Easing Back In
Hey, if you haven’t noticed I’ve kind of slipped off the pace here this year. My goal has always been to get one new article out a week and one email tip out a week to everyone that’s registered.
Fortunately I’m fairly far ahead in my email list, although those that have been on it for a while may not have seen anything new in a while. That brings me to my current quandary.
I know so many of you are at different levels and different stages of being landlords. Some have been at it for a years and know quite a few of the tips and ideas I talk about already while on the other end of the spectrum many of you are new to the landlord business and a few are still just learning before you even take the plunge.
Knowing the broad differences in experience I’ve been a little unsure of what direction to head with the site. Do I continue to write and guide with basic tips for new landlords, or do I throw in some advanced steps and topics along the way?
That’s been the way I’ve tried to do it with the big focus on helpful beginner tips, but I want to hear from you to find out what you find most valuable.
I’ve been trying to ease back into this and I’ve already written half a dozen new articles, but I’m just not happy with where they were headed, hence my quandary.
So can you help ease my confusion and tell me what you’d like to see more of? Property management tips? Renovations? Dealing with tenants? You tell me?
I’m still working on a few other projects and courses in the background, right now one’s on writing ads for your rental property and another is how to run a rooming house, so if there are gaps in your knowledge as a landlord that you’d like to fill, here’s your soapbox. Leave me a comment in the section below and let’s see how I do!
As always, I appreciate and enjoy reading your article even at time it doesn’t apply to my current situation, I still continue to read them to refresh my memory and to reaffirm what I already learned from you in the past and surely as a point of reference should I encounter certain situation..I always verify from your article. That said, I look forward for many more future learning from this business.
Hey Angelito,
As always, I appreciate your feedback Angelito! As one of the landlords I’ve met in person, I’m glad I’ve been able to help you and point you in the right direction!
Bill
Hi Bill
As Far As The Rooming House Goes, I Surprised That Someone With Your Experience Would Consider That Lucrative. As A Full Time Businessman With A Background In Sales Marketing And Advertising I Feel That Demographics Dictates What Drives Any Business.My Wife And I Are looking To Rent To The 55 Plus Audience In Florida. In Our Younger Years We Rented To That Group And Found We Had Far Less Problems. We Would Be Looking To You For What Works In Where To Advertise.And How To Keep Things Managed. The Tips On Screening Were VERY Helpful.At Age 70 I A lot To Learn And Am A Good Listener.You Have Helped Us Very Much So Far
Hi Jim,
Thanks for your feedback. Surprisingly rooming houses can be extremely lucrative, but they have a trade off, time. As a full time Real Estate investor it fits, it allows you to grow your portfolio with properties that may not work as regular type rentals and it really ramps up cash flow, all this does take up extra time though. As a part time landlord, this may not be a good fit.
It sounds like you have a plan with your 55 plus demographic in place, but the caveat would be you will likely be looking at condos which come with a different set of headaches (HOA/condo fees, condo boards and condo rules), but can work incredibly well for people who understand it thoroughly.
I definitely have some ideas coming soon that will address advertising, so I hope you’ll be watching for that. Glad you’re finding the information like screening helpful Jim!
Bill
Bill,
We are in the process of releasing what will become our owner occupied 2 family home. Any special tips for owner occupied properties? Perhaps some “wish I would have done… before the tenants moved in” lessons learned. Other than that what you have been putting out so far has been great for this rookie landlord to be.
Hi Jeff,
Thanks for leaving me some feedback, we had emailed back and forth several months ago, so it’s great to see you continuing to move forward with your plan.
You’ve given me some more food for thought with your suggestions for upcoming articles! I already can see a top five list before the tenants get the keys coming to mind!
Thanks and as I say to everyone, I really appreciate all your comments and feedback. It gets lonely out on the internet and getting all the responses to posts like this really help to validate the work I put in!
Bill
Bill, you’ve been more helpful to me than you can imagine. Whatever articles you post there’s always some nuggets for me to use. Despite the difference in our locales, believe me the tenant issues are the same in kind though maybe not in degree.
I have been in business for three years and I started running by building against all advice from friends and family. There is always an advantage for serendipity; some of it is really expensive but I killed many sacred cows in the process and they’re not sacred any more! Like locating an office in the building for running and monitoring the building.
I would really appreciate more on management and financial analysis aspects.
Please keep on your wonderful articles. They’re my only source of confirmation and information.
Good luck.
Mohammad
Hi Mohammaed,
Thanks for the feedback, getting comments like this when I’m stuck in a rut really really really make my day and help me understand the need for me to keep moving forward.
Sometimes you have to run against your friends advice, especially if they’re not involved in the same area. The first several years we were landlords all we heard were horror stories from non-landlords. And yes there are horror stories, but so much of it can be avoided if you are better educated going in and know what you want.
I’ve had others inquire about financial analysis of properties as well, so that definitely needs to get on my list and I’ll have more management tips coming too!
Thanks for reaching out from Saudi Arabia!!
Bill
Hi Bill!
Yes, I did notice! I enjoy your articles and read most of them (some do not apply to our situation). I’d say keep doing what you are doing! I think a few more articles on tenant issues, i.e. using social media to check up on them, what to do if they obviously do not respect your house, pet deposits (how much?)…I would like to see something on rent-to-own situations as this is becoming more popular.
Anyway, great job!!
It’s nice to be noticed! Especially when you’re absent!!
Thanks Kelly, good ideas for some future pieces thanks.
Bill