Never Fix a Toilet !! Income Property Wealth Without the Has

Dave Hertner

Copyright 2002 (c) Dave Hertner, All rights Reserved. Permission is granted to electronically reprint the following article, in your publication, e-book or web site, as long as there are no changes made to the copyright info and the resource box is included with the article.

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"Never Fix a Toilet !!
Income Property Wealth Without the Hassles !!" by Dave Hertner
© Copyright 2002
All Rights Reserved

If you are like me you are hard working and pressed for time. You think that the best way to earn a living is to own income properties and have other people give you their hard-earned cash.

The problem lies in that you dislike being a landlord and all of the negativity that goes along with it.

This article will offer you a solution that will let you have the best of both worlds !!

What I would like to suggest to you is that you step back to look at the broader picture. Larger companies that own numerous buildings deal with thousands of tenants and thousands of toilets. You don't think that the owner of all these units gets the call in the middle of the night to bring a plunger do you? Of course he doesn't. He has a system that kicks into place for almost any problem that may arise.

If you are just looking to get into the property ownership game then these ideas will save you some grief !! The first thing that you need to do, if you don't already own a property is to look for one that is as maintenance free as possible. It sounds simple but you have to do your homework on a property purchase.

One of the first income properties that I personally purchased revealed to me its true colors when we started to have weird electrical problems. It tuned out that there was bare wiring that had been installed around 1920 that had cardboard boxes sitting on top of it up in the attic. Talk about having an anxiety attack on the spot. !! Just be VERY thorough in your pre-inspection.

The next thing I would suggest that you do is to call every property management company in the phone book. Be up front with them and schedule an appointment with them to look at the property. Tell them that you would like to grow the business and that you are looking for a long time partner in a property manager. They look favorably at long-term business.

In particular, look for property managers that have properties of their own. These people are the best to teem up with because they have contacts on both sides of the business and they are more likely to give you a discount in the price of their services. They will also be more sensitive to any landlord type problems that you might encounter and offer valuable advice.

You may also over time be able to buy into the property management company so that you get a cut of the profit from many units and a discount in the cost of operating your unit(s).

There are many people out there who when asked would teach you everything they know about how to avoid fixing toilets. That is a job best left to a professional plumber who is on retainer to the management company taking care of your property. All you have to do is ask !!

Don't be greedy !! Be smart !! Just like all the truly successful property owners.

Donald Trump is not a plumber!!!

To Your Wealth!!!

Dave Hertner

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