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Episode Info:

Property management is the glue that makes your investment stick together. But it’s a tough job.

GRE’s own John Collins has done management consulting on a project of 159 single-family rental homes.

Problems he encountered:

  • 30% pay rent late or not at all
  • Arson
  • Unassigned parking spaces
  • Domestic violence 
  • Abandoned car
  • Condensation
  • Pets and pests
  • “Jerry Springer Show” in leasing office
  • Unwanted boyfriend that wouldn’t leave
  • Syringes found in home
  • Daylight coming in through baseboard

 

Upgrading tenants from C-Class to B-Class.

Raising the rent attracted better tenants.

With just a $3 monthly rent increase per unit at a 6% cap rate, the project value increases $100,000. We break down the math.

What gets measured gets improved.

Maintenance issues occur with a property about quarterly.

Practicing “tactical empathy”. 

To contact John, e-mail info@getricheducation.com with “For John Collins” in the subject line.

__________________

Want more wealth?

1) Grab my FREE E-book and Newsletter at: GetRichEducation.com/Book

2) Your actionable turnkey real estate investing opportunity: GREturnkey.com

3) Read my best-selling paperback: getbook.at/7moneymyths

__________________

Resources mentioned:

Contact John Collins via e-mail:

info@getricheducation.com

Mortgage Loans:

RidgeLendingGroup.com

Turnkey Real Estate:

NoradaRealEstate.com

QRP:

TotalControlFinancial.com

JWB New Construction Turnkey:

NewConstructionTurnkey.com

Our Tampa Real Estate Field Trip:

RealEstateFieldTrip.com

Best Financial Education:

GetRichEducation.com

Find Properties:

GREturnkey.com

Follow us on Instagram:

@getricheducation

Keith’s personal Instagram:

@keithweinhold

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