All Forum Posts by: Nick Gober-Keller

First off, congrats on taking on an MTR journey.  It's tougher than LTR in my experience but can also be very lucrative. 

$5800 sounds really high to me but I am in a different market than you.  Perhaps that is the norm for a house of your sizes in the location it's in, but I would confirm that. 

How is your sales pitch when you call potential clients?  Perhaps you could write it down and then try to identify any ways to improve it to make your home sound more enticing.  

I hope this is helpful.  Congrats again and good luck!

I almost always call if a phone number is available.  This can help you set up a connection much quicker and gives you an opportunity to make a personal first impression that you dont get with email/messages.  People make their mind up about you within 4 seconds, typically....whether you are or are not somebody they'd like to do business with.  So with a phone call you have an opportunity to make the right impression to start off the engagement in the right direction. 

If no phone number I typically email.  This avoids any issues FF may have with its messaging system. 

Hey Dawn,

First off congrats on thinking about boosting your education in real estate.  Thinking about how you can learn more about the real estate business will certainly serve you well in the long term. 

However, I personally would never invest $2k in somebody to teach me about real estate let alone $20k.  A couple hundred dollars might be one thing but that is an obscene amount for real estate education in my opinion.  Like some of the other comments have said I believe the best educator in this business is experience.  There is nothing like getting your hands dirty.  I see you're in San Diego so there are probably a million investors there, and among them probably a ton of people who would love the opportunity to mentor you free of charge.  There are other free education outlets such as the bigger pockets podcast, real estate guys podcast, etc. 

Best of luck with things!  Congrats again on trying to boost your education!!

Congratulations for thinking this way!! It makes me so bummed when I see people save up money so they can blow it on some sort of liability like an RV or a boat.  So big props to you for thinking about how you can take that $50k and make it work for you. 

$50k is certainly enough to buy property in certain markets.  I have never invested remotely, all my properties are in the same city.  I find that helps so much because I can take care of the property myself, build relationships with my tenants so they will take better care of my houses, etc.  

Since like you said LA is expensive, investing remotely will probably be the game for you to play.  I personally wouldn't want to invest somewhere based on where family is.  To me that is filling a keg with powder then playing with matches around it.  Real estate is a business and it can get very messy getting your family involved with your business.  They might grow resentful or jealous...I have a great relationship with my family and I'll tell you I have had some uncomfortable conversations with them about my investment ventures that they are NOT involved in. 

My suggestion would be to look at markets where $50k can afford you a 20% down payment in an area with tenants you would trust then find a property management company you can trust. Pretty much any city with 200k population or more will have opportunities like this (Knoxville, TN....Richmond, VA...etc.) If things go south with the property management company you can just fire them and get another. No hard feelings, awkward thanksgivings....just appreciation and cash flow.

Again, congrats on thinking this way.  I hope for the best for you in your investment journey 💪

I've rented through Airbnb but only for short term, but I understand AirBNB shifts to a monthly payment structure for stays of more than 1 month.  

My personal approach to this would be to draft a 6 month lease with turbotenant.com and have your tenant sign that.  The leases are customizable so you can make them exactly what you want.  It will establish clarity in expectations between you and your tenant and doesn't have airbnb or Furnished Finders policies interjected in there.  

Best of luck with your MTR journey!!

I had the same issue when I started my MTR venture.  Have you had any guests in the past that have stayed at your place?  If so, I suggest having them give you a review.  That can help you to rent your place because people on FF can see that you are reputable.  

Another thing we did was have a local videographer make a promo video for our property.  This can be a nice sales touch and gives your prospective clients a better feel for the property than just the pics on FF do.  Here is a link to our video to give you an idea. 


(2) Fitzhugh House - YouTube

Another thing I've started doing is reading books on sales.  As lanlords/investors, we are in the sales business at the end of the day.  Building a sales skill set will take you far.  

Big props to you for trying an MTR venture.  It's a more difficult road than LTR but can be very rewarding.  Best of luck 💪

Congratulations on becoming a landlord! You are embarking on a path that can lead to financial independence, personal growth, and contribution to your community.

I'd like to share a fresh perspective that has guided my successful experience as a landlord. Let's start by viewing tenants as valued customers. Remember, as landlords, we offer a vital service - we provide homes, a place where people's lives unfold. In return, tenants pay our mortgages and help us build wealth. Our dreams of wealth creation are dependent on them.

Imagine any successful business, such as a bustling restaurant. They thrive because they value their customers, offering excellent service that makes patrons feel special. As landlords, we can adopt the same mindset, valuing our tenants and providing exceptional service.

While many landlords might delegate the task to property management companies, which often prioritize cost-cutting and minimal service, I take a different approach. I prioritize my tenants' living experience. In my other venture in the construction/mining business, I've learned the power of simple gestures - a crew lunch, for example, can yield extraordinary returns in morale and productivity. Applying the same principles to landlording has equally rewarding results.

Welcome gifts, Christmas presents, or simply treating tenants' concerns as your own can create a great relationship. I make it a point not to rest until my tenants' issues are resolved - they appreciate this because it is not something they are used to.

Another guiding principle is to only invest in properties that I'd be comfortable living in myself. This approach helps in making sound investment decisions and ensures that you can offer your tenants a quality living experience.

Embracing these principles might shift your approach to being a landlord. While challenging, it's an incredibly rewarding journey you're on. Congratulations once again for taking on the landlord challenge and being part of the enriching BiggerPockets community. Keep going, and remember that your efforts are not just about building wealth, but about providing homes and contributing positively to your community. Your journey as a landlord can be an uplifting one. Keep moving forward!