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Real Estate Investing - So You Want to be a Landlord!
Is landlording the way to go if you are starting into real estate investing today? Receiving cash flow from rental residuals is an exciting idea. If the rental housing is congregated in large apartments within a focused area, the costs of management and maintenance are more economical. Rentals are even more appropriate when all of the portfolio is in the "path of developmental progress" with "upward mobility" population of a prime metropolitan city. This results in clustered landlording of an area free of crime, prostitution and drug traffic. However, whether purchasing large quantities of these apartment complex units as fix-up properties or pristine properties, acquisition usually demands deep-pockets and is not within the cash range availability of the beginning real estate investor. Therefore, I suggest such acquisition of these larger apartment properties after some experience in real estate investing has resulted in a big wad of cash in the hip pocket. For the beginning real estate investor, the choice is usually between becoming a near-slumlord or fixing up cheap properties for resale. I recommend residential fixup for quick return on investment and less hassle from landlording for the beginner. I bought $10 million dollars in rental properties during my first four years in the business, and it made me a multi-millionaire. I followed the instruction of the books and seminars precisely. It made me rich. But it was a costly mistake. In fact, in my opinion, becoming a landlord in the beginning of my real estate investing career was what I consider my "$10 Million Mistake." Perhaps an explanation of what I term a serious "mistake" can guide your decision in starting a real estate investing career. Problem 1. I can clean out toilets pretty well. I've cleaned out quite a few. It's not the most fun activity I've ever had. I never thought of it as a party. But I can clean toilets in the maintenance of rental property as well as anyone. Cleaning toilets is simply symbolic of all the upkeep jobs necessary for being a landlord. But let me assure you, there are many, many other detestable jobs required in landlording, too. I can clean out one toilet. But cleaning out toilets in $10 million dollars worth of properties is a little beyond me. So, that's why I had to quickly start an in-house maintenance company. Problem 2. I can rent one apartment to an applicant. But renting $10 million dollars worth of properties is beyond me. So that's why I had to start an in-house management company. Here's the point. Any person who becomes a landlord can handle a few properties. But a few rental properties seldom make you rich. I "became rich" as a landlord by acquiring a lot of properties which required a lot of renting and a lot of maintenance work. Eventually, my landlording life became helter-skelter. I never want to be a landlord again in this same capacity. It is a deterrent to real estate investing success. Real estate investing has many better opportunities other than landlording. The easiest and most quickly initiated opportunity is the fixup of cheap housing. With efficiency, the beginning real estate investor can acquire a cheap house with little or no money down, repair it with "sweat equity," and dispose of it through a sale within 30 days for $5000 to $10,000 profit minimally. Several of these cheap houses can quickly replace a job income and can lead to full-time real estate investing. Phil Speer, Ph.D., started his real estate investing career 25 years ago. Without the availability of credit and using only a $10 bill, he purchased $1 million in properties in his first year, and had accumulated $10 million in properties by his fourth year. http://www.CashinHouses.com/ He was featured in a Wall St.Journal editorial as most successful investor in the Nothing Down Real Estate Movement, and was honored with a Caribbean cruise as top investor of the year. In his hometown of Nashville, Tennessee, he has been a businessman and Human Resources Consultant for 30 years. He is an author, speaker and seminar director. To learn how to profit in real estate investing, even without cash or credit, read his report at http://www.BigMoneyinRealEstate.com/nomoneydown/flipping.html/ Subscription is free to his Fix-up Ezine. He and other contributing authors provide free articles and resources on real estate investing at his online "Academy of Advanced Real Estate Investing Techniques" at http://www.AAREIT.com/
MORE RESOURCES: Blackstone's Wesley LePatner, a mentor to women and real estate investing leader, killed in NYC office shooting Business Insider The real estate market: 5 key themes to watch this week Real Estate News by RealEstateNews.com AI Is Transforming Real Estate Marketing | Florida Realtors 18 months later, Blackstone still sees real estate comeback ahead Private Equity Real Estate | PERE Real estate: Condo prices rise in Indian River County; fall in Martin, St. Lucie counties Treasure Coast News Troy Furbay has been appointed Managing Director, Hospitality at Crescent Real Estate LLC Hospitality Net ‘Walking beside him’: Daughter continues stepfather’s real estate dream Mountain Home Observer Richland County property transfers recorded July 21-24 Mansfield News Journal Double digit price increases for Putnam real estate Mid Hudson News Alex MacWilliam of Alex MacWilliam Real Estate in Vero GlobeNewswire Haag-Brown Commercial Real Estate to open Bentonville office Talk Business & Politics RE/MAX revenue continues to slip despite agent gains Real Estate News by RealEstateNews.com Executive Killed in Manhattan Shooting Was CEO of Blackstone's $53 Billion Real Estate Megafund Realtor.com Real estate transfers: 7/30 Toledo Blade Inside Zillow’s summer launch: 5 new tools built for agents - Real Estate News by RealEstateNews.com Inside Zillow’s summer launch: 5 new tools built for agents Real Estate News by RealEstateNews.com Anywhere revenue inches up despite ‘weird’ housing market Real Estate News by RealEstateNews.com Unlock MLS calls new listing option ‘a win for seller choice’ Real Estate News by RealEstateNews.com US industrial real estate investor Terreno sells $82m portfolio IPE Real Assets Real Estate Transactions | July 14-18, 2025 Republic-Times Real estate office renovating former daycare The News-Enterprise Exclusive: Apple to buy another Silicon Valley campus for $365 million San Francisco Chronicle News | UK commercial real estate investment slips slightly to £10 billion in second quarter - CoStar Ledge Road property in Newport sold for $3.3 million tops latest Newport County sales Newport Daily News What’s Rising Across the Upstate? Updates on 7 Real Estate Developments Upstate Business Journal Santa Monica Ranks Second Most Expensive for Rentals as Real Estate Market Shows Mixed Signals Santa Monica Daily Press Christie’s Debuts Crypto Real Estate Division The New York Times Chris Heller’s real estate team joins eXp Realty HousingWire Atlanta real estate tycoon Tom Cousins has died at 93 Rough Draft Atlanta Hamptons Real Estate Market Data – Week of 7/22/2025 Hamptons.com Easton home on Sierra Drive that sold for over $1M 'epitomizes one-of-a-kind luxury' Enterprise News Population Growth in England and Wales: A Boon for Real Estate and Social Infrastructure Sectors AInvest Prospect Medical attorneys ask judge if company can abandon some of its Delaware County real estate CBS News Blackstone’s LePatner killed in NYC shooting Private Equity Real Estate | PERE With The Enolia, MCB Real Estate reinvents the residence hall for Morgan State University Baltimore Fishbowl Boardwalk Real Estate: Q2 Earnings Snapshot San Antonio Express-News RealPage buys Rexera, maker of 'AI agents' for real estate deals The Business Journals One of the world’s largest luxury real estate firms wants to help you buy a house — with crypto New York Post Apollo Commercial Real Estate Finance, Inc. Reports Second Quarter 2025 Financial Results Quiver Quantitative Gold Key Real Estate lewistownsentinel.com Commercial Real Estate Still Has a Software Problem Commercial Observer Brixmor Property Group's Q2 2025 Earnings: A Strategic Playbook for Resilient Retail Real Estate AInvest Fed Interest Rate Predictions: No Cut Expected Tomorrow, July 30, 2025 Norada Real Estate Investments Judge sides with LGBTQ+ Alliance in battle with ex-CEO Real Estate News by RealEstateNews.com The Future of AI in Real Estate Valuations: Understanding Tomorrow’s Appraisal Standards Appraisal Buzz WeWork Wants You to Know It’s a Grown-Up Real-Estate Firm Now The Wall Street Journal NexPoint REIT Offers Shareholders Choice in $0.15 Distribution: Cash or Stock Payment Options Stock Titan Partners Real Estate names a new top executive in Austin The Business Journals Virgin Hotels Chicago Flagship Sold in Strategic Deal Amid Timeshare Real Estate Shift – What You Need to Know Travel And Tour World Real estate: Home prices climb in Martin, Indian River counties; fall in St. Lucie County Treasure Coast News Cohen & Steers: Real Estate Woes Continue To Weigh Seeking Alpha |
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