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Maintaining the Ledger

Maintaining the Ledger

Maintaining rental properties takes not only physical labor, but it also takes a fair amount of bookkeeping. There are two “books” the rental property investor maintains. A financials spreadsheet that provides an overview of the income and outgo for each unit and a ledger that tracks in detail the daily expenses for the business. Of [...]

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Norm Spivey
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Maintaining the Investment

Maintaining the Investment

This past weekend, as I wallowed around in the kitchen floor of a rental unit replacing a dishwasher, I couldn’t help but reflect. Some “passive” income this is! I’ve said it once, I’ll say it a hundred times, “passive” income from rental properties is very misleading! When actively managed, rental properties require work to keep [...]

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Norm Spivey
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Setting Conditions

Setting Conditions

I always get a chuckle out of these “buy real estate with no money down” seminars that roll through town from time to time. Unless planning to live in the investment property, most banks will only go 75% loan to value on a conventional loan for an investment property. This means, when securing a conventional [...]

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Norm Spivey
  • 619

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