Train Your Tenants - 101 Street Smart Cash Flow Accelerators #61

Lou Brown

Sep 05 2019

Hi, it's Lou Brown. I am back with another of our hundred and one cashflow accelerators. And one of the things that we're focused on in this part of the series is property management, proper property management in formed property management. And one of the most important things you can do in property management is to have excellent documentation and not only to have excellent, excellent documentation, but also to train your resident to be a good resident. So what we do is we have a signing ceremony, we would call it the signing ceremony and we invite the resident to come into our office. But if you don't have an office set up a location, it could be a hotel lobby, it could be the local waffle house, Denny's, wherever that you can have a quiet place, you can sit to be there for awhile and a comfortable environment, not at the empty house so that you're going to rent to them or the apartment sitting on the floor.

That's not comfortable for anybody and it's not conducive for learning and for education because that's exactly what we use the signing ceremony for. We want our residents to be educated and trained to be a good residence, so we use that document, the standard rental agreement loaded with profits, right, and protection and negotiation. When we are sitting down with them to do the signing ceremony. Now we typically say, please get a babysitter for your kids. This is going to be focused. We need everyone who's going to be a signatory on the agreement, which means everyone in the house is 18 years of age or older, must appear at the signing ceremony and then together we're going to go through the documents so you could fully understand what you're agreeing to and then when they get to the signing ceremony, we have already got our documents down, are very professionally done.

The way our forms is laid out, I mean it looks like an attorney prepared all of these documents. They're very consistent. They're concise, they match and have a flow. There's a step by step process. I teach that to you. In fact, that's available to you and our property management. This is volume eight of our Streetsmart system and this is [email protected] it comes with the forms and six hours of CDs that walk you through proper property management. And one of the things that we do at the signing ceremony is go through all the documentation with the resident and literally we give them a copy all complete and we have a copy and we together read that. So literally we're reading them each thing. We're going over each paragraph so that there is no confusion and they actually initial every page. They signed a document at the end. There is no confusion about who was present at the time at the meeting. And that's your opportunity to train your resident to be a good resident. There's a lot more to that conversation in volume eight. I hope this has been helpful to you. Do share it. Do like it, do love it. Do subscribe and I will see you soon. Yeah, bye. Take care.

Lou Brown has been buying, selling and holding property for 40 years and you are about to discover what a lot of so called gurus are missing.

* How to buy all the property you want without ever visiting a single bank or needing to qualify for a loan…

* How to have a buyer or renter before you even buy property…

* How to have them already pay you money before you sold them anything…

These are exactly the kinds of deals he does day in and day out. Most 'investors' are getting it wrong. It's not about the property, it's about the buyer. Buying right and buying cheap is what you'll do after you have the buyer.

Media Sites:

YouTube: https://www.youtube.com/user/StreetSmartInvestor

Podcast: http://Streetsmart.mypodcastworld.com/

Facebook: https://www.facebook.com/StreetSmartInvestor/

Web Site: https://millionairejumpstart.com/ and https://streetsmartinvestor.com/

Real Estate investors in all fifty states across Canada and fifteen foreign countries including as far away as Australia and New Zealand, have long regarded the training, systems and forms created by Louis Brown as the best in the industry, Quoted as an expert by many publications and authors, “Lou” draws from a wide and varied background as a real estate investor having been buying property since 1976.

He's invested in single-family homes, apartments, hotels, developed subdivisions and built and renovated homes and apartments. Each of these experiences has given him a proving ground for the most cutting edge concepts in real estate today. He's widely known as a creative financing genius with his deal structuring concepts.

Being a teacher at heart he enjoys sharing his discoveries with others. He has served the industry in many volunteer positions such as past President and designated lifetime member of the Georgia Real Estate Investors Association, the world's largest real estate investor group.

He is also founding President of the National Real Estate Investors Association, which serves as the umbrella association of local investor groups.