Look at how pricing works in our area, charge accordingly for yours…
Avg cost of 1 bedroom with all bills (water, electric, cable, internet etc) = $1000 approximately
We look for big houses, get the rooms set up like
THIS, for roommates and charge approx $600 per bed
We don’t require all the typical qualifications that most landlords do. All the bills are paid, it’s furnished, clean, structured and AFFORDABLE compared to the area, plus the tenants get to live with people going through similar situations to themselves. There is HUGE demand for this type of living situation.
You can target any niche you want, or cast a wide net.
There are sober living homes, male homes, women homes, recently divorced homes, veteran homes, transitional homes, halfway homes, aged out foster homes, the list goes one and one.
The homes we look for might be able to rent for $2000 MAX to a traditional renter. We’re looking for 4-5 bedroom homes. But we are now bringing in $4800 – $6000 per property!
Real Estate is all the rage! It’s the best way to build LONG TERM wealth, but what are all the suckers doing that thought they were going to buy 10 homes, and just live off passive income?
1 – They aren’t making great SHORT TERM money
How is that possible? Don’t you just assume if someone is a landlord they are rolling in the dough?
WRONG
It’s possible, but the majority of them ARE NOT.
Here is why:
They might be great at marketing and negotiating, and they found a property for 250,000 including their rehab costs.
They used $50,000 of their own cash they saved up for YEARS to fund their dream. This is an investment property though, and they are new investors. They needed to get a Hard Money loan at 10%.
They’re monthly payment is $1750, so after all is said and done, they are bringing in $250 per month.
“This is a great deal according to biggerpockets.com!
They’re earning 6% annual return on their money which is way better than any bank will pay them!”
All they need to do is get 10 homes like this and they’ll be bringing in $25,000 PER YEAR just by sitting back and collecting rent checks!
Which brings us to the next point….
2 – It’s far from passive!
They’re dealing with evictions, and needing to hound people every 1-10th of the month for their rent check.
In fact, on that first home, even though they did a background check, and verified their tenants’ income, the young family they rented too stringed them along for over 2 months. The husband lost his job but he’s got some great prospects.
Problem is, they’re in another city so they need to break their lease!
They head to meetup.com and look up Real Estate Investor meetings because they need a new strategy ASAP.
They have a home of their own to pay off and just put their savings into a rental property. They’re about to be over $5000 in arrears on their Hard Money Loan! THEY are now facing FORECLOSURE because they didn’t want to be mean to their tenants!
Now where do YOU come into play in this scenario?
You’re probably looking to RENT because you’re on a tight budget right? Now imagine you follow the instructions in OUR FREE 10-PART COURSE, you’ve been going to the meetup groups yourself and you can approach these “Investors” and confidently say the following:
“Mr. Landlord, I see you have a vacant property at 123 Main St and you’re asking $1800/month. I have been studying a business model for months now that can bring in approximately $4800/month on that property. I’ve invested in consulting, and have the systems in place to get a GUARANTEED check every month from tenants, as well as a legal document that will avoid the eviction process.
I have been marketing and networking with local organizations, in fact I have over 300 contacts on my list and XYZ Non Profit Organization has TWENTY people looking for housing RIGHT NOW. They call me every week but I just need a home to operate out of! I don’t have the means to purchase a property just yet, but this could be a great opportunity for the right business partner. This could increase their revenue, they would not get any more calls for the property, and I would do all of the managing and marketing for the business.
I already have a few potential partners, but I really like this property you have listed for rent. Would you be interested in hearing more about this opportunity over coffee this week?”
You need to be in the position to CONFIDENTLY say that though! This will open you up to partnership opportunities so you can leverage other people’s capital INSTEAD of yours to begin your business if you need to.
This is where the
OUR FREE 10-PART COURSE comes into play! You could probably figure everything out on your own, but this will save you a TON of time. It give you all of the how to videos, guides, and sample material you need all in one spot.
There is a reason some people can’t even get a landlord to RENT to them, and some can get them to PARTNER with them with NO MONEY of their own. It’s all in the approach! This is was just one little sample of what is taught in the course!
