Richard Davis - GET THE MOST MONEY FOR YOUR REAL ESTATE INVESTMENT

your fees and penalties and, if necessary, file for eviction in a worst-case scenario. (Keep in mind that involving lawyers might not be worth it for a $200 charge because of lawyers’ and court- related fees that will cost much more than this.) Whenever you need to do repairs, shop around, if necessary. Get plenty of quotes from different contractors and companies to find a reasonable rate. You’ll also want to screen them to ensure their credibility, reputation, and skills. Make sure they’re certified and licensed, and ask for references. Once you find contractors and tradespeople whom you know you can trust, and who are reliable and affordable, be sure to cultivate strong relationships with them. The goal is to create a list of local contractors, tradespeople, and businesses involved in all aspects of home maintenance, such as construction workers, electricians, plumbers, renovators and remodelers, painters, roofers, bricklayers, and other contractors and tradespeople. Their expertise can be invaluable, and having them on speed dial will make dealing with issues much less stressful.

Conduct regular inspections.

Make sure the property is being well-maintained, check for any damage, and check up on your tenant. If you discover your tenant has snuck in a pet (which happens more often than you might think), confront the tenant immediately and remind them of the policy and penalties. Depending on the situation and your specific agreement and policy, you can evict the tenant, get a pet deposit, or get the pet moved out of the property.

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