Biggest reason for losing money?

[Nathan Gesner]

I know: turnover is the biggest expense. But let's be more specific. Is it:

1. Time sitting vacant during turnovers?

2. Losses due to excessive wear-and-tear?

3. Maintenance or capex?

4. Expensive property management?

5. Mistakes you've made as a Landlord?

6. Tenants constantly breaking their lease early?

What are the big-ticket expenses that are eating your lunch and stagnating your growth? 

[John Underwood]

I would say not doing inspections often enough and small problems turning in to expensive problems.

I do all my own property management (its is about have systems in place and automating as much as possible)

When I do have a vacancy, I turn it around in less than a week, sometimes only a day or so.

I tend to have tenants that stay a long time. When one does leave I update the property and get market rents which I am usually a little behind on.

In the beginning my downfall was not properly screening tenants and most of those tenants didn't work out to be the 5 year plus occupancy that I have now.