Property Management Tips in 2020-[(R) Rent of the BRRRR Method]
youtu.be
The video discusses various strategies for advertising rental properties and maximizing cash flow. Popular options include Zillow, Tenant Turner, ShowMojo, and Facebook Marketplace. It's important to utilize technology and post high-quality photos to attract potential tenants. Listing with a local real estate agent is another option, especially for higher-priced rentals. To determine rental prices, research similar properties in the neighborhood, school district, and within a half-mile radius. It's recommended to price the rental at what other similar properties are getting or slightly below. Thorough tenant screening is emphasized to find good tenants who will stay for a long time. Checking credit and background, verifying net income, and checking landlord history are important steps in the screening process. The speaker shares stories about tenants who were behind on rent payments and emphasizes the importance of being cautious and not letting tenants get behind on payments. The costs associated with tenant turnover, including repairs, vacancy, and inspection items, are discussed. The average cost for a turnover is estimated to be between $1,000 and $2,000. Overall, the video recommends being prepared for turnover costs and focusing on finding and keeping good tenants to maximize cash flow.
The video discusses various strategies for advertising rental properties and maximizing cash flow. P