Category Archives: Real Estate

Real Estate

Mr. Landlord Tips

MONTHLY MANAGEMENT TIPS FROM MRLANDLORD.COM
(Shared by landlords nationwide) THE BEST LANDLORDING ADVICE I’VE RECEIVED  10 rental property owners share what they believe is the single best piece of landlording advice that they have ever received. Here are their school of hard knocks words of wisdom:    1) Like Reagan said, “Trust but verify”.      2) Treat residents well!
3) Hang out with like-minded people. Ask to shadow a successful landlord in your area.    4) Don’t underestimate the actual cost of owning real estate! Many studies indicate total expenses including vacancy, etc. will average around 45% to 50% of gross income.    5) Compared to a bad resident, a vacancy is a delight. 
 
6) Put your rental criteria in writing. 
 
7) Figure out who you want to rent to and only buy/fix properties they will rent.    8) The landlord is in charge. The resident is not!    9) Make sure you have a fantastic lease that covers everything – Everything!

10) Five years from now YOU WILL BE the books you read, the audios you listen to, and the people you associate with. Wealth creation is between the ears. 

12 STEPS FOR ONE DAY TURNOVER      Many of you veterans out there may already know all of this, but just in case I wanted to share “the system” that has one landlord 3 for 3 of his last vacancies at a one day turn over.
 
Step 1: Communication with current residents. Make sure you touch base with resident 90 days out from their anniversary date about which anniversary gift they want. If I hear nothing by 60 days out, then we ask again or confirm their intent to move. Repeat this step 30 days out. Get their desire in writing, signed, and dated!   Step 2: Start advertising. I start putting my Craigslist & Zillow ad 30 days out, around the first of the month. Renew the post every 2 days or as often as allowed.   Step 3: Communicate my bonus program to the current residents. $100 if they bring me a qualified prospect who signs a lease (and pays!). Or $100 if I get someone with their assistance prior to their move out to pre-lease. This moving bonus is a thank you for them keeping the place nice enough to show and being accommodating to repeat showings, plus saying a positive word about the home or neighborhood. Yeah, my lease says they have to do it anyway for free BUT this encourages cooperation and they say nice things about me to the prospect too!   Step 4: Get a “anytime is fine” showing agreement with residents. Basically, anytime between X and Y times it’s okay for me to show the rental with 30 minutes notice ahead of time. Or get them to agree to show it for you when they’re home. Saves gas, saves time, and it’s less stress.   Step 5: While doing showings, make the handyman provide a fix-it list for repairs as soon as the old residents are in their last weeks before  moving out.
Step 6: One week out, line up your cleaning / maintenance / carpet-scrubbing crew(s). Coordinate so they aren’t stepping on each other to get it done the day resident moves out, if possible. If all else fails and its a fairly clean turnover, you can probably leave the maintenance for last unless there’s a major issue that affects habitability. The cleaning gal shows up in the morning, carpet scrubbers finish up in the evening.  The next day everything is dry and ready for new resident.   Step 7: Email the lease as an attachment to resident 3 days prior to signing to ensure they have ample time to review and ask questions. Remind them that you need the rent and deposit in certified funds (no personal checks, thank you) when you meet to sign the lease. No money, no keys, no signing anything.   Step 8: Day prior to lease begins. Make sure utilities are switched over effective the day prior to the first day of the lease. Call the power company or ask the resident to show you a receipt as proof of service.

Step 9: Day lease begins. Do walk through with residents. Note deficiencies and write down everything you agree to fix / repair / upgrade on a list that says: “Only these items will be fixed / repaired / upgraded. RESIDENT agrees landlord has not promised, verbally or in writing, to any other repairs, fixes or upgrades that are not listed. Premises are accepted in “as is” condition, unless otherwise noted on this sheet.”   Step 10a: Get money, sign lease. Give resident a run down of rules and procedures for maintenance requests and emergency contact information. Show them where the circuit breaker box is, water shut off, etc. Give each resident a copy of your business card (with you as property manager) with phone number, office hours and email address.   Step 10b: Hand over keys. (this is last for a reason, folks!) Step 11: Deposit money in your bank. Step 12: Go enjoy a cold beverage of your choice in celebration. Ah, another turn over complete!   Of course there will be some turn-overs that are more complex: eviction, slobs, damages, etc. This is meant as a basic blue print for an otherwise successful tenancy that is coming to a close. Add or subtract steps that you feel make the process smoother.

The tips in this column are shared by regular contributors to the popular MrLandlord.com Q&A forum, by real estate authors and by Jeffrey Taylor, Founder@Mrlandlord.com. To receive a free sample of Mr. Landlord newsletter, call 1-800-950-2250 or visit their informative Q&A Forum at LandlordingAdvice.com, where you can ask landlording questions and seek advice of other landlords 24 hours a day.

“Management tips provided by landlords on MrLandlord.com.
To receive a free Rental Owner newsletter, call 1-800-950-2250 or visit our
nationwide Q&A Forum, LandlordingAdvice.com, where you can ask landlording questions and seek the advice of other rental owners 24 hours a day.”
MrLandlord.com, All the Keys to Landlording Success, Box 64442, Virginia Beach, VA 23467
Real Estate

PHP -Professional Housing Provider

Come One, Come All!!
Come join us and learn the basics of real estate investing. We
cover flipping, landlording and most especially how to buy the
right way and not overspend.

We have prepared the classes to take in order to earn the
Professional Housing Provider designation developed by the
National Real Estate Investor Association.
Classes will be taught by experts in their fields and as a bonus
they are fellow AIA members and/or sponsors. (AIA members
get a discount)
So, come join your fellow investors and learn how to start
investing successfully!

PHP program – $1,150 full price
$ 950 for AIA members
For a married couple – one spouse pays 50%
For two business partners – one partner pays 75%

THE PROFESSIONAL HOUSING PROVIDER PROGRAM

Presented by AIA/ALREIA
Twenty classes will be offered of 3 hours each for a total program length
of 60 hours as required by the National REIA. Classes will meet on
Tuesdays and Thursdays from 6-9PM at the New Vocation Realty School
at 2017 Canyon Road Suite 45 Vestavia Hills, AL 35216. Classes will be
recorded in order to assist the students in completing the program.
TOPICS INCLUDE:
BUYING RIGHT
SELLING PROFITABLY
REHABBING
LANDLORDING
APPRAISAL
PURCHASING
NEGOTIATION
TAXES
INSURANCE
CONTRACTS/LEASES
MARKETING
FINANCING
FAIR HOUSING
INSPECTIONS
MANAGEMENT
FED & LOCAL REGS
ETHICS
&
15 HOURS OF STUDENT
CHOSEN ELECTIVES
Chuck Robertson has been teaching
Real Estate for several years and
coordinated the PHP program the last
time it was offered. He has been a real
estate appraiser for 19 years and got
his broker’s license in 2005. He
currently serves as President of the
Alabama Real Estate Educators
Association. Chuck has been a
member of AIA for over ten years.

To Signup, please contact...

Chuck Robertson, Realtor®
ABR®, AHWD®, CDPE®, CIAS®, CIPS®, CNHS®, Green®,
GRI®, MRP®, PHP®, RCC®, RSPS®, SFR®, SRES®
Alabama Worldwide Properties – Broker
Licensed Real Estate Instructor
PO Box 1324
Trussville, AL 35173
Cell    205-862-3381
Regal Realty LLC – Appraiser
AGA®
PO Box 1324
Trussville, AL 35173

 

Real Estate

Top 10 Investment Markets

Top 10 Investment Markets for Single-Family Rentals

 

By on Rentals

HousingWire recently reported the top 10 investment markets for single family rentals (SFR’s).  Using data from HomeUnion, the top 10 cities were:

  1. Charlotte-Concord-Gastonia, North Carolina-South Carolina
  2. Orlando-Kissimmee-Sanford, Florida
  3. Baltimore-Columbia-Towson, Maryland
  4. Cincinnati, Ohio-Kentucky-Indiana
  5. Jacksonville, Florida
  6. Birmingham-Hoover, Alabama
  7. Tampa-St. Petersburg-Clearwater, Florida
  8. Indianapolis-Carmel-Anderson, Indiana
  9. Milwaukee-Waukesha-West Allis, Wisconsin
  10. Nashville-Davidson-Murfreesboro-Franklin, Tennessee

Click here to read the full story.

From - www.realestateinvestingtoday.com
News-Info, Real Estate, Uncategorized

July 4 – Archie

Archie

JULY 4th 2014  ARCHIE PHILLIPS & DOYLE ROSSER founders of AIA Alabama Real Estate Investors Association 35 years ago in 1978, AIA members enjoyed Archies BBQ at his Lake in Columbiana today. See Archies and his wifes photo – he is 78 yrs. old and recovering from sickness.  These two individuals mean a lot to AIA and we thank them for all the work they have done on behalf of the association and the countless number of investors they have educated, mentored and coached to a better way of life through Real Estate Investing. Six County Commissioners, and Congress individuals showed up today to honor ARCHIE. Archie serves today as our Governmental Affairs Chairperson- he is by far our most politically connected person and influence! His son Bubba serves along side of him plus other individuals.