Recommended REI Blog : Two Wise Acres
Rental properties is something I have an interest in because of the income stream potential. I have a ways to go before I can get into the rental property game. There are some people I know who are also interested in this opportunity so I thought I would review some of the sites available out there for those who are interested in learning more.
Two Wise Acres
TWA who happens to use the same WP-Magazine 1.0 theme I use is an excellent blog to read. As stated on their About page, it is run by two guys, Rob and Mike which makes for an entertaining blog because of the witty remarks these partners have about each other.
Here are some of the articles I enjoy.
Personal Finance for the Real Estate Investor - A Primer. This is a really good simple start for anyone who is interested in understanding what you need to do with your personal finances before you get into the REI game, whether it is rental properties, flipping properties, etc…
Reporting Taxable Income and Expenses for Real Estate Investments. It is a long read but good to know. I will have to sit down one day and read the IRS publication regarding this. I am paranoid about the IRS and their rules when it comes to paying my taxes. I don’t mind paying them because it means I am making money, I just don’t want to pay more than I have to and that means making sure everything is accounted for. That’s why I use an accountant but it pays to know what you are dealing with as well.
Saving Time and Money when Tenants Move Out. This is probably one of the most crucial aspects of the rental property game because it is all about having a renter pay the mortgage on your property. If there is no renter, you end up paying the mortgage so a short turnaround time makes all the difference. However, one important aspect you need to remember before you rent out again is to fix the property up because there will always be something to work on, possibly due to damage from the previous tenants.
How Much Money Do You Need to Start Investing in Real Estate? This is one of the plans I have been working on. I still have a ways to go but it is a good article to read on to get a good idea of what you need before you get into the game along with the personal finance article mentioned earlier.
The only downside is that they don’t post as often as most regular bloggers do. However, they do make up for it with excellent perspectives based on their own experience in the rental property game.