Real Estate Lessons From Flying

I’m writing this 30,000 feet above the ground on my way to Salt Lake City for a family event. And not surprisingly, it’s been a nightmare of a trip. I hate flying. Not because I’m afraid to fly but I hate waiting in the security lines, can’t stand all of the delays and all of the other inconveniences associated with air travel.

For example, this current trip I’m on has been a disaster. My flight got delayed leaving Washington, DC last night, therefore I missed my connection in Denver and I spent last night in the Denver airport. Then, this morning, my flight was supposed to leave at 7:30am and we sat on the plane until 9:00am because of mechanical problems.

Thankfully, I’m now in the air and one hour from Salt Lake, but who knows what else is going to happen. So although this hasn’t put me in the greatest mood, I always try and be positive and learn something from every experience in life.

What did I learn?

Two things actually. First off, you need to be able to adapt and adjust in life. As a real estate investor, all kinds of problems are going to crop up and you have to learn how to handle them. If you’re not flexible as an investor it’ll be very tough for you to become successful (without losing your mind.)

Now let me get to the more tangible lesson. While flipping through the Southwest Magazine I came across their Rapid Rewards Program. The ad was very enticing and showed how you can get free flights, and that there are no blackout dates as with other airline programs.

And this got me thinking about my own Rent to Own Program I have with lease option tenants. Obviously, people love being a part of a unique program, especially when it has big benefits that other companies don’t offer.

For my own personal program I offer people $300 rent credits on all properties at a minimum. Most investors are cheap about this and offer $100 rent credits. Secondly, I bend over backwards to make people feel like the property is their own home (because it will be.) I allow them to paint the house, put in new carpet and help them find a lender and walk them through the home loan process.

In addition, I remember their birthdays and other holidays and send them gifts and cards.

Simply put, I want my rent to own tenants to know that I truly care about them and I will do anything to help them achieve home ownership. If you don’t have a unique rent to own home program, I would set one up today. Ask yourself, “what would separate me from the competition and make lease option tenants choose me versus anyone else?”

One last thing. Every little touch helps. When a tenant moves into a new property I send them a $25 gift certificate to a restaurant congratulating them for being on their way to home ownership.

That’s all. I hope this plane lands safely.