The Most Landlord Friendly States - Episode 586
Investing in Real Estate with Clayton Morris | Investing for Beginners
Clayton Morris
4.1 • 1.1K Ratings
🗓️ 12 February 2020
⏱️ 20 minutes
🧾️ Download transcript
Summary
What is a landlord friendly state, and why does it matter? This is one of the main components you should consider before investing in real estate. Whether or not you invest in a landlord friendly state can make or break your investing experience!
On this episode of Investing in Real Estate, you're going to learn about the importance of investing in landlord friendly states. You'll hear which states are landlord friendly, and which states are not. Additionally, we are sharing our nightmare story of investing in a state that does not favor landlords.
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Transcript
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| 0:00.0 | Please, please, please, only invest in landlord-friendly states, right? Yes. Yes. I'm Clayton Morris. I'm Natalie Morris and this is the |
| 0:14.4 | Investing in Real Estate Show, a show where we help you build financial |
| 0:17.6 | intelligence and build financial freedom and we do it through buy and hold |
| 0:22.3 | real estate. |
| 0:23.3 | So we're going to talk about the power of buying properties, |
| 0:27.0 | investment properties in landlord-friendly states. |
| 0:29.5 | And we're going to also use this episode as an update, |
| 0:31.7 | because many of you have been asking for the |
| 0:33.1 | update on our nightmare tenant story. Now that story took place in a state that was |
| 0:38.5 | not landlord-friendly, right? What state was that? Right, it was in New Jersey. |
| 0:43.0 | We were sort of testing out a market that we thought was good because there are some solid jobs |
| 0:48.8 | in this area, there's some solid growth. |
| 0:51.8 | Military base. Yeah, it's not going to go away. |
| 0:54.4 | But it's a high-tax state, |
| 0:58.2 | and we don't have the right to evict tenants there |
| 1:01.1 | without using a lawyer because we own the properties in an LLC and that |
| 1:06.0 | does not happen fast. |
| 1:08.3 | We learned the hard way that that really sucks. |
| 1:12.1 | So we'll get to that. |
| 1:13.0 | We'll get to our update on this tenant because this is a story that's been going on for a little while here on the show. |
| 1:18.0 | So we'll kind of bring you up to date on that in a moment towards the end of the show. |
| 1:21.0 | Okay, but first of all, what is a landlord-friendly state? |
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