The Rental Realist

Flexibility is the absolute key to navigating your property during difficult times. During the 2008 housing collapse, we deployed "flexibility" and I share a story on how that helped investors get through to the other side. The market and economy will always bounce back, so the goal should be to get through it. How is the pandemic impacting your rental properties? I'd love to hear from you, drop me a line at tyson@hometrendrentals.com

I pop off on this episode about an HOA that towed my tenant's vehicle without warning. Many HOA boards are rant by people who don't have a full understanding of law, in particular of what they can and cannot do. I expose on of the worst cases of HOA misuse of power I've ever seen!

The C.A.R.E.S Act, aka the 2.2 trillion dollar stimulus package was signed March 27th and this has a huge impact on landlords and renters. In this episode I discuss what this means and how landlords are going to be impacted and how to navigate through such uncertain times. 

Your rental property is a business, it requires effort, planning, a customer, vendors, and creates an income. So as an investor, you need to set it up like a business, so it can be ran like a business. Mixing rent income and expense in your personal bank account just creates confusion and frustration. When set up in a separate account, this creates clarity and keeps business, business, and personal, personal. Businesses also have operating reserves, well so should your rental property. Expense and unexpected things will inevitably come up, so have the proper reserves to handle any situation that might come up through owning rental property. 

If you have owned rental property for lengthy period of time, you likely have had your share of tenant stories. Most tenants are wonderful and never cause any issues, but the 1 percenters can certainly make owning a rental a challenge! I share the story of Charles and how he made my life miserable for a few weeks. I share what can be learned from this experience with how you should move quickly to remove a bad tenant, protecting your liability at all times. and just how crucial tenant screening actually is. 

In this episode Tyson shares, albeit simple, the "how to" on marketing rental property. Exposure, pricing, following FHA guidelines, to name a few. He also shares an example of a family member who cost themselves nearly $5000 in loss of rent by not properly marketing their rental home. 

Establishing a rent price is not a complicated process, but it's a process nonetheless. We all have a feel of what a property should rent for, but it is important to do an accurate evaluation of the market to make sure your rent price is at a point that will lead the the result you want, which is get the property rented as fast as you can to the most qualified tenant possible. In this episode Tyson shares his step by step process with a few tips to make sure you are as dialed in as possible. 

Being that we are at the beginning of 2020, goals seem to be an obvious point of topic. Real estate goals are important. We need to know where we are going, and more importantly, how we are going to get there. In my experience far too many times investors don't enjoy owing rental, and never realize their goals. In this episode Tyson gives his method of setting big goals, but not letting fulfillment be tied to the outcome. The pursuit is where all the fulfillment comes from. He shares some tips and strategies on how to achieve this so that every investor can maximize their rental property potential. 

In investment property, return on investment is king. You don't buy rental to not try and get the best return possible, right? In this episode, Tyson dives into projected ROI on paper, versus what the reality really is. He shares a few examples of this logic and how always chasing the short term highest return can actually handicap your long term returns. There will be good years, great years, and less than stellar years. It is key to analyze your investment as a whole. One year with higher expense than usual does not mean that your investment is not performing. Look at previous years, future years, and appreciation to properly analyze your rental investment. 

Nothing ground breaking here, but just some solid tips when buying real estate through the traditional method of a real estate agent. There are mistakes made all the time that lead to the purchase of bad properties. Apply these simple tips and never buy a POS again. 

The easy answer is 'NO PETS' in your rental property, but is that the wise answer? In this episode we discuss the upside to being open to pets in rentals. Look at tenants with pets as an opportunity, instead of a liability. 

If you own or will own rental property, you will come across that problem tenant. So what is a landlord to do? You don't want to promote a vacancy, but don't want to continue to deal with a problem situation. In this episode I share a recent story and give you my 2 cents on how to handle tenant situations that are not ideal. 

Liability comes with owning rental property whether you want to admit it or not. In this episode I share a story about how not properly addressing a liable situation that could have cost me financially and professionally. When there is a potential issue that poses a lot of risk and liability, move quickly to correct it, and create a paper trail to show your due diligence. 

By now you know my stance on real estate: HOLD IT! In this episode I give 2 great examples of how one investor deployed patience and won, and how another did not and cost themselves over 150k in a 3 year span. Everyone who buys rental property has a purpose, but can many times get knocked off their path. I talk about creating a firm plan and visualizing what the end game looks like. Don't get seduced by the quick cash, play the game and win in the end!

Raising rents is not rocket science by any means, but there are far too many landlords who are not doing it right. In this episode I give a few tips on how, when, and if a rent increase is in order. We talk about what the current rental market is when making those decisions, how supply and demand impacts it, and how to properly advise the tenant that rent is going up!

In this episode I discuss the top 5 pitfalls that self manage landlords run into and why a property management company might be right for them. A property management company is not an ideal fit for all investors, but there are some that could use the help! I cover tenants who take advantage of their landlord, efficiency in renting, property tenant screening, and landlord practices that should be abandoned in 2019! Tyson Hill is a rental property investor in multiple states and owns a successful property management company. He grew up around the rental property game and knew by the time he was 15 years old that he wanted to own rental property. 9 years later he acquired his first rental home and has continued to invest and build his portfolio ever since. Tyson is passionate about rental real estate and created this podcast to share his insights, opinions, and actionable tips to anyone who owns rental property. Feel free to reach out to Tyson at tyson@hometrendrentals.com

One of our long time investors Bruce drops by the office. I have about a 15 minute conversation about real estate and he shares a few thoughts on real estate that got me thinking and I decided to share on this podcast. He talks about how the price to get in the real estate game is always high, his early years of struggle with his rental properties, and his over all philosophy. This is not an interview, just me sharing what I learned in our conversation. I also talk about a young guy who stopped by the office to talk real estate. He laid out his plan, and his making it happen!If you have questions or want to contact Tyson, email tyson@hometrendrentals.com

Just when you think I can't pour anymore gas on the home warranty fire, I do! I share a story that happened 3 years ago that pretty much sums up why using a plan like this with your rental is not a good idea. Typically the most expensive thing a warranty company covers in an air conditioning unit. I break down the numbers and explain how the landlord is actually losing money, even though he got his AC unit replaced. 

Allright, I make it pretty clear within the first 10 seconds my stance on home warranty plans with rental properties. No build up there! 1% of the time, it's a good idea, 99% of the time, not so much. I'll explain why you should strongly consider managing your own risk and how home warranty companies are out there to sabotage your rental business. I share a recent story that is more the norm, than the exception. Take a listen and don't let these scum bags take your money! $$$

I had a client of mine recently ask me my opinion on a duplex made up of two, 3 bedroom apartments. I shot that email back with my 2 cents and decided to throw it down on the podcast as well. If you are into small multi unit properties, then you will want to take a listen to make sure you are purchasing the right multi-family properties. Tyson Hill is a rental property investor in multiple states and owns a successful property management company. He grew up around the rental property game and knew by the time he was 15 years old that he wanted to own rental property. 9 years later he acquired his first rental home and has continued to invest and build his portfolio ever since. Tyson is passionate about rental real estate and created this podcast to share his insights, opinions, and actionable tips to anyone who owns rental property.

In this episode we dive into a topic that is likely an afterthought for most investors. Application money! I'm a huge proponent of refundable application fees for many reasons. The most impactful reason is I use this policy to leverage applicants into being 100% truthful on their applications and many times telling me much more than a standard credit report will reveal. Tyson Hill is a rental property investor in multiple states and owns a successful property management company. He grew up around the rental property game and knew by the time he was 15 years old that he wanted to own rental property. 9 years later he acquired his first rental home and has continued to invest and build his portfolio ever since. Tyson is passionate about rental real estate and created this podcast to share his insights, opinions, and actionable tips to anyone who owns rental property.

10 years ago the thought of prospective tenants doing self showings would have been scoffed at. Now here we are in 2019 and not only is it the future of rental property, it's the present. Tyson will share his experience with self showings and detail out the pros and cons of guided showings vs. self showings. Tyson Hill is a rental property investor in multiple states and owns a successful property management company. He grew up around the rental property game and knew by the time he was 15 years old that he wanted to own rental property. 9 years later he acquired his first rental home and has continued to invest and build his portfolio ever since. Tyson is passionate about rental real estate and created this podcast to share his insights, opinions, and actionable tips to anyone who owns rental property.

In this episode we talk about the services that want to buy your property with all cash offer, no inspections, quick close, etc., even though your home is not for sale. While there are situations where this type of real estate transaction can be advantageous, these buyers are looking to buy your property at a discount so they can turn around and flip your home for a profit. I call this equity stealing. Why would anyone do this?! You owned the property, carried all the risk and liability, yet are now willing to hand that equity over to someone to profit off of? I also share a recent example of how one of my clients recently fell victim to this type of service.Tyson Hill is a licensed broker, rental property investor, and owns a property management business. He grew up around the rental property game and knew by the time he was 15 years old that he wanted to own rentals. 9 years later he acquired his first rental home and has continued to invest and build his portfolio ever since. Tyson is passionate about rental real estate and through his experiences in owning rental property and managing thousands of properties over his career, he started this podcast to share his insights, opinions, and tips to anyone who owns rental property.

In this episode we talk about the enemy of sound real estate investing. EMOTION. I share a story of a client who let emotion influence a crucial decision that cost her $50,000. Emotion, while we all have it because we are human, typically leads us down the wrong path when it comes to rental property and making key decisions. I will share 3 actionable tips to keep emotion at bay with your rental properties. Tyson Hill is a rental property investor in multiple states and owns a successful property management company. He grew up around the rental property game and knew by the time he was 15 years old that he wanted to own rental property. 9 years later he acquired his first rental home and has continued to invest and build his portfolio ever since. Tyson is passionate about rental real estate and created this podcast to share his insights, opinions, and actionable tips to anyone who owns rental property.

What is The Rental Realist and who is Tyson Hill? He may or may not be the only dude walking this planet who said "I want to be a property manager when I grow up." In this episode Tyson gives some insight into his background in residential real estate and income property. This story starts back in the mid eighties and brings you to 2019. Tyson Hill is a rental property investor in multiple states and owns a successful property management company. He grew up around the rental property game and knew by the time he was 15 years old that he wanted to own rental property. 9 years later he acquired his first rental home and has continued to invest and build his portfolio ever since. Tyson is passionate about rental real estate and created this podcast to share his insights, opinions, and actionable tips to anyone who owns rental property.