More than any other income property type, residential property will bring you into close contact with those renting or leasing your property. Possibly most important part is screening those you rent to. Background checks, calls to previous landlords, and searching interviews can save you a lot of headache and money down road.

It's likely that at some point in tenancy something will break or malfunction. If you have ability to replace windows or wiring, know how to fix an A/C or refrigerator, or have rudimentary plumbing skills, chances are you will save some money by performing these tasks yourself.

Sometimes dealing with tenants can be hardest part of owning residential income property. How well can you deal with angry, demanding people? Do you stay cool, calm, and collected in tense interpersonal situations? If so, you'll be prepared to deal with some of issues likely to crop up during your management experience.

Conclusion

It's important to keep your goals in sight when managing a residential income property. Sometimes it's easy to get bogged down in day-to-day duties of running property that you lose sight of making a profit. Know your rights as a landlord; know your bottom line as an investor. As with any investment, having an accurate idea of your time horizon will, to a large extent, dictate amount of effort and money you should put into your income property.

Do-It Yourself Credit Repair – There are two primary ways you can dispute negative items on your credit report. One way is to write several original letters to credit bureaus, which can take several hours to complete and adds weeks onto credit repair process.

The second and easiest way to dispute negative items on your credit report, is to launch your disputes online. The credit repair system that I helped develop, Loan Saver PRO, shows you step-by-step how to order right credit reports (yes, there are some wrong ones), launch effective online disputes, and manage whole credit repair process.

Results

Credit Repair Service – If it sounds too good to be true, it probably is. To get your scores into 800’s would take over 10 years of perfect credit, so don’t believe it. ‘Internet based’ credit repair services will also try to tell you where your score will be in 30-60 days and that’s impossible to predict. Also, any credit repair service that promotes pipe dreams of a new car and a new house is not to be trusted; unless of course they plan on loaning you down payment.

Do-It Yourself Credit Repair – A reputable ‘do-it-yourself’ credit repair system should never promise a certain score. However, I will promise that if you decide to use a reputable ‘do-it-yourself’ credit repair system, and are patient, your scores will increase significantly. On average, I have seen Loan Saver PRO credit repair system raise scores into high 600’s and low 700’s. With those scores, you can likely get any loan or credit card you desire, and at best rates possible.

Again, I hope above information will help you make a better decision when deciding what to do regarding your credit situation. If you still decide to work with an ‘internet based’ credit repair service, make sure you do your research, and don’t say I didn’t warn you.

To help get you started with ‘do-it-yourself’ credit repair process, my company Loan Savers LLC, offers a free guide that will help you order right credit reports needed to repair your credit. Visit http://www.loansaverpro.com/index-1.htm and submit your email address to receive a free Insider’s Guide to Ordering Your Credit Reports.

Todd Disraeli has been in the mortgage and credit repair business for over 10 years. Todd's primary expertise is consulting with mortgage companies and helping them turn declined loans into approved loans. Todd uses his extensive knowledge and experience to help mortgage companies, and their loan officer’s, work smarter and not harder.