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Moving Announcement to Tenants

Moving Announcement to Tenants

Our tenants mail their rent checks to our apartment address, so we needed to inform them of our upcoming move. Below is the letter we recently sent: Month X, YYYY Hello Name, We’re moving to a new apartment on January 20th, so please send February 2012 rent payment and beyond to this address instead: Name Name 123 Address Apt X City, ST 12345 Thank you! [Name]Read More
Book Review - How to Invest in Rental Properties Without Mortgaging Your Soul

Book Review - How to Invest in Rental Properties Without Mortgaging Your Soul

Every now and then I'll review a different real estate investment book and share its unique perspective. How to Invest in Rental Properties Without Mortgaging Your Soul was written in 2004 by a woman who owned 34 rental units. She started with a duplex, and expanded to single-family and small apartment complexes.Read More
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Investment Property Bookkeeping, Part 1

Happy Thanksgiving weekend... this holiday we're thankful for our first rent checks! This post details how we're organizing the income we collect from our investment property to properly anticipate future expenses. I should start by stating for the record one of my personal rental property goals: everything we spend on the duplex after the initial purchase should come from income generated by the duplex. Put anotherRead More
Our Investment Property Balance Sheet

Our Investment Property Balance Sheet

We've officially closed on our duplex! At Closing for Our First Investment Property The primary purpose of this post is to share the (expected) financial breakdown of this property's cash flow. Every property will have different financial pros and cons, and I'm sure the details vary wildly based on geographicRead More
Introduction Letter to Existing Tenants

Introduction Letter to Existing Tenants

In anticipation of our upcoming duplex ownership, I prepared an introduction letter to the existing tenants that we'll put in the mail the day we close. This letter serves several purposes: First Impressions and Goodwill:  We began by informing tenants of the completed purchase, thanking them for their cooperation with inspectors and appraisers, and including some backgroundRead More
Final Countdown to Investment Property Ownership!

Final Countdown to Investment Property Ownership!

Pending any unforeseen circumstances, we'll be closing on our first investment property on October 20th. The process thus far has consisted of 40% investment property books, 30% Excel formulas, 20% leap of faith, and 10% luck. Hopefully this is the first of several (many?) ventures, but alas real estate empire building is necessarily a slowRead More