LANDLORD PROFILE INTERVIEW:
Any Unique 'Local' Landlord Requirements?
Just know that it may take 3 months to get somone out.
Number of Rentals?
Years of Landlording Experience?
Deciding which applicant would be best. All of them have "something" wrong.
Your Biggest Mistake?
Trusting a tenant.
New Landlord Advice?
Trust no one. The written word is more powerful than the spoken word.
Favorite Type of Resident?
A couple with both persons working and have good credit.
Best Way to Find/Attract Residents?
Signs in the neighborhood and ads in the paper.
Favorite Application Question?
Have you ever refused to pay rent?
One Way to Keep Good Residents?
Give them an option to buy.
Favorite Rental Clause?
Option money is non-refundable.
Money Making Cash Flow Tip?
Always give an option and make residents responsible for repairs.
Money Saving Maintenance Tip?
See cash flow tip.
How Do You Encourage On-Time Rents?
Rent is due on the 25th of the previous month and late on the 1st. They lose option credit if they are late.
How Have You Collected Past Due Rent?
Sent a pay or quit notice.
Trick A Tenant Played On You?
Tenants told the judge that they did not receive the notice to appear in court for the eviction. This got them a two week extension.
Favorite Real Estate Book?
Flipping Properties by Bill Bronchick.
What's Rewarding About Being A Landlord?
THE MONEY!!! The properties I held have had AMAZING equity build-up. Whenever the tenants give me a problem, I focus on the big picture so it does not cause me aggravation.
How Has MRLANDLORD.COM helped you?
Great monthly tips!