You’re passionate about your real estate investing , whether that’s flipping or landlording. And maybe you’ve started to make a little money selling these house or cash flowing from rents. So when should you take your real estate investing to the next level and build a real business?
Natural disasters can be nightmares for both landlords and tenants, causing expensive damage and leaving many rental properties without basic services like electricity, hot water and heat. In the aftermath of large-scale disasters, many landlords and tenants both wonder “Can the landlord legally require rent payments if the rental property is without amenities like electricity, hot water and heat?”
Every real estate investor should be an avid reader. Everyone, no matter how successful, can always become better at what they do and there is a ton of knowledge out there on both real estate and business that every investor should be trying to absorb.
One of the things about running a business is that regardless if it is a real estate business or not, you are going to have to fire people. It’s probably the worst part of being the “boss” but it’s necessary if you want to have any success at all.
If you’ve ever seen a pro forma that is worse than the actual 12 month operating history, please let me know, because I’m pretty sure such a thing does not exist. My dad had a saying I thought was pretty poetic. It goes like this,