Most months several potential investors decide to buy apartments. The task is harder than most of them realize. They expect to win and are often baffled when they don’t prevail … quickly. They don’t understand this area is in a tougher league than most of what they encounter. A great broker can boost their odds…
A critical ingredient for real estate success is to have a plan. It is important to have dreams of success, but it is vital that you plan for success. To be able to be successful in real estate investing, you need to set goals. These goals need to be realistic goals. Setting goals is simply…
Andrew and his family had freshly arrived in the United States and the young Carnegie was eager to work. He took his first job at age 13 when an industrial textile weaver offered him employment as a bobbin-boy. Weaving was something Andrew knew a little about, in that his father had supported the family…
Customer service. It’s the secret sauce that can turn a prospect from potential to SOLD! And while there are many factors to consider in the rental sales process, if you allow subpar customer service to persist at your properties, you’ll soon find yourself on a slippery slope of declining sales, lost revenue and a beleaguered reputation. In…
Baby Boomers, long the drivers of consumer culture in the United States, are no longer the top of the pecking order. Millennials and Gen Z, the generation after them, have taken over! Millennials are now the largest of all living generations. Gen Z, mostly the children of the smaller Gen X, aren’t far behind. And both…
It might not be something you can check for in an apartment application, but in my experience, the best tenants are those who care about each other. If you own an apartment building and can manage to build community for residents there, you benefit them by bolstering their sense of fellowship in the neighborhood, and…
Regular readers of this space know that Attorney Dale Alberstone, who for many years has dispensed practical resident manager wisdom and advice to AOA readers, traditionally writes this annual update article. Dale announced his retirement last year, and I have been asked to step in. I consider it a privilege. I want to start by…
Never has there been so much pressure on Californian residents to pay more in taxes. It seems like the barrage of proposed new taxes and tax rate increases strengthens with each passing year. Not all proposals will be implemented, and many will be tried in court, however, there is a clear trend toward increasing the…
As a rule, I would not recommend having a guarantor on a lease agreement. If the person taking possession does not have sufficient credit, it is best to find a different applicant. Requirements for Guarantors If you do choose to have a guarantor, this person: Should reside in close proximity to the premises. Attempting to…
In the last 35 years, no one’s equity has grown at a faster rate than the couple I call “Mark and Sharon.” They each had more than 20 years of working for other people’s benefit before I met them. She is a doctor, and he had a command position within a major fire department. For…