Sat, 22 December 2018
AIPIS 258 - Client Case Study: Preparing for Self Management, Repairs, Software & Late Fees with Adam Schroeder
Returning guest Adam Schroeder joins Jason Hartman for this episode, as the two discuss the steps for transitioning from professional management of rental properties to self management. Adam and his wife have 3 (going on 4) properties and are thinking that the time is soon coming to venture out on their own. But before doing that there are some important things to do like what information to get from your property manager, what kind of initial contact to have with the current tenant, finding forms and contracts when you're finding/reupping tenants, pet rent, and more. They also discuss finding repair people, what to expect from property management software, whether to allow grace periods and what kind of late fees to charge.
[4:24] Sometimes removing a property manager actually makes things easier
[7:43] The information you need to get from your current property manager if you're going to make a switch
[12:42] A way to change your relationship with your property manager rather than completely ending it
[15:25] Bad property manager reviews on sites like Yelp might be a good thing, that's why you have to read them
[20:23] Insurance: individual policies or a commercial policy?
[25:07] You should have a clause in the lease stating which repairs the tenant is responsible for
[29:33] What to expect from property management software
[33:36] The importance of an increasing late fee
Fri, 14 December 2018
Jason Hartman talks with Keith McIntosh, President of McIntosh & Associates, LLC, about protesting your property taxes for your rental properties across the country. Keith explains the different ways you can protest your taxes, why the government big data doesn't get it right all the time, and more.
[2:01] The property tax process & the 3 typical opportunities to dispute
[8:27] How does the process with Keith's company work?
[10:51] Why is Keith's "big data" different/better than the tax assessors?
[15:34] Is there a non-automated product available?
[17:51] How much people are usually able to save when protesting their taxes using Keith's data
[20:04] Protesting your taxes gives you a cumulative effect over the years
Fri, 7 December 2018
Jason Hartman talks with Paul Moore, author of The Perfect Investment: Create Enduring Wealth from the Historic Shift to Multifamily Housing, about what demographics are telling the two of them about the next decade for landlords, as well as home ownership rates and the current habits of both baby boomers and millennials.
[1:46] How the demographics for the next decade looks for landlords
[3:44] Where Jason believes home ownership rate should be
[5:59] The faster growing demographic of renters is the baby boomers
[8:59] Millennials are renting in large numbers, partially thanks to the portability society
[12:55] What investing really is and other investment philosophies