Update on Quality Tenant Training!

Last night, we held our third conference call training with Don Conrad. I was blown away. Don taught specific strategies on how to evaluate and select the best tenants for your investment properties. I took 4 pages of notes, and I'm experienced!

One of our Members in Cleveland noted that I included an incorrect date in the Income for Life Newsletter for the last training call with Don. The fourth and final training call is next Tuesday, August 26th at 7pm EST. The conference call number and passcode are correct, as printed in the newsletter. If you don't have the call in details and are an Income for Life member, please contact your Income for Life center.

During last night's call, Don explained the following...

1.  How to analyze a tenant's cash-flow. Up until last night's training call, I've only analyzed the cash-flow of the property. From this point forward, I'll now analyze my prospective tenant/buyers cash-flow, too! Simply brilliant.

2.  A sneaky way to be able to track tenants down after they move out of your property.

3.  The 5 skills you must develop to evaluate a tenant before renting to them.

4.  What do look for when reviewing criminal and background checks on rental applicants.

5.  What questions you should ask previous landlords.

6.  How to see if the previous landlord is "real" or "fake."

7.  What to look for if you visit the tenant's current residence.

8.  How to handle co-signers.

9.  How to automatically collect the rent each month directly out of the tenant's bank accounts.

10. Plus a lot more...

So many investors complain about their tenants and challenges they have with their properties. 80% of these challenges are caused because the investor didn't properly screen their tenants. By simply improving your screening process, you can eliminate 80% of your management problems.

Remember the 80/20 Rule?

It states that only 20% of causes generate 80% of effects. From my perspective, it is extremely important for real estate investors to focus on the 20%. Thoroughly screening your applicants is a 20% activity.

I certainly realize that tenant screening isn't very exciting. However, it is a skill set that is extremely important. It can save you hours of time and thousands of dollars with your properties. Other advanced wealth builders have used Don's Quality Tenant training as a free way to train other people to manage their properties. Talk about ultimate leverage...

Several month's ago, I wrote an article in the Income for Life newsletter about hiring your own Apprentice. Wouldn't it have been pretty easy to train your apprentice using Don's training calls or even his training course? I used Don's program to help train my apprentice. I purchased Don's course from his website so that I can use it to train future Apprentices. Maybe you should too!

To build maximum wealth you have to use everything to your advantage! I mean everything.

Rob Minton

P.S. These training calls with Don have been recorded. Wouldn't these recordings be helpful to you or your Apprentice? Check with your local Income for Life Center for more information on how to access these recordings. If you're not a member, you can apply at www.IFLApplication.com

Tenant

Comments

[Rob Minton]

Chriztoffer,

Great question! I would probably recommend really evaluating and qualifying the tenant/buyer based upon their monthly income, job stability, personal references and an analysis of their monthly cash flow. If they aren't qualified for your home, I would probably pass on the large upfront payment and wait for a qualified tenant. Now, the larger upfront payment does help in the evaluation process. If they are close to qualifying for your property, I would then take this large upfront payment into consideration. Otherwise, it would be no deal for me!

I hope this helps!
Rob Minton

[Chris Hobel]

Rob, what's your feelings on down payments paid on a property that is either 100% financed or partially financed? ex: your asking $9000 deposit and you find out the money they gave to you was sourced from a 3rd party and they are making repayments on that or it was partially funded- $4500 from them and the other financed. In a hi priced area say LONG ISLAND NY do think 10% deposit is too much-and when is cash not always king?

thanks,

chriztoffer Hobel