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 The
Aztec Indians had a very interesting calendar. As I understand it,
this calendar was combined to coordinate the days of the year and our
basic human emotions. The Aztec calendar indicated how future days
might unfold and how we might prepare for their outcome.
I believe that in this new real estate cycle, we as investors can look
to well-seasoned landlords as our own “Aztec calendar”: experienced
landlords who have seen many calendars themselves and have some insight
into this coming market and it’s possible benefits.
Relationship Manager
I believe our life’s blood in this next cycle is landlording and
property maintenance. The word landlording is not a word I use; I
prefer the title of “relationship manager”. If you are considering
relationship management, “Fixer Jay” Decima’s Managing Tenants and
Toilets seminar is a valuable course.
About Fixer Jay
Who is Fixer Jay and why should you get into relationship management?
Fixer Jay has over 45 years of experience successfully managing his
inventory of 200 properties and small apartment buildings in Redding,
California. Fixer Jay’s philosophy is no one will manage your
properties better than you, as long as you are willing to get the right
education and have the persistence to implement the strategies and
techniques learned in his course.
“Tenants are customers. Treat them right, they will make you rich”
Good Deals
“There are no good deals. You must create good deals”
Fixer Jay believes there are no good deals listed in the daily paper
because if a real estate agent really had a good deal, they would keep
it for himself. Good deals are created by problem ownership and poor
landlording! Good deals happen when you can approach an owner of a
property and present a solution to his property problem. As bank loan
requirements become more stringent, owner financing and other forms of
private financing will be a key factor in this new market. Whether you
create a note on a problem property, take over the original existing
financing or use a private lending company, , you will have to correct
the existing problem of poor-performing tenants.
As an example for the seminar attendees, Jay searched for obvious
problem properties in his targeted market areas. A classic problem
property would be one with trash in the front yard, cars parked on the
lawn or even look abandoned but is still occupied. Jay would then
contact the owners in writing with an attached photo of the property to
let them know he purchases and manages properties in these areas. Jay
showed us that you can acquire these properties, but the key to getting
all the benefits of property ownership over a long period of time is
relationship management.
Tenant Rules
Relationship management is a key component in solving these problem
properties. Fixer Jay has three rules that tenants must obey in order
to continue to inhabit his properties:
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