LANDLORD PROFILE INTERVIEW
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MR Landlord's  Getaway Cruise

LANDLORD PROFILE INTERVIEW:

Name:
M J Fonte

City:
New Orleans

State:
LA

Any Unique 'Local' Landlord Requirements?
None

Number of Rentals?
2

Years of Landlording Experience?
16

Hardest Job?
Finding "quality" long term tenants. Quantity and deadbeats are no problem to find.

Your Biggest Mistake?
Leasing to someone with a non-traditional job (dancer) with their promise to follow the rules. The eviction followed almost 6 months later. The aftermath cost $8,000.

New Landlord Advice?
Check out any prospect to the best of your ability. Do a phone interview to find out the who, what, when, where and how . (And always run a credit check).

Favorite Type of Resident?
Divorced, middle-aged female or Mid 20's married couple.

Best Way to Find/Attract Residents?
Keep rental in top shape and word of mouth.

Favorite Application Question?
Drivers license number? With that number you can find out almost anything you need to know.

One Way to Keep Good Residents?
Adding a ceiling fan or two and a little paint usually does the trick. I also tll my tenants that as long as they stay I will not go up on the rent.

Favorite Rental Clause?
Damage Deposit / Clean-Up Fees.

Money Making Cash Flow Tip?
Refinance for lower interest rates.

Money Saving Maintenance Tip?
Buy a supply of A/C filters and bring one every month/time you inspect the property.

How Do You Encourage On-Time Rents?
Pffer a "discount" if rent is paid on time. For example, what I want in rent is $675 per month, but lease says $700. If rent is paid by the due date, tenant takes a $25 discount.

How Have You Collected Past Due Rent?
With the help of a Judge.

Trick A Tenant Played On You?
A "friend" coming to "visit" for a few days ended up staying much longer.

Favorite Real Estate Book?
Property Management For Dummies.

What's Rewarding About Being A Landlord?
Cash flow and tax advantages.

How Has MRLANDLORD.COM helped you?
Great insight and "useful" information.

 


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Comments From Landlords:

  • "I first want to THANK YOU! Your site is awesome. I have learned more since I have visited your site in one or two days then I have in my whole 10 yrs. dealing with rental properties. Many, Many Thanks keep up the good work."
  • "I want to express my gratitude to all of you and others who have answered my questions from this site. This site is a blessing to us all, both to the new and the old, to the beginner and veteran, to the rich and to those who wanted to become wealthy through real estate knowledge. Most of all I want to thank Jeffrey for his creativity and insight in helping us. May we continue building our wealth by helping others. Grace and peace multiply to each and everyone of us as we harvest the wealth of the land and help others do the same thing and shelter those who are in need of rental properties."
  • "I've only been a LL for 1.5 years. I searched all the websites I could find during that time. I've learned more from this site than any other. I no longer surf the net looking for info. I come here! I'll tell ya, there are none better than Mr. LL. So to all you neophytes...don't waste your time with the others. Stick with the best. Jeffrey...my hat is off to ya!"
    Dennis, VA.