Real Estate Wealth Today

Importance of Headlines

Particularly with newspapers you don’t have a lot of space and it’s expensive, so you’re going to have maybe a headline, one or two bullet points, and then a phone number or website. You don’t have a lot of space so you’ve got to make sure that you do it the right way. Your headline has to be appealing.

Let’s use Louisville as an example. You don’t need to put Louisville in your headline. Everybody knows it’s a Louisville newspaper. You’ve wasted your space. We see that mistake a lot.

Putting irrelevant words in your headlines doesn’t mean too much. Make sure your headlines have relevant words. If it’s a particular neighborhood or section of town, if it’s a well-known area, make sure you put that in there, but not the town.

Be Concise

Be very concise. If you can drive them to your voice mail system or your website, that’s the best way to do it. They would go there and find out if they have some interest. They would see some photos or the video and would kind of screen themselves out and save you a lot of time.

Be Careful of Fair Housing

One thing you’ve got to be careful of is violation of Fair Housing when you advertise. Remember people are going to look at your ad and claim somehow that you’re being in violation of Fair Housing rules. This is a whole subject by itself. We can spend a whole night talking about this. You have to be careful about the words you use.

You can’t use words like church – even if it’s right next to the biggest church in town, or directly across from the biggest church in town. You can’t mention that church. That is a violation.

You can’t mention any sort of family – “It’s a family neighborhood.” If you say the words “family neighborhood” in theory you might be implying that single people aren’t welcome so you’ve got to be careful.
Or vice versa, if you use “apartment designed for singles,” it might be construed as excluding families. Be careful about the words you use. Think about them a little bit.

One of the things I’m going to do on the checklist you’re going to get from me is there are a lot of things in there in terms of words to use and then alternative words to use, particularly if you want to write an ad and you want to use the word fantastic three times.

It will give you fantastic and then give you two or three alternative words to use to try and mix up your words. My template ads are on that checklist. You’re going to get those as part of this program.

Be careful of Fair Housing. If you want HUD offers, in most areas a one day course doesn’t cost much, say $25, where you can take a Fair Housing course. You can learn all about the rules and regulations of Fair Housing. If you’re a serious property management I would do that. Go and spend a Saturday or whatever day they offer that course, take it and learn those rules and regulations and keep yourself out of hot water.

I invite you to learn more about Property Management and get a free 60 minute audio titled “Learn the 10 Success Secrets of Property Management Every Real Estate Investor Must Know to Maximum Profit and Avoiding Tenant Headaches” by going to http://www.realestatewealthtoday.com/PMS.html.
 
Mike Lautensack is the owner of Del Val Property Management LLC, a FULL service residential property management company located in Philadelphia, PA.

One of the things we’re going to focus on is what is professional management versus mom and pop management. Now many of you may have a couple properties. Maybe you’ve read a book on property management, I don’t know, but if you ultimately want to make a business and to grow wealth and to be a serious real estate investor, you need to become a professional property manager.

That is you’re better at it than most people. You’re better at it than nine out of 10 investors. You take it seriously because you’re investing a lot of your own money in these properties, a lot of your time and a lot of your energy, and you want to get the most you can out of it.

That’s where the money is, because if you don’t manage it properly, the value of that asset declines rapidly. I guarantee you, if you’ve bought a property, put a bad tenant in there and they destroyed your property, you’re looking at $5,000, $10,000, $15,000 of damage. Not that property management can totally eliminate that possibility, but certainly professional management versus mom and pop management makes a huge difference.

Advantages of Property Management

We’re going to go through that and understand that process. We’re going to go through the advantages of property management. Why is it worth you getting on this call for two hours for a series of four calls? What are the monetary advantages of doing it? Are there monetary advantages to it? Why not just read a $12 book?

Sure, you can do that, but everybody knows reading a book is a hard way to learn. It’s not interactive. You won’t have the ability to fire questions at me. Maybe you’re pretty good at property management and you have a couple areas you’re weak at. You won’t have the ability to fire questions at me.

Again, filling a rental. Let’s say we had a $900 a month rental. Filling it 30 days earlier than you would otherwise puts $900 in your pocket. So the monetary issues here are tremendous. Keeping a tenant a second year as opposed to losing them because you didn’t treat them right or you didn’t fix the property right or whatever, reselling a vacancy is tremendously expensive.

You could be looking at two months vacancy, $900 per month, and costs you have to pay to maybe carpet in between tenants, so maintaining a tenant is again a huge monetary issue. So there are clearly some monetary issues here that can be quite overwhelming in terms of cost savings.

We’re going to talk about the importance of education, these kinds of calls tonight, the importance of doing it on a continuous basis, meaning joining your real estate clubs, looking for other resources, maybe join my coaching program at some point down the road, but continue to educate yourself further and more completely as time goes by.

Again, a professional real estate investor continues the education process and never stops. A mom and pop learns a couple things and then stops. We’re going to talk about the difference between the two. How to do things like develop contacts and network, how to work with contractors.

I invite you to learn more about Property Management and get a free audio titled “Learn the 10 Success Secrets of Property Management Every Real Estate Investor Must Know to Manage Your Own Investments Properties for Maximum Profit and Avoiding Tenant Headaches” by going to http://www.realestatewealthtoday.com/PMS.html

Mike Lautensack is the owner of Del Val Property Management LLC, a FULL service residential property management company located in Philadelphia, PA.

One of the best ways to build up long-term wealth and passive income is by buying and holding rental properties.

While being a "landlord " isn’t a glamorous job… if you run your rental property business correctly, it can be a very rewarding, easy, and profitable way to invest in real estate.

In just 72 hours we are starting a power packed 3 4 Night Live Tele-seminar where you'll learn simple step-by-step process to develop your own Property Management Program for Maximum Profit and Avoiding Tenant Headaches.

Imagine the money you will save by simply avoiding one bad tenant (can you say $1,000's). Now imagine having good tenants that pay on time and do not call you with minor problems and allow you the time and energy to focus on buying more real estate and growing your business.

Well this program will give the knowledge to achieve these goals.

To learn more about Property Management Secrets for Real Estate Investors and listen to a 30 minute audio please click here ===> http://www.realestatewealthtoday.com/PropertyManagementSecrets.html

Who is Property Managements Secrets For?

• Prospective property owners and landlords
• First time property investors
• Portfolio builders who need their properties to work for them
• Experienced multi-property landlords looking to get the most from their property

This course starts Thursday September 10, 2009 so sign up tonight at http://www.realestatewealthtoday.com/PropertyManagementSecrets.html

Thanks

Mike

Many of you are aware that I started a property management company
about 3 years ago. We currently serve over 100 real estate
investors and manage about 200 rental properties.

As part of starting this company, I have had the “privilege” of
making just about every mistake known to man. We have done stupid
things like

• Advertised with a typo in the phone number and wrong house number;
• Misplaced a lease and was not able to find it later;
• Putting tenants into a property and the tenant never made another rent payment after that; and
• Used a contractor and actual paid him before they did the work – Mistake……

Why do I tell you about my mistakes…to show you that I have made
all these mistakes and now I can teach you how to avoid them and
possible save you from making the same mistakes and save you
thousands of dollars?

As part of the Property Management Secrets for Real Estate
Investors tele-course starting September 10, 2009 we will spend a
lot time talking about things like

• Professional management versus “Mom and Pop” management and why a professional management style is the key to long term success
• The Advantages of Professional management

i) Improved profits
ii) Maintain your property for long term value
iii) More fun dealing with better tenants and more cash flow

• Part-time versus Full-time property management and how to balance

If you would like more info on the Property Management Secrets
starting September 10, 2009 and get FREE 60 minute audio please go
to http://www.realestatewealthtoday.com/PropertyManagementSecrets.html

Thanks
Mike Lautensack
http://www.LearnRealEstateInvestingBlog.com/