I just want to say thank you to you guys in the forum. I was recently inspired by your threads about the economy, problems with tenants and buyers, and your call out to be proactive in 2009.
I took this literally and wanted to be proactive as well. In one of my businesses I produced an exit survey on the survey monkey website and shot it out to those who had cancelled a membership I had, and it opened my eyes. What a great idea!
In addition, I wanted to be proactive with the buyers in my homes. You might want to try this as well. I actually took a bunch of minor fundamental financial tips and created a book. I had the book printed and gave it to those people in our homes. I told them I wrote it and would appreciate some feedback on it, and have gotten great feedback from a lot of them!
The book teaches things like “Pay yourself first”, and includes cost cutting tips and how to spend your money. In between all of this, I included a step by step breakdown of an experiment I did with my kids. We took some pocket change and “snowballed” it. Using only the money we had we bought and resold items and did some other strategies to slowly “snowball” up to a few thousand.
Anyway, it turned out to be a success with the tenants and a few of them are trying their own snowball, which is an unbelievable feeling to see them actually paying attention to their finances, and I’m hoping all of this leads to people being able to pay better and more on time.
I highly suggest that if you want to be proactive, you do the same thing. You could hop on Google and pull up a bunch of articles, credit tips, and what not, and easily put together a book.
Then offer it to your tenants and buyers. By telling them that you wrote it, they may feel an obligation to actually read it. After all, that is the point, and if they read it, it just might change the way they think about their finances.
I don’t know, maybe I’m nuts, and I just did this thing so I don’t know if my numbers have actually gotten better just yet, but I feel it would help.
It’s worth a shot and it also shows your tenants that you care.
Just an idea…