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The sob-stories; the hard-luck-tales; the down-and-out pleas. There are many reasons tenants might ply a landlord for a special leniency or exemption. Whether these are legitimate reasons or or not, landlords and property managers can end up assuming a lot of extra stress on a property by allowing tenants to take advantage of a situation through emotion. Sometimes, the hardest thing for investors who manage their own properties to do is tell their tenant “no”. It is easy to put yourself in someone else’s shoes, but at what point can empathy hurt your investment? Real estate investors need to know how to keep tenant turmoil at arm’s length when it comes to the viability of an investment.

Adrian Smude may know better than any the importance of managing interaction with tenants. As an investor in single family residential properties in and around Plant City, FL, Adrian has experienced the short-comings of allowing tenants unchecked leniency. Adrian’s start in single family residential investing stems from an unpleasant tenant/landlord experience: eviction. After being evicted from a rental house in college, Adrian ended up purchasing his own single family property and converted into a multi-tenant rental. Wary of the poor experience he had as a tenant, Adrian opted towards a more empathetic approach to landlording. Eventually, he found his tenants abusing their privilege. Adrian had to find a way to separate himself from thinking like a tenant and more as a landlord. Adrian adopted a system that put distance between himself and his tenants while avoiding the hard-line approach. Join us for the first episode of “Landlord Tales” as we discuss holding rental properties in a land trust.

• Land Trust
  • Property placed in name of land trust. Property owners can designate themselves as trustee, separate from beneficiary
  • Managing property and tenants becomes easier by separating function as landlord from property owner
  • Adrian learned this method from veteran local investors Jack Shea, Larry Harbolt and Mike Warda

Adrian is actively in the market for single family residential properties and mobile homes of up to $120k in areas around Hillsborough County and Polk County, including Brandon, Plant City, Lakeland and Winter Haven. If you believe you may have a potential investment opportunity, contact Adrian at (813) 720-7874.

The post Ep. 98 Adrian Smude: Landlord Tales – One Method of Creating Distance between You and Your Tenants appeared first on Real Estate Investing in Florida.

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Who is this man and why is he smiling?

This man is Bijan Gorji, a real estate investor based in Sarasota, FL. Bijan is a special kind of investor though. Bijan invests solely in one asset class–one often overlooked by other real estate investors–residential condos.

Bijan believes that residential condos as an investment asset class have been an unfairly neglected market for too long. Where others see problems, Bijan sees potential… and it is paying off well for him. Since moving to Sarasota from California in 2012, Bijan and his wife have acquired a portfolio of over 35 residential condos with plans to continue investing in more residential condos. This episode, Bijan will discuss why he settled on residential condos as his chosen asset class and why it should appeal to investors from a financial standpoint along with providing a brief overview of Sarasota’s real estate investment market.

• Pros of Investing in Residential Condos
  • Easy property-management compared with single-family
    • Low upkeep costs
    • Ability to self manage properties
  • Tenant profile allows fluid leasing
    • 1-2 bedroom units to working professionals or grad students; no families
    • Tenant turnaround quicker
  • Buy-and-hold investment w/ monthly cashflow
  • Hands-on investing allows oversight over all facets of investment
• Investing Tips
  • Check HOA regulations for condo before investing
  • Find properties within driving distance if self-managing
  • Finding tenants is biggest issue with residential condos: list on Craigslist, Zillow, Hotpads, etc.
• Sarasota Market
  • Huge amounts of construction (Multi-family and Single-family)
  • Rents steadily increasing across all sub-markets
• Inspiration
  • Residential condos offered stable investment asset class
  • Rich Dad, Poor Dad – Robert Kiyosaki

If you think you have an investment deal or if you have more questions about how to make money investing in residential condos, contact Bijan directly by email at bgorji@gorjillc.com

The post Ep. 95 Bijan Gorji: Making Money with Residential Condos appeared first on Real Estate Investing in Florida.