My name is Clark Waggoner. I live in Oklahoma in the Tulsa area. I was in the home improvement business for the first 20 years of my career. Due to foot problems I got off of the ladders and started an IT business which I ran for 19 years until I sold it in 2011. I have been retired since then.
My wife, Sandy, and I have owned rental property for since 1973. We have owned or managed over a dozen different rental properties. We currently own and rent 3 paid for houses to supplement our retirement.
We received advice and encouragement when we started from my wife’s parents who had owned and rented several houses most of their adult life. But experience required that we learn a number of lessons as we continued in the rental business ourselves. Coupled with a number of changes in the housing market in our area over the years we have learned many principles of success in owning and managing rental property.
We have seen the demand for rentals wain and grow over the years. We have seen booms in the housing construction industry that flooded the market with used houses, we have seen interest rates go as high as 21% on home mortgages, we have seen the inflation rate hit double digits, we have seen the bottom drop out of the housing market, we have spent the whole evening without supper while prospective renters were 2 to 3 deep waiting to be shown an available house and we have gone 60 days trying to rent a house. We would like to help you be successful as a landlord.
There are 2 principles we have always followed. (1) We would never rent a house we wouldn’t live in ourselves, and (2) we have always treated renters in the way we would want to be treated. Remember, this is a service business, providing people a place to make their home.