You know that famous quote about how the only two certainties in life are death and taxes?

Well the quote is usually attributed to Benjamin Franklin Franklin but I'm actually convinced he must have

written that well before his real estate investing career because every real estate investor knows

that the certainties in life include vacancies and tenant turnovers. Those are absolute

certainties. So in this video I'm sharing my six best tips for dealing with

vacancies in your rental properties. First let's quickly cover what a vacancy is and what to expect.

So in a perfect world, your rental property would be rented out 12 months a year every day,

right?

But unfortunately, that's not always the case. You might have a

vacancy for a few months after a tenant moves out or when you buy a new

property that's always going to happen. So here's what I want you to know

about vacancies. Number one, it's normal. Any business is going to have

its downfalls, and this is just one of them. If you owned a grocery store, you would expect to

occasionally have issues like loss of inventory.

Maybe one of the refrigerator units would go out and you lose your entire meat section.

My father owned a grocery store and that happened.

That's what happens. Equipment breaks, unhappy customers, it all happens. I want you to think of vacancies as a normal part of your business. Don't panic about it. It happens to every real estate investor who's out there.

Look, I get it. The nerves and the panic are to be expected, but if you're a new investor,

do you need to set these expectations early on to understand that this is going to be a part of the process. If you

understand that vacancies are all part of the process, then these nerves and

anxieties you experience will dissipate because it's going to happen.

Remember, you're not the only investor who's gone through this and it's going to be okay.

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