Owning Rentals Is Easy… Until It Isn’t - With Amy Kendall

Amy is a swiss army knife of real estate. Real Estate Agent for buyers and sellers, for commercial real estate, property manager, tenant placement, and more. While so many agents do just one thing like personal, or commercial, or property management. Amy talks about the skills she’s developed to work in all of those areas. I personally have had Amy help me find tenants for my properties, so I’m really excited to share this episode with you!One of the most important things we discuss is around Tenant Placement and screening. Tenant selection matters more than anything else. Amy shares some important red flags to watch for when screening, the importance of doing background checks and skip checks and income verification both to protect yourself as a landlord and your property. Bad tenants can create significant legal, financial, and sometimes even insurance problems.Many people don’t want to be Landlords, and Amy highlights the things you need to be aware of. Maintenances, legal complications, communication issues that can occur with tenants, and how the “passive income” of being a landlord is never as passive as you really thing.Listen for these key segmentsThe skill-set required to manage a rental, and why a property manager can be so helpfulHow Risk and cash-flow differ between commercial and personal real-estateHow “Passive income” of rentals isn’t nearly as passive as you thinkCommon insurance mistakes landlords makeWhy 5-plex properties are the most frustrating to own as a landlord, to manage as a property manager, or to get insurance forSetting realistic expectations for a real estate dealRegardless of where you are at in your home buying, or real estate goals, Amy will do a super good job of helping you set realistic expectations for rental income, understand vacancy, turnover, maintenance costs, how to navigate when you should self-manage or get a professional property manager, and how you need to STRICTLY treat real estate like a business if you don’t want to lose a ton of money on your investment.Connect With Amy!Amy Kendall - Real Estate Agent, Property Manager, Investorhttps://www.instagram.com/investor_amy/https://www.facebook.com/acadiapropertieshttps://www.facebook.com/AcadiaPMConnect with FinancialGinger:🌐 bio.site/FinancialGingerFinancialGinger — it’s not about impressing you… it’s about serving you.Subscribe for get the latest from FinancialGinger 🎤 Episode #24: FinancialGinger