Thursday, February 21, 2008

Rental Property

I'll start out by saying this is a great way to earn equity and sometimes cash flow right away, but it's not always that easy.

My husband and I have very different management styles when it comes to managing our rental properties. I would say I'm stricter, and he is very laid back.

Well this year we decided that he would pretty much manage them alone and I would do the financial responsibilities once rent was paid. This has helped with our different view points. For Christmas this past year he decided it would be a good gesture to send both families a gift card to Festival Foods. I was not necessarily for this since they both owed us a few months rent. He did it anyway and I tried to bit my tongue... which was very hard.

Come mid-January.... they both sent really nice person Thank-you notes alone with rent paid in FULL. I have to tell you I was so shocked that his gesture paid off I didn't know what to do with myself.

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