I'll bite. This is my two cents from a real-life real estate agent's experience...
I was a newly licensed agent riding around in my '03 Nissan Altima. I had just sold my "fancy" Chrysler 300 because it was pretty much a turd on wheels. A fellow agent (in South Florida, Miami/Ft. Lauderdale area) suggested that I upgrade from the Altima to something a little more upscale because "clients aren't gonna take you serious when you pull up in an old Nissan to show them a six-figure listing."
I never once had an issue with my old Nissan hindering my ability to fulfill my duties as an agent. It is truly unfortunate that we live in a society where we are often judged on our material possessions rather than our ability to fulfill our professional obligations. I know people who drive high end luxury vehicles but don't own a single thing besides the clothes on their back & I also know super successful multimillionaires who shop at Goodwill for clothing and won't purchase a vehicle priced higher than $3000. I guess it goes back to the old adage "don't judge a book by its cover."
Yes, bumper stickers (and people's reactions to them) can be polarizing. We all tend to think that other people must "think like us"... and it's a shock when they don't. You're better off, in business, keeping your opinions to yourself.
I 've only been landlording for a year this Year..It has definitely been a learning process. Never once occurred to me the tenant would take notice...It's my everyday car. The SUV is a much newer model... However, I have nothing against driving a luxury car just don't drive them around your tenants AND let your newly acquired assets pay for the liability. :)
Furthermore, if your tenants see you driving a Sanford and Son junk wagon, they might think you don't have enough money to fix things if something broke, and you could lose a good tenant.
I am of the mindset that a car is a quickly depreciating liability. So there is no chance that you will ever see me driving a luxury car. That is money that I could be investing.
Clean and functional vehicles. I want our tenants to have clean and functional vehicles too, so it sets an example. Our tenants get to know our vehicles, so if I suspect trouble at a property and want to watch the "goings-on", I will do a "stake out" from a friend's car.
Our vehicles: Black 1987 Toyota Corolla FX16 3 Door Hatchback (yes I can use the back seat and still fit a full size toilet in the back cargo area) great gas mileage! Silver 1991 Subaru Legacy 4Door Sedan (good passenger vehicle and large trunk.) Green 2003 Subaru Legacy 4Door Wagon (with back seats down it makes a good size cargo bed and I like working at the lower height.)
We used to have an Orange 1976 Ford Econoline Cargo Van but the gas mileage was terrible, the steering was pretty loose, the speedometer was broken, and the body started to leak (couldn't keep out the Pacific Northwest rain!), so we donated it to a charity. Only thing I miss from that is the vintage shag carpet and the Fred Flinstone doll that sat on the dashboard!
Furthermore, if your tenants see you driving a Sanford and Son junk wagon, they might think you don't have enough money to fix things if something broke, and you could lose a good tenant.
Furthermore, if your tenants see you driving a Sanford and Son junk wagon, they might think you don't have enough money to fix things if something broke, and you could lose a good tenant.
Furthermore, if your tenants see you driving a Sanford and Son junk wagon, they might think you don't have enough money to fix things if something broke, and you could lose a good tenant.
I like to live by a quote that I heard from Jack Nicholson, "I don't care what most people think about me, I don't think about them at all....." it bothers me that some people think that successful people should be ashamed of themselves......if someone owes me money, I show up at their door with whatever I happen to be in that day. May be a dodge pickup, or and escalade, or the new BMW that I thought I had to have.....and by the way I personally don't judge a person by what they pull up in, I judge them by the condition that the inside of the vehicle is in. Any dime store millionaire can make payments on a Beemer in my opinion. In fact the pickup I just bought cost me as much as a premium car. Has anyone looked at what they want for a three quarter ton diesel pickup these days?
I think that mentality can hurt your tenant selection. If you drive a piece of crap the prospective client might think you can't afford to maintain the property.
Most new landlords will judge the condition of the inside of the vehicle of a tenant. Please explain what that will have to do with rent paying?
Joe Gore
Joe:
Not usually a reflection of paying their rent, but experience has taught us it is a good indication of what the inside of your property will look like in a few months.
Sean Kremer I fall out of my chair when I look at prices for 3/4 ton diesels that are 4-5 years old and have 70K miles on them. I'd like to have one to pull my travel trailer but I wouldn't have any money leftover to pay park entrance fees.
I have two old vehicles in my garage which I am contemplating repainting for "company" vehicles: a 1965 Greenbrier rampside truck and a 1966 VW Type-2 Transporter (Kombi w/ seats removed and converted to electric).
Joe Gore, Taking into consideration the inside of a prospective tenants vehicle plays into how they will take care of the property. It personally think there are better indicators but paying rent is only half of the equation.
What costs you more money? Slow paying rent or even eventually no rent or a damaged property? I say a damaged property has the possibility of being much worse costs wise....
I'll bite. This is my two cents from a real-life real estate agent's experience...
I was a newly licensed agent riding around in my '03 Nissan Altima. I had just sold my "fancy" Chrysler 300 because it was pretty much a turd on wheels. A fellow agent (in South Florida, Miami/Ft. Lauderdale area) suggested that I upgrade from the Altima to something a little more upscale because "clients aren't gonna take you serious when you pull up in an old Nissan to show them a six-figure listing."
I never once had an issue with my old Nissan hindering my ability to fulfill my duties as an agent. It is truly unfortunate that we live in a society where we are often judged on our material possessions rather than our ability to fulfill our professional obligations. I know people who drive high end luxury vehicles but don't own a single thing besides the clothes on their back & I also know super successful multimillionaires who shop at Goodwill for clothing and won't purchase a vehicle priced higher than $3000. I guess it goes back to the old adage "don't judge a book by its cover."
I'll bite. This is my two cents from a real-life real estate agent's experience...
I was a newly licensed agent riding around in my '03 Nissan Altima. I had just sold my "fancy" Chrysler 300 because it was pretty much a turd on wheels. A fellow agent (in South Florida, Miami/Ft. Lauderdale area) suggested that I upgrade from the Altima to something a little more upscale because "clients aren't gonna take you serious when you pull up in an old Nissan to show them a six-figure listing."
I never once had an issue with my old Nissan hindering my ability to fulfill my duties as an agent. It is truly unfortunate that we live in a society where we are often judged on our material possessions rather than our ability to fulfill our professional obligations. I know people who drive high end luxury vehicles but don't own a single thing besides the clothes on their back & I also know super successful multimillionaires who shop at Goodwill for clothing and won't purchase a vehicle priced higher than $3000. I guess it goes back to the old adage "don't judge a book by its cover."
Yes Michael it is unfortunate but it is what it is...And THIS IS the world in which we live. .when it comes to business we have to do whatever is "necessary" to be successful. (Of course within reason and without causing harm to others ) With regard to landlording and collecting rent I will think twice before meeting with tenants.
I just upgraded my rental property truck last week. With two kids my extended cab 98 F150 with rust, no AC and a leaking roof was not going to cut it anymore. I have a new Ram 1500 crew cab now. a 45k truck but it will bring less attention than a 12 year old Porsche. I avoid taking the Porsche to the properties but if I have to I park it out of sight and walk to the property.
I do not drive an flashy car, but I don't think I will let the fact that I own rental properties influence what car I drive. Having said that, my personality, which led me to buy the rental properties in the first place, prevents me from driving a super flashy car...at least not until I delegate meeting with tenants fully.
While I think it's a sad state, I agree that people judge us on what drive, our clothes, etc. I do care what people think of me because that could be a relationship that benefits me greatly in the future, personally or financially. Now, I don't lose sleep if someone doesn't like me, nor do I stress over it. But I do make an effort to make a good first impression, regardless of who I'm meeting.
That being said, I don't dress flashy. In fact, wearing a tie is like having a noose around my neck but I will do it for the right occasion. I usually wear polos and cargo pants, Dockers or at least nice jeans. I don't wear flashy jewelry and I drive a 7 year old Toyota Tundra with a dent in the front bumper and a slightly bent rear bumper. It is still a nice truck but I don't pamper it. The interior is leather and mostly neat but not spotless. I have 2 kids so spotless is near impossible.
@Siye Baker - I'm with you. I always go for the $1, last-years-model phones at Best Buy when I'm upgrading and I still have a good phone that does everything I need it to. New shoes... well, they're just not as comfortable as my oldies.