We Use Automation and You Should Too

Transcript

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Welcome back to the On Purpose Investor.

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I'm your host, Eric,

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And I'm Josh.

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And in today's episode, we're going to talk through automating your rental portfolio, the real asset in your business, and what tools are you using to ensure that you are running your business and it's not running you.

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That's all coming up next.

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So stay right here, in tune, locked in, ready to go.

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At the the On Purpose Investor

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Welcome to the On Purpose Investor.

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My name is Eric and this show is where intentionality meets investing in yourself and your finances.

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And I'm Josh and together we'll explore the strategies, insights, and stories combined with inspiration and motivation to help you live with purpose and make an impact.

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Now whether you're a seasoned investor or just getting started, join us each week as we dive deep into the world of intentional investing.

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Today.

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We are learning all about automation and leaning into what being a business owner and not a business operator looks like.

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So Josh, let's get right to it.

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Automation.

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We aren't talking about letting robots run our business or.

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Maybe we are.

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I don't know.

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But, what is automation and what tools are you using in your business, Josh?

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Look, so first off, automation, I thought, like I saw the movie Terminator and I was convinced that there was like a Skylab thing.

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floating above us and we're going to activate it and it's probably going to destroy us all.

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So that's at least that's what I thought automation was.

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And I would love to have a fleet of robots because I was telling you for, we logged on today that I've got this flip man.

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And I think for every one person on the planet, this property has six fleas.

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So I need some robot exterminators.

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Anyways, to throw that out there, but, I've got a lot of stuff that I'm starting in my automation or automation in my business, Eric.

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I know I use two different tools right now for my single family rentals.

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I am, I'm digging in on rent ready.

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I think it was you that talked to me about rent ready, Eric.

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And I love that tool.

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We can talk more about that later, I think, but I love rent ready.

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Also, I've got a rent by the room, by the week.

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And I'm currently using pad split though.

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I'm, I'm sampling around with some other tools to see how I can sample.

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Around with that as well.

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And we had an awesome deal maker Atlanta meeting where Chris came in and talked about some things and I took a lot of notes during that.

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Maybe we get into that stuff a little bit later, but I've got a long way to go.

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But what about you?

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You're seven years, five years ahead of me.

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What are some ways you're automating your stuff?

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Yeah, Josh, appreciate you asking.

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In our business, we have delved into automation pretty much since the right beginning of getting into investing in real estate.

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We started off with a couple of different Tenant management systems like rently.

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And there were some other platforms we use to make sure our tenants had an easy way to pay their rent.

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They had an easy way to submit maintenance tickets.

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They had a very, uncumbersome way to communicate their needs with us.

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But, even before that, we were starting to even automate what it was for people to apply for our properties.

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And we went through a lot of different companies We even had one where they would put a sign on the property that says text rent to this number.

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And then this company would pre screen them and get them to do like pictures with their ID in front of the property.

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And then it would give them a code and then go, they'd go toward the property.

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And if they loved it, they'd come back and then they would submit an application to us.

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So that was some of the ways, we've come a long way though, since the first couple of years we got started, because what it used to be was old school would put a sign in the yard would put a classified in the paper.

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We'd host an open house twice.

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Sometimes just one would get a perfect tenant in that first one.

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But at those open houses, people would fill out applications that leave us a check.

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We'd take those applications home.

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We would sift through them.

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We would call references.

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We would do all those things.

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And we quickly realized that, we were at three properties then.

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And every time a rental came available.

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It was about 16 to 20 hours of work in just screening tenants, and we had to find a better way to do that.

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And so we started implementing some pre screening tools through Rent Ready.

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We started using TransUnion Smart Move, which gives your Perspective tenant, a tenant score of how likely are they to pay their rent?

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How likely are they to skip rent?

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And it, it gives them, it gives you a full kind of look at what exactly has this person been doing for seven years and what does that mean they're going to start doing for you.

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And Josh was saying, we did have an Amazing dealmaker Atlanta meetup this past week that Chris Peisher, a great friend and mentor of mine out of middle Georgia came up and gave a presentation on what he specializes in and his program and his book are called the automated landlord, and he is just slap full of wisdom and knowledge.

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And, he's been there, done that and found a better way to do it.

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And just shared with us at dealmaker Atlanta.

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So yeah, let's get into a little bit more about this episode on why is it important for us landlords to start automating and why are people hesitant to automate, there are your old school mom and pop shops that.

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They collect rent in their mailbox or they go pick up cash or checks.

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They're doing paper applications.

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They're accepting calls on their personal phones.

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They're constantly at those properties.

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So let's dive into it, Josh.

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Yeah, look, how about this?

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Let's get this thing started.

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Can we just talk about what problems come from not automating?

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Like I'll get us started.

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Do you ever feel like you're like stuck in the minutia of daily task?

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Like I literally, I'm not making this up probably.

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What do you say?

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Two hours before we started recording the show, Eric shot me a text.

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He said, how's your day going?

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I'm like, I forget how I worded it, but it was like, honestly, I'm drowning.

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And it's, what am I actually doing, Eric?

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I was out cutting grass and that didn't seem like a big deal, but cutting grass when you have, enough properties to fill up the side of a Monopoly board.

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That's a lot of grass cutting.

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And we didn't even started talking about rent collection.

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You just mentioned screening tenants.

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If you're not careful, it becomes hours and hours of extra work.

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And one of the things that I always like to talk about is I didn't get into this profession for money for me personally, man, I'm here for time.

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And if I'm not careful, dude, I just, I'm losing time.

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Absolutely.

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And that's one thing that here at the on purpose investor, we want you to be.

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On purpose.

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We want you to be intentional on how you're building your business.

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And I promise you, it's much easier to turn a canoe around in the water than it is a cruise ship.

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So before your business gets to the size of a cruise ship, use the nimbility, the nimbleness the nimbility.

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Did I just make up a word?

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I don't know.

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We're going to go with it.

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I like it.

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Use the Nim-Bim-Bib-Ly of your canoe.

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You can quickly turn it.

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You can use a an automation tool for your couple of properties.

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And if you like it, keep it.

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If you don't find something new, but start looking through the different, features that these different tools offer and figure out what works for you, just because Josh and I use something or someone else tells you to use something, it may not be right for you.

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There's a lot of people that I know that use rent ready.

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There's a lot of people I know that use building them.

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A lot of people I know that still use rently.

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There are so many tools out there that you can use to help automate and streamline your business.

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You just have to figure things out.

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And I would really encourage you to do it when you're a canoe size bid business and not a cruise ship.

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What other problems are coming out of not having automation?

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You don't have the bandwidth to deal with more important tasks in your business that are going to create a snowball for your business.

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When you're worried about collecting rent checks, when you're worried about following up with late rents.

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When you're worried about, did the plumber get the call from the tenant to go fix the leak under the sink?

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I promise you when your head's deep, when you're knee deep, and you're buried in that stuff, you're not gonna have the bandwidth to answer that phone call from someone, which I got tonight, a phone call from a friend that says, Hey, I have a great deal.

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I just need some help taking it down.

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Can you help me negotiate this deal?

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I promise you, if I was buried in the minutia and the monotonous tasks of being a landlord, I would not have the bandwidth to answer that phone call.

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Let alone have the followup ability.

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To go out there and make deals happen.

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That's one of the biggest things I think that not having automation, like it kills your ability to snowball.

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Yeah.

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You touched on it.

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It's almost like a theme of without automation, or at least when you get into the business, a lot of people are just trying to generate more money.

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But what automation does is it creates time.

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I have this portfolio.

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And my, the greatest asset that I have, which by the way, is not the house.

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Chris talked about that.

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My asset is an amazing tenant.

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My house is just, I want to create a great property that attracts the right tenant.

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But if I'm not careful, I create a cycle or maybe, there's money flowing in, but I have no time because I, it's almost like you leave one job just to get to another job.

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And time is more valuable than money.

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And automation is what we can do to create.

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That time, because if we're not careful, the time that we do have becomes very cluttered.

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I like to think of it like this personally.

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And I, and again, I'm just getting started in all this, but as I automate things, it provides clarity to the madness.

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Clarity to the madness.

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For example, I was on a rookie deal breakdown call this past week.

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And I was talking about my first deal that I broke down and Eric, it was awful.

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It was great.

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By the way, I learned so much this property cash flows, but I did so many things the wrong way.

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I had subs coming in, I didn't have anybody overseeing the whole thing.

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And then I didn't know that you had to do an order of process.

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So I hadn't even fixed the beams in the crawl space before I put brand new floors across the top.

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It's so bad.

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And then I couldn't level out the floors.

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And I called you if, I don't know if you remember this phone call.

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And I'm like,

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Oh, I do.

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I remember.

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What do I do?

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Do I cut this new floor out?

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And of course you taught me about G.E.T.M.O.

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And we could do a whole podcast on G.E.T.M.O., but I've learned in the renovation process that I have to have an order of operations and that brings clarity to the madness.

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If I think of automation for that, then what automation is it is the order of operations for my brain that can provide clarity to all the tasks.

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I don't have to take up rent.

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I don't have to run down to the police station to get criminal background checks.

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I'm dang sure not important enough to call the credit Bureau, but I can use apps and tools that do all of those things for me and I can And then I can get back to doing what I do best, which is meet and talk to people.

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Yeah.

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And that kind of rolls right into the next subject.

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And that is, why are people, even us.

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Why are we afraid to automate?

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And one thing that, I didn't even list down in our notes is that people are afraid to spend the money to automate.

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And that's like this,

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me, man.

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it's a real big issue.

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Because if you are paying for your automation, you're doing it wrong.

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And what I'm saying is if you're paying for all the tools that help you screen tenants, There's a, probably a good chance that you're not charging an application fee and people can be on both sides of this fence on, do you charge application fees, but let me tell you, when you screen a tenant to get all the way to the finish line and move into your property.

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You want to have invested so much time and resources into it that you know that they're going to take care of your, very expensive property.

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And so what do I mean by getting them to pay for it?

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Will you charge an application fee whether they are accepted or not?

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Be hyper clear.

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On your listing on what is accepted and what is not that way they can never say you maybe pay this application fee, I didn't see anywhere in there that you don't accept people with a lower than a 550 credit score, or that you don't accept felons or that you are not using this property for section eight.

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I would have never applied if I had known that be hyper clear in your listing.

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And even in your automated messages that go out, put all of those specifications in there.

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And say, reply, yes, if you've read all of this and you meet all of the minimum criteria, and at that point, then it sends them an application link to complete online.

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But, there, there are so many landlords out there that are afraid to spend, sometimes even 100 a year on a tool that will, Far surpass, earn them more than a hundred dollars a year.

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So that, that's like the first thing.

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And then just quickly into the second thing, the people, our landlords out there, we're old school, we're cheap.

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We like to, maximize our profit,

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Eric.

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We're not cheap.

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We're thrifty.

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But even more so than that.

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And more than being a great deal maker, more than being thrifty or cheap is that we are perfectionist by nature.

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We want our properties to be great.

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We want our tenants to be great.

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We want the work done, our houses to be great.

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We want everything about everything we do to be great.

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And when you turn it over to some computer, You're letting go, you're letting go of some type of control.

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And, ultimately landlords in general want to have control.

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The most important control that you need to maintain no matter what is control of the property.

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Now, the use of that property, you can, and you want to maintain control of overall use of that property, but filling the property, maintaining the property, keeping the tenants in there and keeping them happy.

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You don't need to have a hundred percent control of that when you can trust on a tool in a system that has been built to be great that you're going to pay for, you can trust on that.

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And I've five years into using RentReady and I couldn't be happier because of, and promise you this episode is not sponsored by RentReady or anything like that, but it's just one of the best tools that we use in our business and it really helps us.

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Yeah.

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And to go along to look, if I were honest, technology intimidates me just a little bit, Eric.

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As a teacher, sometimes I would have to take my cell phone when I couldn't figure out one of these dang apps and then hand it to a kid in my class and go, can you show me?

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I didn't know that you could hit the FaceTime button while you're already on the call and come to find out it was like a running joke because my cheek would hit this FaceTime button that there just be people seeing the side of my face.

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And I would have no idea that was even going on because technology alludes me and it's intimidating because it's hard For example, there's chat GPT.

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I was against that for the longest time in my business because it's, it intimidated me.

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Cause I would see all these ads about all these prompts that you have to know what prompt to ask it.

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And I'm like, I don't have time for all that.

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But here is what I have learned just in the last week with the, did you know, Eric, With the paid version of chat GPT.

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And if you're a rookie investor out there who doesn't have a lot of experience at this is a skill that you can do to, you can go put this episode into action right now with the paid version of chat GPT, you can upload a home inspection report on a property, and then you can ask chat GPT to analyze that entire.

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property inspection for you, put the things in order that need to be done in order, assign an estimated cost based on a state value, and then prepare the work for your GC.

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It will do all that for you, and it can do it all in less than five minutes.

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That is an incredibly useful tool and an incredibly useful tip and I'm taking that one.

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And full disclosure, I just learned about that in the last 48 hours, and I'm like, I've been doing this wrong the entire time.

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And that's just one example of what one singular tool can do.

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Can I give you one more thing ChatGPT can do while we're on this, Eric?

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Jeez, absolutely.

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Eric, do you role play with anyone?

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Like when you're trying to get on the phone, maybe you've got a off market deal and you're negotiating.

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Have you ever done role play calls or

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I have spoken to my mirror more times than I think I've spoken to you.

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So check this out.

00:17:15.346 --> 00:17:18.486
You can get on the, again, paid version of chat GPT.

00:17:18.715 --> 00:17:20.526
You can go, Hey, chat GPT.

00:17:20.596 --> 00:17:23.246
I am a real estate investor.

00:17:23.746 --> 00:17:29.205
I want you to set up a scenario where I am Josh, the real estate investor, and you are.

00:17:29.461 --> 00:17:43.780
John, the off market person who I am cold calling because you have a house that has fallen on hard times because you have a family member that passed away and I am trying to get you to sell me the house.

00:17:44.895 --> 00:17:50.556
If I can convince you, you must sell me the house, but don't let it be easy.

00:17:50.905 --> 00:17:53.526
The scenario will start when I tell you to go.

00:17:54.846 --> 00:18:03.425
And when you do that, you then using the talk feature can literally role play out with chat, GPT, making that call.

00:18:04.326 --> 00:18:05.185
And you can do it.

00:18:05.195 --> 00:18:06.935
You and I, this is a podcast.

00:18:06.955 --> 00:18:12.465
You and I could do that together and see which one of us can get it across the finish line.

00:18:12.746 --> 00:18:13.506
The fastest.

00:18:14.625 --> 00:18:17.286
That, that is unworldly,

00:18:19.195 --> 00:18:19.675
Yes.

00:18:19.976 --> 00:18:27.546
definitely a great tool and you're seeing this type of, technology come into a lot of things.

00:18:27.546 --> 00:18:32.736
I was working on a presentation a couple of weeks ago and I was working on it in PowerPoint.

00:18:33.316 --> 00:18:46.540
And when you rehearse on PowerPoint and you ask it to grade you, It will record everything you do and say, and then it will give you a grade on your pacing.

00:18:46.570 --> 00:18:49.060
It'll give you a grade on how many times you set a filler word.

00:18:49.881 --> 00:18:51.161
It will really call you out.

00:18:52.461 --> 00:19:04.030
Technology is something we should embrace, but it's something we should embrace with caution because you don't want to allow technology to run a hundred percent of what you do.

00:19:04.371 --> 00:19:08.191
There is a personal aspect that you need to maintain.

00:19:08.770 --> 00:19:31.310
You need to always be the one at the very end of your screening process to, to have that, lease up call with where you're talking through the lease and you're talking through your expectations and you're getting to know them just a little bit more to double check everything that was automated before you are now confirming all the things that were automated.

00:19:31.760 --> 00:19:39.730
And there are going to be times where you're confirming everything that was automated and you get on that call and you realize, Oh, wow, I cannot believe this made it through.

00:19:39.990 --> 00:19:51.800
I need to refine my process because I've now realized I should not have been speaking to that person ever because they, there's this glaring issue that made it through somehow.

00:19:52.780 --> 00:19:56.461
So I just say that, embrace technology, but with caution,

00:19:56.766 --> 00:20:01.296
Hey, Eric, can I, this, we're just going off script today.

00:20:01.336 --> 00:20:04.536
Can I tell you something else that you can do with chat GPT?

00:20:04.566 --> 00:20:04.875
That's going to

00:20:04.881 --> 00:20:05.490
dude, I'm ready.

00:20:05.685 --> 00:20:06.336
somebody's business.

00:20:06.351 --> 00:20:06.740
ready.

00:20:07.715 --> 00:20:10.355
For those of you, I do this as a real estate agent.

00:20:10.486 --> 00:20:14.435
So I'm speaking as an agent, but agents, you can use this.

00:20:14.486 --> 00:20:20.885
Or those of you that are not agents can use this to out negotiate that license train real estate agent.

00:20:21.506 --> 00:20:26.836
Did you know, again, paid version of chat GPT, you can go into chat GPT.

00:20:27.121 --> 00:20:31.010
And you can pull down you can link it to realtor.

00:20:31.280 --> 00:20:32.471
com or zillow.

00:20:32.471 --> 00:20:39.611
com, basically the profile of another agent or another individual that it can recognize.

00:20:39.671 --> 00:20:44.641
And then you can say, what are the chance or how often does this agent.

00:20:45.076 --> 00:20:47.605
Settle for a deal under value.

00:20:48.865 --> 00:20:53.778
How often does this agent get a deal that goes above value?

00:20:53.976 --> 00:20:55.435
So let me tell you why this matters.

00:20:55.675 --> 00:21:06.185
If I'm negotiating with someone to get their property and chat, GPT tells me that 75 percent of the time their property sell under the value that they're listed.

00:21:06.486 --> 00:21:09.635
How does that influence me when I pick up that phone and call them?

00:21:09.635 --> 00:21:10.435
Yes.

00:21:10.736 --> 00:21:14.215
already have a stance on the dollar amount.

00:21:14.415 --> 00:21:22.185
You already are positioned to go ahead and go against what Chris Voss, recommends us doing.

00:21:22.205 --> 00:21:27.175
We don't usually come out and say the number, but now you have some ammunition.

00:21:28.256 --> 00:21:28.846
That's it.

00:21:28.895 --> 00:21:33.135
You can go into your negotiation with any person that chat.

00:21:33.145 --> 00:21:37.476
And by the way, if chat GPT doesn't know, you can do this to, if you're listening, you can do this to me.

00:21:37.776 --> 00:21:39.685
Our website is jrbdreamteam.

00:21:39.685 --> 00:21:41.496
com from me as a real estate agent.

00:21:41.726 --> 00:21:50.096
You can go upload that website into chat GPT and ask it questions about Rachel and I, and it will analyze it and give you answers.

00:21:50.395 --> 00:21:51.125
That's impressive.

00:21:51.425 --> 00:21:52.365
Is that not crazy?

00:21:52.395 --> 00:21:54.016
What a negotiation tool

00:21:54.846 --> 00:21:55.336
That is

00:21:55.395 --> 00:21:55.965
you have.

00:21:56.266 --> 00:21:58.806
You are absolutely dropping some bombs over here.

00:22:00.096 --> 00:22:00.925
It's incredible.

00:22:01.236 --> 00:22:05.385
So we talked a little bit about, why are people afraid to automate?

00:22:05.675 --> 00:22:13.715
And before we get into, how automation has truly helped our business, I want to do a quick plug for the tool that has really changed my.

00:22:13.980 --> 00:22:16.111
Investing career, and that is rent redi.

00:22:16.391 --> 00:22:25.961
So if all this talk about automation has you thinking differently and you're ready to take your first step into a world of easier landlording, I encourage you to check out rent redi.

00:22:26.181 --> 00:22:32.000
It's easy to use dashboard helps you automate your income maintenance, listing your properties, and so much more.

00:22:32.351 --> 00:22:38.790
If y'all visit www.onpurposeinvestor.com/rentredi, that's R E N T R E D I.

00:22:39.201 --> 00:22:40.590
Go try that out today.

00:22:41.476 --> 00:22:43.615
Eric, we talked about this a little bit.

00:22:44.165 --> 00:22:48.465
How has automation in your business helped you specifically?

00:22:48.810 --> 00:23:01.740
There's one thing that I never wanted to accept that was the truth about me, but it didn't take me long into my adult life to realize that I am hyper forgetful.

00:23:02.230 --> 00:23:07.520
I have the best of intentions when I tell someone, Yes, let's go to lunch.

00:23:07.530 --> 00:23:09.040
Yes, let's do this thing.

00:23:09.441 --> 00:23:10.971
Yes, let's make this thing happen.

00:23:12.260 --> 00:23:26.760
But I don't want to say I have any type of disorder with my brain, but I definitely know that I struggle with remembering things and no matter how many notes I take on my phone or calendar pings I create, somehow it, it eludes me.

00:23:27.121 --> 00:23:31.510
So the biggest thing that automation has helped me with is my forgetfulness.

00:23:32.236 --> 00:23:43.266
I don't have to worry about sending late payment reminders or sending out renewal notices or letting people know that, Hey, it's time to change your air filter.

00:23:43.435 --> 00:23:48.016
Or, I don't have to remember all those things because all I have to do is think about it one time.

00:23:48.286 --> 00:23:51.935
And that's what I'm loading the property into the portal.

00:23:52.336 --> 00:24:00.205
Or when I load a new tenant into that property, all I have to think about is that one time and then everything else is done.

00:24:00.536 --> 00:24:03.576
They're going to get a reminder that their rent is coming due in a couple of days.

00:24:03.605 --> 00:24:05.486
They're going to get a reminder that it's due that day.

00:24:05.976 --> 00:24:08.796
And every day that they're late, they're going to get a bunch of reminders.

00:24:08.796 --> 00:24:11.776
Hey, your late fee of X dollars has been assessed.

00:24:12.155 --> 00:24:16.736
To avoid another X amount of dollar of late fees, pay today.

00:24:17.105 --> 00:24:18.806
Do you need to pay in installments?

00:24:18.965 --> 00:24:20.596
Have you reached out to your landlord?

00:24:20.925 --> 00:24:23.046
Or, the 15th of the month comes around.

00:24:23.496 --> 00:24:25.935
Have you changed your air filter this quarter?

00:24:26.296 --> 00:24:28.826
If you haven't changed your air filter, you need to change it now.

00:24:28.846 --> 00:24:33.066
Just so you know, not changing your air filter can cause the condenser to fail.

00:24:33.381 --> 00:24:40.270
And if that fails and we determined that you didn't change your air filter, those costs will be directly addressed and sent to you.

00:24:40.580 --> 00:24:44.371
And so when those things come up and I'm not thinking about it, they're automated.

00:24:44.721 --> 00:24:50.058
When they're getting sent to those tenants, it really looks like Eric Vogel is on his game.

00:24:50.431 --> 00:24:56.770
It looks like I haven't forgot a thing, but let me tell you what, I would forget it every single time.

00:24:57.240 --> 00:25:01.730
It just, it takes care of the things that I would forget.

00:25:02.300 --> 00:25:04.590
So that's the biggest thing that has helped me.

00:25:04.685 --> 00:25:05.976
Do you do that through rent ready?

00:25:06.810 --> 00:25:07.101
Yes.

00:25:07.101 --> 00:25:09.381
There's some automated messages that you can schedule.

00:25:09.681 --> 00:25:14.875
Dude, for those of you listening to the podcast, I get just as much as you guys do from listening to it.

00:25:14.885 --> 00:25:17.596
So I actually use rent ready, but I didn't know what could do that.

00:25:17.596 --> 00:25:18.945
So I have learned something.

00:25:19.435 --> 00:25:21.516
I've got to get on there and go find that setting.

00:25:21.576 --> 00:25:22.290
That's cool.

00:25:22.590 --> 00:25:23.171
There you go.

00:25:23.471 --> 00:25:29.836
How, gosh, it's like I use automation because I'm trying to create time to do the things that actually give me life.

00:25:30.306 --> 00:25:33.006
Like it's a Sunday as we record this.

00:25:33.046 --> 00:25:33.506
And.

00:25:33.770 --> 00:25:34.701
I'm a church goer.

00:25:34.730 --> 00:25:38.080
I love going and doing those things, but I love volunteering.

00:25:38.080 --> 00:25:41.580
I love being out in the community and automation.

00:25:41.601 --> 00:25:48.030
What it does for my business is it creates more time for me to actually live life.

00:25:48.191 --> 00:25:49.340
And it does that because it.

00:25:49.540 --> 00:25:52.161
helps me to create seamless transitions.

00:25:52.230 --> 00:26:06.661
I have a personal goal, Eric, that I one day I oversee a business, but that every small detail is actually accomplished through either a very valued team member or through some form of technology.

00:26:07.030 --> 00:26:11.661
I know as a real estate agent, I generate leads through a separate lead system.

00:26:12.050 --> 00:26:18.560
And then I pass those leads off to other people that are on our team or in our sponsorship with the HP realty.

00:26:18.590 --> 00:26:27.111
And then I receive a referral, but I don't have to be the 1 that technically generated the lead and I don't have to be the 1 that technically sold the property.

00:26:27.500 --> 00:26:30.080
I'm just collecting the funds in my business.

00:26:30.141 --> 00:26:31.760
I'm not the one swinging the hammer.

00:26:32.211 --> 00:26:42.490
We already talked about how rent ready and other tools makes it so that we can automate so that basically what I'm doing is consistently overseeing those tasks.

00:26:42.740 --> 00:26:46.260
And I'm always looking, Eric, to try to find the tool that does it better.

00:26:46.770 --> 00:26:54.451
For me, that's important is tech technology is constantly changing and I want to make sure that I change with it.

00:26:54.971 --> 00:26:55.691
absolutely.

00:26:55.740 --> 00:26:59.681
And I want to bring something up a little other tool trick that I use

00:26:59.980 --> 00:27:00.530
Let's go.

00:27:01.101 --> 00:27:02.810
How many times has a tenant.

00:27:03.181 --> 00:27:08.270
Submitted a maintenance ticket that you get it and you're awesome at responding.

00:27:08.310 --> 00:27:09.201
And you're like, you know what?

00:27:09.221 --> 00:27:10.550
I've received your maintenance ticket.

00:27:10.570 --> 00:27:11.590
I'm going to take care of it.

00:27:11.931 --> 00:27:15.691
But then life happens, something comes up in your personal life.

00:27:16.211 --> 00:27:18.861
Maybe it's something in your work or something in your family.

00:27:19.300 --> 00:27:25.760
And the end of the day comes and you just, you finally are getting your bearings.

00:27:26.451 --> 00:27:34.631
And you go back and recap what happened today, and you realize, Oh my gosh, there was this thing that I told this tenant I would have handled.

00:27:35.010 --> 00:27:40.131
There's this thing that I know that if I don't get it booked today, it's going to be over the weekend before it happens.

00:27:40.441 --> 00:27:41.621
And I just forgot to do it.

00:27:41.651 --> 00:27:45.721
I did not do it because life came up and I just, I wasn't able to address it.

00:27:46.580 --> 00:27:49.040
The biggest thing that keeps people staying and paying.

00:27:49.701 --> 00:27:55.951
And your properties is that you take care of the issues that arise and you do it fast and you do it promptly.

00:27:56.530 --> 00:28:05.320
There's this really great additional tool within Rent Ready where you can assign properties to this secondary tool called Latchel.

00:28:05.721 --> 00:28:14.161
Now, Latchel is an incredible tool that I love to use where I go into Latchel and I assign who my vendors are.

00:28:14.530 --> 00:28:16.661
For certain issues that arise.

00:28:16.701 --> 00:28:23.401
Now, these are vendors that I trust and I know them and I've used them and I know they're not going to, take me on a run on my money.

00:28:23.721 --> 00:28:27.310
There are people that are going to take care of the property and they're going to take care of those tenants.

00:28:27.570 --> 00:28:30.490
So Latchell, I plug in all of my vendors for each property.

00:28:30.540 --> 00:28:34.300
Now each property has different lists of vendors because they might be in different locations.

00:28:34.750 --> 00:28:42.461
But if a tenant goes in and says, my sink's leaking, Latchell is automatically going to respond with, send us pictures.

00:28:42.915 --> 00:28:44.346
And then they're going to send the pictures.

00:28:44.395 --> 00:28:50.605
And then Latchell is going to help that tenant try to figure out how to fix that leak themselves.

00:28:50.905 --> 00:28:57.516
They're going to say, there is a plastic nut where it goes into the little loop on the bottom of the pipe.

00:28:57.596 --> 00:28:58.675
Try tightening that.

00:28:58.996 --> 00:29:00.895
And then they'll say, Okay, I tightened it.

00:29:00.895 --> 00:29:01.276
It worked.

00:29:01.306 --> 00:29:01.625
Great.

00:29:01.665 --> 00:29:02.996
Latchell closes the ticket.

00:29:03.895 --> 00:29:07.296
But if they say, No, actually, it just came undone and now there's water everywhere.

00:29:07.770 --> 00:29:12.911
Then they're going to say, okay, we're scheduling the maintenance person to come fix that.

00:29:13.250 --> 00:29:20.911
Latchell will then reach out to the plumber that I've already said is the plumber for that property, and they will schedule with that plumber.

00:29:21.131 --> 00:29:27.290
And then Latchell will coordinate with the plumber and the tenant to make sure that they align and can fix the issue.

00:29:27.891 --> 00:29:29.211
When I hear about this,

00:29:30.355 --> 00:29:30.836
Never

00:29:31.211 --> 00:29:32.480
don't ever hear about it.

00:29:32.576 --> 00:29:32.855
that's the

00:29:33.060 --> 00:29:33.155
I.

00:29:33.560 --> 00:29:50.641
What I see is on when I get my deposits from Rent Ready and they come into my bank account and something looks a little off, I go in and look at the transcript or the summary of charges and I see, oh, minus 125 for a plumbing repair.

00:29:51.820 --> 00:29:52.520
That's how I know.

00:29:53.965 --> 00:29:54.165
dude.

00:29:54.165 --> 00:29:55.125
That's crazy.

00:29:55.415 --> 00:29:57.195
I didn't know it would do that either man.

00:29:57.215 --> 00:30:00.895
I am I've got to increase my rent ready game

00:30:01.395 --> 00:30:11.145
Latchel is a secondary cost and I don't know off the top of my head what it is, but I think it's like maybe no more than 20 a property that you activated on.

00:30:11.205 --> 00:30:13.175
You don't have to activate it on every property.

00:30:13.556 --> 00:30:20.976
You, we have a lot of properties that are almost maintenance free and I will handle the one call a year that comes in on those.

00:30:21.006 --> 00:30:27.395
But other properties we have, I want to make sure that, Latchel is being used because I might get a call a month.

00:30:27.935 --> 00:30:31.766
And if I get a call a month on seven different properties, that's seven calls a month.

00:30:32.155 --> 00:30:34.145
That's at least one or two a week.

00:30:34.365 --> 00:30:36.375
And ain't nobody got time for that.

00:30:37.061 --> 00:30:37.592
No.

00:30:37.622 --> 00:30:51.592
And, to put a bow on this thing too, what I love that you're not alluding to, but flat out saying is you talked about in that scenario with a tenant fixing the sink, what you created was a system that wasn't just good for you.

00:30:51.682 --> 00:30:58.362
It was also good for the tenant that was actually had the information that there's a chance that they could have their sink fixed right?

00:30:58.362 --> 00:30:59.082

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