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62. Love Your Tenants

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You will borrow a lot of money to buy your six properties. However, you will have these wonderful people called "tenants" who every month with their rent checks will help you to pay that money back.

Understand this: you borrow money and someone else, your tenants, help pay that money back for you.

Many tenants must budget between 30% and 50% percent of their take home pay to cover their rent. Every month, this rent money is coming to you. Which side do you want to be on? Love your tenants.

Keep your properties in good repair. As a landlord, you will have an opportunity to be a community leader providing quality housing.

If you take the time to prequalify your tenants, you will have few management problems. Your rental units are your tenants' homes. The overwhelming majority of people will treat their homes, your investments, with respect.

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