All Forum Posts by: Aaron Linden

Mayra Guevara South Bend is a good market but you need to watch out for certain areas. Be sure to do your research and then visit and drive the city. There are plenty of areas I recommend avoiding, especially if you are out of town.

Hey Michael Lewis , Welcome to South Bend I am in the area and just finishing the rehab on my first rental. The REIA here is fantastic. Very education based with zero pitching. It is free to try one time, I highly recommend you come to our next meeting.

Thank you all for your feedback. I really value the differing opinions.

I agree and I would never lie, but I do not feel it is necessary for my tenants to know that I own the property. I think it adds a lot of unnecessary complications and difficulty. If they were to ask me, I would certainly tell them.

I use Metro Title. They are great and should be able to accommodate you.

Hey BP,

I am ready to accept my first tenants in my first SFR! I would like to remain the 'Property Manager' and not the 'Owner' in the eyes of my tenants. I have not yet set up an LLC and I would like them to put a deposit on the home in order for me to take if off of the market and prior to lease signing( I plan to apply this deposit to their first month's rent). In this situation, is there a way to accept this deposit without them realizing the owner is me? If a PM asked me to make a check out to them I would think it is pretty shady.

Note: My plan is to set up electronic rent payments through rentpayment.com so I think this should allow me to remain anonymous from that perspective.

Thanks in advance!

I just wanted to update everyone. I did end up showing the house and the group loved it. They seem like promising applicants. Now to follow up with previous landlords and background/credit checks. Thank you all for the great feedback!

Wilfredo Pacheco I am in South Bend and would be happy to drop by and update you if it is in the area.

Wow! Thanks to everyone for the great responses! I will definitely show it now as it has very little work left to go.

@Mike Wood I hope showing it works out in my favor in South Bend. I think the risk is low because I am under market rent so if I lose this one prospective tenant there should be plenty others even without students. I have the same concern about showing it even a little not done though.

@Robert Melcher I love the spin you put on this. Pitch it to prospective tenants as, "We find our properties like this and turn them into this, so we will definitely take care of it when you are in it".

@Steve Vaughan Thanks for the tip on 'needy tenants' I will check it out.

@Nancy Curran Glad you picked on to this! :) The door actually broke so I had to purchase another one. It is going on tonight! I definitely cropped it out in the pictures I posted to the web!

@Justin Fox I didn't realize that. I will read up further to confirm. Thanks for the heads up.

Hey BP,

I have a house (my first rental) that is mostly finished besides an unpainted stairwell, tools laying on the counter, and installation of 1/4 round (and that missing cabinet door). 

Practically speaking, what is your advice on showing the house to prospective tenants in this condition? I think it is low risk (as there is no major construction going on) but would like to hear some experiences possibly from an angle I have not yet considered.

Note this house is near Notre Dame in South Bend and classes begin August 23. I have communicated the property will be available September 1 for move in. Just for reference I have provided some pictures.

Thanks!

James Gilpin I use the same method as Roger Pokorny and I have the same beliefs regarding CapEx, maintenance, and property management. Analyze your deals including them, it is always nice to have an emergency fund even if nothing goes wrong (it will) in 10 years. Having said that I think it is a good deal! Let us know how it goes!