A good property manager can help with tenant screening, enforce lease terms, and handle evictions more efficiently if it comes to that.Require a Larger Security Deposit: Within the bounds of local regulations, a larger deposit can provide a cushion in case of damage or unpaid rent.Consider Rent Guarantee Insurance: Some companies offer insurance products that can cover lost rent in case of tenant default.

Quick tips…✅ Everyday Homeowners - track all home improvements as you could qualify for energy efficiency home improvement credit - new exterior windows, new central A/C, new hot water heater, new insulation material.✅ Investors - Keep detailed records of ALL rental property expenses to reduce your taxable income - helping your CPA spot additional tax saving opportunities.Imperative to use a CPA who is well versed in Real Estate tax code.My CPA is just that - DM me to get his contact information....

We've found it has superior reporting features, integration features, and is overall more efficient to work within than other REI-specific software.The downside is QBO is not set up for REI so you'll need to do that or work with an expert to ensure it is set up for your business appropriately.

Perhaps I'm an old out of touch birdie, but if I made $292,000 a MONTH doing land contracts, I would focus all of my time and energy on that and adding to it.

None of this is worth an ounce of energy or thought.

We lease a platform for online access and efficiency with both a lender and investor portal.

After spending all day dodging junk mail, junk e-mail, junk texts, and junk phone calls I have very little energy left for junk BP posts!

Ensuring transparency and efficiency in managing owner resources is critical1.Clear Communication on Costs: Provide owners with detailed breakdowns of repair costs and explanations for necessary expenses.

Consider forming an LLC for liability protection or an S-Corp for tax efficiency if flipping frequently.This post does not create a CPA-Client relationship.

DLP Housing fund and DLP Building communities fund = They are suppose to be really tax efficient but I am considering using the solo 401k as an investment vehicle.