Carleton Sheets was my first mentor for investing in real estate.
Caleton Sheets is an important mentor for me. Carleton Sheets was my first mentor for investing in real estate period.
In 1994 I bought Carleton Sheets'the “No Down Payment” home study course as well as the “Real Estate Tool Kit” the companion to the course. The forms were designed for those who want to prepare/customize forms and store investing information on the computer.
Carleton’s portfolio also included: The Painless Guide to Practical Property Management, Cashing In on Foreclosures and Distressed Properties, Creating Quick Wealth with Partners and Confidential Conversations tape. All that information was new, easy explained and very welcome to us.
We read and listen to the materials offered in the up mentioned package. We made decisions and acted on them.
We bought a four units house on his teachings and it was a good first investment strategy for our son. The tenants are paying for mortgage and taxes.
Real estate classes and licensing help me built my network of experts, discover new opportunities and buy my apartment buildings. I listen so many times to Confidential Conversations for clues and encouragements.
Control over your business with good forms
I started my property management business. Property management forms are at the core of management business. I start my business forms using Carleton H. Sheets's "Forms Kit". I have been updating them for my state requirements since.
Carleton Sheet thought me that the control over your business starts with good forms for you and still legal in your state. Not all forms are created "equal" from business management point of view. The wrong bias may hart you and your business.
I am mentioning here only two forms:
The Application, I call it "The Standard Application" to built trust and make the filling in the application process smoother, especially for first time young renters. The purpose of this form is to give you enough info, to check them and make a good/business decision.
I named the Lease "Residential Lease/Rental Agreement". This signed document is a contract. It provides the legal frame and discipline requirements to act and implement upon day by day. If the tenant becomes uncontrollable or the "quiet enjoyment" is not on his/her agenda, the lease should have an article for correcting the mistake made by approving the application in the first place.