Planning for retirement I was just picking up properties along the way. Along with my normal retirement, this will be my normal retirement. Plus, I love to travel, so this is going to be my travel fund.
My good friend is a realtor. So as properties come up she is very aware, and she said "you mentioned about buying something?" and this property is coming up for sale - it's in great shape, and I was able to get the jump on it right away. In our area, housing is booming at the moment.
I was managing my properties manually and decided that "there has got to be an easier way", so I began looking at apps, and I know I downloaded at least five different ones. I basically culled each one as things didn't work in the way that we needed it to. I came across Landlord Studio and thought "this looks good"... because I can see a dashboard of where I am, send payments etc. I reached out about a support request and received a response instantly ("this is a first for software"). For them to come back so quick, I thought, yes this is a product I'm going to use long term.
Another thing I looked at was 'the last time the app was updated' on the iTunes app store... and their app is constantly being updated.
I'm finding more and more people are perfectly okay with paying rent late. I'm just like "what makes you think you can live on my income? I have to pay these bills", it just blows my mind that people think that way. So I think this is the biggest issue. Maintaining the property is not an issue, I have folks that come in when people move out. These things are easy, and I think it's cause my friend is a realtor so she has lots of contacts. I utilize this a lot.
I think the most important thing I guess is: people get into issues for whatever reason, you never know somebody's story, so if they come to me - I always have a listening ear. I want them to feel comfortable, I'm not going to be this tough stuff business person. So I think establishing a good business relationship is paramount. I'll tell them "if you need something, then call me, that's what I'm here for.
What're your thoughts? Were there any pros and cons that you would like to share with our Landlord Boss community? Leave a comment below - we would love to hear from you!