EP 6 – Landlords Make Landlords Look Bad

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Show Notes

Want to hear some landlord horror stories? You really can’t make this stuff up! In this episode of the Collecting Keys Real Estate Investing Podcast, we talk about the logistics behind regulating landlords and why landlord regulation could be very beneficial for communities around the U.S.

You’ll gain (shocking) insight into the state of homeownership across the nation while learning how you can become a better landlord. We also discuss one of the biggest challenges of being an entrepreneur with a small team, the power of hiring an assistant for your real estate investment business, and why it’s so hard to hire people right now.

Then, we share why you need to interview your accountants and/or bookkeepers before you hire them! Plus… In less than 2 months, we’ve signed 14 contracts! How many will we close and flip? What will our revenue be? Tune in to find out!

 

 

Key Points From This Episode:

  • The biggest challenge as a small business owner: Spending too much time on the little things you can’t automate or delegate yet and neglecting other parts of your life.  [02:27]
  • Why it’s so hard to hire people right now. [07:42]
  • It’s not as hard to make an extra $1,000 per month as you think… [08:11]
  • In less than 2 months, we’ve signed 14 contracts. How many will we close and flip? What will our revenue be? [11:08]
  • Does the real estate market slow down during the holidays? [16:49]
  • Landlord horror stories & Why should landlords be regulated? [17:37]
  • What Minnesota landlord regulations look like (Spoiler: You have to get a property inspection every year). [26:56]
  • The most shocking thing about working in real estate. [29:49]
  • Lesson learned this week: Having an assistant is very impactful for business owners & Interview your bookkeepers before you hire them! [31:24]

 

 

Tweetables:

“They’re living in the worst possible living environments you can imagine because the landlord just refuses to take care of their properties… and the thing that sucks about it is those are always the impossible contracts to get cause the people are greedy.” – Michael DeHaan [0:18:21]

“You can’t just send out a batch of letters and then think you’re gonna make money that same month. You have to consistently do it and have this expectation… If you start today, in 90 days you’ll probably be making money.” — Daniel Austin [0:14:02]

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Links from the Episode

1Check out the FREE Collecting Keys “Sub To Transactions” Master Class!

https://collectingkeys.com/subto

If you’re an established investor with money to invest, but not the time, check out the Instant Investor PRO Program! https://collectingkeys.com/

Check out the Big Dan Energy shirt (and more!) in the Collecting Keys Merch Store: https://store.collectingkeys.com/

Download the FREE 5-Step Guide To Generating Off Market Leads here: https://collectingkeys.com/resources/

If you are interested in learning from Dan and Mike to receive coaching and learn how they built their business, head to https://collectingkeys.com/keyscon-2023/ and see if you are a good fit for the mastermind group!

Collecting Keys Podcast Resources:

https://collectingkeys.com/

https://www.instagram.com/collectingkeyspodcast/

https://www.instantinvestorprogram.com/

https://www.instagram.com/mike_invests/

https://www.instagram.com/investormandan/

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