Bronx Newbie - Advertising Units

[Ryan C.]

Hello,

I am buying my first place in Bronx and under contract on a three family and will be living in one of the units.  I have a few duplexes in Atlanta but this will be first one I have lived in and managed myself.

Does anyone have an opinion on if it is better to market on your own or use a realtor/broker?  Also, does anyone have any suggestion on the best leases to utilize?

Also, if anyone have good lessons learned on doing this in the Bronx, more than willing to buying a cup of coffee if anyone would like to meet up and discuss. 

Regards,

Ryan 

[Ceasar Rosas]

@Ryan C.

In the Bronx most tenants expect to pay a Broker Fee. If as the landlord you can save time by having to answer every single tenant call, going through the qualifying questions, getting all the documents, etc... why wouldn't you. If you truly would like to do it yourself, make sure you use craigslist, facebook, zillow, trulia, apartments.com, a sign in the window, good pictures. You want to drive as many potential tenants to your apartment as possible to get the best one. Stick to a qualifier, set a minimum income such as 35 times the rent, minimum credit score such as 650 and no delinquencies in the last 3 years, no landlord and tenant court, at least 2 years work history, etc... Biggerpockets http://get.biggerpockets.com/forms/index/ has leases available, you can also look up online places such as legal zoom, law depot, and others. If you do work with a broker understand, you set the tone, you set the criteria and let them know that you will interview only those qualified, like that you are not wasting time. Good luck, hope this helps.