It took us 3 weeks to finish renovating The Home and we put it on the market last weekend.  We rewired the entire home with permits, fully landscaped the front yard with underground sprinklers on a timer, and replaced the kitchen cabinets, sink, countertop, refrigerator and stove.  We replaced a few broken windows, painted the interior and exterior, put up new panelling, and polished the hardwood floors.  Here are the Before & After photos.

We agree with this article that "holding rentals" is the way to long-term wealth.  What do you think?

http://www.american-apartment-owners-association.org/property-management/real-estate-investing/create-long-term-wealth-landlord-part-1/

I found this article and thought it provided good information on whether to get into real estate investing.  Obviously, we think the pros outweigh the cons.  Tell me what you think?  Do you currently invest or are you thinking about getting into real estate?  Do you manage your properties or use a property management company?

http://www.biggerpockets.com/renewsblog/2014/07/05/invest-real-estate-maybe/

"The Home" continues to be remodeled. We added a new lawn, are patch and painting the bedrooms and removing the trash from the backyard.

Look what a new lawn can do!

The overhang is barely is standing up.

The wood has rotted away.

The weeds are being cleared away.

No more sofas on the side yard.

The orange walls are quickly disappearing.

First view of our new investment home.

These are photos of the first view of the home. We need to do lots of cosmetic things and a big electrical fix, but it has potential.

The front of the house.

We have a huge tree in front yard.

Lets get that cleared out of the side yard.

The backyard needs some love and care.

The kitchen needs some help too.

There are hardwood floors throughout the house.  Lets get those sanded and polished.

The bathroom needs some help too.

The linen closet.

The blue bedroom needs painting.

The orange has to go.

Lets get an electrician out here quick.

Look at that wire hanging there.

Our offer on the house was accepted!! We bought it. It is a 2 bed, 1 bath single family home that we will rent or fix it up and sell it. What an easy closing process when you are not taking out a bank loan. We only spent 10 minutes in the title company signing a few papers. We got the keys and will take our first look inside this weekend. We will post photos soon.

We got a tip about a house for sale. We thought it was such a great deal to invest in that we made an All Cash, No Contigency, Site Unseen offer. We will let you know if it was accepted.

Screening Tenants

We think it is very important to screen prospective tenants before leasing to them.  After years of hit or miss tenants, we have come up with an application and screening process that lets us know who we are renting too.  We do a credit history, background check, and have an application fee.

*Whatever criteria you come up with stick to it.  For example, we do not accept anyone that has had a felony or eviction. Period.  If we make an exception for one applicant then it leads to another and another.

I like this article from Bigger Pockets about questions they ask prospective tenants.  I'll admit that I have not asked the smoking question before, but we do get all the details about pets and emergency contacts.  We require a pet deposit too.

http://www.biggerpockets.com/renewsblog/2014/04/14/tenant-screening-questions-ask/

What is your screening process?