Rental Business | Two Important Things You Need to Know
Robert Elder founded Millionaire Possibilities Real Estate Investment Association. He has over 35 years’ experience as a landlord and has owned houses, duplexes, apartment complexes, hotel, office buildings and industrial buildings.
Starting from scratch he has built a present portfolio of over 400 properties, and he has experience as a Real Estate Coach and Legal Consultant. Robert personally works with experienced investors committed to outrageous success within their rental business.
Robert holds degrees in Finance, Economics, Math, along with an MBA in Accounting and a Juris Doctorate. He is a licensed attorney in Oklahoma and a member of the bar since 1996.
What you’ll learn about in this episode:
- Why owning 3-8 houses is the worst place to be
- Working on the business vs. working in the business
- Depreciation: how it works and how it can help you grow your net worth
- The advantages of contractors vs. employees
- Having a positive impact on the local economy by buying the worst houses and turning them into the best houses
- The many investment opportunities available to investors in the middle of the country
- The impact of having a 15-year mortgage vs. a 30-year mortgage
- Why turnover is the enemy and how to reduce it
- The importance of treating your tenants like customers
- The two most important things about the rental business
- Why you need to have great systems to have a great business