What Every Landlord Should Secret to Flipping Houses 1 week ago   22:48

Phil Pustejovsky
What every landlord should know about property management ideally, before you buy your first rental property.

Comments 565 Comments

Wendy Reinert
Love your stories, Phil. My husband passed away and he was everything. The property manager and Mr fix it all. I am disabled. So I had to get a property manager to help me. Honestly, Phil, I feel I'm managing the property manager. I feel like I know more about landlording than they do. I have tried 2 companies and both of them I feel like I'm the one teaching them new things. We were better at renting out our house. I came up with all the ideas to try to rent it in the winter. I said we should have a winter special and take $200 off the rent. I wanted to make it more appealing than the other house that is the same nearby. That bad thing about PM is you can't control Zillow. I would have put it on Zillow. But he hasn't. He is going to sign a person with lower credit. That can be good and it can be bad. I have had a loyal tenant that pays on time that had a very low credit score. But he has a great job. Sometimes people with low credit scores can be good because they don't leave because no one else will take them.
George Valente
Screen tenants...If I like a tenant I ask to drive to their current home and do a walk through to see how they live...without prewarning...If they refuse then it is good bye
George Valente
I meet the neighbors, exchange phone numbers and ask the neighbors to call me if they see things that don't look right at my rental property.
I like your style. Thanks for the education.
In NH we can't do set-outs.
Do you purchase a home warranty plan on each of your properties?
Sounds good in theory. I had 3 rental managers and all 3 sucked. One went out of business and no one else wanted to manage existing renters. They always call me about doing stuff and I hired them to do it for me. One renter took all the light bulbs and batteries out of the fixtures and just vanished. After 2 months we got access to the place. Another kept breaking stuff and I finally refused to fix and they continued to stay there and pay rent. Finally summer with no hvac they left. One management company said I had to take out a liability policy on the manager Incase the renter punched or injured him when doing a walk through. At this rate maybe I should do section 8 only vs avoid it? Property is upside down and I have another place to live, so selling it was unsuccessful. Seems you cant sell and rent the property at the same time or so I have been told. Seems the renters know the game. Usually they start off well, then things go right into the gutter. 2 of the 3 left plumbing boogie traps. One clogged all the drains. Like I said how can renting to section 8 be any worse?
Hire a property manager!
larry moore
Our company has been in rentals for ten plus years. We have been lucky about evictions and property damage. My partners believe it's because of the way I screen them. I find that the more you talk to them the more you learn and that checking out the application is very important. Evictions are no fun but it's part of the process. We also have good houses including some extras so our rent is higher, eliminating what we call " Rent Hoppers" and borderline renters.
Kevin Cross
Love this. Property management is mostly adult babysitting. If you only put responsible adults in your property, you eliminate 90% of why you need a manager.
one thing I've been looking for is can I rent my own house out to someone without a business license and if not then how do I get a business license? someone please explain because I'm really interested on how all this works.
Chris Friesen
You have good advice, yes keep your rentals close.....I live just outside of Vancouver, the market is around $650k-800k for an older model home. It can not keep pace with current rental market rates around $2800 for that kind of property, property taxes are $3800 per year as well. Even though I own property in this market, to get the cash flow I am buying in markets about 5 hours away from me. When I can I am my own property manager. When I can’t I hire one after a very extensive interview process because I agree previous dealings left me paying all the hard earned profit to them with out the service one would expect
Jon D
I would have loved to see something mentioned about lease agreements, and for how long of a term, etc. Month to month renting...good or bad?
As always though Phil excellent video, I absolutely love watching!
Carolyn Ly
Thank you for your useful tips for what every Land Lord should know🙏
Michael Fridelle
Phil....outstanding!!! Really enjoyed this. Excellent information.
Great info!!! Thank you so much.
Kristin Scythes
should I get a realtor to rent my high end condo?
Diana Bakema
Hi Phil, is there anyway I could contact you directlly?
i only have a minimal amount of like 20 k to start with ???? any advice?
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Secret to Flipping Houses What Every Landlord Should 1 week ago   16:11

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