By Robert Shemin
Bestselling writer and millionaire landlord Robert Shemin outlines an effective, step by step process for simplifying and organizing each element of the owner approach. as well as sharing real-life "war tales" from his decades as a landlord, Shemin additionally offers beneficial tricks and worthy types, guidelines, and systems. secrets and techniques of a Millionaire Landlord unearths: *Why such a lot landlords fail-and the right way to steer clear of making those errors *The top different types of estate to possess and deal with *Seven tricks to assist lease devices quicker and for more cash *Guerrilla advertising strategies that allure stable tenants *Six secrets and techniques of screening for nice tenants
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Additional info for Secrets of a Millionaire Landlord
I hesitated way too long. So I filed for eviction and showed up in court for the case: Shemin Superior Properties v. Grandma Smith. Grandma Smith wasn’t there. ” But when the judge called the names on the roster, an attractive young woman stood up. ” asked the judge. ” “Your Honor,” I started, “We have criminal activity. One person is named on the lease and 24 people are living in this house. ” Suddenly, Veronica jumped up and said, “Now, wait a minute, your Honor. ” “Well,” replied the judge. ” she said.
Make sure you (or your credit-checking service) verify employment for at least the past two years. If prospective tenants are selfemployed, be extra careful. Ask to see their 1099s, their latest tax returns, and recent bank statements to confirm they actually do have a business and an income. Beware—about 75 percent of start-up entrepreneurial businesses fail in less than a year. Screening Summary Four screening points: 1. Screen your applicants on the phone first. If they get past the first questions (“Where do you live now?
He tore up Bill’s place and they got into a fistfight two weeks ago. So I call Bill and say, “Well, Joe is thinking about moving into my place. I have an empty house he wants to move into this week. ” Bill thinks, “This is my chance to get rid of Joe,” and he says, “Oh, Joe is the greatest. He pays the rent on time; he’s a good guy. As a matter of fact, I am going to help him move. I have a pickup truck. ” In other words, Bill would say anything to get Joe out of his property. Dave was Joe’s landlord before Bill was.