Landlording in Low Income Neighborhoods

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In order to successfully landlord in low income neighborhoods:

1. Don't be a slum lord. Make sure all of your houses are clean, safe and functional.

2. Don't worry about aesthetics. You aren't renting out a luxury home, so don't make the mistake of investing in a luxury rehab.

3. When repairing a property before moving a new tenant in, follow the following steps:
Step 1: Make a list of all repairs necessary.
Step 2. Cross reference your list of repairs with your inventory of tools. Make sure you bring everything that you need so that you don't have to keep traveling back and forth between your rental property and your home.
Step 3. Cross reference your list of repairs with your inventory of available building supplies (extra plumbing parts, extra shingles, flooring, etc).
Step 4. Your goal is to take one (and only ONE) trip to the hardware store. Start rehabbing with what you have first. Chances are good that as you begin rehabbing you will find a few more items that need to be fixed than you originally planned for. Go to the hardware store only after you cannot make any more repairs without doing so.
Step 5. Don't be afraid to show the property to prospective tenants while you are making repairs. 100% of all my tenants are found this way.
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Видео Landlording in Low Income Neighborhoods канала Jesse Wright