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Single family investors know that keeping up with rental properties and tenants can be a hassle. In addition to dealing with property management, investors must also manage tenants. While a single family rental is a great way for many to earn cashflow, it can be tough to stay organized.
Our guest this week, Gregory Radford knows a thing or two about organization. A decorated military veteran, Greg became a de facto single family rental investor while still serving in the Army. After renting out his home he had purchased using his V.A. loan, he had his Eureka moment. He saw the investment potential of the V.A. loan and leveraged that into becoming a successful single family investor.
Combining the organizational skills and discipline he learned in the Army with his loquacious attitude, Greg created a strategy for earning hassle-free cashflow through single family rental investments. Starting Radford Homes with his wife, Greg is an active single family rental investor in Polk County.
- Federal loan program for military vets to put money down on a home
- V.A. loans can be reused as many times as the loan limit allows
- Homes must be inhabited for 12 months
- Loan limits vary by state/county
- Polk County: $424k
5 Tips for Hassle-Free Cashflow
- Niche Marketing
- Strategic, intentional marketing
- Custom Rental Applications
- Send pre-scripted correspondence to potential tenants with explicit application instructions.
- Tenants who fail to follow instructions are disregarded
- Tenant Screening
- Active listening
- Asking ope-ended questions during tenant interviews
- Find out about prior residences
- Check social media
- Open House for Rentals
- Controlled open houses
- Open houses 2x/mo. cuts down on scheduling showings and creates urgency among potential tenants
- Cash-Free Payments
- Requiring proof of bank account assures tenant’s financial credibility
- All payments sent through electronic funds transfer or cashier’s check
- Gary Keller – “Hold”
- single family rental investing
- Gary Raulston – “Real Estate Principals: A Value Approach”
- Bureau of Labor Statistics – monthly reports
- On social media @Radford Homes
- By phone: (863)410-0877
- Greg is currently looking to expand into multifamily investing in Polk County