380: Profitable Landlording in a Crisis with Mike Butler, Chris Clothier, and Dave Poeppelmeier | Bigger Pockets Podcast
Feeling like you're in uncharted territory as a landlord? You're in good company!
Today's show walks you through how to ethically and profitably manage rentals through the COVID-19 outbreak and beyond.
Brandon and David sit down with Mike Butler, acclaimed author of Landlording on Autopilot; Chris Clothier, partner at REI Nation (formerly Memphis Invest); and Dave Poeppelmeier, owner of eight houses in Toledo, Ohio.
You'll get a ton out of this panel discussion, including exact scripts for communicating with non-paying residents, strategies for connecting tenants to government resources, a discussion about "deferment" vs. "forbearance," and much more.
Mike (500+ units), Chris (6,000+ turnkey units), and Dave (8 properties, mostly student rentals) are all in different markets and at different stages of their investing careers... so you're guaranteed to learn something you can apply in your business today.
Enjoy this episode, jump on the BiggerPockets Forums to connect with fellow investors, and subscribe to this show in your favorite podcast app so you won't miss us next week!
In This Episode We Cover:
Mortgage forbearance vs. deferment for landlords
What % of REI Nation's tenants paid April rent
Establishing open lines of communication with tenants
What tone to use in conversations about rent
Why Dave proactively reached out to his renters
Guiding tenants to government resources (unemployment, etc.)
Creating contingency plans
Mike's "Wendy's walk-up window" for rent payment
How to look for better financing in low-interest-rate environments
How to stay organized if you're getting government assistance for your business
And SO much more!
Links from the Show
BiggerPockets Forums
BiggerPockets Webinars
BiggerPockets Bookstore
BiggerPockets Podcast 224: Building a Process to Buy 17 Deals a Week with Chris Clothier
Are Your Tenants Unable To Pay Rent Due To Coronavirus? Here's What To Do!
BiggerPockets Podcast 234: Tenants, Evictions, & The Dark Side of No Money Down with Ryan Murdock
BiggerPockets Bookstore
Check the full show notes here: link
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