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All Forum Posts by: Andy Petzold

Andy Petzold has started 3 posts and replied 31 times.

Post: First jump into the investing game

Andy PetzoldPosted
  • Vendor
  • Cedar Rapids, IA
  • Posts 34
  • Votes 66

Good Work! That sounds like a great first property.

I should have anonymously dropped a copy of the movie Ghost on her welcome mat...and a week later two vouchers for the local pottery classes.

Post: [Calc Review] Help me analyze this deal SW Cedar Rapids IA

Andy PetzoldPosted
  • Vendor
  • Cedar Rapids, IA
  • Posts 34
  • Votes 66
@Glenn McCrorey the last time I went in a bank and mentioned your name, I was quickly escorted out by security!! .... j/k :)

Post: Sub-Metering or RUBS with Low Rent Apartments?

Andy PetzoldPosted
  • Vendor
  • Cedar Rapids, IA
  • Posts 34
  • Votes 66

We manage properties that are setup in both ways in that price range. Most tenants don't seem to mind one way or the other. I'm sure they prefer to have it "included", but I can't say we get much protest when water is separate.

Post: Baby and first 2 rentals in 2 days!

Andy PetzoldPosted
  • Vendor
  • Cedar Rapids, IA
  • Posts 34
  • Votes 66

Congratulations @Brendan Moehn you are certainly on a roll this week!

Post: New development surplus in Cedar Rapids

Andy PetzoldPosted
  • Vendor
  • Cedar Rapids, IA
  • Posts 34
  • Votes 66

I think we've have experienced a significant softening of the market over the past year as a direct result of all the new builds. I'm looking forward to 2018 having fewer new units coming online so the market can begin to rebound.

Post: Tenant Lead - Cedar Rapids, IA

Andy PetzoldPosted
  • Vendor
  • Cedar Rapids, IA
  • Posts 34
  • Votes 66

What are they looking for (bed/bath/price)?

Originally posted by @JD Martin:

I'm wouldn't be against buying a new fridge, if this were my tenant, but it would be done on my schedule, not the tenant's demand to have a new fridge. The bigger point is not whether you want to give this lady a better fridge, it is that the tenants don't get to dictate the terms of living arrangements. 

Biggest mistake here, actually, was letting the tenant know where the fridge was coming from; a simple "we'll get you a replacement" was all that was required. It is none of the tenant's business where the replacement comes from, so long as it works and is reasonably comparable to the one that's being replaced. 

I genuinely like all of my tenants but we have a straight up understanding - this is not a quid pro quo or partnership. I am selling a service - renting my house - and they are buying the service. I set the terms of the service and they either agree, or they go buy a service from someone else. We always try to be accommodating when reasonable and possible, but also make it clear that we are working with them to have a happy existence and that we don't bow to demands. 

 For sure! She found out where it came from because she was home when my guys went to move it and it came from the unit across the hall. After a little further discussion she decided if the choice was to take the "ghost fridge" or wait a bit for us to get a new one delivered, she's happy to wait for the new one.

@Alexander Felice HAHA - I wish I would have thought of that!

@Douglas Krofcheck Thanks, we did confirm that it was indeed performing poorly and it was decided that because of the age and condition it probably isn't worth repairing.