Episode #463
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Real Estate Rookie – Episode 369: Financial Freedom in 10 Years and $200K Cash Flow with a Small Portfolio w/Dion McNeeley:
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Finding, screening, and placing new tenants for your rental property is not only difficult—it’s expensive! Want to attract the best tenants in town and ensure that they stick around for the long haul? You won’t want to miss this episode!
Welcome back to the “Real Estate Rookie” podcast! As the self-proclaimed “lazy investor,” Dion McNeeley wants to have long-term tenants and as little turnover as possible. Today, he’s going to share the tips, tricks, and tactics he uses to keep tenants around for not just months, or years, but decades. The best part? He’s not doing anything the average investor can’t do. By implementing these same strategies, you can find high-quality residents and reduce turnover!
Of course, not every investor can devote twenty hours to their real estate business each week. Fortunately, Dion offers some portfolio-saving advice that will allow you to become a more hands-off investor. You’ll hear about a strategy that will have tenants asking YOU to raise rent, as well as a crucial document that could protect your investment when inheriting tenants. Finally, you’ll learn why retention isn’t always the best option and when to let a tenant go.
00:00 Intro
01:59 What to Know Before You Buy
05:02 Inheriting Tenants 101
11:42 The KEY to a Smooth Transition
18:22 The “Binder Strategy”
26:44 Retention vs. Turnover
36:21 Connect with Dion!
