Good morning [First Name], fellow Contractors, Landlords and Investors,
2. On our home page there’s a quick article on UP7,
I had a great time at the Ultimate Partnering 7 this past weekend. I’m in on 2 new ventures, another didn’t seem to have enough upside for the Manager, never mind the partners they’re looking for and the fourth was an out and out disaster. It’s important to stay in touch with your gut and NOT be so optimistic because something seems new and hot….
Also getting better organized and You’re not in Sales? You’re in Real Estate? Oh yea!
3. 3 Worst Landlording mistakes. My pal Gary Palini put together an article that highlights what our Junkyard Dog has been telling us to do and avoid problems.
Those who go into this business do not do so for philanthropy.
Let’s talk frankly; most landlording mistakes that drain an investor’s wallet can be attributed to his or her kindness or lack of adherence to policy. As the Irish say No good Deed goes Unpunished!
As the saying goes, “it’s just business, it’s nothing personal.”Having a pleasant acquaintance with the tenant is nice, but landlords should regard them as clients first and foremost. When a formal relationship is established, the following mistakes can be more easily avoided.
Mistake #1: Don’t be afraid to raise your rent.
Be fair but be competitive to ensure you are maximizing your investment.
Just be sure that your tenants are treated fairly.
Mistake #2: Impose late fees and follow through with charging.
The fact is that if a tenant paid late once and is charged a fee, they are more likely to pay on time moving forward.
Mistake #3: Letting vacancies drag out.
A month or two of vacancy not only will set you back thousands in income, but also leaves the property vulnerable to vandalism.
Mistakes 4-6 by the Junkyard Dog Tuesday, August 25, 2015 6:30 – 9:00pm SpringHill Suites Hotel, 43 Newbury Street, (Route 1 North just before Sonic carhop) Peabody, MA 01960 No charge to members, Only $25. for guests or $99/year to join! See you there, Mike