Saying tenants instead of humans or people feels really dehumanizing considering everyone needs a place to life and sleep. But nah youre here to make sum money off them.
@@casewhite-954 Oh you look like you eat cold war propaganda for breakfast. At some point your system is going to drive society so far that there will be no more "high quality tenants". The rich get richer and the poor get poorer, there is no more inbetween. Most people you would call middle class are one missed paycheck away from poverty and people like asshat-kevin are the reason for that. And if that wasnt enough youre killing the fcking planet with it aswell. The poorest 50% of the planet produce a mere 2% of global co2 emissions while the top 2% a whoppping 50%. This "lifestyle" what you call it is just mindless consuming and investing to do more consuming. And wtf tells you im a failure at life? I got radicalized by my moms working conditions and several other things and i was able to get myself a better job than her, i have a loving family, very good friends, a few hobbies and i do my thing. Does this mean i cant be angry you're dehumanizing poor people and kill the planet? go read a fcking book that wasnt written by some bootlicking economist.
@@ionlyhavebadmemes blablabla like im going to read all that commie babbling. I just leave this: In 1967, Polish mercenary Rafal Ganowicz was asked what it felt like to take human life, “I wouldn’t know, I’ve only ever killed communists"
@@casewhite-954 Do not assume we're failures because you would be very wrong. We do not envy landlords, or capitalists in general. We want them to stop exploiting the workers, to stop living like leeches on their shoulders. We want justice, in our country and most importantly all over the world. We will get it, sooner or later.
I hate when people can't do something as basic as use a camera. I also had a place say they wanted a 800 credit score to live in their place that was very run down. I didn't see the inside of the property because I was offended my over 700 score wasn't good enough and their shirt looking apartment.
Because when you own a business and or are a contractor you can write off your rent if you do it right. Reading is fundamental folks!!! A basic business or accounting class can treat you these factors✌🏾🖤
As long as you aren’t buying crappy low class homes/apartments it’s pretty easy to get decent tenants. Lower class homes will always bring lower class people which are much likely to give you problems
I've had a lot of tenants. Never ran a credit check. My team and I interviewed every tenant and went through their social media to screen them. We rejected ~50% of the applicants. We never had any issues with tenants.
while all these weirdos are out complaining that investors take all their money, they're watching and sharing his content, generating more money and exposure for him. this is what happens when you focus your efforts of building multiple streams of income and taking control of your own destiny vs complaining about others and blaming others for your own shortcomings. kevin - 1 weirdos - 0
Jacob Glenn they are all a bunch of idiots who don’t understand the beauty of personal property. They say landlords don’t deserve what they worked hard for and they should just die and “give” their property to them. (Never mind that they didn’t actually do any work to earn the property) We both know that they are just keyboard warriors who are frustrated that they lack the discipline to save their money and move out of their parents basement.
@@MeetKevin you have absolutely no self awareness on how sickening your worldview is outside of your bubble of privileged rich people... "I barely have to do anything!", yeah because you take advantage of people who cant afford properties for reasons largely outside of their ability to control. This isnt for a lack of imagination. You didn't earn this BS income you have, and bragging about it where the working class (who you will never work as hard as) can see is a 1 way ticket to the guillotine.
@@MeetKevin There are better possible housing systems where landlords like you dont exist, they could provide better equality, ensure people dont go homeless, and most importantly, put people who dont do any work but leach off of the working class out of a job. Nothing personal, just think you're an unnecessary antiquated burden on society...
@@MeetKevin You are a leech on society. Please remember that there are two vacant investment properties for every homeless person in America and stop screwing up shelter for the people.
Rule #10 you mentioned to only tell tenant that you're the manager. Can't the tenants just look up the property owner on the county's website. Do you buy the property under an LLC? Or just hope that they don't look it up?
Kevin has a video on this where he says even if they go thru public records and find out your the owner. You say I am part owner and don’t solely make all decisions ie even if your sole owner in reality you still consult friends, family, other landlords, even Kevin on decisions regarding the property. So you may be in grey area of ethics but not lying.
Credit score is not that important ! If some one has a very good credit Usually he buy's a house or condo not rent...look for there income and proofs of income. Look for proof of paying rent on time to the other landlord with the bank statements...that work for us for 35 years...!
It's not that important like if it has to be a 700+ in my area that would increase vacancy like crazy.. my rule of thumb is 600 because no they can't buy a house but also shows they don't miss payments all the time
Transition clean is NOT the same as weekend tidyup. Make everything look brand new and work GREAT before SHOWING an apartment. Not a fingerprint, not a dust. Do not allow tenants to "fix" anything no matter what their profession. If they were good at it, they wouldn't be renting. Choose your own repairmen.
@@sarahann530 because the score is usually accompagnied with a credit report and a credit history. You can easily see if someone always pays his debts.
Yeah I had the same issue with low score as I didn’t get my own credit card during uni so when renting I’d prove my income w bank statements and payslips/employment contract. Landlords are fine when they see healthy cash flow patterns and savings and I’ve always only rented through agencies and asset management companies.
A Conneely yes and I still got access to high quality properties held by stringent landlords (agencies and asset managers). Point being is landlords want reliable people and credit score is one way to justify that as it conveniently quantifies the credit history. That doesn’t mean you can’t ask for a review on your income and cash flows in case of a low score. Some of us have been renting since we were 18. My income and savings were what qualified me as they were above the average w clear patterns of an okay money management. This guy has a consistent
Thanks for sharing these videos. As an investor that also buys and fixes rentals, I understand and respect your idea of fixing your rentals up to "rental grade" to attract better tenants. I believe you are doing a great service to the community.
It would be a service to the community if you paid cash for your buildings and passed your savings on not paying interest on to your renters. Buying mortgages and then renting them out is not a service to the community, it is placing the property of the community into the debt of banks and taking a piece of the profit for yourself. It's destructive to the housing market, after a few decades of this pattern hardly anyone can afford a house for a reasonable price any more.
@Gorky D It has ALWAYS been or looked like almost impossible to own a property for GENERATIONS! That's why some people chooses excuses while others go after it no matter how hard it will be and no matter what price they will have to endure, and how many extra jobs they will have to take.
@@andrealucero8523 No, it has been nearly impossible to own property at several specific times and places in history. Definitely NOT always, some times and places it was extremely easy to own property and just required you to make a formal claim to it. At most times, property was within the reach of any profitable enterprise. It's a cycle. There were numerous times in history when debts were forgiven on the orders of a government. Some cultures codified the periodic forgiveness of debts into law, i.e the Judaic custom of jubilee. These are like relief valves to reduce the strain and stave off financial collapse or rebellion. Because the US and the modern world does not allow actual debt slavery and has inbuilt methods for reducing the strain of debt, i.e filing for bankruptcy, the system is able to grow with the economy and accumulate debt much longer without collapsing. However, we can clearly see in the last few decades that debt has begun outpacing growth and it will get to a point where minor stressors on the system like war or bad weather can lead to complete ruin.
Hey Kevin, I love all of your content. It is very informative, and I appreciate the time you take to upload all of the content. That being said, I was hoping you could inform me of what rental application and lease agreement you usually use? I live in TN, and I am trying to rent out a property. I hope it's not too much too ask, again I appreciate everything you do. Hope you have a great day
Extreme standards for extreme results. Charging lower rent and discriminating against credit scores is necessary to avoid renting your place out to Heisenberg.
Anyone can be a manager but not just anybody can be the owner. If I say I am the manager the judge or tenant might make me prove it. I can't prove that but I can prove I am the owner.
Im an owner now but I was a wet dream tenant. If I saw pet rent which is a scam to me ,I would walk away. Are you going to charge me couch rent? A pet deposit makes sense but pet rent unless you are coming to walk him that's not happening. The other one is the maintenance of the house, that's why I rent not to do maintenance. If I'm doing maintenance on your house rather just buy.
Can you get in trouble for denying someone because of their credit score? I know it's illegal for discriminating against religion, race and having kids, but does credit score fall into that category?
@@Sellingtheberkshires could be certain places are making it illegal but most places its perfectly legal, from what I hear, I'm not a lawyer so #dontsuemebro
Some of these comments are proof of how valuable the advice in the video is. Imagine allowing an anarchist to move into you're property? You'd be poor like them in no time.
"Every time they pay rent, my net worth goes up, and I barely have to do anything." Sounds like feudalism but with extra steps. This video and title feed into the idea that landlords are parasites feeding off of the less economically advantaged. Not that this video is bad business advice, but when you treat people's need for basic security solely as an opportunity for profit, you end up with an obscenely wealthy class of people making effortless profit off of people with individual net worths of $5,400.
What you’re saying is equivalent to your profile picture implying “Digital camera companies are parasites feeding off people who are not smart enough to produce their own photographic devices. When you treat people’s need for appreciation of nature solely as an opportunity for profit, you end up with an obscenely wealthy class of people making effortless profit off of people with individual net worths of $5,400.” Kevin juxtaposes words this way because he’s teaching and amplifying the point about investing in real estate for yourself and being rewarded for contributing goods and services to society; in this case people who need a place to live and voluntarily live and pay to live there. Yes, Sean, this what people around the world do to generate wealth. And here’s the catch. Are you ready for this? They’re not all bad people.
I’m what some would consider a “quality tenant”/ soon to be landlord and this video is extremely informative and entertaining. Clearly the trolls in these comments are 💩 tenants and/or Jealous of your success as an investor.
@@MeetKevin 😱 come on kevin we go way back since I promised you in person that I'd check your channel out and i did and now your going to charge me $50 each heartless💔 💪😂
Some people have 700+ but low income(granted it's extremely hard to do that because income is a calculable factor), but most people are trying to save up a higher deposit so they can get more favorable interest rates or simply have a larger nest egg.
I’ve been a rental agent since 1983. I have learned a lot. Their is a formula I often use for renting. It has worked successfully for me the past several years. Remember easy in hard out!lol
I usually refrain from commenting on videos as I doubt everything gets read. However, if it does keep the videos coming! I look forward to listening to them on the way to work!
Kevin, curious as to a specific process: Do you have showings with multiple prospects after you've cleared them on the phone? Or one at a time? If it's one at a time that can delay finding the great tenant and as you mentioned a great tenant has other options. Do you take multiple applications and showings, then pick the best? I do the phone screen and when I find one set up the appointment but if they don't work out I've got to reboot. Your process on that? You're on your way, bro.
Hi Kevin, I am about to buy a two family house(I will live in the 1st floor) can you talk about this type of situation, any comments/advice will be appreciated
I agree and disagree with the credit score. I feel like if someone who says they are rebuilding there credit but can also show a good debt to income ratio can be reliable. If they have no bad debt in the last few years. I understand where he is coming from though.
Anyone can be reliable, regardless of credit, there's just no reliable way of finding out who can be reliable. But reading these vague low-level clues like credit scores helps increase the odds of a reliable person, kinda like seeing that all routine maintenance was done at the dealership increases the odds of a reliable car.
❤ Correct! There's no law that requires you to tell renters that you are the owner. From what I've been told by landlords is that when they inform tenants of being the property owner, sometimes renters will start acting needy/wanty (is that even a word? 🤣 LOL) "Bart1meuz, I want you to install a new stove. I want you to let me have pets. I'm having financial troubles, can you lower the monthly rent by $100? Have a heart, I need you to allow me skip next month's rent until my income improves." See how people will attempt to manipulate you? It's so much more convenient to tell renters that you are only the property manager. If renters start asking for favors or exceptions, it's easier to tell the renters that you checked with the home owner and advised the renters to stick to the lease.
Great video. How does one discover addendums that are local customs specific to your area if you are acting as your own property manager? This could be particulary important if it is a local legal custom to prevent landlords from getting sued. Does MeetKevin still strongly advise against DIY property management even if the person works hard to educate themself first, or is the risk of lawsuit over a small oversight too great for the first time property manager and not worth the risk?
What about someone that follows Dave Ramsey and doesn't have credit? Would you ever rent to a tenant that has other evidence of great money management but doesn't have credit because they don't plan on needing it?
Renters rent to people they're familiar with. Knowledge reduces risk. If you go through Kevin's training programs and show great potential of being another Kevin he'll rent to you regardless of your credit score. If you go through Dave Ramsey's training you'll need to find another Dave Ramsey to rent from.
THIS VIDEO WAS GREAT! My wife and I are buying our first property and we are doing a comfortable house hacking that will become our first rental property. we will be dealing with tenants soon and this information was really helpful. thanks Kevin.
Hey Kevin I live in belgium and we don't have the credit score here. Is there another good way to check something familiar then credit? For example calling their work place to check if they really work there? Sincerely Razum-Dar
You can ask for bank statements to prove their income (see what their the cash flows patterns look like), they can get a document from the court that states they’ve never been convicted, you can just ask if they have any outstanding loans (w documents) and ask for references from previous landlords.
Some commenters here are the type that don't receive their deposit refund... "you should buy a house and lose money on it because I don't have the ambition to make more money."
Super helpful video at exactly the moment I needed it! I'm closing on my first multi-family property on Weds and I plan on putting all of your advice into action when I place tenants in a few weeks! Thanks Kevin!
Thanks for the great video Kevin. Any experience with college housing rental? probably plenty of info on that on YT. I would imagine require the parents co-sign would be a good thing too.
ThePortraitArt I’ve seen videos on these by other RU-vidrs. One of them made a good point as to why he doesn’t do it. He said his properties were trashed more times than not and you have a high turnover as the students are always leaving, so he had to spend money getting it back to move in ready. The pro is you can always find a tenant.
We don’t accept co-sign situations, which usually weeds out the college students. If the student can qualify on their own completely we would not be opposed to renting to them. They would be a very responsible young adult if they already made income/credit all on their own at their age.
PNBraggify did you forget he led China to a mass famine that killed over 45 million people in 4 years? What a “great leap forward” that was. You are either ignorant or a dolt.
This video is really good. A lot of tenants are viewing this as negative ... the best landlords want you to have a great place to live and want to protect their investment. If you’re referring to slumlords than I agree. But tenants need to do their research on a landlord too before renting.
A lot of tenants would rather own their own houses than help landlords build their retirement investments. That's why no matter how great you are as a landlord, if you're participating in this strategy of leveraging eternal debt and passing it on to people who can afford much less than you as a means of profit-making you're always going to be hated by many tenants. The tenants who don't hate landlords are the ones who actually want to rent and appreciate having a place to rent, but inflating the market by turning housing into rental income is not a well-loved business move by most normal people. You're participating in screwing people financially and often you're the closest person to the victim in the screwing process as a landlord.
@@gorkyd7912 I'm sorry is owning property a right? I'm sure you could drive to a city that you could afford to own a home in. I do not have a right to own in New York City downtown. I would have to rent. I also couldn't afford to own in Dubai. A landlord would profit off me.
I liked the video but I’m 21 and working on my credit. I’m not a bad person but I work hard and I keep track of everything now. I wouldn’t yell at people or get aggressive with them if I got denied. You insinuating that I do that’s kind of rude.
Is it very difficult in the US to find out who the owner of the house is? In Europe, it takes a few clicks, address is pretty much enough to look it up. If I was renting something for ourselves, I would always check first who the owner is and if I am signing with him directly not a fraudulent person.
Thank you for the great advice. I am getting my first little rental too. So I need all the information I could get to make it. In another note, don’t pay attention, don’t even reply to trolls. Haters are gonna hate, no matter what. I hope any of your seminars are near my area, I would be so glad to attend. Keep up the excellent work !
Can I add a clause to the lease that any repairs beyond normal wear and tear discovered during the annual inspection will need to be paid by the tenant to remain?
This was an interesting video. I would never dream of "screwing" my landlord. I pay my rent because I feel it's important for them to have that money so they CAN maintain the property. As a tenant, you never want something to break down, at least I don't, but if it does, I know it's important to have the money to repair it. I guess you could call me a high quality tenant because I ALWAYS pay my bills. I would HATE to be in debt. You seem like a very good landlord. I would love to have you as my landlord because you do seem to care about your tenants. Thank you for sharing this information & video. God Bless You on your future endeavors.
Is that a pic of 10k rs gp in the left corner lol love it. you've inspired me to get into and learn more about real estate and crypto thank you very much keep it up 💯
Starts off by saying that he profits off of other people without doing much, says the best way to do so is to get leverage against those that need a place to stay, so that you have power over them, oh I mean "don't get screwed". People don't believe landlords are evil, in the same way I don't need to think that a king is evil to know I don't want my life to be in their hands. A right to live and the guarateeing of human rights should come before profits, landlords aren't those that created this system, they are simply the petite bourgeoisie that give a face to this class conflict.
@@Foomanlol if I complain about people not having human rights that doesn't mean I want to be the one who takes them away. I don't want better landlords, just as we didn't want better kings, I want the state to guarantee the human rights that our constitution grants us.
@@megazaza000 I meant, buy your own house and live in it yourself and stop paying someone rent. Why would you trust the state to guarantee anything of? As it is homeowners have to pay property taxes and if you're behind, the state will foreclose your paid off house. If you're a tenant and the landlord can't pay their taxes, the state is going to come in and kick you out too.
@@Foomanlol Impossible for the average worker to buy their own house. They buy a 30-year mortgage, the bank rents them the house, or they can rent from a landlord and pay even more but with somewhat less risk.
@@gorkyd7912 Average worker where? What salary do you consider the average worker? If you are talking places in California or something then yeah ok, but houses don't cost that much everywhere. I'm in upstate NY and small houses (1000sft) are about $100-110k . You can get a very nice house here for about $160k. North Carolina has cheap homes and lower property taxes than NY state even. There are quite a few parts of this country that houses and cost of living are very reasonable and lots of people can actually own their own home especially if they are married.
Credit score is one thing to look at, but not all that important. The most important thing is following through with last two previous landlord references and it's something a lot of landlords don't do. If you really want to know how they are, that's how.
Tell this to my landlord please. They increased rent on us and nooowwww we're leaving. They also micro manage everything. I think they'll be worse off in the end.
you can't discriminate against military but it seems like you were looking for military. Why? I know they should be more trustworthy but if you have to evict them you basically can't
I’ll be getting rental assistance as a result of being behind 1-2 months on rent (due to healthcare problems). Would you recommend anything important and relevant to write to the landlord?
Thanks for sharing valuable information. Can you please confirm that SmartMoves screening still provides eviction history? Also, do you have separate addendum to address animals at your properties such as added non-refundable deposit, bite insurance, breed exclusion, etc?
Great video ! All these tips will minimize problem tenants. Screening can go so far to avoid future problems. If you here red flags don’t rent to them.
It’s so stupid you won’t take cats because your wife is allergic to them. Are you renting the house to your wife? You just eliminated 35% of tenants. Why is Chewy.com and Petsmart so freaken big?
Wow and then imagine lying to your tenants who ask that you, the big rich owner man, do basic upkeep to your property such as fixing the air conditioning or roofing by saying some whack ass line like “I’m not the only owner!” I don’t give a fuck, man, you own this property fix those things or I’m not paying my ducking rent.
imagine putting your own hard earned money at risk and spending thousands on repairs and paying a fortune in insurance and licensing fees all so some guy can complain about a few hundred dollars per month and not worry about replacing roofing or flooring. all so i can make about $100/month after all expenses are paid for at the end of the day.
@@itzbebop Hundreds a month is Way over the cost of maintenance. You cant say you only make $100/month when your other expenses go into assets you own and can liquidate any time.
@@itzbebop Wow you're right, sounds like a line of work that deals too closely with basic human needs to be a private business designed to profit. It's almost like a person's livelihood isn't something that should be exploited for wealth...
@@seanrussell8831 i mean....theres nothing stopping you from buying your own home. if you're going to put money somewhere might as well put it into your own assetts.
hey kevin, thank you so much for putting the time and making us this videos, my question is, what do you do if your mortgage paying tenant leaves? and are rental apartment units considered commercial real estate?
These comments really show who has a understanding of finances and who will be stuck in a rat race for life. This info was gold. Anyone who thinks bosses/ceo/real estate investors do nothing haven’t grasped the concept of its not how hard you work it’s how hard you make your money work! There payed more because there risking more.
Pretty sure he has talked in the past about still having mortgages, he has only owned them a few years or less still great even if that includes his mortgage debt most likely at least 1 M or more in equity across all doors
OMGoodness, my landlord needs to learn from you. My landlord is a scumbag he does exactly what you said not to do is place tenants into his property without even inspecting and fixes things unless the tenant tells him. He's been doing this for over 10 years. Also, he does not screen any of his tenants.
What type of house should I look for as a first time buyer in college? I don’t want to stay there too long maybe 2-3 years then I want to try to put a tenant in there??
CryptoKEK yeah Kevin was clearly born with a silver spoon in his mouth considering his parents could qualify for a loan, ignore the fact that he had to come up with the actual down payment 🙄 if his family life wasn’t in shambles growing up he didn’t earn his successes and that’s why he’s successful today! Don’t worry, you can rest easy now knowing that you had it tougher than him growing up(maybe) and that’s why you’re not as successful.
