You love your tenants. They always pay their rent on time, rarely complain, and they are super nice. Now for the bad news – that’s probably why you’re undercharging.
In the spirit of disclosure, I own no rental properties so I can’t speak from personal experiences, only those of my clients who rent out single family homes. The common theme – none of them have a system for raising rents based on inflation or comparable listings (comps). When I ask why, they usually share that they’d feel bad doing so because the tenants are so nice.
I’ve finally found my perfect match. I now have 3 credit cards that provide me with an average reward of around 3% cash back because of how I use them. And I no longer have any fear of missing out, or unused cards sitting in a drawer gathering dust. If you buy things, eat, and travel at least a couple of times per year, perhaps these three cards should be in your wallet as well. Continue reading
We start driving at 16, become adults and vote at 18, and can drink once we turn 21. When we’re older, the “milestone” ages become a bit less exciting and more about money. Most of us will tap into our retirement accounts at 59 ½, enroll in Medicare at 65, and start collecting our social security checks at age 67 or 70. But no one ever talks about age 63. Well, I’m going to. Continue reading
A longtime client (Carol) shared her concern that it felt like the market was due for a big drop. I smiled and told her that she already knew exactly what I was going to say. Her reply was “tell me again.” It’s the one investment topic an investor can discuss, understand, process, and still wish to revisit regularly. It’s the vitamin C of investing.
My partner noticed that some turbulence on a recent flight was stressing me out (it was). Even though I know the odds of this actually leading to a crash are pretty close to zero, it still makes me uncomfortable every time. So, he said “just think of it as waves in the ocean that you can’t see.” I supposed Eddie, who flies often for work, is a transformed flyer. He’s always relaxed on a plane, and only gets upset if the turbulence causes his coffee to spill. It reminded me of my friend and client, Dave, who refers to himself as a transformed investor.