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Virgil Nethercott
Pro Member
  • Real Estate Agent
  • Idaho Falls, Id
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17
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Landlording in another state

Virgil Nethercott
Pro Member
  • Real Estate Agent
  • Idaho Falls, Id
Posted Oct 31 2017, 07:21

I am a landlord of 5 mobiles homes in other peoples mobile home parks around the state of Wyoming. I live in Idaho and manage all of these from 200+ miles away. I've dealt with 1 eviction that was probably the best case scenario an eviction could be. I buy the units from Facebook Marketplace typically, they have them listed for $10k, $20k, even $30k. I offer them $5k give or take a couple thousand depending on it and they often end up taking it. I have a maintenance man on payroll who will take care of any maintenance issues that arise. 

  1. When we first get them we clean them up and make any changes that need done to the unit.
  2. We put an Igloo lock box with the key on them (https://www.igloohome.co/products/keybox/) This has been a lifesaver for me and it works very well. 
  3. I post the rental online on Facebook, Zillow, etc and get people scheduled to see it. Tell them this is the code to get in there and a new code generates every time I need one.
  4. When someone is ready to move on it I schedule my maintenance man to go down with a lease to collect the money and signatures. He gives them the key.
  5. They deposit rent into a Wells Fargo account every month.

Wells Fargo and Igloo have been the game changers for my rental business. Since I am so far away though I don't have any room for leniency in my rentals. When a new tenant moves in and they start to act flakey, I will aggressively be on them to start a standard from the beginning. On the 3rd day of the month if no payment has been deposited I send my maintenance man to put the Notice to Quit on their door. Vice versa though, if a tenant has a maintenance issue, we are on it the next day. I also tell my tenants to not wait on any maintenance. How do you run your rentals from different states?

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