Landlord Resources For Landlords
Are you a new landlord? A reluctant landlord? Or perhaps just an accidental landlord? Starting out investing in Real Estate or worse being thrown into the position of being a landlord can be rather eye opening.
Often new landlords get lulled into the business by it’s apparent simplicity. People new to Real Estate often think it’s just collecting rent and reaping profits.
Trust me, it’s not that easy!
After being in the business of being a landlord (note I said business!), for over two decades I’ve learned a lot. Some of the lessons I learned have been rather painful and others rather costly, but I consider each of those lessons worth it as they’ve taught me to adapt so as to avoid repeating those landlord lessons.
Some of those lessons I share here on the site in free articles and through my free video series (Welcome to The Educated Landlord Video Training Series). Others that are more in-depth and detailed are available through my paid guides and paid online courses (Landlord Training and Landlord Education Guides).
No matter where you start, or whichever you prefer I’m sure you’ll find something of value.
Tenants – They Make Or Break A Landlord!
Getting stuck with a bad tenant is the worst nightmare a landlord can find themselves stuck in. It can lead to
- loss of rental income
- property damage
- out of pocket expenses (lawyers, bailiffs, etc)
- lost personal time (perhaps the most important!)
- and much more
That’s why I created my course on How To Screen Tenants Like an Educated Landlord
I’ve had hundreds of landlords take this course and it’s helped them avoid getting stuck with bad tenants, taught them the importance of having a consistent and thorough screening process and shown them exactly what they need to do to keep getting the best possible tenants.
I teach you
- what questions you need to ask and how to ask them
- strategies to properly check references and avoid scammers
- how and where you can perform credit checks, plus how to read them
- and even what to say to tenants you don’t choose to avoid getting in trouble
Originally when I first released this course I charged over $100 for it and landlords were telling me it was worth ten times that if not more. One bad tenant can easily cost multiple months worth of rent, avoiding that bad tenant can prevent that loss before it even happens! The challenge is by the time new landlords find out the cost of a bad tenant it’s too late.
At $100 the cost seemed to scare too many landlords away from getting the incredibly important information they needed to have. So I dropped the price even lower! Suddenly that barrier to entry to get educated was removed and I was able to help even more landlords get educated on the proper way to screen tenants and avoid potential bad eggs.
But Bill, if it’s so important to help landlords learn this why charge at all?
Well, for two reasons.
First is the selfish one, I have a real cost to provide this information. I have to pay for my videos, my hosting, my websites and the equipment and software to put all of this together and while I could subsidize this myself, it makes me quite the hypocrite when I constantly tell landlords to treat their landlording like a business and I don’t do the same with this.
Second is for you. How many times have you downloaded or picked something up for free that you put in a drawer or stored in a folder on your computer to look at “later”? Only to either completely forget about it or simply never bother looking at. When I first started in Real Estate I had folders of free information that I ignored, but anything I paid for I made sure to read or go through not just once but multiple times because it actually had value. Simply put, when you pay for it, even if it’s a nominal amount it has a lot more relevance and people tend to want their money’s worth.
So I jam packed it with relevant helpful, educational information I learned along the way to ensure you got your money’s worth and more!
It’s crazy when I think about it, but I’m sharing the techniques and strategies I learned that have helped me place over 1,500 of my own tenants and avoid thousands of bad tenants over the last several decades. Strategies and techniques that have cost me thousands of dollars paid to the school of hard knocks and trial and error and that you’re getting for a fraction of the cost and none of the headaches!
If you’re serious about being a landlord and if you want to learn the proper systems to help you find the best possible tenants, you need this course.
It goes beyond just screening, I even show you how to write your ads to attract more qualified applicants which can save you weeks and months of vacancy time, what’s that worth to you?
To find out more, or to get started, follow this link and start getting educated today
How To Screen Tenants Like an Educated Landlord
Once you have purchased this course you can go through it immediately (which I recommend), then come back whenever you have a vacancy to refresh your memory, download the question sheets or bonus information or review any of the information to keep you on top of your landlord game. So take advantage of this special pricing before it’s gone!
Helping Landlords Learn The Rental Business
Again that word business, obviously it’s time to explain why I call it a business and this is lesson one! The first thing I try to explain to new landlords is they have to treat landlording as a business.
Landlords who don’t treat their rental properties as a business often make painful and expensive mistakes that real business owners don’t.
By treating your operation as a bonafide business it’s easier to take the emotions out of it and this was one of my first lessons as a landlord. You see, I had to evict one of my very first tenants, because I let emotions rule my decisions rather than following business rules. Worse yet, I evicted them just before Christmas. Aren’t I a Grinch?
How I Screwed Up
So where exactly did I go wrong? Oh where should I begin!
First off, when we let these tenants in, we felt bad for them as they had a really sad story. They were having problems finding a place, they had young kids and the mom was doing part time sewing work to help them get by. Life was tough for them and we could help them out.
How can you not want to help? We’ve since learned having systems and processes we follow help us make business decisions and not expensive heart felt decisions.
Second, we didn’t do all of our diligence on them before they moved in. If we would have called all their references, checked all of their details and looked into their history a bit more we would have found out why they were having problems finding places to live.
Screening Tenants property is probably the most important skill new landlords have to master. That’s why I created a comprehensive course that walks landlords through the entire process of screening, and I mean entire! We go over how to write an ad to attract the right tenants, it gives you the questions you need to ask prospective tenants before they even see your property, it explains how to properly check references and how to avoid fake references, it also teaches you where to get credit reports and how to read them, plus much more. To learn these skills you can find the course here, How To Screen Tenants Like an Educated Landlord.
Third, we didn’t take immediate action when they missed a payment in October. We tried to help them because of the issues they previously had. Fast forward to December and they ended up with three months of free rent at my expense. Never mind the week over Christmas it took me to repaint the entire suite, to repair the damages and to replace everything that was broken (they only moved in during the summer!).
If we had taken action immediately I wouldn’t have fallen into what I call the Eviction Spiral. It’s something all landlords should avoid. Here’s a video to help you avoid it, Avoiding The Eviction Spiral.
Helpful Landlord Tips
But landlording doesn’t just end with avoiding the eviction spiral. That’s why you’ll find more articles, videos and courses throughout the site to help make landlording easy for you.
From dealing with tenants to the business of managing your rental property , rental bookkeeping tips and even renovation tips to maximize your rental property, it’s all here.
I tackle common questions such as how to do rent increase letters, how you can use garage spaces for rent separately from the property itself and I even explain rooming and boarding houses.
To help even more I’ve taken 5 of my best and most useful tips and put them into a series of emails to help you succeed in this landlord business. If you’re looking for an edge these emails will be a great start to help you become an Educated Landlord!
So, if you’d like to start making your landlording easy, sign up below: