I have handyman experience and know that I can fix anything from plumbing to HVAC, but I didn’t realize how destructive some tenants can be with your properties.
I wasn’t expecting to inherit a dime when my grandparents passed away, but I couldn’t dismiss the announcement as fantasy after a copy of their will was procured for me. Clear as day they outlined their intentions for their estate and how they wanted their remaining assets dispersed after their demise. I immediately started thinking of ways that I could invest the money, but I didn’t want to get swept up in a ponzi scheme in the crypto currency world like so many of my friends. Going the safer route, I put a tiny amount of money into a stable crypto coin and then used a good portion of the cash to invest in the real estate market. For whatever reason, I convinced myself that I could make a lot of money by purchasing a few properties and then renting them out to tenants. I have handyman experience and know that I can fix anything from plumbing to HVAC, but I didn’t realize how destructive some tenants can be with your properties. You need to have annual property inspections so you know the condition of your property on a yearly basis, catching any issues in the process. If my tenant fails their annual property inspection, I have the choice to void their lease and they’re given a window of time to find a new home. Otherwise they have to forfeit their security deposit and produce another one while I call my handyman service to fix the problems in the property caused by the tenant. Some people who work in real estate opt out of doing these property inspections, but they give me an extra layer of insurance in some regards.