Start with basic real estate investing principles . Buy a good property at the right price & watch your cash-flow. Once you have a solid foundation, you can start to finesse. I call it property hacking. In the same way that a smart person increases their chances of leasing your property with the right tenant hack, a good property hack can be worth a lot of money.
For our 2013 Cabo San Lucas retreat with Modern Tribe (thats the software company I married in 2001), I gave a lightning talk to the team on the basic principles of real estate investing. Everyone on the team had to present on something they were passionate about while teaching us something new. Talks were amazingly varied from wine tasting to horse grooming, the art of clowning, how to run a marathon, lock picking and human memory hacking. While the business and software discussions were invaluable, and Mexico was gorgeous, these talks and the camaraderie that came out of them is what I’ll remember.
We are extremely excited to be purchasing our second property on Cathy Lane. We lived on the cul-de-sac 3 doors down for 4.5 years and loved watching our daughter grow up with the neighborhood kids. It is a sweet 2-bed, 2-bath duplex with a huge 2-car garage. The home has only ever had one owner and she is retiring and heading to warmer pastures.
The home has been rented. We had over 40 families come through this last weekend during our open houses. Thank you for all your interest.
It is not often that a tenant delights me before I even meet them. My wife Julie and I have 6 rental units and manage them ourselves. When a property is ready to be turned over, we schedule a few open houses and drop an ad on craig’s list. Two days ago, an applicant attached the most brilliant and simple document to their email: a Rental Resume. It reads exactly as you would expect, and in one glance they made a hard decision feel easy.