For many landlords and tenants, right now is a challenging time. With tenants out of jobs due to the pandemic, landlords with mortgages are feeling the pinch. Today’s guest, Edward O’Daniel, is here to share his experience with finding solutions for tenants during an eviction moratorium.
Edward O’Daniel is a real estate investor, broker, coach, and entrepreneur behind Veteran Landlord. On this episode of Investing in Real Estate, Edward is sharing his best tips on dealing with eviction moratoriums, how to decide if being a landlord is right for you, and setting yourself up for success as a real estate investor.
On this episode you’ll learn:
- How to decide if you should be a DIY landlord or hire a property management company.
- The best approach for dealing with eviction moratoriums in 2021.
- What you can find at Veteran Landlord.
- And more!
How to Decide If You Should Be a DIY Landlord or Hire a Property Management Company
Edward explains that this is an important decision that comes down to one question: do you want to have real estate integrated into your life or is it just an investment?
Either way is fine, but you have to know what you’re getting into. Being a landlord is a full-time job that entails finding tenants, arranging repairs, collecting rent, and much more. If you choose to manage your properties yourself, Edward highly suggests building an infrastructure to support your business.
The Best Approach for Dealing with Eviction Moratoriums in 2021
In St. Louis where Edward invests, evictions are actually back in place. However, Edward’s approach is to work with tenants who are making an effort. He suggests working with an eviction attorney who can help find local relief programs.
Edward explains that the best thing you can do is communicate with your tenants and help them in any way you can. Be open and compassionate, because many people are suffering during this time.
What You Can Find at Veteran Landlord
At VeteranLandlord.com, you can get free access to the Landlord Starter Kit. It is totally free to join, and you can learn about the five necessary pillars to property management. Veteran Landlord’s mission is to help investors create a more efficient and profitable plan for managing their properties.
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