My husband and I got married right out of college at ages 22 and 23. In the beginning, we felt very poor as we were single income living on a Ensign's salary while I was going to school for my master's degree. One of the goals we established early on in our marriage was financial independence. Our goal was when my husband could retire from the Navy with a pension (god and Navy willing) that we did not need to find another job. We knew that to … [Read more...]
Why My Husband and I Bought a Boat and not a House
My husband and I own eight houses which are all currently rentals purchased bought in the past five years. We own in three states; CA, SC and VA, and I self manage all of our rentals from all around the world (check out my adventure in self manning while in Fiji.) All of my buddies would tell you that I gleefully look forward to each new duty station as it is an excuse to purchase our next personal property, meaning I get another rental at 5% … [Read more...]
7 Sites to List Your Short Rental
My husband and I are building an empire with our 8 Rentals & Counting. Since I left my job in April, I have been able to increase our income from $1800 a month to over $5800 a month (check out our October Income Report). While we are fortunate that rents increased at three of our houses, the biggest asset was turning two of our houses into furnished rentals. Thanks to short term rental income, our income has dramatically increase. While … [Read more...]
How to Prepare Your House (or Rental) For Hurricane Evacuation!
This is the second post in a two part series about how to prepare your house for a Hurricane. The first post, How to Prepare for a Hurricane as a Landlord, can be found here. As a landlord, homeowner or tenant, preparing your house (or Rental) for hurricane evacuation is scary business. You are leaving your home and hoping that the best occurs when you return after the storm. Here are some tips to help you prepare your house (or Rental) for … [Read more...]
Is HGTV Killing your Real Estate Transaction?
A serious issue plaguing real estate in this day and age is the existence of cable television networks, such as HGTV and the DIY network. While they are certainly entertaining and can provide great information, we often lose sight of their place in real estate — which is actually non-existent. They truthfully don’t belong in real estate at all. They are solely meant for entertainment. Like any reality television program, they are directed, … [Read more...]
The Complete Guide to Installing and Managing Tenants
As an empire-building landlord, installing and managing tenant has led to many ulcer-inducing moments, especially when we were first starting out. I began The Reluctant Landlord to share my experiences and help others learn from them. Before we get started I wanted to share my favorite resources. Background and Credit Check I previously used Buildium and than I switch to Cozy as it saved me over $500 a year and is absolutely free for … [Read more...]
How to Make Money on TDY Under the New Flat Rate Per Diem Rules
I am excited that CORT is sponsoring this article, because I absolutely love the opportunities they provide to our military members to save money. Did I mention yet I am frugal and have an expensive empire-building habit? As of November 1, 2015, the military has implemented a new flat rate per diem for long-term TDY— for those on TDY longer than 30 days and not in government housing (lodge, inn, etc.). Instead of getting the standard full per … [Read more...]
11 Tips To Make Buying a House Less Stressful
Buying a house is a huge financial decision, and no matter how many times we have added to our empire, it is still always a stressful and nerve-racking experience. After buying 8 houses and slowly building up our real estate empire, I am here to tell you that it does get easier. The key for us has been having reasonable expectations. We have had many ulcer-inducing lessons over the years, but in the end, things have always worked … [Read more...]
How to Prepare Your House for Rental Photos
Your ad is very important to getting the traffic and the price that you want for your rental house. I will be honest and say that over the years I have become more lazy about this. For the first time, one of my houses sat empty -- that shows how lazy I was. After putting up a great ad and following the steps I know work, it was rented in less than a week. Usually our houses are some of the cheapest houses in the best neighborhoods. Since our … [Read more...]
Is it Smart to Buy a House Sight Unseen?
Every military family and many civilians run into this debate every time they move. Do I rent or buy sight unseen so I have a house waiting or do I stay in a hotel or couch surf until I find a place? While some companies cover house hunting leave, many more do not. Even those who offer compensation or financial assistance often can't help with pregnancy, childcare, work responsibilities, or other issues, leaving many families, including us, … [Read more...]