Rental Property Investor · Dayton, OH · Member since 2015 · 312 posts · 273 votes
Hi BP! Rougher, "less desirable" parts of town get a lot of negative comments. Higher risk, not for out-of-town investors, tenants who demolish your place. All that is probably true. Yet, I just keep doing the same thing with each new acquisition and it just keeps making ROI north of 20% and appreciation to boot. I thought it would be helpful to have a thread where successful c/d players share how they make it work. So, what is your "system" for c/d rentals? Also, what is a key piece of advise for new investors interested in buying this space? Thanks in advance, Gordon.
Rental Property Investor · Erie, PA · Member since 2018 · 6k+ posts · 9k+ votes
7y
@Gordon Starr
I’m no pro like most of the guys on here but my system is very basic and so easy even I understand it . I just treat the tenants like anybody else as long as they don’t screw me . If something needs fixed , I fix it . I’m firm on policy but usually try to be friendly without being friends . I tell them I’m pretty lienant I’m not a slumlord and I will stay out of their lives ..however I have two very strict rules that I absolutely will not tolerate being broken . Rule 1: don’t damage my property Rule 2: Rent must get paid