Archive
Explaining the four jobs of a tenant I’ve written to you many times about how we “hire” people to do the four jobs of a tenant. And I’ve said those fours jobs are the standard by which we choose our tenants and also how we decide to “fire” them when they’re not performing. And just to remind you, the four jobs are: 1. Take care of the house. 2. Pay on time. 3. Be comfortable to...
I felt like I was lied to Today I want to share something with you that is interwoven with real estate, but is really a message I hope that you’ll share with the younger people in your life. It all started when I stopped by a flip project this week and began talking with my lead man, Charles, about a recent article he had read about the shortage of skilled labor in our country. And...
Train, train and retrain your tenants I tend to be an open book, especially when I mess up, because it holds me accountable and helps me to learn from mistakes. So, with that fact in mind, I’m going to tell you about something I messed up on with a rental, and then, I’ll tell you how we remedied it. I got a little lax with doing inspections on our properties during 2020. I...
Do you take pride in your rentals? As I’ve told you before, I like doing service calls on our rentals. One of the big reasons for this is I get to see how our tenants are keeping the properties. We pride ourselves on good customer service, which includes a fast response time on service calls. So when something breaks, I’m often there within a few hours. As such, the tenants don’t...
Sitting at the laundromat with my bank account drained So, I learned some very valuable lessons this week at the laundromat. First, laundromat has an “O” in it which is contrary to how I say it — “laundry mat.” Next, the machines there have come a long way since I was kid. They have timers on the washers now, which is awesome, and the dryers are very efficient. I know they’re very...