Mike Butler > Quotes

“Life Is Good with good, solid, almost-maintenance-free rentals.”
― Mike Butler, Landlording on AutoPilot: A Simple, No-Brainer System for Higher Profits, Less Work and More Fun

“They act like “business owners” because they are. They put themselves in a position to continue networking, learning, and “being close to the action.” They don't go to court, paint houses, collect rent, cut grass, or help set out evicted tenants. They have systems in place to handle this for them.”
― Mike Butler, Landlording on AutoPilot: A Simple, No-Brainer System for Higher Profits, Less Work and More Fun

“that line that balances Paralysis of Analysis against the Nike slogan “Just Do It.”
― Mike Butler, Landlording on AutoPilot: A Simple, No-Brainer System for Higher Profits, Less Work and More Fun

“The “Property Manager” title is simply a term to identify yourself and setting the stage to pass the buck and avoid the challenge of making a decision right now because you have the authority to do so.”
― Mike Butler, Landlording on AutoPilot: A Simple, No-Brainer System for Higher Profits, Less Work and More Fun

“Qualifying Standards You should have written qualifying standards for your property.”
― Mike Butler, Landlording on AutoPilot: A Simple, No-Brainer System for Higher Profits, Less Work and More Fun

“this one subject and challenge involves your local landlord-tenant laws.”
― Mike Butler, Landlording on AutoPilot: A Simple, No-Brainer System for Higher Profits, Less Work and More Fun

“When you treat your real estate as a business: You have a “business owner” attitude. You're “hands-off” and use “systems.” You assign or delegate repairs and maintenance. You NEVER knock on doors for rent. You've trained your tenants to pay rent with ACH, online payments, or mail payments. Tenants never call your home or cell phone. Tenants don't know the owner. You never go to court, (that's for attorneys). You never physically participate or even show up at your own evictions. You never show your own vacant units. You never cut grass. You have no trouble “getting to the next level” because you have time to achieve objectives.”
― Mike Butler, Landlording on AutoPilot: A Simple, No-Brainer System for Higher Profits, Less Work and More Fun

“KEEP YOUR JOB until your real estate investing produces far more than your job income. Once you have confidently achieved this, you should be able to have a very smooth transition into full-time real estate investing.”
― Mike Butler, Landlording on AutoPilot: A Simple, No-Brainer System for Higher Profits, Less Work and More Fun

“NEVER go to their home to check it out. If they are a great tenant, you should believe them.”
― Mike Butler, Landlording on AutoPilot: A Simple, No-Brainer System for Higher Profits, Less Work and More Fun

“Evictions—NEVER Tell your tenant YOU will file an eviction notice. ALWAYS tell your tenant that you, Wally and Beaver, will cause their own eviction because they have not paid their rent.”
― Mike Butler, Landlording on AutoPilot: A Simple, No-Brainer System for Higher Profits, Less Work and More Fun

“NEVER install carpet at the front door. Always put some kind of entry foyer–like tile or vinyl planks for folks to stomp and wipe their feet on when entering your rental house.”
― Mike Butler, Landlording on AutoPilot: A Simple, No-Brainer System for Higher Profits, Less Work and More Fun

“Therefore, if you treat your tenants as employees, this means you are their employer or their boss. And yes, the boss has responsibilities as well.”
― Mike Butler, Landlording on AutoPilot: A Simple, No-Brainer System for Higher Profits, Less Work and More Fun

“NEVER Teach a Pig to Sing, It Wastes Your Time and Annoys the Pig.”
― Mike Butler, Landlording on AutoPilot: A Simple, No-Brainer System for Higher Profits, Less Work and More Fun

“If you own no more than three rental properties, you do not have to follow Fair Housing Laws.”
― Mike Butler, Landlording on AutoPilot: A Simple, No-Brainer System for Higher Profits, Less Work and More Fun

“Or better yet, identify yourself as a person who works for the Property Manager. This powerful, stuck-in-the-middle position allows you a boatload of flexibility to dodge all kinds of bullets. These two words give you an easy out to avoid making rash “shoot from the hip” decisions that may be emotionally charged or you may regret later.”
― Mike Butler, Landlording on AutoPilot: A Simple, No-Brainer System for Higher Profits, Less Work and More Fun

“Lesson 2—SAVE ALL Correspondence—It's Your EVIDENCE or Proof Just like Judge Judy on The People's Court, she begins the case allowing each party to tell a short story. After that, she wants proof. It doesn't really matter what it is, as long as it is not noise coming out of their head. It could a phone log, a note with a date stamp on it, a chronological record or a notepad, in addition to receipts and other things. The point is to have SOMETHING other than “He said, she said” to make your case.”
― Mike Butler, Landlording on AutoPilot: A Simple, No-Brainer System for Higher Profits, Less Work and More Fun

“This system could be considered illegal, because if you have more than three rental units, you must rent your unit to the first qualified applicant.”
― Mike Butler, Landlording on AutoPilot: A Simple, No-Brainer System for Higher Profits, Less Work and More Fun

“Turnovers are by far, your biggest expense. The fewer you have, the more money you will make.”
― Mike Butler, Landlording on AutoPilot: A Simple, No-Brainer System for Higher Profits, Less Work and More Fun

“NEVER call yourself a “Landlord” again. Now you work for the “Property Manager” and you must follow company policies and procedures. You do not have the authority to do squat.”
― Mike Butler, Landlording on AutoPilot: A Simple, No-Brainer System for Higher Profits, Less Work and More Fun

“My personal opinion and recommendation is to NEVER quit your job until your real estate income is producing a lot more than your job income.”
― Mike Butler, Landlording on AutoPilot: A Simple, No-Brainer System for Higher Profits, Less Work and More Fun

“I'm not in the hotel business.”
― Mike Butler, Landlording on AutoPilot: A Simple, No-Brainer System for Higher Profits, Less Work and More Fun

“Looking at this calendar, what are the worst two months of the year when the barrel would be completely empty—meaning everything is crap. Your answer is November and December. Would Aunt Bee ever consider moving in these months? Heck, NO! She is focused on holidays, baking, and hunkering down for the winter.”
― Mike Butler, Landlording on AutoPilot: A Simple, No-Brainer System for Higher Profits, Less Work and More Fun

“You can always put a bad tenant in an “A” quality rental. It is almost impossible to put an “A” quality tenant into a Dumpster.”
― Mike Butler, Landlording on AutoPilot: A Simple, No-Brainer System for Higher Profits, Less Work and More Fun

“And finally, apartments for the most part fit the bill as “short-term temporary housing,” just a notch above a hotel or motel. Yes, we can find folks who live in an apartment for years; but most tenants are short-termers and move more frequently than those who take up residence in a house.”
― Mike Butler, Landlording on AutoPilot: A Simple, No-Brainer System for Higher Profits, Less Work and More Fun

“please remember one of the big three fatal mistakes of investors is getting “Bad Advice.”
― Mike Butler, Landlording on AutoPilot: A Simple, No-Brainer System for Higher Profits, Less Work and More Fun

“NEVER Allow Women to go on any appointment alone. NO EXCEPTIONS. This includes the luxury neighborhoods and not just the normal and low-income neighborhoods.”
― Mike Butler, Landlording on AutoPilot: A Simple, No-Brainer System for Higher Profits, Less Work and More Fun

“Beware of the applicant waving cash. The odds are the cash they're waving under your nose belongs to their current landlord.”
― Mike Butler, Landlording on AutoPilot: A Simple, No-Brainer System for Higher Profits, Less Work and More Fun

“NEVER Allow Females to Go to any Property Alone”
― Mike Butler, Landlording on AutoPilot: A Simple, No-Brainer System for Higher Profits, Less Work and More Fun

“Never, Never Call Yourself a “Landlord”
― Mike Butler, Landlording on AutoPilot: A Simple, No-Brainer System for Higher Profits, Less Work and More Fun

“NEVER Accept Any Cash Payments Except rental application fees, but you can do this online today, too.”
― Mike Butler, Landlording on AutoPilot: A Simple, No-Brainer System for Higher Profits, Less Work and More Fun