Ok, so I am buying as many houses as I can right now. I have closed on 4 houses in 3 weeks and I am trying to buy more. I have just had a short sale accepted this week that we have not yet set a closing for because I am waiting on the bank. So, to give you an idea how hot the rental market is in my area get this, I was taking a look at a house yesterday that I am getting ready to rent and the contractors just finished it up. I was walking from the garage to the house when I saw a car driving really slow by the house, then all of a sudden it pulled in and I thought that maybe it was just going to turn around when instead she pulled up and asked me "is this house for rent?" I said "well not yet, but it will be in a few days". She said "well I was just driving around and heard there was a house being fixed up in this area so I thought I would drive by, can I look at it?" I said yes and she walked through it and really liked it. I asked her what she was seeing for rent out there and she said "nothing!". Can you believe that! It wasn't even advertised and she went driving the neighborhoods to find a house for rent! Now that is amazing but it gets even better. Today, I am driving and I get a phone call. I don't recognize the number but answer anyway. Keep in mind I don't take phone calls for rentals because I don't manage my properties, I manage the property manager because I don't want these phone calls. So I answer and the guy says "Hi my name is Bryan and I was driving through Rock Island through some nice neighborhoods and noticed a contractors truck parked at a house so we stopped and asked if the house was for rent and the contractors said it was going to be as soon as it was done and we looked at the house and really liked it so he gave us your phone number. We are very interested in the house, we are from Colorado and are moving to the area and can't find any rental property available in the nice areas. Can we give you a deposit and 3 months rent to hold the property?!!! Can you believe that!!!! Two days in a row! I just closed on that house 13 days ago and don't have it adverstised yet! Unreal, so I put them in touch with my property manager, he ran their credit, did the background check and we have the lease signed. I get on average 2-3 phone calls per day asking if I have property available and I DON'T HAVE AN ADD RUNNING IT IS ALL WORD OF MOUTH!!! I just had someone move out of my houses (which rarely ever happens) at the end of a one year lease and I asked my property manager if we can adjust the rent. He said yeah we going to bump it up and extra $100 per month and that way it should go very quickly. This is crazy. To get $900 rent for a house that I bought for $53,500 dollars and didn't have to rehab is amazing. I just can't get enough of these single family homes. Here is the cool thing. Imagine if you owned 20 homes and you could raise the rent $100 per month on all of them. You just gave yourself a $2000 per month raise. I love it!
You've got to find your obstacles and call them out! Unsheath the sword, and do battle with whatever it is that holds you back!