky. If you want to put your life and limb in danger because of this, you should definitely consider it, and you should definitely put yourself there. But, if you love yourself and you don’t want to be a DIY landlord, you should definitely consider some alternatives.

Now, there are some great ways to get the benefits of real estate investment without having to be the landlord for the property. You can invest in funds, those the turnkey rental property investments, private lending, outsourcing the management, or partnering up with others who do the work. In reality, this can cost you some money, but if you learn how to become better at watching for this, and by smartly choosing who you’re going to let do the dirty work, it can make a world of a difference, and help you immensely.

When it comes to real estate investments and the like, you should make sure not to personally manage your properties. If you value your time, money, and personal sanity, you don’t do this, because let’s face it, dealing with the general populace is a nightmare. If you want it to be truly passive, you get out of this, and if you don’t want to have to put money into a potentially dangerous job, then you should make sure that you take the time that is necessary to prevent this from happening, and in turn, you should make sure that you’re smart about how you handle your properties.