Open to Members Only. Subgroups are smaller group meetings where volunteers teach and coach on various topics.
The Landlording Subgroup is led by Lee Smith, Owner of Spouses Buying Houses, Inc. The group discusses topics of interest to both experienced and novice real estate investors who plan to manage their own properties.
Lee Smith has been investing in real estate since 1992. Started out with flips, and in 2007 became licensed and started managing rental properties. Lee is an ex Microsoft Engineer and is heavily systems oriented. Lee currently owns Spouses Buying Houses Inc, a property management company, where he owns many rentals and manages many more for other investors both foreign and domestically.
During the year, Lee will cover:
1. Running numbers – How to know if you are making money on a rental.: We will look at how to run numbers to see how profitable rentals are. We will use cashflow analysis and look at different bottom lines(Cap Rate, Cash-on-cash, etc) to show real returns.
2. Late Rents – zero tolerance and why you should be using it: We went from 7-10 late renters a month to 1-2. How we did it will surprise you.
3. Contractors and how to find decent ones: Different ways to find and verify GOOD contractors.
4. Evictions – The big scary is not that scary: We will discuss the ins’ and outs’ of evictions.
5. Carpets no more! – Flooring, Paint, tile… What to use and why: We will discuss different products on the market that landlords should be using. Design for durability!
6. I get $575 a month where you get $500, how is THAT possible!?: We will discuss different ways to make additional money on yourrentals. Pet fees, AC rentals, W/D Rentals, etc
7. Use technology to hold your tenants more accountable and make your life easier: We will discuss different tools we are using to make it easier for us to deal with and hold tenants accountable.
8. Single fam or multi fam. The differences in Indy: We will discuss the BIG differences between single fam and multi fam rentals in Indy.
9. Tenants more responsible?! What?!?: We will discuss making tenants responsible for cleaning drains, replacing furnace filters, and other minor repairs. Also how to backbill when they aren’t responsible.
10. Mice, ants, and BEDBUGS!!! OH MY!!!: We will discuss landlord responsibilities and ways to deflect this stuff.
11. Marketing a rental!What to do and how to do it to get the best results.
12. Rent to own vs land contracts vs note/mortgage: Thoughts on creative ways to sell your rentals.
Lee Smith Spouses Buying Houses, Inc
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This group is for members only and meets on the 2nd Wednesday of each month. You can register on our calendar of events.