HIGH-QUALITY TENANTS... Here's How To Get Them! | Episode 154 - a podcast by Bryan Ellis - SelfDirected.org

Want a BRILLIANT way to find a high-quality tenant for your rental property?  This one is so simple, and so powerful, it’ll SHOCK you.  I’m Bryan Ellis… this is Episode 154.

----

Hello, SDI Nation!  Welcome to the podcast of record for savvy self-directed investors like you!

If you’re buying nice houses in nice neighborhoods as rentals, one thing is for sure:  You have a HUGE vested interest in making sure that you’re finding great, high-quality tenants.  In fact, when you’re buying into “Class A” type homes, the lower the concentration of rental properties versus owner occupants is for your target area, the more important it is that you find what I call “owner-quality” renters.

Good news:  I’ve got a brilliant and simple way to do that.

But here’s the thing – you shouldn’t be managing your own property, even if you live next door.  Let property managers do what they do, and you focus on building your portfolio.  So, maybe you should tell your property manager to listen to this episode for your benefit.  Just tell them to check out SDIRadio.com/154 to hear this concept.

So here’s the premise of the strategy:

In nice “Class A” type neighborhoods, neighbors aren’t exactly thrilled when they learn that a property in the area has become a rental.  We can all understand why… there’s the perception that more renters mean lower property values.  That’s not inherently true, but that is what many home owners think.

But there’s a GREAT way to use that to your advantage to find high-caliber, owner-quality renters at exceptionally low cost.

Here’s how it works:

First, get a list of every address in the neighborhood.  You can buy that from a data service, or you can just take an hour one day and write them down.  Either way is great.

Second, send a POSTCARD to every one of those addresses.  The postcard has one purpose:  To startle the other homeowners… to make them feel a bit of concern.  That will happen by using postcards of a particular color – I like neon colors – and by using very specific wording on the postcard.  Something like:  WARNING!  One home in our neighborhood is in danger of decreasing our property values, and it requires immediate action. Call this number for information – it’s just a recorded message for residents of NEIGHBORHOOD NAME only.  The idea is that you write a postcard that’s somewhat alarming because it mentions a threat to property values… but it’s also vague because it doesn’t say WHICH PROPERTY is the “threat”.

Third, when owners in your rental’s neighborhood call that number, what they’ll hear is YOUR VOICE on a voice mail message – you won’t actually speak to them, they’ll just hear the voice mail –you’re your message will explain to them that you’ve bought that property and you’re fixing it up and will now be renting it out… and that it’s extremely important to YOU that you help to protect and enhance their property values.  Then you tell them you’re about to find a tenant, but what you’d REALLY like is a tenant that’s recommended by an existing member of the community, because you’ve found that tenants with a connection to the community are very responsible and act more like owners than renters.  And you’ll ask them to make a recommendation to you about anyone they know who might like to live in the area.

You might even sweeten the pot by offering a referral fee of some sort.

Then at the end of the message, they’ll hear a beep and they can let you know if they have a referral.

Pretty cool, right?

Now it’s REALLY important that the postcard and the voice mail message be very, very well written… I can’t stress this enough.  Using the wrong postcard verbiage or the wrong voice mail message could not only make the strategy fail, but could also put you in a very negative situation with the neighbors.

So if you’re interested… if you see the immediate value of finding a tenant based on neighbor referrals… here's a sample postcard and voicemail script that does this very, very well.

But as cool as it is to have the neighbors themselves find a tenant for you, that’s not the really cool part.

When you use the right kind of phone service for this, what happens is that the telephone numbers of the callers are collected… and the numbers that are cell phones are placed onto a list that makes it really easy for you to send a text message to everybody on that list whenever you want.  Thus, you’ll be able to easily find tenants again in the future… with just a simple text message… and you could use the same list to help find a BUYER when the time comes to sell that property!

Want a great option for this service?  Check out this service - it's cheap, effective and does the job really, really well!

Having an easy way to quickly communicate with the entire neighborhood instantly… well that’s OVERWHELMINGLY valuable for a landlord.

Now, again… I’d like to stress that you probably shouldn’t be doing this yourself.  Instead, ask your property manager to listen to this episode and have them do it for you.  But it’s a great strategy worth applying in your own rental property portfolio.

 

I hope you enjoy the resources I've provided to you today.  Of course, if you're a member of the SDI Discussion Group, you received this stuff directly via email this morning.

What?  You're NOT a part of the SDI Discussion Group?  There's a simple solution, and it's free!  Just text the word SDIRADIO to 33444 right now.  No spaces, no periods, just text the word SDIRADIO to 33444 and you'll get automatic access to the future resources automatically at no cost!

My friends:  Invest wisely today, and live well forever!

---

Hosted on Acast. See acast.com/privacy for more information.

Further episodes of Self Directed Investor Talk: Alternative Asset Investing through Self-Directed IRA's & Solo 401k's

Further podcasts by Bryan Ellis - SelfDirected.org

Website of Bryan Ellis - SelfDirected.org