Quotes of the Day

Vegetarians and vegans tend to have lower bone mineral density (this translates into elevated fracture risk) compared to meat eaters, not only because they are generally more slender but because of the potential for inadequate vitamin D status and calcium intake. I recommend 2,000 IU of supplemental vitamin D a day for those getting inadequate sun exposure and at least 600 mg of calcium daily via calcium-rich plant foods——preferably low-oxalate dark green leafy vegetables, which include all greens except spinach, chard, and beet greens. (All very healthy foods, but just stingy with their calcium.) [2023] - Michael Greger

When you express how splendid your partner or spouse is, everyone respects you. [2009] - Leil Lowndes

Once you or your tenant move into the property, have the property reappraised and have the bank give you a line of credit against the home. Get the maximum line possible and decide where you want to invest it, when you're ready. Once you have your next property, you can put the potential positive cash flow into a savings account where you save another down payment for your next property, or you can pay down your line of credit to reuse it. If you can naturally save money and don't need to tap into this line, then do not, as you are still paying interest on it when you do, but it does allow you growth options. Repeat, perhaps once a year or every two years, whatever your plan may be. [2021] - Shazia Virani

Always take a rental application fee with the application. The amount you charge must be reasonable and reflect the actual cost of you running the application, plus reasonable compensation for your time doing so. I recommend finding out what the local property management companies charge and charging a similar amount. Currently, I charge $35 per adult. Be sure to check with your state laws and make sure there are no laws dictating how much you can charge. [2015] - Brandon Turner

Conventional lenders are not very fond of loaning on properties owned by an entity, such as an LLC or corporation, especially for residential loans. You could, as many investors do, buy the property in your personal name and then transfer it to your LLC, but you put yourself at risk of having the "due on sale" clause called by the bank. Be sure to talk to a lawyer and CAP who can help you sort these types of issues out, or speak with your bank and get permission, in writing, to transfer your properties to an LLC after buying them (this is the only way you'll be truly protected from that dreaded "due on sale" clause). [2015] - Brandon Turner