LANDLORD PROFILE INTERVIEW:
Name:
Jason Lucas
City:
Harrisburg
State:
Pennsylvania
Any Unique 'Local' Landlord Requirements?
Unconstitutional anti-landlord ordinances.
Number of Rentals?
46
Years of Landlording Experience?
11
Hardest Job?
Being defendant in frivolous lawsuit.
Your Biggest Mistake?
Not buying certain properties before 2005.
New Landlord Advice?
Buy your rental units as far under market value as possible. Don't be too aggresive on rents until you are more experienced. Don't over improve. Try to avoid carpet.
Favorite Type of Resident?
Somebody that fits my profile as a long term renter. People in short term rental situations that are normally homeowners or bounce around tenants need avoided.
Best Way to Find/Attract Residents?
Craigslist using postlets, signs, word of mouth.
Favorite Application Question?
On my application I make sure they fill out make and model, license, ss# for screening but also for future collection reasons.
One Way to Keep Good Residents?
Reasonable rents.
Favorite Rental Clause?
Waiver of notice to quit.
Money Making Cash Flow Tip?
Get your game down before going all out and going big. Work on cashflow issues hard, lower utility costs, shop for insurance, appeal property assessments.
Money Saving Maintenance Tip?
Avoid carpet if at all possible. Instead find 50 cent to $1 laminate flooring locally and pay an honest reasonable installer to install, do hallways bedrooms etc.
How Do You Encourage On-Time Rents?
My late fee is 10% of rent, very high. I still need to work on late rents though.
How Have You Collected Past Due Rent?
Wage garnishment, and this week I am doing a sale of personal assets.
Trick A Tenant Played On You?
Oh my, where do I start. Lied to me about having cancer (knowing my dad was going through chemo at the time) so they could get me to do section 8. Lying to me to buy more time for late rent then going to eviction court and telling judge that I refuse repairs (many times).
Favorite Real Estate Book?
Blue Jeans Millionaire (Richard Eppley)
What's Rewarding About Being A Landlord?
Creating wealth and a higher standard of living for myself and my family. Being my own boss.
How Has MRLANDLORD.COM helped you?
This site has helped me exponentially more than any other source of RE education. I have been on here since I think 99 (not exactly sure). It enables us to learn from others experiences, to share ideas, innovations, techniques, it is great.
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