380: Profitable Landlording in a Crisis with Mike Butler, Chris Clothier, and Dave Poeppelmeier

Feeling like you're in uncharted territory as a landlord? You're in good company! Today's show walks you through how to ethically and profitably manage rentals through the COVID-19 outbreak and beyond. Brandon and David sit down with Mike Butler, acclaimed author of Landlording on Autopilot; Chris Clothier, partner at REI Nation (formerly Memphis Invest); and Dave Poeppelmeier, owner of eight houses in Toledo, Ohio. You'll get a ton out of this panel discussion, including exact scripts for communicating with non-paying residents, strategies for connecting tenants to government resources, a discussion about "deferment" vs. "forbearance," and much more. Mike (500+ units), Chris (6,000+ turnkey units), and Dave (8 properties, mostly student rentals) are all in different markets and at different stages of their investing careers... so you're guaranteed to learn something you can apply in your business today. Enjoy this episode, jump on the BiggerPockets Forums to connect with fellow investors, and subscribe to this show in your favorite podcast app so you won't miss us next week! In This Episode We Cover: Mortgage forbearance vs. deferment for landlords What % of REI Nation's tenants paid April rent Establishing open lines of communication with tenants What tone to use in conversations about rent Why Dave proactively reached out to his renters Guiding tenants to government resources (unemployment, etc.) Creating contingency plans Mike's "Wendy's walk-up window" for rent payment How to look for better financing in low-interest-rate environments How to stay organized if you're getting government assistance for your business And SO much more! Links from the Show BiggerPockets Forums BiggerPockets Webinars BiggerPockets Bookstore BiggerPockets Podcast 224: Building a Process to Buy 17 Deals a Week with Chris Clothier Are Your Tenants Unable To Pay Rent Due To Coronavirus? Here's What To Do! BiggerPockets Podcast 234: Tenants, Evictions, & The Dark Side of No Money Down with Ryan Murdock BiggerPockets Bookstore Check the full show notes here: https://www.biggerpockets.com/show380 Learn more about your ad choices. Visit megaphone.fm/adchoices