Bill Taylor Profile
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    LANDLORD PROFILE INTERVIEW:

    Name:
    Bill Taylor

    City:
    Pendleton

    State:
    Indiana

    Any Unique 'Local' Landlord Requirements?
    Not that I know of.

    Number of Rentals?
    140

    Years of Landlording Experience?
    20

    Hardest Job?
    Keeping up with late rents.

    Your Biggest Mistake?
    Giving problem tenants a chance to do right. I mostly regret it afterwards.

    New Landlord Advice?
    Keep on top of maintenance to maintain value to your units. If you let them go down (maintenance wise) you end up with a bunch of worthless properties.

    Favorite Type of Resident?
    97% of my tenants are my favorites. It is those other 3% that make your life challenging.

    Best Way to Find/Attract Residents?
    Newspaper advertising and offering referral bonuses to my current tenants.

    Favorite Application Question?
    Have you ever been evicted?

    One Way to Keep Good Residents?
    Keep their units in good shape and treat them as you would like to be treated.

    Favorite Rental Clause?
    The rent is discounted for on-time payments.

    Money Making Cash Flow Tip?
    Use a software program to keep up with accounting, it will help you increase your cash flow due to the fact you can keep up with your whole operation better.

    Money Saving Maintenance Tip?
    Use the same faucets all the time like Delta. You can keep parts with you and save time running to the hardware store to fix a small leak.

    How Do You Encourage On-Time Rents?
    Discounted rents for on time payment.

    How Have You Collected Past Due Rent?
    Once you get a judgement, work with the tenant and let them pay you smaller amounts if they will take a voluntary wage assigment directly from their paycheck. Once you get them started they won't miss it and you can pretty much count on it.

    Trick A Tenant Played On You?
    Which time?

    Favorite Real Estate Book?
    How To Wake Up The Financial Genious Inside You, by Mark O. Haroldson.

    What's Rewarding About Being A Landlord?
    Changing as the business changes. Now I have two sons that want to get into the business.

    How Has MRLANDLORD.COM helped you?
    Gave me some great ideas. Even though I have not used them all it stirs up your thinking.

 


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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.