Well it turns out last month I had more repairs on a condo unit. The property management company took care of everything including sending me the bill. In August, it was a $500 hit to repair a fireplace and an issue in the kitchen and some other minor problem. Fortunately, I haven’t had any major…
Category: Real Estate
Broken A/C Unit In A Property Rental Unit
Literally just days after I wrote a post about the high cost of replacing an A/C unit I got an email from my property management company that my tenants opened a service request to fix the air conditioner unit. I was extremely worried I would have to shell out $6000 or more to replace the…
Air Conditioner Cost About To Skyrocket
I recently wrote about my Mother’s Day fiasco with our air conditioner unit so it got me thinking about what it would cost to replace the unit. Our current AC unit is approaching 10 years and that’s about the time it starts failing or need constant repair of some sort. In looking for the latest…
Risk Management: Taxes, Real Estate & Rental Properties
The Wall Street Journal has an excellent article on the tax risks of owning multiple residences or real estate in different states and it’s something that my wife and I have had to deal with over the past few years. Here’s a key quote from the article, “States are getting more aggressive to avoid missing…
Cancun, Timeshare Salesman, and the Diver
I wrote this story in my original blog but since I rebooted it, the archives got zapped so I’m writing it again because it was an experience that changed my life. Cancun In early 2000’s, as I recall, my wife and I took our kids down to Cancun, Mexico for a family vacation. We stayed…
Real Estate Rental Properties & Risk Mitigation
We own some rental properties and we are far from being experts in anything related to real estate rentals. We became accidental rental property owners but it’s worked out ok so far without any major issues. I really like the mostly passive income stream that comes from property rentals but it’s not completely passive. Last…
Father To Son Financial Lessons, Often Ignored
When I became a teenager and received my first driver’s license my father gave me a few pieces of advice about safety and driving, etc. Of course, as a teenager that “knew” everything I rolled my eyes. One additional piece of advice my father gave, which also caused me to roll my eyes, was to…
It’s Time To Pay The Landlord!
I love the start of the month because it indicates a day that I’ll have some income delivered to my bank account but sometimes I wish it could be like the old days depicted in the image below. I started investing in real estate to diversify away from just holding stocks, bonds and cash. I…
How To Do Due Diligence On Real Estate Investment Rentals
As I accumulated more and more money it became necessary to diversify my investments and one of those roads led to me real estate rental properties. My first rental property was actually a bit of an accident. I had been offered a job in a different state and they offered a relocation package that included…
The Best Resources For Real Estate Investment Rentals
Personal Finance is an adventure for everybody and over the years, I’ve accumulated a long list of useful websites, favorite YouTubers and other resources but today I want to focus on three that I think have been the most beneficial to me over the past couple of years. With mortgage interest rates approaching 8% we…