Day 15: Check Your Credit Score A good credit score opens doors to better financing options. Check your credit score and take steps to improve it if necessary. Don’t know how to improve your score? Ridge Lending Group and My Credit Guy can help to give you some tips and guidance on what to do to improve your score.
Day 16: Understand Tax Implications Be aware of the tax implications of your financing decisions. Consult with a tax professional. Don’t have a trusted Tax Professional? Ridge Lending Group has suggestions to pair you with someone to optimize your financing strategy for year-end benefits, and for real estate investing as a whole. The key here is to have support systems in place that can both maximize your tax deduction while keeping you in check for whatever loan products you’re after.
Day 17: Property Insurance Checkup Review property insurance policies to ensure they provide adequate coverage. Consider updates based on changes in property value or market conditions.
Day 18: Analyze Amortization Schedules Review amortization schedules for your loans. Understand how payments are applied to principal and interest over time.
Day 19: Tenant Satisfaction Survey Engage with your tenants through a satisfaction survey. Understand their needs, address concerns, and foster a positive landlord-tenant relationship.
Day 20: Evaluate Security Measures Review and enhance security measures for your properties. This includes both physical security and digital measures to protect tenant and property interests.
Day 21: Property Exit Strategy Develop an exit strategy for each property. Consider long-term goals, market conditions, and potential opportunities for profitable property sales.
