Writing an informative post unconnected takes some brain storming

in #steemleo5 years ago

We never really realized how much we use and rely on technology and the internet for information until it is not at our figure tips.

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I’m sitting on a plane right now (after sitting in the runway for 45 minutes before taking off late) and had the desire to write, but I cannot reference all the resources I usually do. This time I have to just use my brain and the knowledge I have acquired or the experiences that I have had.

The thing on the forefront of my mind is the real estate meetup I went to in Massachusetts last night. I always pick up a new useful piece of information at these events. I like to think I add some value as well and drop a nugget of knowledge on other as well.

One of the things I picked up from other rental property owners in the area is they do not collect deposits. I found that a bit odd, but I have recently learned how much a pain it is to handle a tenant’s deposit correctly based on MA law.

They all looked at me and said, it is just not worth the hassle. You need to get a W9 from them and remember each year to pay the interest out to them from the separate account that is opened for just the deposit and so on and so on.

Basically they said, worry about all the laws I need to adhere; it just makes it easier to not collect one.

So they literally collect first month, last month and that is it.

Not sure I’m totally onboard with this as I want to have some deposit money to remedy any damage a tenant causes, but I also get their point.

It’s a very regulated state. Makes me appreciate FL even more.

Anyway that is one thing I learned last night.

....And now that I'm back on the ground I will post this

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I have 0 experience with rentals, but looking into getting into it.

From everything I read it sounds like it's better to do the upfront determination to ensure that's a good renter, but I'm sure this is stuff you already know.

I do have a good chunk of experience, but there is always something new to learn in each and every market.

There is a wealth of information about real estate investing on my website www.scaredycatguide.com feel free to check it out!

To listen to the audio version of this article click on the play image.

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