Money Pitfalls

There is a word that every Landlord knows in America, Money.  It doesn’t matter where you live or who you are.  As a Landlord you will be susceptible to money pits.  I know I have been called a million times as a Landlord myself.  Selling me things from insurance, new mortgages, to dream vacations.  Not to mention the financial stress a bad tenant can put us in as well.  Knowing these money pitfalls will help you to devise a plan to avoid them.

  1. Banks.
    1. Credit Card’s
    2. Overdraft Fees
    3. ATM fee’s
    4. Interest Rates
  2. Personal
    1. Expensive Hobbies
    2. Expensive Habits
    3. No Comparison Shopping
    4. Impulse Buying
  3. Financial Choice
    1. Buying too expensive vehicle
    2. Not setting money aside for emergencies
    3. Not reading through a lease thoroughly
    4. Not Managing your budget

These are just a few of the dangerous sinkholes you can fall into.  Hopefully knowing some of these pitfalls will help you to avoid them.  Remember to always think something through before you spend money on it.  You might find something less expensive but the same quality.  You might even find yourself not needing whatever it is anyway.

 

Thanks,

Brandon C Varn

President

Accurate Credit Bureau

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