All Forum Posts by: Chris L.

I do not consider myself a coach, mentor, or guru.
However, I have taught basic finances at church for over 20 yrs helping people understand how to eliminate bad debt.
My wife and I routinely meet with people to counsel them on financial matters. We do this without compensation.
4 yrs ago, we helped our first couple start in the rental business. They were successful enough that the wife/mom was able to leave her job. They have had the normal renter challenges but they are much further ahead than they would be otherwise. I then helped her parents through the process and the rentals enabled him to make the transition to retirement very comfortably.
I also worked with another couple from church and yet it did not work well for them and they were actually unhappy with me despite the fact that I did not receive a penny of compensation. They sold the houses and moved on.
I am presently trying to help a 4th couple that have also just joined BP.
I find helping others to be very rewarding. I have a very busy schedule so I cannot do this on a large scale.
I have never had the privilege of finding a mentor so I have muddled through on my own. Back in 2004, I signed up for the Rich Dad coaching. The books and tapes were great. I was not pleased with the coaching results. I ended up with 8 duplexes and soon discovered the inherent challenges of duplexes over SFH's. We sold the duplexes and have moved on and are now acquiring SFH's faster than our rehab crews can keep up. So, I feel that I learned something even from a less than positive experience.
Not looking for any credit here, just saw the thread and thought that I would post our story on this subject.
Chris

I am interested. Please add me to the list.

I may get hammered by other landlords but good tenants are hard to find here in Fort Wayne.
I have often offered the last week or two of the month rent free if the tenant takes the utilities.
Of course, I have collected security deposit and first month's rent.
I see this as a win-win for me. Utilities now covered by the tenant and that allows them a few moving days without having to rent both places. Establishes good will with the tenant and I find that most of the time, tenants will not move in until the first of the month anyway.
That is also fewer days that the place is left empty. We have had a problem here with thieves breaking in and stealing the copper plumbing of empty houses.