Ep108 “Do You Really Want to Be a Landlord?!”

Welcome back everyone to “The Really REAL Real Estate Podcast!” Many people love the idea of owning income-producing properties and collecting the monthly rent checks. However, when the reality of owning rental units sets in, many “landlords” loathe the idea of dealing with the difficulties that come with selecting tenants and managing their own rental properties. Today, we talk about some of the key points that need to be given serious consideration before getting into the rental business. TALKING POINTS (3-5): - Introduction - Do you understand that owning income-producing property is a business? - The job is more than collecting rent checks each month. - Rent is considered income, which means you must declare it on your taxes. - Issues WILL arise (whether you are managing the properties yourself or if you have hired a property management company to do it for you)! - What are your qualifications going to be when it comes to selecting tenants? - Decisions MUST be based on numbers and facts ALONE! - Your qualifications must be consistent across the board. - The perfect tenant DOES NOT exist! - You CANNOT be worried about what the neighbors think! - Are you prepared to handle the legal side of owning income-producing properties? - Non-payment of rents - Non-payment of the utilities - Significant damage to the property - Illegal substances found in the home - Evictions - Final thoughts HASH TAGS: #rentals #incomeproducingproperties #landlords #doireallywantodothis LINKS: JASON: https://jasonwilcox.cbintouch.com/ https://www.zillow.com/profile/jasonwilcox1987/ https://www.youtube.com/channel/UCrRksfKiMNteHKYRYrinAug?view_as=subscriber https://www.facebook.com/jason.wilcox.186 https://twitter.com/jason_wilcox1 https://www.instagram.com/jason.wilcox1/ CONTACT INFORMATION: JASON: Cell Phone: 412-651-4638 Email: [email protected]