Landlord 2.0 - Will You Take Part In New Trend

[Al Williamson]

Do you agree next-generation landlords will be more engaged with peer-to-peer sharing, purchasing, and funding?

Many like @J Martin and @Brandon Turner are open to AirBnB types of offering, but will progressive landlords take the next step and start using/offering ZipCar, TaskRabbit, and other tools in the Collaborative Economy to increase profitability?

How do you plan to take advantage of the exploding peer-to-peer marketplace?

[Joe Bertolino]

I agree with a lot of what Bill said. I have a short attention span and can easily get sidetracked from my main money making operations. Many people drawn to RE are the same way. I am also an insurance agent that deals with hundreds/thousands of business and property owners so I see a lot of guys that are successful and a lot of guys that are not. While I think improving the tenant experience is a good thing... Most renters are not willing to pay the premium required to justify all the extra "sizzle" items. The huge complexes can pull it off but most small landlords shouldn't attempt it.

My most successful clients find one thing they do well and focus on it. I have a cosmetic dentist that nets about $700hr. That is what he does, he spends as much time as possible hunched over someone's mouth. He is also a big RE investor but he has a broker and PM that do everything. He understands that he may be getting charged retail rates for repairs but it is not worth his time to oversee everything or dig through material suppliers trying to save a few bucks. Even in RE he specializes... 12+ unit properties (to supports on site management) in midtown Sacramento or Portland.

I have other clients that own a construction company, a bar, a racing team and a hodgepodge of rentals. All of the ventures just get by because they can't focus on one thing long enough to make it work.