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Where to Buy Rental Properties | Lansdowne, PA

Is Lansdowne PA a good place to buy rental properties and be a landlord? Take a neighborhood tour with me of Lansdowne, PA in suburban Delaware County.

This is one of the towns that have a large number of small multifamily properties in its housing inventory.

Want more insight?

Schedule a New Investor Discovery Call

Schedule a Seller Strategy Session

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Is it Worth It to Hire a Professional Property Manager?

Many new investors struggle with whether to self-manage their rental properties or hire a professional property management company. This video covers the questions that you should ask yourself before making a decision to DIY manage your own rental investments.

[0:53] Professional property management as an investment

[2:24] Example of slow profit erosion when tenants “manage themselves”

[4:06] What are the systems you need to put in place to self-manage?

[5:54] Do you know all the local legal requirements?

[7:14] What kind of communication should you be prepared to have with tenants.

[8:55] How do you figure out whether you have enough time with your day job

[11:43] Benefit of scalable systems with professionals

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Schedule a New Investor Discovery Call

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Financial Planning Tips As You Scale Your Real Estate Investing

Ever wonder if you have set yourself to scale your rental business? No one wants to fall into a financial landmine. Many newer real estate investors may be ready to quit real estate investing too early because they lack a financial plan to help them grow their real estate businesses.

The recorded webinar focuses on financial planning strategies to help real estate investors who want to scale a profitable rental property portfolio. Watch this candid financial conversation for and by real estate investors.

The panelists in the webinar include: Veronica Woods, Real Estate Investment Advisor and Broker @reallifeplanning CFA®, CFP® Ian Scott, CPA

Video rundown:

[1:19] Ian Scott bio … understanding the real estate investing niche

[3:08] Cynthia Meyer bio…scaling as a first-generation investor

[4:08] Veronica Woods intro…bio….helping those well-positioned financially but concerned about risk

[10:50] When do you think it is time to upgrade your financial team?

[ 18:00] What advice would you give on setting deal goals in a changing economy?

[ 24:13] How should investors think about the BRRR strategy in today’s market?

[ 35:22] What advice do you give investors about raising rents?

[41:44] What mistakes do you see newer investors make with thinking about repair/maintenance expenses?

[ 54:37] What do you wish more new owners thought about before they scaled their portfolios?

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Schedule a New Investor Discovery Call

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Renovation Mistakes to Avoid for New Rental Property Investors

In this video, I discuss 5 renovation mistakes that kill the profits of new rental property investors.

[0:53] Excitement around designing rental property

[1:22] #1 Over-improving

[3:02] #2 Skipping required repairs by local municipality

[4:13] #3 Picking the wrong contractor

[5:37] #4 No value-added amenities

[6:59] #5 Mismanaging the budget

[9:14] Getting your renovation budget right upfront

Want more insight?

Schedule a New Investor Discovery Call

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Rental Property Risk: Insurance Tips for Scaling Rental Property Portfolio

As you scale your rental property portfolio, many investors think more seriously about how they manage their risk. You may view rental property insurance differently with 1-2 rental properties vs. 5+ properties.

This video is an interview with investor property insurance expert, Jeff Jones of Best Insurance Pro. (https://www.bestinsurancepro.com/contact)

During the recording, we touched on some of the burning questions I hear as a property manager in Philadelphia around managing risk as a rental property investor including:

Question 1: What safety measures should landlords install in properties to reduce risk?

Question 2 What are the top repairs to reduce overall insurance costs?

Question 3: Which repairs are best kept as the landlord’s responsibility

Question 4: What is the difference between putting the property in an LLC vs keeping it in owner’s name from a liability perspective?

Question 5: What is most important to know about insurance as you scale your rental property portfolio

Want more insight?

Schedule a New Investor Discovery Call

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How to Buy a Duplex and Rent Out Half

In this video, I discuss some tips to buy a duplex or triplex and live in one unit and rent out the others. This strategy is known as house hacking.

[1:00] Overview of house hacking

[2:29] #1 Focus on the neighborhoods that have the supply of multi-families

[4:26] #2 Check out tenant-occupied properties

[5:30] #3 Look for homes that do not need major repairs

[6:58] #4 Look for a property with separate utilities

[7:50] #5 Run the numbers on the investment over the long term

[9:14] Tip to avoid lender surprises

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Schedule a New Investor Discovery Call

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Top concerns about buying a property with tenants

Some investors are hesitant about even thinking about buying a property with existing tenants because they don’t want to deal with the previous landlord’s headaches. They have fear around the hidden costs that they may encounter with tenant-occupied properties.

In this video, I will share the legitimate concerns and how to work around them to get a good deal when you buy a property with tenants.

[0:51] #1 Inheriting other people’s headaches

[1:57] #2 Limited information about the tenants

[4:07] #3 Hard to get rid of tenants

[5:09] #4 Challenge of managing the transition

[8:22] The tenant is also evaluating you as a potential landlord

Want more insight?

Schedule a New Investor Discovery Call

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What’s In A Rental Property Budget

In this episode of the Rental Property Café™ Video Podcast, real estate financial planner Cynthia Meyer and real estate advisor Veronica Woods talk about the 6 common rental property budget mistakes that they have seen rental property owners make — and what real estate investors can do to avoid them.

☕ Rental Property Budget Mistake #1: Underestimating All The Variable Expenses [00:02:53]
☕ Rental Property Budget Mistake #2: Not Budgeting Enough For Turnover Expenses [00:06:08]
☕ Rental Property Budget Mistake #3: Not Including A Budget For A Property Manager [00:08:36]
☕ Rental Property Budget Mistake #4: Not Prioritizing To Build Cash Reserves [00:11:33]
☕ Rental Property Budget Mistake #5: Not Monitoring Your Actuals vs. Your Budget On A Regular Basis [00:12:55]
☕ Rental Property Budget Mistake #6: Not Tracking Your Budget At All [00:16:33]

About the Rental Property Café™:

The Rental Property Café™ podcast offers a real estate tool kit for busy professionals who are building a real estate portfolio. In each episode, co-hosts Cynthia Meyer & Veronica Woods explore ways to grow a successful real estate business while growing your career.

Connect with Cynthia Meyer:

Want more insight?

Schedule a New Investor Discovery Call

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Schedule a Rental Income Strategy Session

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How to set the market rate for your rental property

How do you estimate the market rent that will allow you to maximize your rental income for your investment property?

In this video, I will share some best practices in deciding on what the current market rent is. I will cover 5 steps to ensure that you select the right rent to attract the right tenant and keep up with your operational expenses.

[0:30] Charging market rent for more wealth

[1:37] #1: Define your neighbor market

[2:25] #2: Be clear on target tenant profile

[3:39] #3: Review the rental comps

[5:20] #4: Test the market

[7:18] #5: Talk to real estate professionals

[8:22] Mistakes smaller landlords make

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How to Calculate the Numbers on a Rental Property – Estimating Cash flow

How do you figure out if the numbers will work with a potential rental property?

In this video, I will focus on cash flow and real estate math. A real estate investor makes their decision on whether they have a good deal by the numbers. I will cover 5 things to keep in mind when you calculate your estimated cash flow on a potential real estate deal.

[0:40] Defining a good deal by cash flow

[1:41] #1: Set a financial objective per door

[2:41] #2: Don’t underestimate variable expenses

[3:39] #3: Validate utility costs

[4:26] #4: Be conservative with fixed expenses

[5:26] #5: Validate the seller’s assumptions

[6:18] “Back of the envelope” tip for cash flow