NEVER say THIS 1 THING

[@HomesteadOC]

Im the “maintenance” guy at my units. The tenants always ask me for stuff, but I have to run it by property management. I do the improvements and upgrades, but dont do the repairs. Definitely helps the tenants stay friendly. I also show up with a 16 year old car with a cracked windshield and have a maintenance uniform.

[@MeetKevin]

You are brilliant!!!

[@kimmer6]

I love it. I tell tenants that I'm just the ''Property Mis-Manager''. That always gets laughs. Up until last year my car was a 1992 Geo. My truck is a 1986 Chevy 3/4 ton diesel that I can leave the keys in and nobody will steal. I fix everything promptly and tell tenants to not say anything to the owners even if they broke it. I cover for them and tell them that I'll slip the repair in with other stuff and nobody will find out. The tenants like me.

[@kimmer6]

I rented a house in the early 1980's. The owner was from Portugal and his wife spoke no English. Every Sunday he would show up in their new Mercedes in a suit along with his finely dressed wife and 3 young daughters. They just came from church but would line up in front of the house on the sidewalk and point, jabber, and say things in a derogatory tone. This was a 10 minute ritual EVERY Sunday morning. I put up with it for a few months, then confronted him. He said that it was ''very important to let tenants know who the landlord is''. I was there for 2 years then found a killer deal and bought my own house. I was responsible for the water bill and gardening. I kept his place nice. After I moved, his new tenant let everything including the lawn die out. Some years later I found myself owning rental houses and an apartment building. I vowed to never talk down to renters. I was in that boat and applied my feelings in all of the dealings with tenants. It worked well for me just to be the ''maintenance guy''.

[@thestrappingentrepreneur2822]

My car is cracked up I need to buy a maitnance uniform!

[@kimmer6]

Brad, stand there scratching your butt in your coveralls and then pick your nose while talking to the tenant. They will be 100% sure you don't own the place. NEVER show up to your building in a Ferrari.

[@whoareu-podcastaboutlifeat257]

The tenant doesn't need to know everything. But as a tenant, I would probably want to know everything lol.

[@CanadianRealEstateChannel]

HAha 100% Agree!

[@MeetKevin]

haha so well said

[@themarathon6217]

That's so true. I'm looking for my first house hack and looking at using a manager just to separate stess.

[@sidehustletips]

Wow, this makes so much sense. I wish someone had explained this to me years ago. The time I when I was a very young and green landlord left me utterly scarred emotionally. The amount of hatred and jealousy I experienced from some tenants baffled me. After watching this video, it all makes sense. Whenever I become a landlord again, I will know what to do.

[@MeetKevin]

Thank you! Glad it helped

[@SpicerCapital]

This is brilliant, Kevin. Finding a good, trustworthy property manager was the best thing that ever happened to me (...my 2nd one sued me when I was 23... but that's a story for another time...). I often tell my property manager to just blame things on me. That way, the tenant feels like they have someone in their corner-they share a common enemy... me!

[@MeetKevin]

So right on! Third party at its finest!!

[@MS45636]

Man i hated being a tenant, best landlord i ever had was a large company who held huge tons of property.

[@MeetKevin]

I bet! They follow the rules haha

[@johnwinnerdz1]

Ask them

[@jvance6]

@@MrRogersTrolley yeah my best time as a tenant was a guy like that. He always fixed things promptly.

[@colinthepilot]

Love this! I've never met any of my current tenants. I personally showed up once to install some window AC units to get my tenants to move in before I could get the central air repaired (it died on move in day, of course) and they knew I was the owner. They ended up bargaining hard on the renewal, got me to replace the floors, then didn't renew. My next property will be house-hacking a multifamily, and I plan to use a manager for the other unit just to avoid this situation.

[@MichaelJayValueInvesting]

Really enjoyed the pacing of this video! Very direct and adds a lot of insight on the value of a good property manager.

[@MeetKevin]

Nice thanks Michael! Yeah a bit different from the vlog style for sure

[@CanadianRealEstateChannel]

That physiological attachment can be hard to break if your self managing your properties - but very important to be aware of. Great Video Kevin!

[@JZBZACK]

So the lesson is: Turn off emotion during decision making. It clouds judgement and prolongs solutions.

[@MeetKevin]

That’s a hard switch to switch! It’s more like a dimmer LOL

[@lapatria100]

Kevin. I'd like to see a video on how you started and your earlier days :). How you came about, and such.

[@MeetKevin]

You got it. Meet Kevin exposed!

[@richardsanchez9190]

This is the great question. To do it yourself or have someone else do it. One saves you money but stresses you out the other costs money but less stress.

[@ashylegz9647]

Great video and content, I have learned so much from you. Could you possibly do a video on creating an LLC for properties. Also I was curious as to how you set up your leases, are they generic from a lawyer or property management.

[@Thechessmaster08]

Thank you for this video. I think this was the one piece of advice from previous videos I was struggling with. Makes a lot of sense.

[@MeetKevin]

Thanks for that Bob! Yeah I was surprised it too me 15 minutes to get this all out but I think it was useful for that reason -- thanks for reiterating / supporting as usual! VIP!

[@joemace7127]

I have had a single family rental for 12 years and never missed one month of rent...always rented under market and rarely ever hear a peep form the tenants. Never spoken, but mutually understood that lower rent equals no calls unless emergencies arise. Try it, I bet over the long run you make more or at the very least break even without the sleepless nights. Another added bonus is the rent is in my bank account by or before the 1st every month!

[@roundedges2]

Nah--my experience is relunctance to report problems, leads to problems being allowed to fester and get worse till the place is falling apart. Lo and behold, you've got a delapidated slum without even knowing it--by the time you learn of the leak, the moisture has destroyed the room and costs WAAAAY more than if you could have changed that faucet.

[@KA-iq2ko]

Kevin please do a video on how to evict bad tenants. Thanks.

[@MeetKevin]

Yikes, you having trouble?

[@KA-iq2ko]

@@MeetKevin Not right now but it would be a really great video.

[@allydeo4388]

Hi Kevin. My husband and I own 3 properties and we have a property manager. It is money out of pocket but definitely worth it. My husband is very "baby faced" and much of the time we are renting our units out to people older than us. So I really agree with this video - great channel and advice :)

[@MeetKevin]

Love that Ally!! Agreed -- management is SO worth it!

[@JESUS_IS_GOD]

Tough Pill to swallow, but you are absolutely 100% spot on with this.

[@MeetKevin]

Ah thanks! Yeah it's tricky to get over that hump and do it.

[@garrettsmotivationvideos6356]

Awesome video man! Trying to buy my first rental property soon!

[@MeetKevin]

Nice!! Stay in touch with questions!!

[@nimravus01]

Hi Kevin. I'm house hacking in a duplex. I was renting the unit, the landlord decided to sell, and I was in a position to buy. The property was already being managed through a local management company, so, I just switched from being a tenant to the owner. I have been owner for over a year now and have never told my neighbor (tenant) that fact. It's great: no midnight knocks on the door or texts or calls, and the company handles all the paperwork and any maintenance issues. Thanks for the video! I hope all landlords watch and heed your advice.

[@tyler350]

Do you have a minimum service call price in your rental agreement? Like if the tenant calls for a repair and the property manager has to come out the tenant will be responsible for the first $50 of the service call?

[@MeetKevin]

Great question -- nope. We do make it clear on the phone though that if the tenant is responsible for the cause of the issue, the bill will be their responsibility. If it's not their fault, it's all on the owner/us.

[@bob15479]

As a renter I can tell you the part about picturing your owner's face is 100% true.

[@g.germany2477]

14:45 I tried to buy a property in a LLC. I even told the mortgage company that I would pay more than the 20% down payment. Got denied because the LLC wasn't in business for more than 2 years. SMH! The only way I was going to get that property is if I used my name on the deed and make the property my permanent residence. FHA loan 0% down. They were very willing to give me that offer. SMH!

[@mitchell.9632]

Thanks for going in depth on the middle manager on property management. Or if not applicable to consult managers, spouses, et cetera. That you are not the sole decision maker.

[@johnboykin3128]

I attempted to hide my ownership, but it's impossible. However, all my tenants have released 3 times or more and I respond to all problems right away. I do not mind taking care of minor and major issues.

[@Kauffman578]

Why impossible?

[@fullauto1125]

I have tenants that pay in cash, I put drop box on my porch lol probably not best idea but so far worked well. Most my renters college kids.

[@1life857]

I love your videos Kevin, thank you for sharing your knowledge. Please allow me to say that the right way to pronounce the word concierge is concierge like it's written, say all the syllables until the end (ge is also pronounced). All the best!

[@MeetKevin]

Thank you!!

[@bkucenski]

Food on the counter can't attract bugs that aren't already in the house. And if there are bugs in the house, you probably have places around the house letting them in even when the doors and windows are closed. You can leave food on the counter all you want if your house is properly sealed. Something that cost me all of around $500 for a 1400sqft property. An advantage of living in a property for a year before renting it out is better lending terms and you get to experience all the problems of the house and resolve them so you won't hear about them from a tenant.

[@aaronliebling3204]

Isn’t it trivial to find the owner of a property by paying a small fee for a search or just visiting the tax assessor?

[@kilom97]

How has becoming a “public figure” in a sense has affected your tenant-landlord relationship?

[@MeetKevin]

Oh wow thanks for that compliment. I never interact with the rentals. I once showed up to help get our contracting company started on a roof repair and they seriously thought I was just the contractor even though I came with my wrapped car. The benefit of Lauren doing it all :D

[@MillennialMike]

Kevin you're the man. I'm building a channel off of you and a few others KZbin advice

[@you2449]

This makes sense. As a Renter, I walked into the Property Managers office, and the Owner was there. And I couldn't help thinking "Hmmm, so That's the guy whose giant Bel Aire Mansion I'm paying for. "

[@KathrineAnnVlogs]

What do you say if you're house hacking? I'm about to buy a deal where my family and I are going to live in the guest house and rent out the main house. Obviously, they will see us living right there. How do we introduce ourselves?

[@MeetKevin]

Love it! You’re the managers 🤣

[@KathrineAnnVlogs]

@@MeetKevin I feel like that's kinda sketchy tho, the managers living on the property...

[@YESITSWILL]

A friend of mine owned a rental property that had bad plumbing. One day I hear him asking his tenant why can't he just go to the 7-11 and wash up in the bathroom instead of him making repairs.

[@MeetKevin]

LOL

[@coolshotimagery4109]

How does this work if you are living there? If you decide to rent out a room or even have a duplex and live in the other unit, how do you hide?

[@BrentInvesting]

Hey Kevin, On a Side Note: If you work with Investors who provide the equity for purchase what % of the total Net Income does your company retain for your services? (Finding Property, Having it Contracted For Rehab, Check-Ins, Listing/Promote Listing/Etc) what % cut do you take of the final deal? Do you do a 70% Investor / 30% Split ?

[@busywrite]

Great advice, totally agree on this. I have a middle man/property manager and I was trying to be too hands on with the property. I do drive by the property but the property manager has been really good at pushing back on my instincts to want to check on the house and wanting to do more (e.g., do handy man work). I realize that it is best for me to stay out of it and let the property manager do their job.

[@MeetKevin]

Nice personal example! Yeah it's a transition; to let loose your property to someone else so to speak. Glad you've made the transition!

[@donaldlee6760]

We plan to rent our current house in the next year. I am extremely handyman which is kinda important in the SF Bay Area where hiring trades is insanely expensive. I just fixed a sewer ejector pump for $450 that I was quoted by a plumber at over $5000., I also enjoy doing things that I've never done before, like studying the nuances of taxes or property management. I'm conflicted about hiring a property manager when the time comes, and with only 1 property it may be somewhat expensive.

[@gailnext]

a good landlord just gives handyman petty cash or "don't call me if its less then $300, just fix it". I did property maintenance thru college and made it a policy. Take pics of work and receipt and the landlords (boss) were so happy. Landlord collects rent with no hassle.

[@MeetKevin]

True - gotta have those connections

[@joevsyou]

Upvote for the GP gold.

[@MeetKevin]

heck yeah thanks so much!!!

[@rmt3589]

I'm not the only one that noticed the Runescape gold!

[@gojkovicde]

Wait, what was that at the end again?Can you please make a video about how to bring property to LLC and how to buy with/using LLC? You can safely assume no LLC exists, so start from the very beginning. cheers!

[@cynrose5945]

Haha, this reminds me of the current house I rent. My partner and I went through a rental company so we never knew who the owner was. After the first month of living there, the owner knocks on the door one morning just to introduce himself to us as the owner. I had just woken up and was in underwear basically. It was pretty weird.

[@MeetKevin]

SUPER WEIRD!! Wow Cyn! That's definitely awkward. It's really an ego example. What other reason is there for that? Geez.

[@generalCorpse2]

Great advice Kevin but I do have one question. If you call your self the “property manager” without a partnership won’t the tenant know you are the owner when you sign the rent agreement?

[@MeetKevin]

We slightly touched on this a bit towards the end; could have missed -- In our area we use the California Association of Realtors rental agreements which say "Landlord" hereby rents the property. A landlord can be the owner OR property manager

[@dagainsta6253]

How do I go about finding all the problems within the first, second, third, etc home you purchase? Is there a specific person you can hire to do an evaluation on plumbing, electrical, roof, walls, etc. Where this person tells you how long you have until it becomes a problem. This way I can be aware of the issue before tenants rent.

[@castlerc]

You are absolutely correct! I will be changing my approach due to your video well done and thanks.

[@troymason4799]

but doesn’t the tenant know who the owner is when the tenant signs the lease?

[@stevethecpa]

Thank you so much Kevin, this content is so so valuable! Will be staying tuned in my search for a first rental! ALSO! Is that 1m GP picture on the wall just printed on paper or what is that? I love it!

[@Ohem1]

What if the tenant passes away? What's your process? When my father passed away we (me and my uncle) had one month to get all the stuff and paper in one month so the landlord could hire the next tenant for the upcoming month. While understandable in the business sense, but a tad short timeframe when mourning a relative.

[@ymararma]

I had never heard “tenants and toilets” but it’s 100% accurate. Sharp links and tie bar!

[@MeetKevin]

Double thanks ymararma!!

[@scotto8199]

Good video. That is interesting how physiological it can be and I feel like that can affect a lot of other types of businesses.

[@MeetKevin]

totally carries over to a ton of industries

[@mmcali11]

Hi Kevin, thanks for putting out these great videos. You and graham have inspired me to try house hacking. I’m just now in contract with a house. Would you happen to know where I can find a great rental agreement or at least point me in the right direction? Thanks again for the great content

[@mmcali11]

Michael Scott thank you and happy investing my friend

[@Naiven111111]

I would love some further explanation into these LLC companies when it comes to properties. I have been dealing with properties myself in a financial perspective and wish finally start buying under a company to further distance my self from sole ownership in a sense as well as separate entire financials from other accounts. I understand partially in terms of having a tenant pay to a company but, perhaps there is something else I could learn as well.

[@Jefferwee]

If you open an LLC can you write off your living space as an expense? Also would you still be able to qualify for residential loans and not be subject to commercial loans? The thing with with LLC is that you'll be subject to higher taxes is all?

[@MeetKevin]

Check with a CPA to verify this, but LLCs are pass-through; no special tax other than state filing fees. Having your home in an LLC doesn't mean you can write off your living space. You generally can still get residential loans in an LLC if you're the full owner. You'll still have to personally guarantee it though, which defeats the point. Some lenders will make you buy it personally and then transfer it to your LLC later.

[@Jefferwee]

Meet Kevin ty for the quick reply Kevin!

[@paalwik7791]

Do you use those foam acoustic panels to dampen the sounds from your kids in the other room? I'm thinking about getting some myself. Do they work well?

[@MeetKevin]

Negative -- these help reduce echo from the tile. Sadly, they won't silence any sound from outside (but they do help minimize any sound that comes in from echoing). Only "mass" will (thicker walls, sealed doors, etc.).

[@Coachat]

Paying a middle to manage the property means you have to pay the middleman and sometimes even mange the manager.

[@MeetKevin]

cost of biz

[@TheTruthIsOutThurr]

Great vid G. Good advice. I’m not gay but if I was, I’d shake your hand and hold it in a prolonged way.

[@dirgesinthedark5637]

They can find out with 2 clicks who owns the property. You just made a case for LLC's. Can you own property in a fictitious name?

[@Nors1e]

Wow! What a fantastic video, binge-watching everything you have If i own 1 rental property should I start an LLC and place the asset in the company or wait until I control multiple rental properties?

[@MeetKevin]

I generally don't because it's expense to get an LLC registered in CA BUT many people do. I recommend good umbrella policies for insurance.

[@TonyMontana-fs3lu]

I have my landlord on text. I just replaced my bathroom exhaust fan today and sent her the receipt. $40 I deduct it from my rent

[@donaldlee6760]

Your the type of tenant that a landlord/owner is in love with. I was just like you and rented a house in a sizzle-hot neighborhood for 11 years, with no rent increases for 11 years. In my case the landlord lived out of state so changing tenants would have been a bigger pain than if the landlord lived in the same city, so that worked strongly in my favor. When I finally moved out, I paid $1000 out of my own pocket to have the hardwood floors refinished and oiled by a pro - it ended up looking like out of a magazine cover. You should have seen the look on the landlords face when she flew back to California and opened the door to her house.

[@kebman]

This is great advice. Ooops, sorry. I'll have my communications manager manage my reply. He told me to tell you that this was great advice. :D

[@jeanalexandre1105]

But you forgot to tell them having property in a LLC is subject to higher taxes. Also in housing court you cannot represent yourself in court you need a lawyer. Which add even more cost.

[@waschell1]

I think it's good to keep separate from your tenants but it would be lying if you pretend to just be a handyman or not tell them you are the owner if directly asked. If you ever got found out they would never trust you about anything after.

[@MeetKevin]

Definitely true - if you get asked directly I recommend answering that “I do have an ownership interest, but I’m not the decision maker.” The latter only if true

[@supremeleadergeorge1277]

Great content...What if your tenant who's been great lets go of the yard and is no longer staying on top of it

[@nevadam505]

I work at 6:45 tomorrow morning and I'm over here watching this at midnight

[@classifiedinfo9853]

Question: what happens if a tenant uses guilt tactics to throw off a landowners judgement, then uses the victim card against them. The landowner forgives them and then lets it go. However, when questioned or having something brought to their attention, they use the same tactics they used before? What can be done with such behaviors displayed by tenants?

[@jeanalexandre1105]

I hear everything you're saying but if you only have one property or two the fees you have to pay the property manager may not worth doing this in the first place

[@Alexlfm]

Jean Alexandre Also there are tons of bad property management companies. A friend of mine with just one house as a rental had a company that landed him the tenant from hell, the property management company gave them HIS phone number and they charged him all the fees when she only paid for 6 of the 12 months she was there... I do the few I have myself but keep them in an LLC owned by my parents and me. Otherwise you’re hoping the value will go up since your not getting hardly anything in rent. Especially with yearly turnover.

[@Mr_Clean]

I rented in a two-unit building from a guy for over 10 years. I Work on cars a lot in my spare time. If something broke or needed replaced or repaired or whatever I just did it myself and put the receipts in with my rent check and he would reimburse me

[@Chungster228]

Great tip Kevin! 👏

[@MeetKevin]

as always michael; thank you so much!

[@aj-li4ly]

GREAT ADVICE, thanks Kevin

[@moneytalkradio6597]

kevin!! you played runescape!? I see the gp in the back!

[@MeetKevin]

heck yeah I did!!

[@kenan2008able]

Kevin your early Videos are insightful. Grüße aus Düsseldorf

[@tracyschultz2613]

Very good advice on all this.

[@MeetKevin]

Thanks Tracy!!

[@Quodge]

Are you legally obliged to tell them you’re the owner?

[@idawillis5997]

Awesome video as always. Thanks!

[@4CardsMan]

I was a copier technician for many years, when copiers were notoriously unreliable and customers were always negative. The trick is not to invest in repairs already done. It's like poker. Once your money is in the pot, you can't touch it.

[@BluesClues2s]

Does this mean it's a bad idea to buy a duplex or other multifamily with the intent of living in one unit? I was considering buying multiunit as my first property but this video has me reconsidering.

[@pp2072]

We own 2 45 unit apartment buildings a few blocks away. I’m always afraid that they’ll see where I live. We claim we work for the management company

[@samuelbuis6587]

You guys should have just hired some especially with 45 units that’s a lot to take care of and if they find out that would be terrible lol

[@casewhite5048]

TBH it happens with patron to you mean you needed funding for a new lighting setup but now just 2 months later your flying across countries and going on vacation. Its kinda like that friend who owes you money but never pays you back but always goes out to eat and to different events and buys stuff they don't need . but only kinda like it.

[@ricardovaladez5676]

Hey Kevin So I'm looking to buy my first home and was wondering if I could use my wife's VA loan? I'm the main income And she is unemployed but gets a Veterans check every month for going to school.

[@MeetKevin]

Yes you can 😁

[@KathrineAnnVlogs]

That's what we are doing! (My husband's active duty rn)

[@BarlowJacob]

It's so easy to find out who the owner is. I can't be the only one who always looks it up

[@JuniFFXIVChannel]

Excellent video. 10/10

[@MeetKevin]

Thanks so much!

[@dirgesinthedark5637]

14:49 or you pay the doc stamps to make it look like a sale. In my case I may have to do this.

[@SkillzUBeast]

Kevin, random question. Do you ever take anything you learned from OSRS and apply it to your profession? I used to play and now I'm a concrete contractors for commercial work and do pretty well.

[@MeetKevin]

Probably -- I feel like OSRS was a big social experiment. People talked before there were bots. It was amazing!

[@craigistheman101]

What should you put in your lease as an owner?

[@SamGarcia]

If I ever host a real estate YT channel, I, too, will put in the background my favorite video game currency of choice, probably Saint Quartz.

[@MeetKevin]

Nice!!! Love that idea!!

[@orvillexavierdavis2503]

Awesome. Great advice

[@greghouser2617]

So how about states like Minnesota where you are legally required to reveal ownership to tenants?

[@zmanchris]

I love the RuneScape gold on the wall behind you, that's a good goal for the real bank account

[@joestrandelldoteth]

Thoughts on Fundrise?

[@AmanBansil]

Wow. That was Uber interesting. Really good info.

[@YESITSWILL]

Love the tie.

[@MeetKevin]

TY!

[@TheScholar0]

Hey Kevin, how does someone go about finding a good property manager?

[@MeetKevin]

Interviews, reviews, reference calls, then ya just gotta try 'em out

[@dannyisrising1201]

Do you have examples of what a tenant contract should include?

[@MeetKevin]

That would make a good video. Are you in Cali?

[@dannyisrising1201]

Meet Kevin yes I live in California and will be tuned for that future video✌

[@Shadowmanners]

Love the runescape 1000k gc image on the back

[@dwightrivera3281]

Awesome info kevin.

[@Frank78507]

great info !

[@4Borings]

Kevin, Great advice! Thank You!!

[@MJ-ge6jz]

This was gold mine info! Thanks!

[@jessicaburroughs5763]

This makes me realise how lucky I am cos I knew who my landlord is from day one and it's been good from day one. Had *horrible* experiences with property managers treating me like trash because they work for slum lords and they expect me to be a nightmare tenant cos they deal with nightmare tenants. I'd much rather know my landlord, and make a point of doing a walk through on rent day for the first month, or few months, and even periodically after that to show I keep the place tidy. On the flip side, I can see how having a property manager might have spared me a couple of annoying texts. The quality of the property manager matters, I mean, I've walked through some houses managed by property managers and I wouldn't rent them for being so scuzzy, and not maintained, and like I said, I've had bad experiences with really nasty property managers.

[@rychei5393]

Hubby and I devolved to good cop bad cop. We rely heavily on each other.

[@brightonearly9240]

Hi Kevin, love your videos! How do you handle not telling your tenants you are the owner when you live in a duplex with your tenants? I can see a way saying to them that your the "property manager" while living there, but that seems kinda ridiculous. I've never known any property managers who lived in the same duplex as the tenants..

[@as11156ffg]

Kevin, in your experience what do property manager usually charge? I believe it is a percentage of the rent correct?

[@MeetKevin]

Yeah 7-10% plus rental fees/placement

[@as11156ffg]

thanks!

[@calstancill]

First month's rent (if they find the tenant for you) and $100/month in my experience.