What Landlords Can Do to Work With Tenants & Avoid Eviction During Economic Decline
Damon Remy, founder and CEO of REI BlackBook, has been busy catching up with members of his network and industry experts to check in with them and see what they're doing right now in their businesses to ensure they will not only survive but thrive in this time of economic uncertainty.
We, here at REI BlackBook, are releasing a Special Expert Interview Series to take you behind the scenes of some of the highest performing real estate investors across the country to discover how they have survived past economic downturns and recessions, and what you can do to thrive during economic uncertainty.
In this video call, Damon chats with Mark Dolfini, a highly skilled property manager and founder of Landlord Coach, a successful coaching business exclusively for landlords and property managers.
Over the course of 53 minutes, they discuss what landlords can do to work with tenants and avoid eviction during an economic decline; what’s currently happening in the economy; how you, as real estate investors, can help people; quarantine safety precautions; what business owners and entrepreneurs, like you, can be doing right now to keep moving forward, and much more.
Don’t have time to watch the entire video? No worries, browse through the topics listed below that interest you and fastforward to that specific spot.
- 2:18 Mark talks about Sept. 11, 2001, and the 2008 recession. He discusses the importance of solving people’s problems as real estate investors. Damon shares the advice he gave during one of his webinars.
- 7:44 Mark discusses how he’s been deleveraging his portfolio and cash flow. He emphasises on playing the hands you are dealt with and provides situation based examples.
- 12:23 Damon dives into small business administration resources and loans. Mark shares what incentives he gave his residents during the coronavirus pandemic and how they responded.
- 20:21 Mark discusses advice for landlords and property managers. Damon asks what tenants need to provide in order to show a loss of income. Mark makes a point of sending out daily communication between landlords/property managers and tenants.
- 27:00 Damon mentions a personal experience with a service provider and quarantine precautions. He and Mark also discuss their experiences in the Marine Corps.
- 38:06 Damon talks about the significance of adapting, being proactive, and looking at personal and business expenses. Mark reiterates the importance of helping people and solving people’s problems.
- 42:45 Damon asks Mark what his acquisition lead generation is. Mark states that he treats everyone as if they could be a buyer or a seller. He mentions ramping up marketing for your business.
- 46:14 Damon talks about REI BlackBook’s Profit Drive feature and how it is one of the most effective strategies. He also summarizes advice that was stated previously.
- 49:09 Mark shares how to find him online. Damon wraps up the video call with a few key notes.
Who Is Mark Dolfini?
Mark has 20 years of experience in the real estate business and owns several million dollars worth of real estate, in addition to actively managing over $40 million in real estate.
He runs his company, Landlord Coach, in Lafayette, Indiana, where he helps anyone involved in the management of rental real estate, from those just starting out, to those that have many years of experience.
Mark is the author of “The Time-Wealthy Investor.” Mark has “Time-Wealth,” which means he controls his calendar to do the things he wants, when he wants, and with whom he wants to do them.
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