You are smack dab in the middle of the absolute best rental market in a lifetime! This is a result of a little thing called “supply and demand.”
No longer can folks fog a mirror and get approved for a loan to buy a home. At the same time, lenders have slammed the door shut on investors.
Added in this recipe are all of the responsible homeowners who expected to sell their house, for whatever reason, to downsize or upsize, and have hit the wall. They can’t sell their house and they too have turned to landlording to help pay two house payments.
In most cities in America, real estate market values have tanked at both extremes of the market. The low income neighborhood houses can be purchased for a few coins, and the high end luxury homes have taken a bath.
Right in the middle are the first time homebuyer houses. Depending on your town, these prices have held their own when compared to the lower end and the higher end.
But… the rents have not dropped. Most of the rents have stayed the same. At least not yet, nor do I see it in the near future, the rents have not tanked in the lower end and first time homebuyer houses. (Rents on the high end luxury homes do not cash flow properly)
Here is the problem most folks face as landlords. They do not have a “system.” This is why folks buy franchises like McDonalds, Papa-Johns, hotels, and more. For a proven money making system.
Imagine what your landlording life would be like with June and Ward Cleaver as your tenants, (Leave It To Beaver’s Parents). Life would probably be pretty good. So you might say the secret to landlording is screening tenants. Yes, this is true; however, this is only part of your answer.
Let’s make it simple. Think of the life cycle of a tenant. Everything from getting your rental unit ready to rent, and everything in between, and ending with the tenant move out process, hopefully years and years later.
Landlording from A to Z is no different than a big strong chain. The chain is only as strong as the weakest link. One weak link in your chain and it will BREAK!
Every link must be rock solid and strong. Such things as advertising, marketing, making your rentals rent ready and low maintenance, screening tenants, training tenants, move in process, office operations, repairs and maintenance, and move out process. Every step is a link in your chain. Your life is better with a very strong chain.
Now you have the opportunity to build yourself the strongest landlording chain ever! Bring your big notebook and two sharp crayons, ink pens, or markers as you will be taking pages and pages of notes in the special training seminar.
“Learning from Mike Butler is like trying to take a drink from a fire hydrant running wide open!”
To Your Continued $uccess!
. . .by the way, I will be in Kansas City from September 8th through the 12th at MAREI. At the Tuesday Meeting I will be sharing my 10 Proven Keys to Consistently Getting Paid Over 100% of Your Rents Every Month and then I will be back on Saturday with a 2 Part Workshop . . How to Fill Your Vacant BEFORE they Move Out and How to Screen Your Tenants in 15 Minutes or Less. Visit the MAREI Calendar to Register for both events and to get all the Details, I will probably be chatting with Kim on a Webinar or two the last of August and the first part of September too!.