All Forum Posts by: Aaron Steinfeld

@Benjamin Aaker Thanks for your reply! Interestingly enough it actually wont take significant cash to turn over each unit as they where all kept up very well and can be updated well on a low budget. The owner has owned this property for a long time and maintained it well just never cared to raise rents.

But for sure I don't want 50% vacancy all at once, I do like your idea to start non renewals with a type of unit at a time.

@Trevor Richardson Thanks for your reply. My goals are to to get market rent on all the units through rehabbing them, and turning them over ASAP in a understanding and considerate way, All the tenants are on M2M is is still necessary to do C4KS or should I just give one group of tenants a option to renew or a 30 day non renewal?

Hi all,

I am trying to turn over a 50+ units MF property that the tenants are paying almost $200 a unit under the current market.

We bought it knowing this, and it was a value add property based off the rents needing a big bump. This property has tenants living there for 10-20+ years and there is never any vacancy (obviously). They are all on month to month leases.

From my understanding most tenants are on a fixed income and with a $200 increase I would guess 75% of the tenants would move, is that accurate? 

From the experienced MF investors out there what would we the best strategy to turn this property over? I am looking at a 2/3 year plan, with fixing up each unit after a tenant moves out, and starting to get higher paying tenants. I just would like to know what would be the best strategy and tips to putting this plan into action.

Like I don't want to come in day 1 and tell everyone there rent is going up $200 as then vacancy would be to high, and we would not be able to turn it over that fast.

Thank you very much for your time!

Has anyone found or created a CRM that can work with Reonmy. Reonmy currently does not have one that integrates with them and would really like to use one.

Thanks

@Jared Smith

High Rock pest control, the best pest control company I have found around Cleveland.

Curious to know if you guys enforce more people living in the house then on the contract.

Every section 8 house I rent out always has more people living there then on the contract. I understand some do that as that’s how they qualify for section 8 with almost no income, and then let there boyfriend/girlfriend, fiancé, sibling live there who has income also.

Also wouldn’t they get kicked off from section 8 if they find out?

My contracts all say that someone not on the contract can’t live there more then 30 days, but is that something you enforce?

I understand if your paying for utilities that’s a factor also.

I am really curious if the cities surrounding Cleveland are going to start implementing this also?

@Tiesha Mckeithan

Ryan at Golden Eagle Title is great! Use him all the time (216) 785-2323

Hello All!

I am new to wholesaling and I am really trying to create a good system for it, I want to know if I'm doing it right, and what would be the best resources for it.

-To start I need to figure a target audience, for that I would use something like Propstream to generate leads.

-I then need to get skip tracing to get phone/email for my target audience. (I probably can use Proptream also)

-With my contact info I would need to get a dialer to be efficient in my calling.

-With my dialer I would need a CRM to integrate my calling with notes, follow-ups and  all else.

Is the right system to to set up?

What do you use for Skip Tracing, Dialer & CRM?

Thank you for all you help.

Hi all,

I inherited a tenant that is underpaying, but it's worth it for me to keep her for the time being. She is month to month, so I can ask her to leave when I want. (hopefully soon)

Is it a bad idea to just keep her old lease agreement with the previous landlord and just add a Change in Terms of Lease Addendum to it, especially since I am gonna ask her to leave in a few months?

If yes is there anything specific I should make sure to have in writing?

Thank you!