Our first caller on today’s Q&A asked a great question: what is the best way to fill a vacancy? On today’s show, I’m sharing some of my personal experiences and tips for dealing with vacancies.
This episode also contains my answers to your questions on using equity to grow your portfolio, and how to get started in real estate when you have credit struggles. Press play to hear my answers to your questions on this episode of Investing in Real Estate!
On this episode you’ll learn:
- How to handle a vacancy in your rental property.
- The best way to utilize equity to grow your portfolio.
- How to get started in real estate with bad credit.
How to Handle a Vacancy in Your Rental Property
Filling a vacancy in a rental property can take anywhere from a couple weeks to a few months. It really depends on a few things: the rental market, the time of year, and the property management company you’re working with. I want to remind you that vacancies are an inevitable part of the rental business, and you will get through it! For more on vacancies, see this video on six tips for dealing with a vacancy.
The Best Way to Utilize Equity to Grow Your Portfolio
As I’ve mentioned before, I’m a huge fan of the HELOC. You can definitely find a HELOC with a reasonable rate and use it to expand your portfolio. Just make sure that your numbers make sense, and that you’ll be able to pay back the credit line.
How to Get Started in Real Estate with Bad Credit
I know that having bad credit can seem like an insurmountable obstacle, but it is possible to turn things around. Many successful real estate owners that I know started out with bad credit and/or no money! If you’re in this position, getting started usually begins with finding the right deal.
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6 Tips for Dealing with Vacancies in Your Rental Properties
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DISCLAIMER: I am not a financial adviser. I only express my opinion based on my experience. Your experience may be different. These videos are for educational and inspirational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. There is no guarantee of gains or losses on investments.
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