Archive for the ‘Fix em Up Rent em Out’ Category

7 Book Promotion Tips by Radio Host Bob Schmidt

Sunday, August 11th, 2013

 

Bob Schmidt, Radio Host “Extraordinaire”

I was interviewed last Tuesday about my book, Turn Your Home into a Rental House, by Bob Schmidt of WLFN 1490 AM, Onalaska, WI.

Bob is one of my favorite radio show hosts. He asks good questions, he laughs at my little jokes, and he keeps the whole interview light hearted and fun. Here is a link to that interview (my interview begins at the 16:50 minute mark.)

I was also on his show in 2009 to promote, Fix em Up, Rent em Out. That was one of my very first radio interviews. After the show I called Bob to ask him if he had any advice for me on how to promote my book.

In my “radio interview notebook” I still have the written notes of what he told me. Here they are, verbatim.

Bob Schmidt Book Promo Advice

1.) To book guest appearances call the radio show after hosts are off the air, and talk to the producer or the host. They  don’t respond to email. They want to hear your voice.

2.) Tell them you are the author of a book and succinctly describe “the hook,” or how his/her listeners will benefit from you being on the show.

3.) Make sure you get the host/producer name correct. They are very egotistical and will be insulted if you get it wrong.

4.) During the interview be entertaining and provide helpful information.

5.) Call local TV producers, say I am a local author, and I am fixing up houses. They can film the process.

6.) Contact newspaper home sections.

7.) Fix your website. Put a chapter from the book on it, or provide a prominent link to Amazon where they can get more information about your book.

Why I Like Radio

Radio has been an important component of my book promotion plan.

I use three different ways to reach people, like a three legged stool. One way is the internet, but believe it or not, not every is on the internet. A second way is by giving speeches to groups and organizations. The third way is by radio. It takes all three legs to hold up the stool.

Radio is great because radio shows have time they need to fill, and they guests are one way to do that. It’s fun to be interviewed and you can reach huge audiences from the comfort of your living room. In addition, when a host likes you they invite you back to their show.

Since I started doing radio shows in 2009, I have appeared on 50 shows (and 2 television shows). So far, I have sold 3,300 copies of my books.

To put things in perspective, my friend Joe Sabah has been on over 700 radio shows, and has sold 23,750 copies of his books.

As I like to say, Joe and I together have sold over 27,000 books.

 

Upcoming “Turn Your Home Into a Rental House ” Radio Interviews (most shows can be heard  on the internet)

Wednesday, August 14th, at 9:15 am (eastern), I’ll be on Dave Kelber’s show, WRNJ Radio, Hackettstown, NJ. http://wrnjradio.com (to listen live).

Watch this space for information on additional interviews.

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Will Rogers’ Secret of Seizing Opportunities

Wednesday, July 17th, 2013

“It was not so much that Will sought the new opening as that he never failed to seize it when it came his way.” — Betty Rogers 

It’s nice to think that we are captain’s of our own ship and masters of our own destiny. Who doesn’t want to like Captain James T. Kirk or Bill Gates?

In my own case, I know that the reason I became the person I am today is by, not so much bending life to my will, but more by taking what life handed me, and by being keenly alert when a new opportunity presented itself.

That’s the way Will Rogers found success.

As his wife Betty said in her biography of Will:

His whole career was the development and unfolding of a personality through the various vehicles that seemed to be constantly and almost miraculously presenting themselves. His comment on stage on the stage during his roping act was incidental at first, if not accidental. (Will never spoke during his Vaudeville rope trip act, except when he once made a mistake and the audience laughed at his funny excuse. From then on, he incorporated that comment, and gradually others, into his act.)

His writing came the same way. (Will wrote a regular Sunday feature for the New York Times that was syndicated throughout the U.S.) His entrance into the movies, too, was not of his own seeking  (he starred in 69 movies). But once started in these new fields, he made the most of each, giving to them the same enthusiasm and energy he had given to the rope (tricks) in the early days.

I added the comments in parentheses to the text.

Meander in the Direction that You Want to Go

I know I’ve probably said this before, at least in Fix em Up Rent em Out, but a good way to get started in real estate, particularly if your circumstances are such that it is impossible for you to start investing in real estate right away, is to just start by meandering in that direction, like a slow, gurgling stream.

You can program your mind to pay attention to anything related to real estate. Cut articles out of the newspaper, buy books at book sales, tale to friends and co-workers about it, watch for seminars and classes about real estate investing. Sometimes desire and knowledge can be acquired simply by observing someone else operating a successful business.

And, when the opportunity does present itself to get started, like Will Rogers, seize it!

 

Upcoming “Turn Your Home Into a Rental House ” Radio Interviews (most shows can be heard  on the internet)

Friday, July 19th, at 7:45 am (eastern time), I will be interviewed by Gary Sutton and Chris Tyler, at WSBA 910 AM  in York, PA.

Friday, July 19th, at 8:10 am, I’ll be on Dan Ramey’s show on WBEX 1490 AM, in Chillicothe, Ohio.

On Thursday, July 25th, at 7:10 a.m. (central time) I’ll be on Jeff Anderson’s show, KSDR 1480 AM, Watertown, South Dakota.

On Friday, July 26th, at 7:30 am (mountain time) I have an interview with David Gillian, KRSN 1490 AM, Los Alamos, NM.

Tuesday, August 6th, at 8:10 am (central time), I’ll be on Bob Schmidt’s show, WLFN 1490 AM, Onalaska, WI.

Watch this space for information on additional interviews.

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Strategic Use of Memos to Manage Tenants

Thursday, November 29th, 2012

Update on “Best Real Estate Investing Blog” Contest

The results are in for the Best Real Estate Investing Blog Contest, and while I did not win, I took the loss in stride, with a minimal of gratuitous moping and whining.

I want to express my heartfelt gratitude to all of you who voted for my blog. Thank you for your support!

Congratulations to Susan Lassiter-Lyons at The Investor Insights for winning the blog contest!

Memos and Tenants

A light, tender, sensitive touch is worth a tone of brawn.

–Peter Thompson

As I mentioned in an earlier post, when we hear our tenants humming “Stairway to Heaven” that’s a sign that they may be  they ready to move on.

However, my wife and I do everything in our power to keep them from ever even consider moving. We want them to stay forever! It’s the best way to keep our business operating smoothly and profitably.

In the rental house business, we use a light touch when communicating with tenants. A phone call is good when you need to quickly get in contact with your tenant, but if it’s not an urgent matter, our preferred means of communication with tenants is by sending them memos by regular mail.

Use the low-key approach

For example, if the tenant is not keeping up the yard work around their rental property, as agreed upon in the rental contract, we will write them a note in a calm and respectful manner identifying the problem. We may make a reference to the section of the contract that requires them to keep up the yard (but only if they are a repeat offender), and describe what needs to be performed to meet the terms of the agreement.

A phone call could easily put them in a defensive position, and turn into a heated conversation, which is the last thing we want. With a memo, the tone stays calm and the point gets made. And, we have a written record of what we have told them that we keep in the tenant’s file folder.

Keeping tenants informed

We keep our tenants informed about activities that we have planned for their property. We will usually call and let them know well ahead of time if we plan to do some preventative maintenance, on the roof, for example. If a plumber cancels an appointment, we’ll call them so they are not waiting around all afternoon for no reason. It’s really just practicing common courtesy.

As an example, here is a memo that I recently sent to two of  our best tenants:

MEMO

Date: November 5, 20xx
To: xxxx and xxxx
Location: 2551 N. Banyon Blvd.
Re: Yard work

 This is just a friendly reminder that the front yard looks like it might need a little maintenance. I noticed that the weeds were starting to take over the yard a little.

 If you could tidy it up a bit, I’d appreciate it. If you need a weed wacker just let me know. I’d be happy to loan you one.

 I’m very grateful to have you as tenants. You have been really great about taking caring of the property.

 If anything comes up where you need any help with repairs or anything else, please don’t hesitate to contact me.

 (If you have already done this yard clean up, please disregard this letter.)

With best regards,
Terry Sprouse
270-xxxx

 ——–


 

 

Vote for “Fix em Up Rent em Out” Blog!

Friday, November 23rd, 2012

Patrick Henry

Vote for Fix em Up Rent em Out!!

You may have heard that my blog, Fix em Up, Rent em Out has been nominated for Best Real Estate Investment Blog.

Don’t miss this opportunity to strike a blow for freedom of speech, mom, and apple pie by voting for my blog.

My blog also comes down firmly on the side of babies and puppies.

Click here to cast a vote in support of my blog.                                    (www.reiclub.com/blogcontest)

The fate of the free world is probably not hanging in the balance if you don’t vote.

But why take that chance?

The contest ends November 25th, so vote now!

Help me to make the world safe for babies and puppies to play together:

Click here to cast a vote in support of my blog.                                    (www.reiclub.com/blogcontest)

Here is a list of some of my favorite blog articles for the week:

 Booting Out Unlawful Tenants: Be A Man And Have Her Stay With You! at Financial Samurai

10 strange habits I have picked up living in the tropics at Reach Financial Independence

How Much Crazy Black Friday Shopping Do You Do? at Money Beagle

What’s In My Wallet at Evolving Personal Finance

How to Shop for the Holidays at Krantcents.

3 Steps Towards Retirement Planning at My Multiple Incomes.

Winter Commute Options at Leigh’s Financial Journey

Being Thankful For The Things We Have: My Heart-Stopping Experience at Untemplater.

Buy Whatever You Want On Black Friday… at Planting Our Pennies

Holiday Safety Tips for Landlords and Tenants at Louisville Gals

Frugal Friday: Posts That Ruled This Week, I Ate Too Much Turkey Edition at Frugal Rules

Conscience Spending: How to Buy Whatever You Want Without Guilt at Frugal Habits

Save Money this Christmas – How to Make Your Own Christmas Cards at WorkSaveLIve

Deals You Can’t Miss This Black Friday at Fearless Men

Killing Your Mortgage In 3 Easy Steps at Canadian Budget Binder

Leftover Turkey Recipe at Eyes on the Dollar

November 23 2012 Blog Update at Modest Money

Thanksgiving at IHeartBudgets

Is Your Family Time For Sale? at Blue Collar Workman

Thankful I’m Old(ish) at Any Shiny Thing

Toys ‘R Us Corporate Policy: Stealing?!? at Club Thrifty

Two Ways To Save Money This Holiday Season at Money Smart Guides

Click here to cast a vote in support of my blog.                                    (www.reiclub.com/blogcontest)

What Riles Me Up – How to be a great radio show guest

Wednesday, October 3rd, 2012

Yesterday, I participated in a telephone seminar on “how to be a good guest on radio shows.” I have been on many radio shows to promote my books, but I’m always looking for new ways to be a better guest, or perhaps more appropriately, a greater guest.

One point that the presenter mentioned really struck me. He said that radio shows prefer guests who have a strong opinion. They want you to be riled up about something.

Not gonna take it.

The presenter asked, “Why are you angry? What are you going to do about it? What makes you angry about your profession?”

I told the presenter, “I buy fixer upper houses in Arizona and turn them into rental properties, and I write books, but I’m not really angry about anything.”

He said, “Aren’t you angry about the economy, or the fact that a lot of Canadians are buying up foreclosed houses in Arizona?”

I said, “No way.

Let me entertain you, eh?

Sure, our Canadian friends have infiltrated the entertainment industry with singers, actors, and comedians practically indistinguishable from their American counterparts, but they don’t buy fixer upper houses, which is my gig; and the recession makes houses cheaper for me to buy.

But, I was angry when I had my work hours reduced during the 2001 recession. That forced me to change my way of thinking about what constituted economic security, and got me started on my fixer-upper house business. That’s also motivated me write my first book.

Looking back, I was wrong to be riled up at the recession. What I should have been riled up at was my own blindness and misplaced faith in something as ephemeral as a steady economy. I should have been riled up that I waited for a disaster to strike before I took action.

Maybe my approach should be that I am riled up about other people who don’t learn from their own painful experience, or from mine. Not that everyone should run out and buy fixer-upper houses, but everyone should  establish economic security, or carve out their niche, apart from, or in addition to, their 9-5 job.”

He replied, after a thoughtful pause, “maybe that’s it … people who never plan for a safety net.

This is the major problem we are seeing … if people prepared, they wouldn’t be so panicked.”

So that’s it.

Now I have something to be riled up about; to express my rightful indignation over.

Preparing for my next  radio interview

Watch out!

When I hit the radio waves to promote my next book I’ll come out swinging! Grrrr!

Weekly Blog Roundup

Additional recent blog articles that I liked:

How to make a vacant property look occupied at Landlord Investor

Amazing Entrepreneurs – Interview With Diane Conklin at Louisville Gals

5 Thoughts Women Wish Men Knew and Theodore Roosevelt at Fearless Men

5 Easy Methods to Save Money without Thinking at Frugal Habits

Greek Hummus Dip Recipe at Work Save Live  (mmmm)

PoP Balance Sheet – September 2012 at Planting Our Pennies

What Happens to Kids Who Were Bullied? at Blue Collar Workman (Are you looking at me?)

GRE Tips: Acing The GRE As A Middle Aged Person Long After College at Untemplater

Tax Implications Of Running A Blog at Modest Money

Why buying the most expensive motorcycle on Ebay saved me money at Reach Financial Independence

Too Old To Have This Much Crap at Any Shiny Thing

Rental Property Series: How Much Did it Cost at Eyes on the Dollar

Extra Income During the Holidays at Making Sense of Cents

 

Coming Soon!

How to Turn Your Home into a Rental House, Instead of Selling It

Dreams Still Come True

Friday, September 21st, 2012

Dreams come true: without that possibility, nature would not incite us to have them.” — John Updike

One of my favorite blog authors is Lynne Spreen at Any Shiny Thing. Her article “Our Dreams Persist” describes the long and winding road that she traveled to write and publish her book “Dakota Blues.” I admire her persistence in the face of many obstacles to hold tight to her dream and to finally see it come to fruition.

Reading her story of how she wrote her book reminded me of my own experiences.

I first determined to write a book when I was a Peace Corps Volunteer in Honduras in 1987. I didn’t have any idea, at that time, exactly what I wanted to write about. I just knew that I wanted to write a book that would be useful to others, and to hopefully inspire them along life’s way.

Time Marches On

It wasn’t until 15 years later, after starting my fixer upper and rental house business, that I began to put pen to paper (and fingers to computer keys) to begin writing my book. I thought that sharing my experiences with fixer upper houses would be that useful and inspiring book that I had imagined writing years earlier.

Four years later, through many iterations, and alternating periods of exhilaration and self doubt, “Fix em Up Rent em Out” was proudly rolled out on Amazon.com. Seeing my book finally published gave me a warm glow  that still shines inside me to this day.

The Seed Continues to Grow

What I find interesting, in both my experience and Lynne’s, is that once the seed of a good idea is planted, it grows inexorably and invisibly inside of us, until it eventually becomes reality. The fact that it takes years for the final completion of the dream makes it all the more satisfying.

Weekly Blog Roundup

Additional recent blog articles that I liked:

The Landlord Quick Fix at LandlordInvestor

21 Ways to Manage the Stuff that Sucks Up Your Time at Louisville Gals Real Estate

 Why is it Healthy to Change Bank Accounts? at Fearlessmen

Give your Family an Amazing Fall with these 8 (Frugal) Activities at Frugal Habits

Hording Gold at All Things Pondered

How to Save Money on Contacts and Eye Care at Work Save Live

How We Bought A $50K Duplex – Part 4 at plantingourpennies

Legal Battle Over a Sagging Balcony  at Blue Collar Worker

What Do You Do When You Don’t Know What You Want To Do With Your Life? at Untemplater

Auto Insurance Basics And Recommendations For Everyone at Financial Samurai

Household Budget Tips for the Upcoming Fall at My Money Design

Catering Your Blog To Your Readership at Modest Money

_____________________

Coming Soon!

How to Turn Your Home into a Rental House, Instead of Selling It

The 5 Rules on How to Lose Money and Get Your Rental Property Trashed by Tenants

Friday, August 10th, 2012

The Arizona Network of Real Estate invited me to give a presentation to their group about my book “Fix em Up Rent em Out.”

I thought the video might be available to the general public but it looks as though that’s not going to happen.

However, so that no one feels left out, I am going to provide  a summary of the key points that I hit during the presentation. As someone who was regularly picked last for teams in gym class, I’m sensitive to people feeling left out. Casting modesty to the wind, I am also including exclusive photos of the event.

So here are:

The 5 Rules on How to Lose Money and Get Your Rental Property Trashed by Tenants (based on an article by Andrew Stefanczyk)

1. Choose the Worst Possible Area

Location will determine the kinds of tenants you will attract, and how much rent you can fairly charge.

Do you want these bearded wonders as tenants?

The best approach is to identify target areas in your city where you would like to focus your purchases. I like to focus on “transition zones” (where there is a mixture of housing types) which are good for investors because we can purchase properties at lower prices, and there is high demand to live in these areas.

2. Put in the very best of things when fixing up  an investment property

Use new and expensive sinks, doors, refrigerators, light fixtures, etc. Never shop at stores that recycle construction supplies. Spare no  expense.

Of course, the problem is that tenants will not take care of our properties as well as we would,

Habitat Store

so we end up with many broken or worn out items. The better alternative is to shop at used building supply stores, and to purchase good, inexpensive, supplies for our rental houses. One such store is the Habitat for Humanity store.

3. Make sure you have absolutely no experience in make basic repairs

Not knowing how to change electrical outlets, unclog drains & toilets, and replace broken windows will cost quite a bit down the road.

The better way is to:

A. Learn as you go, and comply with EPA regulations

B. Take construction classes at junior college

C. Learn from handymen and contractors

D. Take the Zen approach to  house repair learn to do everything yourself

5. Utilize fix-up books, investing books, & YouTube to find answers on how to make house repairs

4. Do not screen your tenants

Being as uninformed as possible about who you rent to may be the best way to lose money as a landlord. Do not ask for or check references. Do not call previous landlords and ask questions like, did they pay rent on time? How was the condition of the house or apartment when they left? Did they ever disturb neighbors with loud music or shouting matches? How often would you have to make special trips for repairs? Being as uninformed as possible about whom you rent to will make a huge difference and will increase the chances that you will get tenants that will trash your property and refuse to pay rent.

However, the better way is to:

A. Use a checklist for tenants. Decide what kind of tenant that you want ahead of time.

B. Look at their paycheck to verify income.

C. Check county records to see what illegal activities they’ve been up to.

D. Know the Fair Housing Act. Never select tenants based strictly on “race, color, national origin, religion, sex, familial status or handicap (disability).”

E. To find new tenants, use Craiglist, put up arrow signs, and host an “open house.”

5. Make sure you have not learned about your rights as a landlord

Be completely unfamiliar with the eviction process to guarantee long, drawn out disputes with tenants. Don’t keep up to date financial records or copies of correspondence with tenants. Most states provide online information about tenant and landlord rights so avoid reading these.

The better way is:

A. Get an authoritative legal guide like  “The Arizona Landlord Deskbook” by Carlton Cassler.

B.  Copy forms and letters from your legal book to send to tenants.

C. Comply with legal ways to deal with bad tenants.

D. Use memos to communicate with tenants so you have a record of correspondence.

E. Use a month to month lease instead of long-term lease to more easily scrape off bad tenants like barnacles.

F. Reward tenants for paying on time by discounting their rent $25.  

G. Send good tenants Target  gift cards for Xmas.

In Conclusion

Share Your Knowledge

“Each of us has cause to think with deep gratitude of those who have lighted the flame within us.”

–Albert Schweitzer

Carve Out Your Niche Update

My award-winning book on self-publishing, Carve Out Your Niche, is now available in Kindle format.

The Midwest Book Review called Carve Out Your Niche,

“Invaluable for anyone seeking to successfully write, publish, and market their own work.”

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Window Repair with #2 Son

Saturday, July 28th, 2012

.
Last Saturday I took my 10-year-old son along with me to repair a window in one of our rental houses. I like to take one of my boys along so they can learn a thing or two about how to repair things, as well as so they can see how I deal with tenants, and, mainly so that we spend some time together and have fun together. I always try to make it fun for them. For example, we went to ACE Hardware to get a new window cut, we looked at the stuff he likes to see, like BB guns and rockets, and, I bought him a bag of Boston Baked Beans.

It was really a big help to have #2 son along. He not only does what I ask him to do, unlike his teenage brother “Mr. Cool Guy”, but he also brings an enthusiastic spirit to the endeavor. One of the first things I have to do is to chip out the old putty from around the window. It’s my least favorite part of the job since it involves a lot of tedious work. After I explain what I am going to do, my son responds. “Can I do it?” I say “okay, go at it,” but I’m thinking, “Well, if you really insist!” What is old hat to me is new and exciting to him.

When we arrived back from ACE with the new window, I accidentally broke the window as I took it out of the back seat of my pick-up. I thought it might discourage my son to head back to ACE again to buy another window, but his response was, “I need a refill on the Boston Baked Beans anyway.” After that the broken glass incident became a running gag with comments like “is it time to break the window again?” and “let’s break the window again and get some more Boston Baked Beans.”

I must admit, it’s not nearly as entertaining when I have to do those little repair jobs all by myself.

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Required Roof Maintenance for Fixer Upper Houses

Monday, July 2nd, 2012

One of the jobs associated with operating a fixer upper and rental house business is to keep your rental properties in ship shape!

With the annual approach of summer rains, now is almost the last chance to make rental house roofs water proof before the watery onslaught. As someone who has a sworn aversion for arriving too early to parties, I subscribe to the time-tested philosophy of “better late than never.”

This morning I applied some black roofing cement on some areas on one of my townhouse roofs. I had located some cracks upon my inspection of it about 2 weeks ago.

The first photo shows the area in question, where I had previously applied a small amount of plastic roofing cement, but today I was going to put on some more and cover a broader area.

Before picture

The second photo shows the application of the plastic roofing cement. We apply one layer of cement, then put a white membrane on top of that, followed by a second layer of cement. The membrane allows for more cement to be applied.

Application of roofing cement

Below is the “after” photo. You can see that in addition to the corner, we hit a few other cracks with our roofing cement on the sides of theroof. Later, we’ll come back with white roofing paint to cover the black cement.

Completed repair

A good rental house

My wife and I purchased this 2 bed 2 bath townhouse in 1993 and lived in it for 10 years before moving on to a bigger house (to accomodate our growing family), and turning this property into a rental house in 2003.

Its been one of our best rental houses because it is in a “transition” zone (aka “opportunity zones”) where there is heavy demand for housing, and it is easy to care for because it is compact (1100 sq ft with small front and back yards). The townhouse perfect for single people or small families.

We originally purchased it for $53,000 and we charge $750/month (more if the tenants have pets).

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Funniest Tenant Screening Stories

Monday, June 4th, 2012

This guest post is from Endre Rex-Kiss, an online marketing, social media and human resource enthusiast. He currently represents FidelisAM, a US based agency providing employment and resident screening services. Follow his occasional guest blogging activities on Twitter.

Tenant screenings is the way to go if you want quality tenants and most landlords come across potential tenants who are either not what they claim to be or have serious behavioral problems. This article takes a look at the funniest screening stories landlords have had and their aftermaths. So sit down, relax or better still grab a cold bottle of beer to nurse while you go through the experiences below.

The Estranged Wife

A couple with no kids moved into a 4 bedroom duplex in the suburbs, the house and environment provided the perfect scenery for the couple but there was only one problem and it was that of meeting up with their mortgage payments. So they decided to put a room up for rent. The necessary adverts were created and finally a prospective client came knocking, he was the perfect tenant for he claimed to be single, had no pets, did not smoke, drink, do drugs and had a well-paying job. This obviously was too good to be true so the couple decided to hire an agent to conduct a little screening on him. After two days, the agent returned to tell the couple that they had been invited to have dinner with the previous landlord of their prospective tenant. On getting there, they were told that the tenant usually preys on sympathetic landlords and if you fall into his trap by renting a room to him, he would move in, behave for some days but a week later a woman who would claim to be his estranged wife would come visiting for some time and then finally move in with a cat. They would then proceed to co-habit like pigs, steal your property and when rent is due, disappear like thieves in the middle of the night.

Ghost Tenants

A couple responded to a landlord’s accommodation advert, they came to see the Landlord and professed that they loved the apartment and would be willing to rent it for the long term. The landlord was convinced that they were the perfect tenants so when the wife came calling the next day without her husband (due to the supposed fact that he works late) to ask for the keys to the apartment so she could look through it, the landlord duly obliged. A day passed, the lady did not return, two passed and she was still missing. The landlord quickly called his agent who conducted a quick search only to find out that the woman and her husband had already moved into the apartment. The police was called and the couple quickly evicted.

Dead beat Prospective Tenant

An agent once recommended a tenant who had the best recommendations ever; he had a good job, perfect credit and good relationships with his previous landlords. A meeting day was fixed and the prospective client shows up with a dead beat car and the attitude of someone who was one step ahead of the law. The landlord who needed to rent his facility out as soon as possible, overlooked this tell-tale signs and had agreed to lease the apartment to the tenant. The recommended signatures had already been traded and an upfront deposit had been made but as luck would have it, a police officer who was driving randomly through the neighborhood spotted the prospective tenant, felt his face was familiar and got down to trade some questions. Suddenly, the tenant bolted and a foot race began. The tenant was finally apprehended and the landlord discovered that the name, details and personal information given by his perfect tenant had nothing in common with the tenant.

The Thief

A couple came with an agent to view a landlords property, after going through it, they decided it was perfect and would be signing the necessary papers the following day but there was just one issue, they needed the house repainted. The landlord obliged, carried the necessary equipment to the house and started painting. He painted into the night and decided to spend the night there instead of returning home late. In the middle of the night, he began to hear strange noises at the side of the house, quickly he got up to investigate and on getting there, he found his prospective tenant trying to detach an A/C unit.

These stories show that conducting an in-depth screening which should include: former landlord credit checks, recommendations and past criminal activities are highly recommended.

Upcoming Speaking Engagement – Terry Sprouse (author of Fix em Up Rent em Out)

I will be making a presentation to the Arizona Network of Real Estate Investors. Mark your calendars.

Where:
Fidelity National Title, 6760 N. Oracle Road, Suite 100, Tucson, AZ

When:
June 7th, 2012

Time:
Meeting begins at 5:30 pm, presentation at 6:00 pm

Title: The 5 Rules on How to Lose Money & Get Your Rental Property Trashed by Tenants