Software For Small Time Landlords With Laurence Jankelow
Episode 391: Software For Small Time Landlords With Laurence Jankelow
After accidentally becoming small-time landlord themselves, Laurence Jankelow and his friend, Ryan, saw a need to streamline what landlords do and solve their own problems by cofounding Avail. In this episode, Laurence joins Mitch Stephen to talk about a software that tackles issues that most small-time landlords often encounter. From Avail’s humble beginnings, it has evolved into a software for small-time landlords with an emphasis on doing the right thing for the landlord or the tenant. Don’t miss today’s show to learn about their free software and platform and how it’s helping landlords – from finding and screening tenants to collecting rents and everything in between that involves the interaction between landlord and tenant.
Watch the episode here
I’m here with Laurence Jankelow. He and his partner quit their fabulous job to go on this journey and they now have software that helps over 200,000 landlords manage over 400,000 tenants. They did this on their own to improve their own business. It turned out to be a business with about 22 employees in an ongoing concern. My hat is off to you. Laurence, how are you doing?
I’m doing well. Thanks, Mitch.
Before we get started, let me pay homage to my sponsor, TaxFreeFuture.com. If you do not have a tax-deferred or tax-free entity to which to grow your retirement or your finances in general, you are missing the boat. This is a huge tool that you should have in your tool belt. If you’ve heard about IRAs, 401(k)s, solo 401(k)s, SEPs, health accounts and educational accounts that can grow tax-free, this is what we’re talking about. Please go to their website and watch the 37 video vignettes where I talked to Tim Berry, the attorney behind TaxFreeFuture.com with over two decades of dealing in a retirement account law.
What you can do, how to maximize what you do, how to stay out of trouble with what you do, and learn to proliferate. You will not believe what your financial advisors are not telling you. We’re going to tell you what they’re not telling you and why they’re not telling you and you can do with it what you want. We’re going to give you the information to make that decision. I have no doubt what you’re going to do once you figure out the size of this tool that you should have in your tool belt. Thank you very much. You’re sitting over there in Chicago, Illinois, right?
Yes. I’m in our office. I’m only one here due to the pandemic, the good old Windy City.
You had this job. You had a few rent houses. You decided that managing it could be a lot easier. The software is free. We’re going to tell you how to get to it. It’s already free. What kind of job did you have? Who were you before real estate?
Before real estate, I was at Goldman Sachs, mostly doing data analytics, supporting some of our alternative investments in hedge funds. Prior to that even, I was at a business and risk consultancy shop here in Chicago doing most of the data analytics, helping clients with process improvement through data. I always had a knack or niche in data analytics. I managed six units on the side and those are 2, 3 units, multifamily buildings. I was doing that part-time. I had a full-time job. Those became a pain when I and my buddy were making rental applications in Excel by merging cells, painting them, making them pretty, printing it out and handing it to tenants.
We felt awkward doing that. We went out looking for software to streamline that process. Maybe take away half to 90% of the time we were putting it on the rental property so we could focus on our jobs. When we looked and saw what software was available for us, we saw that there was nothing in our price point. There is huge, large monolithic software available for landlords who have 10,000 units or so. It’s obviously out of our price range. We decided to quit our jobs and build this ourselves. Take all those learnings we’ve had with data and those things and set out on this new path and journey. We’re lucky in a lot of ways that it worked out for us. If we look back on it on a hindsight, I feel like we were two idiots not knowing what we were getting into.
If you’d have known everything you were going to have to go through, you would have never started?
Yeah. Now it’s too late, but the amount of learning we had to do since doing this on our own, it’s incredible. It makes me look back on having a boss and a manager. If I had a problem, I could go to them. When you start your own thing, it’s hard to find someone you can turn to and ask for help from. You are that person. It’s a night and day difference.
That’s where you’ve got to get some mentors or some coaches, someone who’s been down the road.
I highly recommend that to anyone doing their own business.When you start your own thing, it's hard to find someone you can turn to and ask for help. You have to be that person. Click To Tweet
You jump off and you started making the software. When does it occur to you that you’re going to leave your job and how scary is that?
Ryan, who founded it with me, we had been avid readers of Rich Dad Poor Dad, that cliché book. We knew we wanted to be starting to go down that path of financial independence. That’s why we’ve gotten into real estate in the first place. It’s why I had those six units. He was managing some single-family homes. We always wanted to go there. We knew that the next quadrant was a business owner. You could either turn your rental properties into a more formal business, which is the path you took, which is an interesting unique path. For us, we ended up saying, “Look, we’re going to go down this path and build software that’s going to meet our needs and hopefully extend it to other people like us.” That was how that all played out for us.
I don’t know that we appreciated the level of effort it would go to building a whole business from scratch. We realized like if we wanted to take it seriously, we couldn’t do it part-time while being in our job. We quit the same day that we said, “Let’s go and do this.” We didn’t try to experiment while being employed. For us, we thought that’d be unfair to the employer, but also unfair to our dreams. We took a huge risk with nothing but a napkin idea and quit our jobs.
We call that in Texas a big set of cojones.
Maybe a little bit of ignorance, more so than cojones.
Maybe a medium-sized set of cojones and a big savings account, I don’t know, but either way. It takes a lot of nerve. Hats off to you because you took a challenge and you went out. It sounds like a very stressful partnership from the beginning because there are so many unknowns. How has the partnership survived or what changes have the partnership gone through the relationship between you and your partner?
Ryan and I were friends in college so we were in the same business fraternity. We had taken some of the same courses. We’d worked together. In college, we invested in some property tax lien certificates. That’s a whole other thing to go into. If people don’t pay their taxes, you can invest in those taxes. We had seen what it would be like to work together. We had lived together for a year after college as well. We had a good idea of how that would work, but certainly a few years of working together now on something as frustrating as this. There were bouts where we wanted to push or shove each other. You worked through those. There was a Steve Jobs quote from a long time ago where he had said, “If you’re not fighting, then you’re not building the right solutions.” We took that to heart. We’ve had lots of butting heads and we’ve come out stronger.
Have you lost money together?
Technically as a startup, we’re focused on growing revenue, but we’re not necessarily aimed at profitability yet. We raise money, but every year we’re essentially losing money.
Like in the tax liens?
No, the tax liens ended up working out for us pretty well.
When everything’s good, everybody’s a good partner. You figure out who your partners are when the shit hits the fan. I was like, “Now, I’m going to figure out who my partner is.” If you can survive that, that’s a good partnership.
We certainly have plenty of those. It’s not necessarily down to the financials, but we’re VC-backed. We’ve got capitalists on our neck asking why it’s not growing faster. “10x the growth or we’re never going to give you money again.” We get lots of those threats. We never feel we’re doing good enough. We do face a lot of pressure and that puts some strain. A few years, I feel like it’s a marriage. I feel like it’s had its ups and downs. I feel like it’s stronger than it’s ever been.
Tell us about the software. What did you do for the small landlord?
Initially, we set out to solve our problems. When I was working, we had to think about it, I need to find tenants and do showings. One of the things that I hated doing was going onto Craigslist every day or trying to get it timed perfectly to do it twice a day so that it floats to the top. I felt like Craigslist didn’t give me good quality leads and I didn’t know where else to go. The very first thing we built was you create a listing with us and we’re going to automatically post it across the web to find you those tenants. We post it to Zillow, Trulia, HotPads, Lovely, Apartments.com, Rent.com and everywhere.
You don’t have to be manually doing that every day. We do it for you. All of the leads from those various places make their way into Avail so that you can see it right in one place and manage those leads easily. That was the first thing we did. We started seeing that we were getting the average landlord something like 18 to 20 leads in that first week. That was overwhelming. Even for me, that’s too many. We started adding in the capability to book showings through the website. Tenants can make a showing and then the landlord would show up at the same time. Screening tenants, we hook into TransUnion to access credit reports, criminal background checks and eviction checks.
The landlords can start to whittle down those twenty leads to the 2 or 1 that they want to rent to. For us, we found that there are a lot of legal complications with being the landlord. You have to have a lease that states or city-specific have to include disclosures, has to include specific language. We compiled all of that for the 50 states and the top 100 cities. We provide a very city and state-specific lease agreement that can be signed online. From there, tenants log in to pay their rent each month where they can set up autopay. The interaction between the landlord and tenant for a large part is happening through the platform. There are still human touchpoints you can ever take it out of the real estate. The showings are still done in person. I would still encourage that and recommend that. Maintenance oftentimes is done in person, whether it’s the landlord themselves going into the unit to make a fix or arranging a contractor.
How are you getting this product out to the market when you first start?
That was a challenge. I wish we had thought about that earlier. In the startup world, there’s a common term called MVP. It stands for Minimum Viable Product. It’s essentially what the minimum set of features you can get to market right away so you can start iterating on it and get real customer feedback. What no one ever talks about when you’re building that is MVA, Minimum Viable Audience. If in hindsight, I wish we had gone back and been working on the MVA before, or at the same time as the MVP. How do we think about building that minimum audience in conjunction with it? We hadn’t done that. The challenge is the do it yourself landlords, which is our target. It’s landlords with nine units or less. They’re not in a phone book. They’re not listed somewhere.
They don’t necessarily think of themselves as a business. It’s hard to find them. On the flip side, there are way more of them than any other landlord in the United States has something like 45 million rental units. These landlords own 24 million of them. They own about half or over half of all of the rental units in the United States. They’re everywhere, but they’re not listed. You’ve got to start thinking about being where they are, which is online. They’ll go on to Google and they’ll search for stuff like, “What do I do if my tenant’s rent is late? How do I get the tenant’s credit report? What does credit report even mean for my tenants?” If you can be there answering those questions, providing useful educational content, then they find out about you through that. That’s what we set out to do. We let you look at that as a core extension of our product is that the educational process.
You were developing free software, but you must have a premium level or something. How do you make any money if it’s free?
What we realized is like for our audience, if you have one unit, you tend to maybe potentially be an accidental landlord. You might be looking to sell the property, or you had a single-family home that you’re keeping. You tend to think of yourself as a consumer. You have a consumer mindset. You’re probably not willing to pay anything. That’s a lot of our landlords and we love working with them. We help give them a lot of the guidance that they would need because they’re not professionals yet at least. For someone like that, the software is entirely free.
The way we’ve priced it is any number of units is free. What we find is if you’ve got two or more approaching the nine units, you tend to start acting more like a business starting to be professional. You have a higher need for advanced tools like automatically for late fees, for instance. You would upgrade to a premium plan that includes some enhancements that you don’t need if you’ve got one unit. We do monetize it that way, where you can opt to go to a premium plan. We do have some transactional things too, like a credit report, criminal background check, and eviction check together. The three of those reports are going to cost $55. We make some money on that as well.
No one begrudges anybody for making some money if you deliver the needed service. That’s the whole point. Do you cap at nine? If someone has fifteen units there, they’re not for you or they are?If you're not fighting, then you're not building the right solutions. Click To Tweet
We don’t cap it. We design it for nine because the mindset’s a little different. We’ve got a lot of landlords who have 200, 300, 400 units, but they use it a little differently than the nine-unit. At 200, 300 units, you’re thinking about how do I add more properties on a regular basis? You probably have some people that you employ to help you, whereas someone with nine units probably doing it themselves may not necessarily be thinking of adding units at the same frequency. They’re probably the ones logging in and doing things. What you need is a little different. When we think about product development and our go-to-market strategy, we tend to focus on benign and fewer, but certainly this tremendous value for someone with 200, 300 units, we don’t market to them necessarily.
Technically, you started to go viral and start getting a lot of word of mouth because of 200,000 landlords. The landlords are the ones that matter because the tenants aren’t going to recommend you. The 200,000 landlords, are you reaching critical mass yet? Where you becoming famous for what you do?
I hope so. We’ve been putting a lot of effort into it. Of those several years, the first few years, we couldn’t find an engineer to build it for us for free. Ryan and I ended up being very scrappy. We decided we were going to teach ourselves to code and we built the product ourselves. In that first few years, I wrote the first 500,000 lines of code and I never touched code before. Sometimes you have to roll up your sleeves and do what you weren’t expecting to do. That’s essentially what those first few years where we struggled to try to get a partnership with someone who would give us real-time access to credit reports. How do you validate yourselves? We do payments. To be able to hook into someone’s bank account and pull money out, you have to take some coercion in a way to get a bank to let you do that. We spent the first few years working on that and building the product.
I’d say a lot of our growth happened after once it started becoming a little real. We employ a lot of different digital marketing techniques to find landlords. We do get landlords who love the product and refer to other landlords. We’re starting to see the word of mouth adoption and some virality. On the tenant side, I know you mentioned tenants may not recommend their landlords, but we see that happening a lot for a couple of reasons. On the payment side, we report on-time rent payments to the credit bureaus. We’re helping tenants build up their credit profile so that they have something. For a lot of tenants, this is the largest expense they have and they don’t get credit for it. It’s about time they get it.
We get a lot of tenants bringing on their next landlord so they can continue paying online. We also find that maybe the market is a little unfair to tenants in a way. Normally if you’re a tenant, you apply to one place, you pay $55. If you apply to a second place, you pay another $55. You may keep paying. If they use us, they’ll pay the fee once and then they can share it with any landlord that they’re applying for. They can get some tremendous savings that way. We have natural virality built that way through it. We do put a lot of emphasis on the quality of the product for the tenants because they do help us share it. We also look at them as our customer in a way.
Half of collecting payments easily and on time is making it easy for your tenants to pay. I collect probably on any given day between 300 and 500 notes because I sell my houses. I’m not a buy and hold guy per se. I buy and then seller finance. I’m collecting a mortgage payment. We use the company where people can pay it over 250 places in town. It’s real-time and that helps a lot too. I have a storage business where I have bought many storage, 1,600 people. They have online ability to pay and they can pay with anything like PayPal or Visa or automated checks or whatever. Sometimes you operate at a level you don’t know everything, but you know that you have it. I finally got to that level.
Giving them the option is critical. Let them pay the way they want to.
One of the most important things you said is you’re allowing them to get some credit for being a good payer and that doesn’t happen. Most landlords don’t offer that to people. If you’re getting good tenants, they’re concerned about their credit rating score. If they see an opportunity where they pay their rent on time, they can be given good credit towards their credit report. That’s could be a real sales tool.
We do a lot of emphasis on doing the right thing for the landlord and the tenant. Even the credit reports, we pull those acts as soft inquiries. When we screen tenants through Avail, it doesn’t negatively impact their credit score.
I want you to go to 1000Houses.com/tenants. Over there, you’re going to be able to get a free copy of the Tenant Screening Guide so you can learn how to screen your tenants. There will also be all kinds of information about this software that’s free. Check it out and see how it works and check out the company and learn what Laurence and Ryan have built for you. If you decide, you need to go to this other tier, you’re getting to be a little bit more serious about the landlording game, starting to build a reputation and build up a stream of income that you’re enthused about. Maybe you want to take it to the next level. When someone decides that they want to go to the next tier, what does that cost them? They have the right to change their prices or adjust their prices or whatever. In June 2020, what are we talking about?
It’s funny that you mentioned the changing prices because we often get people calling in who are signing up and wanting to do the premium. They call our customer service team and they ask for some guarantee on the subscription fees because they always tell us it’s too good to be true. It’s so cheap. How can you run a business like this? It’s extremely profitable for us. We try to make it affordable for everybody. The price is $5 per unit. What that allows you to do is to continue managing the property yourself. There’s a whole debate on whether to use a property manager or yourself. We try to empower a landlord to do it themselves because you get tremendous savings that way. If you can show the place yourself or collect the rent yourself, you’re going to save 10% a month on the management side, $1,000 or more a month on finding the tenant side. This allows you to do those things $4 or $5 a month.
To your point, no one cares about your money as you care about your money. That’s the problem with management companies is it’s not their money. They can’t give a damn nearly as much as you do. Plumbing leak, “We’ll get to it tomorrow.” “No, it’s a plumbing leak. You need to get to it now.” It’s 1:00 in the morning. I don’t care. We already should have someone who’s going to be there at 1:00 in the morning. Have we not planned for that? Believe me, leaks don’t happen when you want. Leaks happen when they happen. You’ve got to have a contingency plan. This is the normal guy. When it’s 2:00 in the morning, we’ve got to go to this other guy.
How much does that guy cost and have they shopped? Are you getting some price from him for volume? It’s better, honestly, especially when you’re starting to at least run the business yourself until you understand the complications of the business and the resolves for those complications. If you don’t, you’re always at the mercy of whatever someone tells you. People tell you what they want, what they hear, and what their motives demand and their motives are to make money. It’s difficult to find a management company.
The other thing, you may have a perfectly good management company. You’ve gone out and recommended it to your friends and your friends recommended them. All of a sudden, now they’re not any good because they’re overloaded. That happens to me all the time. People that are great when they start, turn out to be not worth 6 or 8 months because I’ve referred the hell out of them because they were good. It’s a double-edged sword. I get great people now. Sometimes I’m afraid to refer them. I have a way of getting people a lot of business. In The Tipping Point, I’m a Maven, I think.
They had an influencer or sales. That’s a great book though, by the way, I highly recommend everyone read that.
When I liked something, even if I’m not getting paid, I’m going to recommend it. I’ll go out and get people a lot of business. I’ve had people call me and tell me, “Stop. I can’t take it. Maybe we can help you. I have some ideas on how to flip rate your business using LiveComm.com. I don’t want to go through it here because it may or may not be for you. I sell my houses in nine days. I averaged 12% down. I average nine days on the market. A lot of that is because of LiveComm.com. It’s a phone capture system. You buy phone numbers from LiveComm and then you can set that phone number up to go to a recording where I can tell everyone everything about that house. It is correct every single time. If it goes through a salesperson, maybe it doesn’t even get answered.
At 6:00 on Sunday morning, maybe that salesman doesn’t answer. My recording answers. More importantly, it gives every single fact that is relevant to that house that I can think of. If you ever come up with something I haven’t thought of, I’ll add it to the list and it gets it right every single time. It never gets it wrong because you’ve only got to get it right one time in the recording. The system captures that cell phone number and puts it in a text distribution list. Every phone number comes with a text distribution list. You can click on a record button so we can archive the recorded calls and it goes on and on. Voice drop calls out from numbers. I have a way that they might be able to help your business.
I have 24,000 people in my text distribution lists that are waiting for me to text them the next time I have an owner financed house for sale. They have all my signs about owner finance houses. I have captured their phone number. I have sent out a text on the first of every month that says, “If you’re no longer interested in a seller-financed home, then reply with the word “stop” and get off this list right now to stop getting this.” I still have 24,000 people in my town that want to know the next time I have an owner financed house come up. I have an idea for you for landlords to promote their houses and for you to promote your software.
I use LiveComm to help real estate investors in such because that’s the pond I swim in. It can be used for all different kinds of businesses. How many businesses wouldn’t like to be able to text the people that read their ads or watch their commercials? It would be ridiculous. You can text them for $0.02 per person. What’s the biggest mistake landlords make? Especially the one who inherited a house from Uncle Bob because he passed away and he got it. He thinks this is a great time to get some cashflow.
Generally speaking, I see two mistakes that landlords make. The first is not considering yourself business from day one. Your whole mindset changes when it’s a business. You start thinking about how you can add value to the property to increase revenue, how to manage expenses and how to treat tenants as customers. Those all come when you think of it as a business.
It is how to manage liability?
Liability is huge. You want insurance. You want an LLC around these things.
You want a contract that says what you’re expected to do and what they’re expected to do. Lawsuits are not cheap.
It puts you in the mindset where you’re like, “Yes, I do need a lease agreement that does make sense.” I want tools to help me manage this. I might want Google voice to have a phone number instead of my phone number or something like that. It helps you there. The second thing I would say that a lot of lenders make a mistake is when they buy their first place. Most people are used to buying a primary residence and rental property is nothing like a primary residence. You want to base it on numbers. What cashflows it’s going to get you? Maybe look at cash on cash returns. When you make your money is at purchase because you need a property that’s going to meet the financial goals you have. A lot of people come in treating it as a private residence. They wanted the super upgraded house that they would live in. Although you want to provide a high quality of living for a tenant, you don’t want it to be your tastes and your dreams. You want something that’s going to be affordable and get them what your tenants need and meet your financial goals.Sometimes you have to roll up your sleeves and do what you weren't expecting to do. Click To Tweet
I appreciate you taking the time. Did I miss any pertinent questions or anything I should have asked you that I didn’t ask you or something you want to convey? I’m not right in the middle of your world so I might’ve missed something. Is there anything I missed?
No, you covered it. It was fair. I appreciate you giving me so much time to talk about my company, Avail. I don’t often get that opportunity talking about it, trying to do it in a non-promotional way. Landlords need tools. We provide one option. I’d recommend tools regardless of if it’s Avail or not. A landlord should be thinking about things as a process, a business and using tools to empower them, even if it’s not ours.
The goal is to deliver information and help people improve their lives. Dave Ramsey does the primal screen when people become debt-free. He would hate me because I bought my first 100 houses on credit cards many years ago. We ring the bell around here. When someone calls up and says, “I fired my boss and I don’t have a job. I am now in control of my destiny. That’s when we ring the bell. That’s what turns me on is to help people find whether they hire me or they hired someone else or whatever, whether they use my strategy that I like, my favorite strategy, or they use someone else’s strategy. I don’t care. The idea of this podcast is to help people get to their financial independence so that they can become the person that they were born to be. It’s hard sometimes to be the person you’re born to be if you’ve got to give up 2,600 hours of your life every year to making someone else money.
I couldn’t agree with you more. Financial independence for a lot of people should be the goal. You can use real estate to get you there. With the debts, there’s good debt and there’s bad debt. If you can use debt to put money in your pocket each month. The income is more than the debt payment, that’s good debt. We should load up on that.
We’ve all got those acronyms from Kiyosaki, “There’s good debt and there’s bad debt.” We’ve been trained wrong. We’ve been taught wrong from the very beginning. Not only is school not teaching us what we need to know, they’re teaching things that are wrong or even in real life, there are things that are wrong. When I go to the bank to fill out a credit application for a line of credit or something, they asked me for my list of assets. In that list of assets, they expect to see my car and my boat. Those damn things are not assets. Those are liabilities. That Jet Ski never made me a dime. Kiyosaki was eloquent and simple in the way that he put it.
An asset makes more money than it costs. Every day or every month, it makes money. That’s an asset. Everything else is a liability even your home. The only thing I argue about is home. Some people say you don’t even need to own a home anymore. I want to own the place I live in. I don’t care what you say. I want to own my house, but is my house listed as an asset? I guess so because I’m going to live in it so long that it’s eventually going to appreciate it. It will put money in my bank account. Does my house make me money on a monthly basis? No. The house is your residence. The only thing that falls in a crack there, but everything else is pretty cut and dried.
It’s either making you money at the end of the month or it costs you money at the end of the month. If I can borrow $20,000 on my credit card to buy a house and then another $10,000 on another credit card to fix it up. I’ve got $30,000 worth of credit card debt, but I can sell that house for $60,000 in the next 30 days. That’s a good credit card debt. The word credit card debt, everyone will lump it into the “This is horrible debt. Don’t do it.” No, there’s more to the story. It didn’t make you money. If it did, that’s some hellacious connections there with a credit card, way to go.
If you can find other sources of debt besides credit card, you’re probably better off there. If a credit card is what you have access to, and you’re going to make more than what it’s going to cost you, then it still makes sense.
Now you’re walking into my field. I had six months, zero interest. I would buy these houses for $30,000, $40,000 overspread over four credit cards. I would have no payments. I’d sell the house. I would send everything back. I would make my profit. I had no cost of funds.
In that case, it’s a genius because it’s 0% interest. You want to get the lowest interest you can on whatever your source of debt was.
My wife didn’t think it was very smart. We were $250,000 worth of credit bills one day before I got to the mailbox and got me divorced. I got married when I was 30. I was 30 days married. The wife will find out everything. That was the first lesson in that department. We stayed married. We’ll be married for many years. She doesn’t question me on my credit card debt anymore.
Congrats on the success you’ve had. You have 1,000 houses or adding 100 a year is amazing.
I tell everyone I graduated from La Calle U. That means the street in Spanish, the most expensive college in the world, the university of the streets will take everything you own and kick you and spit on you. There are no cheerleaders out there in the street that they’ll ruin you. Don’t do it that way. Get a coach. We pay so much money for education, hundreds of thousands of dollars and take 4, 5 and 6 years to get all this. Most coaches are not even relatively close to that amount of money. Not hardly even. You can absorb it in a much faster time than traditional education paces you at. A lot of this stuff, you can get under your belt in 30 days or 60 days. You can be off and running and having some income come in.
You get a mentor if you have the chance. What I say about that, mentors, do your research, make sure the person that you hire is doing exactly what they’re trying to teach. I don’t want to hear the theory of how to do it. I want to learn from someone who’s doing it. Make sure that person is the person that you want to be on and off the field because they’re going to mesh somewhere. If the person is great at doing business deals, makes a lot of money but he’s a shit ass when he’s not on camera, then find someone else.
I’d like to thank Tax Free Future for sponsoring this segment. You won’t believe what your financial advisors are not telling you. We’re going to tell you what they’re not telling you and why they are not telling you. Tax-deferred and tax-free IRAs, 401(k)s, educational programs and health savings accounts are so valuable. It’s unbelievable. People say the wealthy get wealthier and the wealthy don’t pay tax. Here’s a news flash for all that are out there bitching about rich people who don’t pay taxes. They operate by the same laws you do. They get out and study things like TaxFreeFuture.com and they take action on them.
You have the same potential to use the same laws and the same things that they use. Quit complaining about it and get on there and get on with the education and learn why these people are given these incentives. They’re given these incentives because they move economies. They cause more taxation than they would ever be able to pay in their lifetime. That’s a longer conversation. We can be here all day and probably have several arguments about it. Thanks, Laurence.
One last time, 1000Houses.com/tenants, go there. Get your Tenant Screening Guide and learn more about the free software. If you’re making this a career, they’re going to charge you $5 a unit to give you all these resources and help you in all these many ways.
About Laurence Jankelow
Laurence Jankelow is the co-founder of Avail, an all-in-one software solution designed for do-it-yourself (DIY) landlords that is used by more than 600,000 landlords and tenants across the US.