Buy It, Rent It, Profit! (Updated Edition) Quotes

“With single-family rentals, many landlords state in their lease that the tenant is responsible for minor repairs under $50. This is common, but after all my years in the industry it makes me nervous when a landlord allows tenants to work on their own units.”
― Bryan M. Chavis, Buy It, Rent It, Profit! (Updated Edition): Make Money as a Landlord in ANY Real Estate Market

“I don’t have the expertise to interview a roofer and know if he is knowledgeable in his craft, but a good handyman will be able to make that assessment.”
― Bryan M. Chavis, Buy It, Rent It, Profit! (Updated Edition): Make Money as a Landlord in ANY Real Estate Market

“The number one reason tenants renew leases is because of good maintenance. The number one reason they leave is poor maintenance responsiveness.”
― Bryan M. Chavis, Buy It, Rent It, Profit! (Updated Edition): Make Money as a Landlord in ANY Real Estate Market

“The Move-In Inspection is a form you complete with your tenant. You should walk through the rental unit together, at your move-in meeting, before the tenant obtains keys. After checking off and identifying any existing conditions of the unit, like a scratch on the stove or a stain on the carpet, you both sign the form. If you explain to your tenants that this protects them from being charged for any damage they didn’t cause, they are usually very agreeable about participating.”
― Bryan M. Chavis, Buy It, Rent It, Profit! (Updated Edition): Make Money as a Landlord in ANY Real Estate Market

“You will, however, almost certainly have to evict a tenant at some time during your career as a landlord. This doesn’t mean you are a bad landlord or even that you had a bad tenant. Even good people lose their jobs or fall on bad times and have to be evicted. But the truth is, eventually you will have to evict someone—and the lease is what the judge will look at every single time to see if you are justified in your eviction.”
― Bryan M. Chavis, Buy It, Rent It, Profit! (Updated Edition): Make Money as a Landlord in ANY Real Estate Market

“The most powerful thing you can do to lease your property is to realize that your rental unit is not the product. The experience your prospect has with you is your “product.”
― Bryan M. Chavis, Buy It, Rent It, Profit! (Updated Edition): Make Money as a Landlord in ANY Real Estate Market

“One of the most expensive and unexpected costs you can have as a rental property manager is high tenant turnover.”
― Bryan M. Chavis, Buy It, Rent It, Profit! (Updated Edition): Make Money as a Landlord in ANY Real Estate Market

“Before you enter into any negotiation, you need to know how the other person gets paid.”
― Bryan M. Chavis, Buy It, Rent It, Profit! (Updated Edition): Make Money as a Landlord in ANY Real Estate Market

“Demographics tells you who they are, psychographics tells you what they want. Knowing who the typical renter is and anticipating his needs in advance, and what amenities he will want (garages, covered parking, pools, in-unit washers and dryers, walk-in closets, proximity to highways, bus transportation) will also help you focus on the right kind of building for your market and dramatically reduce the likelihood of vacancies.”
― Bryan M. Chavis, Buy It, Rent It, Profit! (Updated Edition): Make Money as a Landlord in ANY Real Estate Market

“I never stopped to celebrate our accomplishment with my team. I let a great opportunity go by to increase all of our confidence and get the most motivation possible from our accomplishment before jumping into the next deal. A celebration doesn’t have to take a long time or be expensive. A dinner together can suffice.”
― Bryan M. Chavis, Buy It, Rent It, Profit! (Updated Edition): Make Money as a Landlord in ANY Real Estate Market

“One advantage of real estate investing is that it is less risky than other forms of investing. But like the stock market, fix-it-and-flip-it “strategies” are subject to many economic forces that can change in an instant, making fixing and flipping a volatile investment strategy.”
― Bryan M. Chavis, Buy It, Rent It, Profit! (Updated Edition): Make Money as a Landlord in ANY Real Estate Market