I'd like to see a video of a BRRRR project, that talks about how/what you decide to fix or replace. For example: Did you decide to keep the existing doors?? why or why not?? This is what I am currently struggling with during my BRRRR project. I can't decide what need fixing/replacing and what doesn't, besides the obvious thing like broken lights, doors, etc... Replacing which items gives you the biggest bang for your buck??
Beard trimming tutorial? :) Great job on the podcast man! I'm in a city where homes are all 1M+, so I don't really see how I would work my way into doing rentals that would make any sort of sense. The US seems a lot different of a marketplace as well.
7 rules rental 1. It’s a Business, not a hobby. Be professional, be organized. Bookkeeping. 2. Great property up Front 3. Attract as many tenants as possible. Craigslist , Zillow, Facebook market etc 4. Screen for the best! Stable Income, job stability, credit above 600 hundred, positive rental history. 5. Be mindful. Do research on local laws 6. Sign a rock solid least! Rules and regulations. 7. Be firm but fair. Follow the rules and guidelines. For example, being late for rent. Do not let it slide!
I rented from my landlord for 3 years sadly they passed but with that said we were great friends in the end and at the end they left me the house I was renting from them. So y’all know the story I took care of them and had great times and not all land lords are slum lords.
Dear landlords and real estate investors, to grow your cash flow even more through rental properties, make sure to protect your assets by utilizing background checks to prospect tenants. You don't want your property to get seized by the government IF the tenant you have turned out to be a law violator involved in serious crimes such as drugs and money laundering while they are in your property. If you haven't heard about civil forfeiture, you might want to check it out and consider doing all precautionary measures to prove that the prospects are not involved in any illegal activities. Thanks for sharing this, BiggerPockets! Just want to share this unsolicited advice to our newbie landlords and rental property managers. Hope it helps!
I believe as landlords or property managers, we own the tenant and the community to do the right thing. Taking care of the property is our duty. In low income communities that is lacking tremendously. Sadly is where is needed the most.
@@RJVanEtten I agree. But this is not always the case. I know great tenants in low income communities who have careless landlords. I witness landlords that don't care about their property and don't value responsible tenants. They only care about the greens.
Here in Canada I try to only to rent to international students or families working to get PR or have work Visas or trying to get citizenship. They take care of the properties and and manage their finances and visas well as they don’t want to risk being deported. I also target refugees as most of them are trying to rebuild their lives from the ground up and will treat the property as if it’s their own home.
3 More tips! 1. Systemize so you are more proactive vs reactive. The stress can be crushing. 2. Run your run collection with ZERO emotions. This is a business not a hobby 3. Do not stop verifying handymen or contractor prices. It is not a matter of IF but WHEN they get comfortable and start charging you more.
It is true that as we grow the number of properties we own, we also need to maintain them properly. Property management must be considered as a business as the data matters a lot. Thank you for the advice.
Hi, I live in clovis california. I have a rental that my son was gonna use for airbnb however, he is not doing that anymore so iam going to rent the house. House is already furnished, should I rent it furnished or will it be better to rent it without any furniture???. Without furniture i will rent house for $2200 it's a 1100 home close to fresno state university fully remodel. If is furnished do I rented for more, or is not worth the hassle and if i do what do what do I put in lease in regards of taking care of furniture or if something breaks?? The teacher iam renting house to has two little kids and a dog, I thi k is a pit. Also should I include garner in price of yard? I don't trust renters in taking care of yard. I tought my younger son how to do yard so he can probably go do it and make some money??
I’m trying to put the bug in my ear, so to speak, about initiating a 1st time property to buy & rent. I’ve heard about Renters Warehouse to handle screening & to mend any repairs. Is this company a good tool for a new landlord? Also, I’m hearing about management software. How does that facilitate your rental operation? Thanks for the informative video. You’ve touched upon very important points. In the meantime, I’ll have to check out one of your publications. Thank you! 👍
Great Firm but Fair example/story! I actually had one tenant, started off great, and then about month 3 he was late on his payments for 3 months straight! I asked my property manager to see what was up, and if this was a red flag. Turns out he was a small business owner, and his checks weren't clearing until 4-7 days after the rent due date. As soon as I heard that, we talked, amended the rental agreement so that he was paying rent around the 10th instead of the 1st... and we never had an issue again for over 2 years! Anyone out there have college rental experience? Currently have a vacancy and I am afraid I may have missed my prime window to get that unit filled... EEEK!!! =(
I just want to know when I hire a property manager to take care of my property how they will get rent collected then get the rent to me or do they or do I or or or
No. You'll never get anyone to look at the property if they have to pay up front. View the property, fill out an application, then background checks. Buy the book Brandon mentions. For $20, it will answer more questions than you ever thought you had.
Would love to see a "day in the life of" video or do a series on the purchase of an actual property. From direct mail, internet shopping, inspection, running numbers, purchase, rehab, rent/sale. It would be very helpful to see how you or someone at BP does a deal from start to finish.
Great advice. I've found that working with a tenant is almost like training a dog. But it has worked out (I only have one rental property) with the tenant paying rent on time and on his 3rd year lease. I have bumped up the rent each year by 2% (market rent). He texts me about needed repairs which I take care of.
Great video on this topic! Property management can be tough but enjoyable. I’d like to go into the Air B&B side of it but possibly rent a few properties out as well.
I have a question . Numerous individuals in my apartment building were caught on camera breaking into a couple different apartment buildings inside the building . I was never notified by the landlord of this happening and then my apartment got broken into . During the coronavirus pandemic they say they can’t evict anyone but is the landlord responsible for notifying me of such still even during a pandemic ? Does that violate any safety standards . Do I have any case or any such against them
Thank you for your consistently great info! Can you please share your thoughts on property management software? Especially DoorLoop, Rentigo, and PropertyMatrix? Would really appreciate your input.
Remember to save up and get an FHA loan if you dont have enough for a big down payment.. but ideally you have to have a credit score of 600 or more.. good luck
Hi, Question: I would like to provide landlords an interface with messages and accounting report (case of short term rental). Any products already existing ? Thanks
Tell you what my number one rule the trumps every other rule I only rent month to month I tried to entice people to stay....... if I got a bad person no ifs ands buts but 30 days goodbye..... and I've been shooting from the hip running from the seat of my pants with this last rule always go to see where your prospective tenant is living now..... cuz that's how your property's going to look in 3 to 6 months.....
I always ask them how many in your family. There's a reason for that. If they have 8 in their family, the City itself wouldn't let them rent my 2 bedroom house. Evan if they sued me, they would never be able to prove in a court that it was because of that particular thing that made me not rent to them.
You get a 👍👍 thumbs up Sir ! Thank you for the advise ! Creating a reliable resource of income / revenue, that will always come in and you hardly have to do much ! Other then manage it and keep order ! Sounds awesome !
Glad you enjoyed! We've got just about every piece of content you could need, and if they aren't here on UA-cam, you can always post in our forums for specifc questions and feedback from the community! - www.biggerpockets.com/forums
Asking how many kids someone has is actually important, and can help prevent an illegal lease. IIRC, in Florida there is a "2 heart-beat per Bedroom" law (infants* are exempt). With that said, I love your work and advice, thanks!
Great info! I heard another thing to watch out for from the landlord that owned the house next to us. They allowed their tenant to get out of lease because the tenant had friends that could honor the rest of the lease. This was a total disaster because their friends trashed the place and he had to do a lot of repair and replacement!
If someone wants out they will find a way. The real problem was probably he didn't check them out and do his due dillegence. Just assumed they'd be okay.
Can u talk about what is needed to have a Habitable place to rent. I was thinking of making small rooms like the one behind u or just big enough to fit a A Bed, stove, sink, table, microwave, refrigerator, bathroom & shower. I want to know if there are other things needed like a fire stinguisher, windows, AC/Heater 🤔
hang around section 8 folks see what the AVERAGE section 8 person is like... and even if thats not your tennant that's the neighrborhood. so know what youre biting into.
04:18 Unfortunately those rules will make you discriminate. I would try to rent to a white men. They are the one group who can’t complain about being discriminated in case of an eviction.
Its just too much hassle and if the new roommate turns out to be a bad tenant he or she could drive out the good tenant. Then you're stuck with a bad tenant.
I have an awesome million dollar secret to share !! I can make any American /European more rich Did you know $2000=1millions francs (Cameroon currency ) and it’s enough to get you a very big piece of land , same thing with Nigeria and most African countries . What I am saying is the European currency is very hard and I could use that to your advantage, some Europeans have understood this so they rush to my country “Cameroon ” to invest and make 150% profit You could own a house here (not rent) for just $2000 and put it out on rent and make triple of your income and many other investments Don’t even get me started with Gold , the villagers mine Gold over here I mean pure Gold and the white man just comes and give them some few dollars and go back to his country and make millions . Open your eyes and by doing so you create jobs for the poor citizens !!
What should our next video be?
Let us know below!
I'd like to see a video of a BRRRR project, that talks about how/what you decide to fix or replace. For example: Did you decide to keep the existing doors?? why or why not?? This is what I am currently struggling with during my BRRRR project. I can't decide what need fixing/replacing and what doesn't, besides the obvious thing like broken lights, doors, etc... Replacing which items gives you the biggest bang for your buck??
A step by step on how you run your BRRRR, literally buying a house and walking through everything
Beard trimming tutorial?
:)
Great job on the podcast man! I'm in a city where homes are all 1M+, so I don't really see how I would work my way into doing rentals that would make any sort of sense. The US seems a lot different of a marketplace as well.
renting section 8 housing
Best location to invest in.
7 rules rental
1. It’s a Business, not a hobby. Be professional, be organized. Bookkeeping.
2. Great property up Front
3. Attract as many tenants as possible. Craigslist , Zillow, Facebook market etc
4. Screen for the best! Stable Income, job stability, credit above 600 hundred, positive rental history.
5. Be mindful. Do research on local laws
6. Sign a rock solid least! Rules and regulations.
7. Be firm but fair. Follow the rules and guidelines. For example, being late for rent. Do not let it slide!
Youre doing the lords work with this comment
I rented from my landlord for 3 years sadly they passed but with that said we were great friends in the end and at the end they left me the house I was renting from them. So y’all know the story I took care of them and had great times and not all land lords are slum lords.
Dear landlords and real estate investors, to grow your cash flow even more through rental properties, make sure to protect your assets by utilizing background checks to prospect tenants. You don't want your property to get seized by the government IF the tenant you have turned out to be a law violator involved in serious crimes such as drugs and money laundering while they are in your property. If you haven't heard about civil forfeiture, you might want to check it out and consider doing all precautionary measures to prove that the prospects are not involved in any illegal activities.
Thanks for sharing this, BiggerPockets! Just want to share this unsolicited advice to our newbie landlords and rental property managers. Hope it helps!
I believe as landlords or property managers, we own the tenant and the community to do the right thing. Taking care of the property is our duty. In low income communities that is lacking tremendously. Sadly is where is needed the most.
I agree... wise words
Low income areas tend to have lower quality tenants and low quality landlords. Chicken or the egg?
Owe or own?
i small letter, im glad folks are getting offended but the meaning of two very different words with similar spelling.
@@RJVanEtten I agree. But this is not always the case. I know great tenants in low income communities who have careless landlords. I witness landlords that don't care about their property and don't value responsible tenants. They only care about the greens.
Solid trustworthy workers is absolutely key.
I have never found a tenant whose income is 3 times the rent.
Here in Canada I try to only to rent to international students or families working to get PR or have work
Visas or trying to get citizenship. They take care of the properties and and manage their finances and visas well as they don’t want to risk being deported. I also target refugees as most of them are trying to rebuild their lives from the ground up and will treat the property as if it’s their own home.
How do you find such people though?
Bp pro is the best value out there when you are just starting out and you need forms, lease agreements , and otber papwrwork.
Great info! I’m just starting out working with some professionals and looking forward to learning! Thanks
Wish they teach you this in school..
My mom been struggling to find a good tenant.. all pay late eventually and don't pay the last months
@@wynningteamnetwork thanks!
3 More tips!
1. Systemize so you are more proactive vs reactive. The stress can be crushing.
2. Run your run collection with ZERO emotions. This is a business not a hobby
3. Do not stop verifying handymen or contractor prices. It is not a matter of IF but WHEN they get comfortable and start charging you more.
It is true that as we grow the number of properties we own, we also need to maintain them properly. Property management must be considered as a business as the data matters a lot. Thank you for the advice.
Great feedback!
Hi, I live in clovis california. I have a rental that my son was gonna use for airbnb however, he is not doing that anymore so iam going to rent the house. House is already furnished, should I rent it furnished or will it be better to rent it without any furniture???.
Without furniture i will rent house for $2200 it's a 1100 home close to fresno state university fully remodel. If is furnished do I rented for more, or is not worth the hassle and if i do what do what do I put in lease in regards of taking care of furniture or if something breaks?? The teacher iam renting house to has two little kids and a dog, I thi k is a pit.
Also should I include garner in price of yard? I don't trust renters in taking care of yard. I tought my younger son how to do yard so he can probably go do it and make some money??
Great video that will help me so much when I invest in my first property later this year
Congratulations! Please give an update. How do you plan on raising money for the down-payment?
Awesome job!! Appreciate the effort made to edit and produce this video professionally while in a outdoor environment
Thank You for your Good Work
I’m trying to put the bug in my ear, so to speak, about initiating a 1st time property to buy & rent.
I’ve heard about Renters Warehouse to handle screening & to mend any repairs. Is this company a good tool for a new landlord?
Also, I’m hearing about management software. How does that facilitate your rental operation?
Thanks for the informative video. You’ve touched upon very important points. In the meantime, I’ll have to check out one of your publications. Thank you! 👍
I live in Texas and we are planning on buying a building in Austin. What would you recommend to put in a lease to make it ironclad..
Good stuff
Bought your managing book last week and rented your other book from the library lol
nice information.
at 6:53 happened to me, EXACTLY, while I was renting my car out. Different rental, same principles apply
The book is awesome
Great Firm but Fair example/story! I actually had one tenant, started off great, and then about month 3 he was late on his payments for 3 months straight! I asked my property manager to see what was up, and if this was a red flag. Turns out he was a small business owner, and his checks weren't clearing until 4-7 days after the rent due date. As soon as I heard that, we talked, amended the rental agreement so that he was paying rent around the 10th instead of the 1st... and we never had an issue again for over 2 years!
Anyone out there have college rental experience? Currently have a vacancy and I am afraid I may have missed my prime window to get that unit filled... EEEK!!! =(
I just want to know when I hire a property manager to take care of my property how they will get rent collected then get the rent to me or do they or do I or or or
Do you recommend screening possible tenants with credit reports, criminal background check, etc. before physically showing the property?
No. You'll never get anyone to look at the property if they have to pay up front. View the property, fill out an application, then background checks. Buy the book Brandon mentions. For $20, it will answer more questions than you ever thought you had.
This is very helpful 😊
Would love to see a "day in the life of" video or do a series on the purchase of an actual property. From direct mail, internet shopping, inspection, running numbers, purchase, rehab, rent/sale. It would be very helpful to see how you or someone at BP does a deal from start to finish.
Look at investfourmore I think he has what you are looking for
Great advice. I've found that working with a tenant is almost like training a dog. But it has worked out (I only have one rental property) with the tenant paying rent on time and on his 3rd year lease. I have bumped up the rent each year by 2% (market rent). He texts me about needed repairs which I take care of.
Thank you very informative
I sure admired that modesty near the end of how of a lessor can trip up a leasee.
Great video on this topic! Property management can be tough but enjoyable. I’d like to go into the Air B&B side of it but possibly rent a few properties out as well.
Sure if you want to clean used condoms off of your kitchen table, then Air B&B is a great option!
Dude I Love ultimate frisbee lol. Also love investing. (I’m the fastest guy on the field in UF btw)
Great video
Great episode!
GEEK.
I have a question . Numerous individuals in my apartment building were caught on camera breaking into a couple different apartment buildings inside the building . I was never notified by the landlord of this happening and then my apartment got broken into . During the coronavirus pandemic they say they can’t evict anyone but is the landlord responsible for notifying me of such still even during a pandemic ? Does that violate any safety standards . Do I have any case or any such against them
@BiggerPockets who made the beat for the outro to this video? That jawn is fire
I love you Brandon, thanks for being an awesome host.
This is GREAT! Thanks for the tips!
Thank you for your consistently great info! Can you please share your thoughts on property management software? Especially DoorLoop, Rentigo, and PropertyMatrix? Would really appreciate your input.
Are there any apps people rely on for helping to run the day to day?
I was using a property manager. I use Tellus App now.
Thank you! You actually offered real physical tips for managing property!!!!!!!!!!!!!!!!
Nice video, tips but how to implement any of those tips?
I would like to see a video on cold calling and direct mail marketing. Show us how to set everything up from start to finish.
I graduate college next year and I plan to start house hacking right away! Thanks for all the advice!
Great plan! Keep us updated on the journey :)
Remember to save up and get an FHA loan if you dont have enough for a big down payment.. but ideally you have to have a credit score of 600 or more.. good luck
Hi,
Question:
I would like to provide landlords an interface with messages and accounting report (case of short term rental).
Any products already existing ?
Thanks
Your videos are practical, informative
and educating,.thanks.. l would
be grateful to learn more from
you.
Thank you for this informative video!
Great tips!!!👍🏾
I can hear his mustache sifting air single file into his nose with those heavy inhales.
Tell you what my number one rule the trumps every other rule I only rent month to month I tried to entice people to stay....... if I got a bad person no ifs ands buts but 30 days goodbye..... and I've been shooting from the hip running from the seat of my pants with this last rule always go to see where your prospective tenant is living now..... cuz that's how your property's going to look in 3 to 6 months.....
Thanks for this stress relief video.
I would like to see a video on how to handle delinquent paying tenants
I always ask them how many in your family. There's a reason for that. If they have 8 in their family, the City itself wouldn't let them rent my 2 bedroom house. Evan if they sued me, they would never be able to prove in a court that it was because of that particular thing that made me not rent to them.
You get a 👍👍 thumbs up Sir !
Thank you for the advise !
Creating a reliable resource of income / revenue, that will always come in and you hardly have to do much !
Other then manage it and keep order !
Sounds awesome !
Great video 🙏🙌🏽❤️
What is the preferred management software for small landlords?
Good studf
You're the first video I've seen about real Estate investment that talks about the legal aspect and the responsibility of the landlord
Thanks
Those books were incredible like I liked the investing one but loved the management one
Those tips were clear and concise. New subscriber here... I plan to learn as much as possible from your channel
Glad you enjoyed! We've got just about every piece of content you could need, and if they aren't here on UA-cam, you can always post in our forums for specifc questions and feedback from the community! - www.biggerpockets.com/forums
What tools/websites can you use to help you screen tenants?
Great video. I appreciate your channel. 👏
Or county by county
great video particularly rule # 5 can't stress that enough
Thanks Brandon I just got your two books investing and managing and looking forward to the education🌞
Established experience, jaga hati pelbagai kaum
Asking how many kids someone has is actually important, and can help prevent an illegal lease. IIRC, in Florida there is a "2 heart-beat per Bedroom" law (infants* are exempt).
With that said, I love your work and advice, thanks!
I have found that the best way to safely get that info is to ask "What is the DOB of everyone who will be living on the premises"
Great info! I heard another thing to watch out for from the landlord that owned the house next to us. They allowed their tenant to get out of lease because the tenant had friends that could honor the rest of the lease. This was a total disaster because their friends trashed the place and he had to do a lot of repair and replacement!
If someone wants out they will find a way. The real problem was probably he didn't check them out and do his due dillegence. Just assumed they'd be okay.
Aeriol Nicols Exactly!!! He understood his mistake afterwards! ! 😢
I just did this but I did a full application process and collected deposit equal to 1 month’s rent from the sub-lessee.
ua-cam.com/video/VswBBaUNheg/v-deo.html
I am seeing a great decrease in tenants for my A class unit with average rent...wondering why!?
They're purchasing their own.
Can you fix your audio so we don’t have to hear your breathing. The cuts and exits are rough. Great info though. I’ll subscribe
Hahaha yeah the breathing is rough 🤣
The audio is compressed too hard and the gate on the audio needs to have a faster release and lower threshold so it can cut out the breaths
You can’t be serious
@@33larrybirds very serious. You don’t think constructive criticisms is good for content creators?
@@wakememckinney7126 I bet your alot of fun to be around lolz
Can u talk about what is needed to have a Habitable place to rent. I was thinking of making small rooms like the one behind u or just big enough to fit a A Bed, stove, sink, table, microwave, refrigerator, bathroom & shower. I want to know if there are other things needed like a fire stinguisher, windows, AC/Heater 🤔
would YOU live there?
How do you handle the appliances? Service contract or just replace them?
u make it sound so e-z
Spin Doctors
What if your house is not set up for someone with a disability?
Get rent paid and manage your real estate business
What do you think about section 8? Would it be OK to go with section 8 when starting with one residential rental.
hang around section 8 folks
see what the AVERAGE section 8 person is like... and even if thats not your tennant that's the neighrborhood. so know what youre biting into.
1:17 Rule number one
04:18 Unfortunately those rules will make you discriminate. I would try to rent to a white men. They are the one group who can’t complain about being discriminated in case of an eviction.
So good..
Please I want your email
Because I have a question?
Thank you so much
Rule number 8 don't allow a tenant to get a roommate no matter how great a tenant they have been.
POVadventure
Screen the roommate and increase rent price if they do???
Its just too much hassle and if the new roommate turns out to be a bad tenant he or she could drive out the good tenant. Then you're stuck with a bad tenant.
Audio is distracting...hearing you breathing
you need better mic
The camera work is annoying. At least buy a tripod
Great video…. But you talk too much
You have to own the home to rent the home.
Soft
I learnt nothing new
What the fuck is that noise every time you zoom in and out? Just don't.
Why does bro breathe so hard
The deep breaths in between thoughts/sentences almost makes the video unwatchable. Good content, bad video.
at 6:53 happened to me, EXACTLY, while I was renting my car out. Different rental, same principles apply
I have an awesome million dollar secret to share !! I can make any American /European more rich
Did you know $2000=1millions francs (Cameroon currency ) and it’s enough to get you a very big piece of land , same thing with Nigeria and most African countries . What I am saying is the European currency is very hard and I could use that to your advantage, some Europeans have understood this so they rush to my country “Cameroon ” to invest and make 150% profit
You could own a house here (not rent) for just $2000 and put it out on rent and make triple of your income and many other investments
Don’t even get me started with Gold , the villagers mine Gold over here I mean pure Gold and the white man just comes and give them some few dollars and go back to his country and make millions . Open your eyes and by doing so you create jobs for the poor citizens !!
at 6:53 happened to me, EXACTLY, while I was renting my car out. Different rental, same principles apply
at 6:53 happened to me, EXACTLY, while I was renting my car out. Different rental, same principles apply
at 6:53 happened to me, EXACTLY, while I was renting my car out. Different rental, same principles apply