All Forum Posts by: Ana Hyler

Thank you guys for the responses and thanks Chris for offering information and references to research your company. I will add you as a colleague and contact you via that way. I would like more info on how things work to make an informative desition on my next investment out of state. Thanks.

Hi everyone, I started looking into Memphis Invest as it looks pretty attractive as far as the property prices and rents bringing in. It's a turn key sale of a property ...they sell it to you, they manage it and the even do the re-habs if needed?
Any info would be appreciated.
Thanks, :roll:

We have also used the home depot epoxy kit a few times now, About $40 materials and for labor hired my painter who charged me for 4 hrs work. Looks good enough, haven't had any done for long enough to determine durability but the tenant is happy.
Hope it helps.

I get complaints from my MF...and they are noise and smoking (although no smoking inside - some don"t abide by the rule). I have no complaints from my SFR and never had a complaint about rent. About noise complaint....I tell them to call the police as the city has a 24hr noise ordinance in place.

About pest control, if we have complaints from renters, we go out and buy a few cans of insectiside and give it to them. That usually takes care of it.
About overgrown grass, we send them a notice that they must comply with the contract or that we can have it done for a fee. They usually do it then.
Good luck...
And to Bienes Raices, I have never tryed your method, so I cannot help there.

Steve, thanks for the advice on possible issues. I never thought of it that way - I will be watchful. :cool:

Speaking of this topic....I'm having a tough time renting my basement level apartment in a 6-plex. Only 2 showings in a week. WOW ! Not liking this down cycle. Anyone else having this issue?

This time I've been offered cleaning services...I actually took it !
She said she is having a tough time coming up with all of rent money...but she can clean and stuff for me. I took her offer...she is now cleaning 2 of my 6-plexs twice a month (common areas) hallway, stairs, laundry room, and some outside common areas. I'm discounting $80 from her $450 rent.

My rentals are in Lincoln, NE. My contract states that rent is due on the 1st. and then I give them a grace period till the 5th. Late fee is $20 and applies on the 6th. and $2 a day there after. I usually charge late fee...but don;t charge them the $2 daily...I think I'm doing wrong... but I've never done it. Usually I listen to their sad story and try to work with them...if nothing happens on the 15th. I send them a 3 days notice of Pay or Quit.

Your purchase price is too high...and your estimates are too low. Unfortunatly...like jon said...your 6 to 8 weeks holding time is not realistic at all... and you only consider interest in your holding cost....what about Tax, utilities, insurance, etc ? 6 months sometimes more is reality.
Anyways....I don't think this is a good buying price.
Best to you and keep us updated.