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Dion McNeeley - 1 McNeeley - 1 that's - 1 he'll - 1 they're - 1 It's - 1 He's - 1 he's - 1
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Tacoma , Washington Washington McNeeley's
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☆ A real-estate investor who spent a year talking to former landlords who lost money and had to sell their properties says their one major mistake was refusing to raise rent. He shares the strategy he u
  + stars: | 2023-06-07 | by ( Kathleen Elkins | ) www.businessinsider.com   time to read: +7 min
McNeeley's 'binder strategy' allows him to increase rent, while still maintaining happy tenants. 'The binder strategy': asking tenants to increase their own rentMcNeeley's "binder strategy" involves sitting down with his tenants, explaining what the average rent prices in the area are, and ultimately asking them to set a fair price. The first page of the binder features a picture of the property they're renting and the amount McNeeley paid for it. "The tenants asked for more than a $300 increase because it's still below the area average and they're still getting a deal," McNeeley said. Typically, McNeeley employs the binder strategy when he acquires a new property and then does a 5% rent increase every other year.
Persons: Dion McNeeley, McNeeley, that's, he'll, they're, It's, He's, he's, handymen, they'd, I've Organizations: McNeeley Locations: Tacoma , Washington, Washington, McNeeley's
☆ A landlord and early retiree uses a strategy that involves asking his 16 tenants to raise their own rents. He explains how it resulted in a 20-28% increase last year and 'happy tenants.'
  + stars: | 2023-02-06 | by ( Kathleen Elkins | ) www.businessinsider.com   time to read: +5 min
To run a sound real estate business, you have to raise rent prices over time, says one investor. When the eviction moratorium in Washington expired at the end of 2021, landlords who had been feeling the squeeze could start increasing rent prices again. Having happy tenants is important. At the end of the day, to run a successful business as a landlord, you have to increase rent over time. The key is to do it while simultaneously maintaining happy tenants.
☆ A real-estate investor who sets aside $10,000 a month for his next investment property shares his 2-step process for finding great deals right now: 'Speed is not your friend'
  + stars: | 2022-12-06 | by ( Kathleen Elkins | ) www.businessinsider.com   time to read: +4 min
Real estate investor Dion McNeeley has shifted his strategy when it comes to finding deals. "In the last couple of years there was a lot of demand and not a lot of supply," the 52-year-old real estate investor told Insider. Instead, investors should be looking for two specific things: First, watch "days on market," said McNeeley. McNeeley hasn't bought property since 2021, but he's ready to jump on the right deal when it comes along. "I've never invested in real estate waiting for something to happen in the market."
☆ A real-estate investor just walked away from a 6-figure day job and retired early thanks to his 16-unit portfolio. He says 4 strategies have prepared him to weather a recession.
  + stars: | 2022-12-03 | by ( Kathleen Elkins | ) www.businessinsider.com   time to read: +5 min
Before Dion McNeeley quit his day job, he made sure he'd be prepared to weather a recession. So I'm saving around 10 grand a month to invest into future things that will add to the cash flow." Before McNeeley left his day job, which paid six-figures, he said, he made sure that his finances and investments were secure enough to weather a potential recession. In fact, he didn't feel comfortable quitting his day job until his rental income exceeded $16,000. When he quit his day job, he bumped that number up to $50,000.
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