If there’s a critical word of advice that I could give new real estate investors it would be to act professional. I know that’s a pretty vague statement, but treat the real estate business like a business.
Be Professional in All Aspects of Your Real Estate Business
For example, show up to houses dressed in business casual, never in jeans and a t-shirt. Show up on time to all appointments and always honor the commitments you make to others. Also, have a professional image for your business. This includes your business card, your website, the way your phone is answered and how your contracts and other documents look.
I’ve gotten many deals over the years because I’ve come across as the more professional investor. (I’ve had people tell me so in person such as “right before you got here I had a meeting with another investor, but he just didn’t seem to know what he was doing and like he’d be able to help me out of my situation.)
The most important thing to remember…
Is that you’re professional in ALL aspects of your business. And that brings me to the point of today’s post. I’ve had dozens of lease option tenants and I’ve had more than one comment how I’ve treated them better than anyone else.
I’ve also been a tenant myself over the years and have had landlords treat me like dirt, or show up to meet with me dressed like they’d just rolled out of bed 2 minutes ago. Obviously, I didn’t rent those places and have no respect for those types of landlords.
So, I want to show you how to be an awesome landlord, not like the ones above. You see, whenever I meet with a potential tenant I have a special ‘packet’ that I give them. Or if it’s over the phone I email them the packet. (Below is the cover letter that goes with the packet.)
The reason I’m giving you the cover letter below is because if you put together a packet like this for your tenants you’ll attract quality people because they’ll know you’re unlike other landlords and will treat them right.
In short, quality wants to be associated with quality. So if I were you, I’d create your own packet so you stand out from the crowd – because a packet like this makes your appear incredibly professional, even if its your first deal.
Thank you very much for inquiring about our Rent to Own property located at 12345 Creek Lane, Fredericksburg, VA 22407. Our company specializes in helping people achieve home ownership and we thank you for giving us the opportunity to assist you. The rent on the home is $1,699 a month and $400.00 a month are rent credits. Every month, $400.00 goes towards the purchase of the house. When you join our rent to own program, you lock in at today’s price, so when the house increases in value, you get to keep the built in equity.
Included in this packet are four items. First, is our Special Report for Buyers, which explains our program in greater detail. Next, we have fliers with information about the property. Last, is our lease application. Please fill out the entire lease application and mail it back to us at the below address. Also, include a check for $25.00 payable to ABC Realty Group, LLC for our standard processing fee. Once we receive a completed application, we can process it within 3 days and have you on the path to owning your own home.
Our properties move quickly, so make sure and fill out, and return the lease application as soon as possible. Please let me know if you have any questions at all.