6 Not So Obvious Tips From Experienced Skip Your Bank! These 2 months ago   06:59

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BiggerPockets
If you're a newbie investor there is no need to reinvent the wheel.

Here are 6 tips to help minimize your mistakes and headaches when starting out as a newbie landlord!

- https://biggerpockets.com

Comments 764 Comments

Plant-Based MD
Thats the way I would pick girlfriend on a first date i would walk them to their car and if it was dirty filled with stuff they were never to be seen again.. a persons car says a lot about them
Gluten Free Ice Cream
Don’t use notebooks for keeping records, there’s apps and other technology for this.
brbrhej
Brilliant!
Art TV
Mindy - excellent video with expert advice - thank you.
john doe
Maybe they have they money up front because they have a good job and save money? So the landlord wants to see/search my car? Creepy... Tip for landlords quit assuming renters are trash and you are perfect.
hihaters2004
Or hire a property management company 🤐
Craig D'Andrea
Those damn pot growin hippies
8910Hemmings
And ask for a credit check.
Richard Williams
Learn simple handy-man skills.
DBSstudent927
I'm a landlord of 24 mobile home lots I own the land and a house. Sp 25 total. Its difficult dealings with peoples constant drama...
M PB
she seems super bitchy wouldn't want to be her tenant
teetrinity4153
You’re hot
robdicklong
This lady is beyond paranoid.
Ucla Trunks
Great video. I'm a somewhat new landlord. I've been keeping track of rent payments, but I didn't consider repairs. Thanks!
Kenneth Mcgee
I’m a landlord and you have to apply these steps i recently had a tenant move into my rental in April 2018 she had an excellent application and pass every background and credit and rental check. So her and her two boys moved in with no problem she had her rent and deposit ready so she moved in. So when the next month came she told us she would be a few days late with rent because her son was going to China to play ball and she had to do last min things so i was fine with that so she paid on the 7 and she paid late fees. So the following month she was late again then again, then she start led saying something was wrong with the house every time rent came around, so i was call warranty company and they would send someone to fix issue. So in June she moved her bf in without our sayso and she change her number and locks without my consent, but she later gave me her new number and spare key. So in July there was a leak so i sent plumber out and he couldn’t find leak then she went outta town so when she got back the carpet was wet and it was the end of July so she started using her health so i sent ac tech out and he found leak and fix issue. So now it’s the 1st of August rents due and she tells us she have rent on the 5 so long story short she never paid the rent so we sent a quit pay notice and she say she’ll have money by 11 so i sent GC out to remove carpet to put dwn tile in room and wen i meet him out there to unlock door she had moved without telling me but left a few items like washer/dryer laptop and a bunch of clothes so basically she was skipping out on rent and abandoning the property so i had locksmith come change locks. So she showed back up to get rest of her things and notice the locks were change so they called cops out and a locksmith, so i showed up told locksmith he can leave because he not changing these locks and a constable came out he tlk to both us privately, i knew it wasn’t nothing he could do because it was a civil matter and they word against mine but he told me i had to let them get they things and my lease didn’t mean anything so i let them get they stuff to keep dwn confusion and they left my house a mess but they’d why you have to protect your investments and do an screening you dnt want ppl like that I’m your home because this ppl can sit in your home for months and you can’t do nothing about it.
ukidding
i wont let my property to people on social welfare.2. I won't let to people under 30. 3. Japanese and Korean people have priority because they are cleaner. 4. I drug test the property at the start and end of the teancny.
SecretofMana Kid
Nothing but bad experiences with landlords, them taking the piss to fix things and taking me for a mug because I am a student. I cannot wait to place a deposit for a mortgage. Never want to rent ever again. Putting money into somebodies pocket for them to not fix heaters or showers, when that £450 a month should be going on my own house, my own mortgage.
Black Vitriol
Buy your own fucking property and don't rent from the so called Lords of the Land. The middle age serfs found out the hard way! Buy some property now while you still can.
William Pennycook
Awesome tips. Thanks!
XclusiV Nests Pm Services
Great tips. Thanks
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Skip Your Bank! These 6 Not So Obvious Tips From Experienced 2 months ago   17:49

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Let’s see if this sounds familiar….you have some money sitting in a savings account and it is probably making next to nothing. If you are not really sure what to do, you have several options. 🤔

You can go to a bank and stick it in a savings or money market account, chances are they are not going to pay you anything. If there were, you wouldn’t be watching this video.

With that in mind, I want to talk about 7 alternatives to placing you savings into a bank. 🏦

I am also going to share a client story with you about where a client was keeping his cash. (You won’t believe where he was keeping it or how much he was keeping there!)

So let's dive right into your options:

➡️ Online savings [1:10] - Any sort of online savings or bank account (just make sure they have FDIC). They have a lot less overhead than traditional brick and mortar - this could mean higher interest rates.

➡️ US Treasuries (TBills) [3:54] - It may seem a little old school - but you can do all of this online.

➡️ High Dividend Stocks [4:42] - This is a little higher risk and not somewhere you want short-term money. Just because a stock pays a dividend doesn’t mean it won’t drop in value.

➡️ Bonds [6:27] - You are most likely not going to buy individual bonds, but rather bond mutual funds. I would suggest ETFs, just remember higher yield = higher risk.

➡️ Blended Portfolio [9:30] - This would be a mix of stocks and bonds, and utilizing ETFs to get this blend. You can utilize a platform like Betterment or Wealthfront.

🤯 Before we get to the last two, I want to tell you about this client ...he had $140,000 in a safe in his basement. I can’t remember how long he had this cash sitting there, but I thought it was crazy. Sitting there, making nothing for him. This is an option that you DO NOT pick.🤯

➡️ Real Estate Investment Trusts (REITs) [12:14] - This is a way to invest in real estate without managing properties. You can buy these many different ways, the simplest is to buy a REIT ETF. Another is online real estate investing, my favorite platform for this is Fundrise.

➡️ Peer-To-Peer Lending [14:25] - This allows YOU to be the bank. You are lending money to other peers. The great thing is, you can see their reasons for borrowing. This allows you to set your risk level.

That is my top 7 alternatives to bank accounts. You can pick as many or as few of these options as you like. I just wanted to share that there is more than one way to invest and earn interest.

Which options sounds the most attractive to you?

Are you already using one or more of these options? Let us know how this is going for you.

★☆★Resources Mentioned in Video★☆★


📉 https://www.goodfinancialcents.com/resources/fundrise-youtube-invest-500.php
📉https://www.goodfinancialcents.com/resources/lendingclubinv-youtube-get-started-with-lc.php
📈 https://www.goodfinancialcents.com/resources/betterment-youtube-invest-500.php
📉 https://www.goodfinancialcents.com/resources/ally-youtube-invest-500.php
📉 https://www.goodfinancialcents.com/resources/etrade-youtube-invest-500.php

★☆★ Want More Good Financial Cents? ★☆★

💻 Check out my blog here: https://www.goodfinancialcents.com/

Listen to my podcast here:

🎙 https://itunes.apple.com/us/podcast/good-financial-cents-podcast-investing-building-wealth/id775107294?mt=2

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