Having passion and smarts is not all it takes to a Real Estate Investor. You need to know what to know and look at on each property. You also need to know who to rent your property to.
We will be going over quality of potential clients in this post. When you have a rental property and want to have a quality tenant you need to look at a few things. The first thing we look at is their credit and background. Calling their last landlord is also a great idea. You can verify that they have been making their payments in their last property. Ask the ex landlord if they would rent to them again.
I also look at some other important details. For example I like to see their vehicle. That is not a protected class and it can tell you a lot. For example a dirty car will usually tell you how clean and tidy they are. My experience has been that junky and dirty vehicles means your property will look the same with them in it. If they have a clean car then you will probably be able to expect that tenant to take care of your residence.
Another way is to sign the lease at their home. You can really get a up and close look at the home they are leaving. Just tell them you would like to meet them for coffee at their place to get all the documents signed. This will give you a great way to see how your property will look like after they leave.
The last one we will talk about is a lease option client. Optioning your property is easy and they have to put more money down. Usually option clients make a great tenant. Even if they don't exercise their option they will probably stay their longer then a regular rental tenant because they fell more like it their home. If they exercise their option you stand to make a great profit at the end of the lease.
So there you go a few tips I've learned over the last 26 years of dealing with tenants and rental properties. There are many more that you can do, but this is a great start. Brett Young www.Rooftopvideo.com
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