Take those profits and pay off the rentals.

In addition, you would need enough working capital to pay for insurance (which will be going up a LOT in Los Angeles) and to pay for property taxes.Don't buy this unless you have substantial resources and a cash cushion to keep yourself safe.

You might be surprised, but your rental properties have more in common with dividend-paying stocks than you think!

None of these things will bring success tomorrow, but with doing them consistently every day, I will wake up in 5,10,20,30,40,60 years and be miles ahead of everyone else.2) Never stop learningThere is only growth or decay, there is no middle ground.

. - Minimum work history: 1 year (please provide references and pay stubs for the past 3 months; if self-employed we can discuss alternatives to paystubs)

.- It's not profitable for them to search for under-market priced houses, figure out repairs needed or what other problem is pushing the price down and do even more for a newbie investor that has analysis-paralysis and may never buy anything.Some questions you'll want to share the answers to with any agent you choose:1) Are you paying cash or getting a mortgage?

Conversation in local Bar, say I would pay all CASH How did you finance this deal?

If you have a lot of liquidity and a great paying W2 and can support your rentals, focus on appreciation/equity.

If you dont pay by next Thursday, I'm going to tell my atty to file it and take your property."

Going to guess the $797 is rent only, with tenant paying utilities.