VH II Custom Home

Footings for 8000 sq. ft. house

ANALYZE YOUR WEAKNESS Joe Neilson, aka "The Real Estate Professor", has a lot of success in the real estate business. But he also realizes that ...its important to analyze where there are weaknesses in your business and look to make improvements each year. After looking at the evictions he had last year, he realized that he needs to do an even better job to eliminate prospective residents who are most likely to be evicted or move. The following are his thoughts and plans for more effective screening. My resident choices must have a better filter. Fortunately, I am able to be selective about my residents because I have 6-plus applications for each open house because I rent in Niches where demand outstrips supply. If you have properties where supply outstrips demand--in other words your house is just one of many--it is far more difficult, or near impossible, to be selective about prospective residents. Where have my selection processes failed me? 1. Eliminate those who you can't do, or who fail your "Queen for a Day" Home Visit. Some examples: If the resident is living with mom or relatives, in a shelter, moved out of a condemned house, has an emergency voucher because of some heart-wrenching drama, their landlord won't allow a visit (Right!). Travel to their home even if it's an inconvenient, time-consuming trip. If out of state, demand pictures, but everything else must be VERY GOOD. What you see in a home visit is what your house will look like after 60 days. No home visit, no approval! 2. Eliminate those who have an eviction filing. Yes, I know they will have a great "It wasn't my fault!" story. One of my 2013 cash evictions had a great story corroborated by her "current"(?) landlord. She was evicted within six months. My average Resident Turnover costs a total of $8,000. My bet is that yours does also. Eliminate the adversarial, uncooperative, negative, demanding, don't follow your rules, instantly attempt to control the process, prospective residents. It won't get better; it will get worse. 3. Do a credit, eviction, and criminal check and judge wisely. Do you personally have an eviction? A criminal record? I do not demand great credit from a Section 8 prospect, but evictions - No. Serious criminal record - No. 4. Be cautious of referrals from other landlords. Ask the "landlord" how much the rent is and the address. The current landlord may wish to get rid of a problem resident or may be the "nice guy" who just can't give a negative referral. Call the last two landlords, employers, etc. It may be time consuming but worth saving $8,000. By implementing the above strategies more systematically, the Real Estate Professor hopes to lower his attrition and raise his average residency stay from 6 to over 7 years and his occupancy from 95% to 97%! All of it money in the bank. Now it's your turn, friend. Analyze your weaknesses. See a trend. What's the solution? Then implement the solution. Make more money!

NEW HOME SITES CUSTOM BUILT FROM THE MID $350’S TO THE LOW $600’S........PRE-SELLING NOW!