Make sure you’re checking the vibes on your deals!

So I've bought a couple hundred rental properties, so I talk about this all the time. It's really important. You walk a property, you look at the numbers, you do all of your due diligence, but at the end of the day, there's a thing called the vibe check. And vibe check is actually really important. How does it physically feel to be here? And was it— would it be somewhere that you'd want to rent? Now, this building, there are things that I'd fix up. It's not in a super high-income area, but the building itself, you see, this is pretty clean. Stuff I see damaged is all the stuff that doesn't worry me too much. Like, you have cheap fascia up there and it's missing sections. So we know maintenance isn't perfect, but it's really clean. All of the major pieces are in great condition. It looks like ACs are working everywhere, fire extinguishers are up to date. It's those little things. We're down here, I'm like, this feels safe, this feels clean, this feels like management has cared in the past. But I still understand where the value-add's coming from. Projects like this, this is what feels really good. If it doesn't feel good, or you're like, man, it kind of feels dangerous, you're gonna have tenant problems, you're gonna have collection problems, I would steer clear of those deals. I just walked on one earlier this week, actually.