Discover powerful strategies to maximize your rental property returns and minimize costly vacancies. Learn how top investors are transforming their approach to property management, from tenant retention techniques to smart staffing solutions.

Key Insights:

• Master the art of keeping great tenants and reducing turnover

• Understand when to scale your property management approach

• Explore innovative investment opportunities beyond traditional real estate

Market Trends Spotlight:

• Rental demand is on the rise

• Emerging investment options offer unique wealth-building potential

• Strategic diversification is key to long-term financial success

Explore alternative investment opportunities like sustainable teak forestry - a generational wealth strategy that offers:

• Low entry point

• Long-term growth potential

• International diversification

Whether you're a seasoned investor or just starting out, these insights will help you make more informed, profitable real estate decisions.

Resources:

Learn more about the teak tree investment opportunity at

Gremarketplace.com/teak

Show Notes:

GetRichEducation.com/555

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GREmarketplace.com

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RidgeLendingGroup.com or call 855-74-RIDGE 

or e-mail: info@RidgeLendingGroup.com

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Complete episode transcript:

 

Automatically Transcribed With Otter.ai 

 

Keith Weinhold  0:01   

Welcome to GRE. I'm your host. Keith Weinhold, learn how to reduce a giant operational expense that you'll have over time your tenant vacancy and turnover, including how many units you must own before you hire your own on site property manager as your employee. Whatever happened to agent commissions in light of last year's NAR settlement, then a timely update on teak tree investing today on Get Rich Education.

 

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You're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education.

 

Welcome to GRE from Manchester, New Hampshire to Manchester, England and across 188 nations worldwide, I'm Keith Weinhold, and you are back inside one of America's longest running and most listened to shows on real estate investing. This is get rich education. What's all that stuff really mean? I'm just another slack jawed and snaggletooth podcaster, a shaved mammal with a microphone. I'm joining you from here in London, England this week for the first time ever on the show. More on that later. Let's talk about reducing the biggest operational expense that you're ever going to have as a real estate investor, at least the one that you can exert a good measure of control over. That is reducing your tenant vacancy and turnover, that constant menace. Now, I suppose you might say that property tax is your biggest ongoing ops expense, but you've got less control over your property tax rate. So yeah, we're talking about increasing your net income by lowering your VIMTUM operating expenses. Vacancy is the V in that acronym. This is big because this can make or break your ability to have your property create positive cash flow and getting tenant turnover right both increases your income and reduces your expenses. It is springtime currently, and it's soon going to be summer, so it is the right time to talk about this. It's when there is more tenant turnover. The goal here is for you to really move the dial in increase the likelihood that your tenant is going to renew their lease. Now, sure if your tenant gets a new job out of town, they're going to move out. But if they're moving because of too many maintenance issues, well then that's something that you could have fixed. The average tenancy duration in the US over time is two to three years. And of course, that's going to be longer in single family rentals and shorter in apartments. And how long your tenant stays is driven by three factors, the price of your unit, the quality of your maintenance and the quality of your management. Let's say that your tenant moves out. To be conservative, that your vacancy period is two months between tenants. Okay, that's the turnover and the time to lease. It two months is a somewhat longish vacancy period. But come on, it happens sometimes, especially if you're going to make upgrades bet