303: Do-It-Yourself Property Management
Get Rich Education
Keith Weinhold
4.3 • 602 Ratings
🗓️ 27 July 2020
⏱️ 43 minutes
🧾️ Download transcript
Summary
We compare do-it-yourself vs. professional property management.
New home price annual sales volume spiked in June. There's a scarce inventory of suburban SFHs.
The co-founder of Avail, Laurence Jankelow joins us. Avail.co streamlines life for DIY property managers.
Avail is free. It enables you to centralize your: rental listings & applications, tenant screening, credit / criminal / eviction reports, rent collection, maintenance tracking, and even rent price analysis.
Becoming a landlord is like becoming a parent. There's no certification course or degree required.
You cannot violate Fair Housing Laws. Giving one tenant a break - and not another - could violate Fair Housing Law.
Smart home technology often still does not exist for the most profitable long-term rentals.
Rent collections during the pandemic continue to be greater than most people anticipated.
Avail is best for landlords with 1-9 rental units.
There is a general minimum standard for what landlords must furnish to tenants. It's called an "Implied Warranty Of Habitability".
This includes: access to clean water, heat, electricity, sanitation, rodent-free, fire-safe, and meets local building codes.
Resources mentioned:
DIY Property Mgmt. Software:
New construction Florida income property:
Mortgage Loans:
QRPs: text "QRP" in ALL CAPS to 72000 or:
By texting "QRP" to 72000 and opting in, you will receive periodic marketing messages from eQRP Co. Message & data rates may apply. Reply "STOP" to cancel.
New Construction Turnkey Property:
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Transcript
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| 0:00.0 | Welcome to Get Rich Education. I'm your host Keith Winehold. Property management isn't always glamorous, but it is the glue that makes your real estate portfolio stick together and makes your monthly cash flow recur. Whether you're doing it yourself or you use a professional manager, what are the property management mistakes that you must avoid, and what are some important management techniques that you've |
| 0:21.4 | never thought about before and how can property management be made easier today on get rich education |
| 0:27.6 | fortunately for you congress has made it possible to get up to 200,000 dollars out of your current |
| 0:35.6 | 401k or tsp to invest in real estate or your own business, |
| 0:40.0 | and that's even if you're still working. |
| 0:42.0 | The thing is, you can get all this money tax-free. |
| 0:46.2 | The EQRP is your secret weapon. |
| 0:48.5 | With the CARES Act expiring soon, the EQRP company helps you unleash your retirement funds now. |
| 0:54.0 | Learn more and text message QRP in all-cap of letters to 72,000. |
| 1:02.5 | You're listening to the show that has created more financial freedom than nearly any show in the world. |
| 1:09.8 | This is Get Rich Education. |
| 1:25.4 | Welcome to GRE, from Warren, New Jersey to Warren, Michigan, and across 188 nations worldwide. |
| 1:31.3 | I'm Keith Weinhold. |
| 1:33.3 | This is GetRust Education. |
| 1:35.3 | It's remarkable how real estate investing spans the gamut from big picture to small scale. |
| 1:41.3 | Two weeks ago, economist Richard Duncan and I went macro, how the pandemic |
| 1:46.6 | will impact inflation and will there be a global depression? Last week, you got a big dose |
| 1:52.6 | of me and we really built your compelling why for real estate when I discussed the up to five |
| 1:59.5 | simultaneous ways that real estate pays you. This week, |
| 2:02.6 | we winnow down and go smaller yet, but this is highly actionable for you because we're |
| 2:07.8 | discussing how you can manage your properties more efficiently to save both your time and your |
| 2:13.4 | money. I'm coming to you from the Queen City and New York State's second most populated city today here. |
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