By and large, they move to where the job is. Here at GRE we talk about “Don’t Follow Money, Make Money Follow You”, well your tenant doesn’t think that way. Great tenants by definition - have a job, clean, pay rent on time, and that they’re law-abiding. Without great tenants that pay rent on time and take care of your property, the cash flow and returns all just evaporate into thin air. In the end, it doesn’t matter how great of a deal you got on the property or how strong your projected cash flow and return on investment are. So the success or failure of your real estate investments depends on your ability to consistently attract and then retain great tenants. So let’s dig into the heart of how to reduce that for you here. You’ve got to be able to supply a product that they demand and then keep them there.Īs any real estate investor knows, your #1 cash flow killer is vacancy and turnover. Then after that we’re going to discuss a topic that’s definitely not common sense which is where real estate investing intersects with the economy that you live in everyday. I’m your host and my name is Keith Weinhold and today we’re talking about how you attract and retain great tenants for your income properties - some of which is just sort of common sense. How To Profit From Inflation - My Forbes article How you get a “phantom” $40,000 gain per year on $1M debt. I tell you why you want to consider borrowing massively to profit from inflation.ġ) Grab my free E-book and Newsletter at: /BookĢ) Actionable turnkey real estate investing opportunity: ģ) Read my new, best-selling paperback: getbook.at/7moneymythsġ3:23 How to retain the great tenants you’ve attracted.Ģ4:34 Why make extra mortgage principal payments?ģ1:05 The power of smart debt. Next, I tell you how to profit from inflation. It’s not about what you would want in a rental unit, it’s about what your tenant wants. Six qualities tenants want are: 1) safety 2) move-in-ready condition 3) short commute distance 4) upgrades 5) neighborhood amenities 6) rent amount. The quality of the asset you buy affects the quality of the tenant that you will attract. You must think about how your tenant thinks. I discuss how to attract and retain great tenants.
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