When contemplating those things that you take now to advance your goals, how far into the long run do you look to begin to see the fruition of one's actions?

How Do You Start to see the Future?

Imagine yourself 10 years in to the future rent 4 keeps. Do you see yourself waking up each day thinking to yourself, "this will probably be a great day?" Do you get up before the sun rises to choose a walk to know the birds chirping, to breath in the cool morning air, to experience the awe of the initial rays of light peeking within the horizon?

You could have that type of positive outlook on life by getting hit on the pinnacle by way of a falling coconut when you first get up each day, or having a strong sense of confidence in the future.

Are you currently still planning to get rich from overseas email "Home Alone" crooks who promise to send $1 million if we just deposit some "good faith" money in their bank account first?

Baby Steps to Increase Wealth, Turn Your House Right into a Rental

I have found that the simplest way to achieve that confidence and security is by taking simple, baby steps that gradually pay off more and more as time goes on. For me personally, this implies a slight change in the manner that a lot of people purchase a new house.

Many people buy several houses within the course of their lives, very few view the transaction as a wealth producing opportunity. They just sell the house they're living in and utilize the money from the sale to get their next house.

What I claim that they will do instead, is always to refinance their existing house and use that money as an advance payment due to their new home. Then just turn their old home right into a money-generating rental house.

Does that sound too an easy task to be true? It did for me.

Get Your Old House Ready to Rent

One element of this method is always to ready your old house for tenants. Don't worry, it's not nearly as bad as that advanced geometry class you took from Mrs. Snape in high school. You certainly can do anything when you have an agenda to follow. Follow my steps and you will soon be ready in no time.

Step 1

Move your entire furniture and personal belongings out of your old house. The home looks bigger and more inviting when it is not cluttered up with beds, chairs, food supplies and toys. It also causes it to be easier to do a thorough job of cleaning the house.

Step 2

Thoroughly clean the house. This includes painting walls (a fresh coat of paint makes the area look and smell good), washing floors, cleaning appliances (especially the oven), shampooing carpets, washing the windows, cleaning the bathrooms and checking the roof.

Tenants are notorious for forgetting to improve filters, so I ensure it is simple for them having a year's supply of air conditioner/furnance filters inside your home for them.

Step 3

Look after all repair work. Leave nothing to chance and make all repairs before tenants move in. Change broken outlets and switches, patch holes, remove stains, replace cracked and broken glass, replace missing shingles, and fix leaks.

If broken appliances cannot be easily repaired, my policy is to replace them with quality used appliances. At a used appliance store that I frequent, they recondition used appliances, and give a six month warranty.

Step 4

Make certain the yard looks great. The yard is the initial impression that renters see. Consider landscaping the yard such that it is low maintenance and low water use. This will save you time later when you have to organize for the following tenants.

Pots of flowers in the front yard are an effective way to create color and beauty to the initial impression that folks have of one's rental house.

There are a lot of those who have pets and they won't are now living in a house that doesn't allow pets. So, I allow small size pets (no Dogzillas!) and charge $10 a month for every pet. It's a win-win situation. The tenants have a good place to keep with their pets, and I'm able to create a little extra money each month.

Step 5

You might want to take photographs of all rooms and appliances before tenants move in. Have tenants fill out a checklist to verify the condition of the flooring, windows, walls, the appliances, bathrooms and kitchen. If anything is wrong when the house is rented, you are able to note it on the checklist. If everything on the checklist is okay, you then both sign off on it.

You're On Your Way

The procedure of creating my house look attractive is simple and fun. And, understanding that soon someone will soon be paying me money monthly to reside there causes it to be exciting too rent 4 keeps.

I can hear those birds chirping, and it's not from being hit by way of a coconut.

Terry Sprouse is author of the award-winning book "Fix 'em Up, Rent 'em Out," and the new e-book "Never Sell Your Home! How to Turn Your Home right into a Rental House."