How to find your perfect tenants

Jim_SamsonYou may see real estate as a path to an early and wonderful retirement, you may see real estate as an additional income stream, or you may be preparing to begin your own real estate portfolio.

In any case, there’s an essential piece to any real estate empire: tenants.

So whether you’re about to get started or you know the struggle of finding decent tenants, let me give you the secrets to finding your perfect tenants now.

Finding tenants can be a nightmare. That’s just the honest truth. It can actually be so bad that it keeps some people from getting started in real estate at all.

That, of course, is a shame because real estate can truly change anyone’s life.

And that’s exactly why I’m discussing the topic of finding the right tenants today. I want each and every one of the real estate-interested members of The Midas Legacy to be able to quickly, easily, and effortlessly find the perfect tenants for any rental property.

And the blueprint for doing just that revolves around 2 simple ideas:

1. Keep it simple
2. Relationships

In the real estate game, never underestimate the power of those 2 things.

While everyone else out there is trying to find new ways to be unnecessarily fancy and complex, you’ll be able to relax because of how easy it can be to do things the “old fashioned way.”

So without any further ado, here’s my first secret to easily finding your perfect tenants…

Use a yard sign

While you can certainly try other things, such as advertising online and putting your property in mobile phone apps, make sure you’re also utilizing the power of the yard sign.

First of all, it’s incredibly easy. Just run down to the hardware store, pick up a red and white “For Rent” sign, write your phone number on it, and stick it in the yard.

That checks a few important boxes for me:

  • It’s easy,
  • It’s cheap, and
  • It attracts the right kind of tenant.

People who see that sign and call you will already have seen the outside of the property and will be at least slightly familiar with the area since they had to go there to see the sign in the first place.

So by the time they call you, you already know they’re seriously interested in the property.

And that leads us to the 2nd secret:

Keep up good relationships with tenants and neighbors

If you treat your tenants well, that will come back around.

There are plenty of stories I’ve heard where 1 set of tenants has to move out for whatever reason, then a neighbor immediately want to move in because they’ve hear about how good of a landlord you are.

Tenants in a neighborhood will talk—often times about their respective landlord situations.

Being a good landlord will easily help you stand out.

So whether a neighbor wants to move in or someone in the neighborhood knows about people looking to rent, you can be sure to have your name come up.

This secret isn’t tangible. You can’t measure how successful it is until someone calls you because they heard about your reputations. But believe me, if the many stories I’ve heard are any indications, keeping positive relationships can earn you great new tenants at the right time with no effort and for FREE!

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