David Saks: Being A Landlord

David Saks - Real Estate Broker - The Real Estate Mart of Tennessee, Inc. - 4040 North Watkins-Suite #4 - Memphis, Tennessee 38127 - Phone (901) 357-4663

Being A Landlord

                                      landlord

When you've found that perfect investment opportunity, and you see that your perfect investment opportunity fits real nicely into your plans for the future, and you've demonstrated to yourself on paper that the numbers will work and you've done the math, is it time for you to take on the grueling, exhauting, laborious, backbreaking responsibility of becoming a landlord ?

What about those 2am phone calls from the tenants about the stopped up toilet, the loud music, burned out compressor on the air conditioner, the blown fuses, the leaking gas, garbage, the broken windows, the late rent, the evictions....???

You've still got taxes, insurance, sanitation department regulations, occupancy restrictions and parking concerns.  Does it ever end ?

You can always hire somebody to take care of the place for you, such as a professional property management group. But if you want to keep an eye on your property it's your responsibility in the final analysis.

Talk to other landlords that have made a commitment to manage properties similar to the type of property your considering, whether it be a large multi-family apartment complex, or a rental home.

Better yet, speak with other professionals, including our landlords, investors, property managers attorneys, brokers and agents, and other fine members of the great Active Rain community.

You'll be doggone glad you did !




David Saks



Time&Temp Memphis

Legal Disclaimer
Please be advised that:

 The information and notices contained in this blog are intended to summarize recent developments and news. The posts are presented as general research and information. These posts are not intended, nor should be regarded, as legal advice. Some blog posts concern allegations made in civil lawsuits and in criminal indictments in United States Courts. All persons are presumed innocent until convicted of a crime and proven guilty. Readers who have particular questions or who believe that they need legal counsel should seek the advice of a qualified attorney. It is neither the editor's or author's intention to create a confidential relationship or any broker-client relationship via communication from this site at any time. Please consult with your state real estate board if questions & answers in the education section conflict with the laws of your region or if you need clarification regarding their applicability or how they may govern the services that you provide.

By entering this web site, you understand the following:
When you select a link to an outside Web site, you are subject to the privacy, copyright, security, and information quality policies of that Web site. David Saks:
1.DOES NOT control or guarantee the accuracy, legality, relevance, timeliness, or completeness of information contained on a linked Web site;
2.DOES NOT endorse linked Web sites, the views they express, or the products/services they offer unless linked web sites, the views they express, or the products/services they offer endorse or support David Saks in accordance with the standards of the Tennessee Real Estate Commission and the Federal Government's laws regarding commerce and the application, solicitation and transmission of internet-related concerns, commerce or social networking;
3.CANNOT authorize the use of copyrighted materials contained in linked Web sites;
4.IS NOT responsible for transmissions users receive from linked Web sites;
5. That DavidSaks.Com is biographical & real estate related. Some links within will leave this site.
6. http://activerain.com/profile/davidsaks is internet-compliant & abides by the rules & regulations of the Tennessee Real Estate Commission, Eve Maxwell, Executive Director.
7. Unless indicated otherwise, ActiveRain does offer listings, or IDX and is provided for licensed salespersons, brokers, buyers & sellers of real property as a community & professional service.
8. David Saks is a retired / licensed real estate broker in the State of Tennessee, license #290452, and an independent contractor.
9. Information is believed to be accurate, but not guaranteed, at any realty link or document connected to the World Wide Web & viewable by anyone connected to the internet who has a web browser.
10. Brokers, buyers, sellers, agents & anyone should independently verify any information prior to submitting any offer to purchase goods & services from any link.
11. Please Visit The American Real Estate Alliance or Memphis.8k.Com for additional information regarding property issues for real estate professionals and consumers.

 

Photos © & Licensed by Nova Development

All Content Protected © 
Before you even think about
committing a real estate crime
click this red button.
Real Estate Crimes

© All Rights Reserved.

 

 

 

 

"Information generated by the Department of Justice is in the public domain and may be reproduced, published or otherwise used without the Department’s permission. Citation to the Department of Justice as the source of the information is appreciated, as appropriate."

Department of Justice Legal Policies


 

  Real Estate Crimes

 

Click "HERE" For Today's Question

 

 

TheListen Now!

David Saks Show

Saturday Nite

9pm-12am Central

University of Memphis

WUMR

 

Support
America's Hobby

Click Elvis

Mr.Saks' participation in ActiveRain ended April 13, 2015.

His blog archives will remain online.

May God bless you.

Comment balloon 4 commentsDavid Saks • June 14 2010 12:55PM

Comments

David great post, I have my clients always use a property mangement firm for 10% of the revenue well worth it.

Posted by Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002 (Berkshire Hathaway HomeServices) over 11 years ago

Thank you, Endre. The good, experienced, honest PM can eliminate headaches for little extra money. Nice to hear from you. Hope your having a great week.

Posted by David Saks ((retired)) over 11 years ago

Too many new investors look at the mortgage, taxes, and insurance costs when deciding to purchase a property. I love real estate agents who also act as property managers or work with property managers because it gives the purchaser a chance to talk with someone who can give them a real expectation of ROI or cash flow. Real estate appreciation potential is no longer the lone factor when buying a property. The world has changed and we must change with it.

The Home Insurance Specialist

www.getgliga.com

Great Lakes Insurance Group Agency

Posted by Donald Stevens, Insurance for Landlords and Real Estate Closings (MyInsuranceNerd.com) about 10 years ago

Is there anyone on the face of the planet or anywhere in the known universe that doesn't examine the mortgage, city taxes, county taxes, chain of title(if one exists) and insurance costs before they commit to a P&SA (purchase and sale agreement) ?

It's mandatory protocol for the prudent investor or potential homeowner.

Real estate licensure escalates the level of integrity and expertise for the property manager that holds one. As brokers, we're provided the opportunity to examine the state of the market with alacrity and refine the broader awaremess of investment potential by focusing our attention on details which present the best options for return.

Thanks for your comment, Donald.

Posted by David Saks ((retired)) about 10 years ago

This blog does not allow anonymous comments