All Forum Posts by: Glenn McCrorey

I agree with what Troy wrote about the cash flow goal vs. a number of doors goal. Making 10K a month with two dozen houses vs. 100 doors means a lot less work finding, fixing, screening tenants, or managing your property managers, etc. I shoot for $500 per month cash flow per door after the mortgage, taxes, and insurance.

I have had pretty good luck renting single family homes to nonprofits that service adults with special needs. Many land lords don't understand the benefits so it's tougher for these institutions to find suitable rental properties. I typically work with the N/P to find a house that meets their needs ie. no steps or near a bus line, then buy the house for them. The N/P is on the lease not the actual clients and I have not had any vacancy since 1/07. Also, rents are paid electronically. You have to love that.

Check out the BP podcast on iTunes, very informative. There are currently 18 you can go back and listen to.

You can also stall and say you are evaluating other applicants. Sometimes they move on and find something else. If pressed, you can say you selected a more qualified candidate. The less you say the better.