380: Profitable Landlording in a Crisis with Mike Butler, Chris Clothier, and Dave Poeppelmeier

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 30 April 2020

⏱️ 107 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Feeling like you're in uncharted territory as a landlord? You're in good company! Today's show walks you through how to ethically and profitably manage rentals through the COVID-19 outbreak and beyond. Brandon and David sit down with Mike Butler, acclaimed author of Landlording on Autopilot; Chris Clothier, partner at REI Nation (formerly Memphis Invest); and Dave Poeppelmeier, owner of eight houses in Toledo, Ohio. You'll get a ton out of this panel discussion, including exact scripts for communicating with non-paying residents, strategies for connecting tenants to government resources, a discussion about "deferment" vs. "forbearance," and much more. Mike (500+ units), Chris (6,000+ turnkey units), and Dave (8 properties, mostly student rentals) are all in different markets and at different stages of their investing careers... so you're guaranteed to learn something you can apply in your business today. Enjoy this episode, jump on the BiggerPockets Forums to connect with fellow investors, and subscribe to this show in your favorite podcast app so you won't miss us next week! In This Episode We Cover: Mortgage forbearance vs. deferment for landlords What % of REI Nation's tenants paid April rent Establishing open lines of communication with tenants What tone to use in conversations about rent Why Dave proactively reached out to his renters Guiding tenants to government resources (unemployment, etc.) Creating contingency plans Mike's "Wendy's walk-up window" for rent payment How to look for better financing in low-interest-rate environments How to stay organized if you're getting government assistance for your business And SO much more! Links from the Show BiggerPockets Forums BiggerPockets Webinars BiggerPockets Bookstore BiggerPockets Podcast 224: Building a Process to Buy 17 Deals a Week with Chris Clothier Are Your Tenants Unable To Pay Rent Due To Coronavirus? Here's What To Do! BiggerPockets Podcast 234: Tenants, Evictions, & The Dark Side of No Money Down with Ryan Murdock BiggerPockets Bookstore Check the full show notes here: https://www.biggerpockets.com/show380 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the BiggerPockets Podcast Show 380.
0:04.0	There could be 10 different plans you have.
0:06.0	You've got the worst case scenario to the best case scenario and everything in between.
0:10.0	And if a resident does this, then I'm going to do this, and if they react this way, I need to do that.
0:14.9	I mean, you have time, but you have to spend time preparing.
0:20.3	You're listening to Bigger Pockets Radio, simplifying real estate for investors large and small
0:25.8	If you're here looking to learn about real estate investing without all the height
0:30.3	You're in the right place. Stay tuned and be sure to join the millions of others
0:35.0	who have benefited from BiggerPockets.com.
0:38.0	Your home for real estate investing online.
0:41.0	Hey, what's going on everyone is Brandonanny Turner host of the Bigger pockets real estate
0:46.3	podcast here with my favorite ex- wrestler did you ever wrestle in high school?
0:54.0	No, I was a basketball player.
0:56.0	Ex basketball player David Green.
0:58.0	What's up David Green?
0:59.0	There was actually a rivalry between wrestlers and basketball players
1:02.0	because we, the season was at the same time and we both wanted to use the gym
1:05.8	So that was like lightweight insulting what you just did was it like the
1:10.9	Yeah Westside story where like you guys would go out in the street and like
1:14.0	start snapping your fingers and like doing like. Yeah it looked more like the Michael Jackson
1:17.6	beat it video where like we were kind of holding hands but we also had a knife in the
1:21.2	other one and we were like circling and dancing
	...

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