222: Critical Mistakes To Avoid With Properties And Tenants
Critical Mistakes To Avoid With Properties And Tenants
Learn how to reduce vacancy and turnover cost in your property. Nationally, the rental vacancy rate is 7 to 8%. If you increase occupancy from 90% to 94%, that’s just 4%. But this could boost your CASH FLOW 20%. Increase occupancy by avoiding properties with functional obsolescence. Avoid high turnover cost by owning 1,500 sf single-family homes, not 2,800 sf homes. Learn more about investing in northwest Indiana’s 1% rent-to-value ratio turnkey property at www.GetRichEducation.com/Chicago. Learn how to fit the property to the tenant. Find the best questions to ask both turnkey sellers and property managers.
Want more wealth? 1) Grab my free newsletter at: GetRichEducation.com 2) For actionable turnkey real estate investing opportunities: GREturnkey.com 3) Read my new, best-selling book: GetRichEducation.com/Book Listen to this week’s show and learn:
02:52 How to find area vacancy rates.
04:01 How to reduce vacancy with your lease agreement.
05:18 Importance of occupancy.
09:45 How to start right.
10:50 Avoiding functional obsolescence.
13:42 Avoiding larger SFHs.
18:18 Remodeling trends.
20:45 Handling late rent payments.
22:30 Tenant-property fit.
26:22 Best questions to ask a turnkey seller.
28:56 How to interview a Property Manager.
35:16 Geographic arbitrage in northwest Indiana, “Chicagoland”.