222: Critical Mistakes To Avoid With Properties And Tenants
Get Rich Education
Keith Weinhold
4.3 • 602 Ratings
🗓️ 7 January 2019
⏱️ 43 minutes
🧾️ Download transcript
Summary
#222: Learn how to reduce vacancy and turnover cost in your property.
Nationally, the rental vacancy rate is between 7% and 8%.
If you increase occupancy from 90% up 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.
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1) Grab my FREE E-book and Newsletter at: GetRichEducation.com/Book
2) Actionable turnkey real estate investing opportunity: GREturnkey.com
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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”.
Resources mentioned:
Connect with provider: GetRichEducation.com/Chicago
Mortgage Loans: RidgeLendingGroup.com
Cash Flow Banking: ProducersWealth.com
Turnkey RE: NoradaRealEstate.com
QRP: TotalControlFinancial.com
Find Properties: GREturnkey.com
Transcript
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| 0:00.0 | Welcome to Get Rich Education. I'm your host, Keith Weinhold. Avoiding mistakes in your |
| 0:06.0 | properties operations is often your difference between profitability and cash flow zero. We're |
| 0:12.3 | talking about reducing your dreaded vacancy and turnover costs and avoiding income properties |
| 0:17.1 | with functional obsolescence altogether today on Get Rich Education. |
| 0:24.9 | MC Lobbcher is the host of the Cashflow Ninja podcast and president of producers' wealth. |
| 0:30.3 | He is on a mission to help you achieve financial independence and freedom as soon as possible. |
| 0:35.9 | He achieves this by integrating the infinite banking concept |
| 0:38.8 | with real estate investments to increase their returns and recapture cash flow that you are |
| 0:43.8 | not even aware of that you're losing. MC shares the number one strategy of investors in his |
| 0:49.0 | holistic wealth creation course at your own banking system.com. |
| 0:59.1 | Would you like to know the easiest way to create wealth and passive income with real estate? This is Marco Santorelli with Norata Real Estate Investments. Now you can access the best |
| 1:04.6 | deals without the stress or hassle of having to find, renovate, or manage those properties. |
| 1:09.4 | We save you time by providing you with |
| 1:11.0 | passive income |
| 1:11.7 | investment |
| 1:12.1 | properties in some of the best U.S. markets. Learn more by downloading your free copy of the ultimate guide to passive real estate investing. There's no obligation and nothing to buy. Simply visit passive real estate guide dot com and get your free copy today. That's passive real estate guide.com. |
| 1:30.7 | Get Rich Education is brought to you by Ridge Lending Group, producers, wealth, LaRata |
| 1:34.9 | Real Estate, and Total Control Financial. |
| 1:39.8 | You're listening to the show that has created more financial freedom than nearly any show in the world. |
| 1:47.1 | This is Get Rich Education. |
| 2:19.7 | Welcome to GRE. This is that slice of your life where rather than following money, invest in the best real estate markets and make cash flowing income streams instead follow you. Hi, I'm your host Keith Winehold. This is Get Education, episode 222. Now, as we talk about avoiding mistakes in your property's operations, including reducing your vacancy and turnover costs, |
| 2:25.3 | it really demonstrates how wide the spectrum of real estate investing is. Last week, |
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