Learn From My Landlord Mistakes!
We can’t start off knowing everything about being a landlord and sometimes what you don’t know can hurt you. I know I suffered through many landlord mistakes. It’s part of learning.
When you’re growing up and first start to walk you get bumps and bruises from falling down, but soon enough you master it and your parents can barely keep up to you. Then when you’re older, you get that first bike and soon enough you’re zipping up and down the streets, flying over bumps and jumps and showing off to your friends.
Well, it’s a similar situation when you become a landlord. When you start off, there are opportunities for you to fall down, there are times you can injure your pride and your pocketbook and as an experienced landlord, I’ve done both.
Whether it’s being duped by a tenant for a couple month’s rent or its being deceived by partners who walked away with all the profits, I’ve been there. I’ve even had the economy rough me up, but during every incident, I’ve tried to take something away from it. I’ve tried to learn a lesson that I can apply to make my business stronger, to make my portfolio of properties more secure and to make sure I’m smarter for the experience.
My hope is that you too can learn from your lessons, and also from my lessons. That’s where the following video comes into play. It’s much longer than my normal short tips and I go a bit further into depth with examples of problems and mistakes I have run into during my tenure as a landlord.
As you can tell by my attire it’s even more casual than normal, so I hope you enjoy it and find it helpful. As always, I appreciate any feedback you have for me. I have several other videos recorded, I just need to make some time to edit them and get them uploaded, so watch for more coming in the near future.
As I mentioned previously, I want to get to around 20 videos and see how the overall response is, so if you like them and find them helpful, let me know. With that, hope you enjoy the video!
One more thing! If you know any other landlords, could you please let them know about this site? Hopefully it can help them too!
Your a champion! This makes it seem so much more reasonable, with the business attitude and simple tips to follow! Thankyou so much
Dear Bill
I love all the vids you do for us on here, can’t tell you how thankful I am.
Lorie Russe;;
Thank you. Your videos are always informative and useful.
Thanks for the feedback Satish, glad you enjoy them and there are soem more to come!
Bill
Great job! Love the videos. You can never know to much and many times your videos have reminded me of things I’ve forgotten about.
Thanks so much
Cheers
Thanks for the feedback James. Your comment is so true!
The more I reflect back on the things I learned, the more simple little tactics to make my life easier I see. After a while they become second nature and you don’t realize how important they are or if you don’t use them often enough, they simply fade away until something triggers it!
Here’s a simple example, when trying to determine if the property you have will make a good rental, one of the first questions we ask ourselves is “Where will the big screen fit?”.
This tends to be a huge priority for renters. They don’t have enough money to buy, but often have more than enough to purchase (or use rent to own) big screen TV’s, big stereo’s and many other big ticket consumer items. If the property we are considering doesn’t have space for a big screen it drastically cuts down the number of potential renters, so we pass and move onto the next one.
Hope you enjoyed that tip!
Bill
Excellent videos, I have been learning a lot from your experience. Please continue to send these tips to my email.
Thanks.
Thanks Inder,
I really appreciate your feedback.
Bill