Welcome to Professional DIY Landlord. I’m your host, James Furlo, and this website is dedicated to helping landlords become the best possible landlords they can be. We’re going to explore all sorts of topics related to landlords to help you succeed. But first, let’s talk about the origins of the website’s name and the purpose behind this website.
The Professional Level
When I think about what it means to be a professional, I think about football. Did you know that over 1,000,000 students play high school football each season? Of those only 89,000 (9% of high school players) are good enough to play college football. Then there are the 1,700 men (only 2% of college players) who play professional football. These men are so good they get paid to play.
It’s crazy to think about how many people start off playing football, but how few actually make it to a level where they’re getting paid to play.
Landlords exhibit many similarities. Getting starting with real estate is relatively easy with low down payment loan options. Some start having a good idea about what’s to come, some have no idea what they just signed up for.
When I signed up for football they asked me what position I wanted to play and I said, “I want to catch footballs and score touch downs like Jerry Rice. What position is that?” I actually said that. On the first day of practice they started with defense… which has NOTHING to do with catching touch downs like Jerry Rice. I was so lost. A coach shouted at me to join the CB group (corner-backs, who are scrawny players like myself). Completely confused, I joined the LB group. Let’s just say these Line-Backer guys are NOT scrawny who enjoy running into other people as fast as they can.
Like many landlords, I committed to learning the position despite all the unknowns and growing pain. It definitely wasn’t the easiest time in my life, but it definitely shaped me.
After high school, or owning a rental for a couple years, many people stop for a variety of reasons. Maybe it took too much time, or they didn’t like it, or a better opportunity came up. Or, they would have liked to continue but just couldn’t figure out how to make it work.
College is definitely a step up.
These guys know the ropes and have mostly good habits. At this level, some are good enough to earn scholarships. They’re not making money, but they’re not going into massive amounts of debt either. “College level” landlords are the same way. They’ve learned a few things but are only breaking even on their property. It feels great to be at this level because you’re no longer being knocked around and feel like you have some control over your property. Still, you’d love to take it to the next level.
That next level is to be a professional landlord: to manage your properties so well that you’re making money while minimizing problems. This truly is an elite group because most people lose money, barely break even, or stop entirely.
What type of landlord are you? Are you the high school player who didn’t really know what you signed up for and are getting knocked around? Are you the college player who’s learned a few things but is only breaking even? Or, are you a professional landlord? Are you part of that elite group of people who doesn’t dream of funding your retirement through real estate, but is actually making progress?
The goal of this website is to teach landlords how to manage their properties professionally: to maximize long term cash flow and minimize headaches. ProDIYLandlord.com will do this by:
- sharing psychological insights happening between yourself and your tenants
- discussing business principles to help you run your business smoothly
- providing actionable tactics you can use right away
- exploring modern tools to make your life easier, and
- learning from fellow landlord case studies
A little about me
I bought my first duplex in 2009. I lived in one side with my wife and rented out the other. I got my property management license in 2011 to make sure I stay aware of all the real estate laws. We bought our second duplex in 2012. We moved into a home and fully rented out the first duplex in 2013. In 2014 an opportunity came along for us to buy an 11-unit apartment building. I also joined a local real estate investor club and found that owning 15 rental units has given me some wisdom to share with others. I won’t pretend that I know everything, but instead promise to use my own experience, and the wisdom of other experts to help all of us become professional landlords.
Do It Yourself
This website is for owners who don’t want to outsource everything to a 3rd party property manager. It’s for those of you who want to be involved in your property and the monthly running of it (it doesn’t have to be daily). It’s for those of you who want to save the 8% to 10% management fee every month because you can do it yourself. To be clear, I don’t think you need to do everything yourself. For example, I pay someone to do my taxes for me. I also pay someone to mow the lawn of one of my duplexes – I mean, I enjoy mowing lawns, just not that much! I do screen and manage tenants myself. I also do most repairs myself because I enjoy the process of fixing something broken.
“Landlord”
(Notice how I’m logically walking you through each piece of the name, and intent, of this website. This is an example of what you can expect here.)
The term “landlord” is not commonly associated with happy thoughts. Instead, a landlord is associated with mean rich people who pinch pennies and try to take advantage of tenants by charging ridiculous amounts of rent while never doing repairs. I wish this was based on some false notion or misunderstanding, but it’s not. There are a lot of bad landlords out there.
The goal of this website is to turn that around: to get people to think of landlords as people who maintain their buildings and treat their tenants with respect. I want to get to a point where tenants pay their rent on time each month out of respect and admiration of the service we’re offering, instead of out of fear of being evicted.
Professional DIY Landlord
That’s the website. It’s going to be a fantastic ride with all of us becoming professional DIY landlords. To make sure you stay current with the latest updates subscribe below. We’re also looking for contributors. If you have an experience or lesson you’d like to share, send a message via on the contact form.