All Forum Posts by: Ashley St. Gelais

@Jorge Soto

It might be wise to see what the rules are in your state/town about charging tenants for water usage.  Because you plan to include it with rent, it's not as important.  

We manage properties in Vermont and in the city of Burlington, tenants cannot be charged for water usage unless each unit is separately metered. Across the river in Winooski, tenants can be charged for water usage even if it isn't separately metered as long as the lease states clearly how the charges are divided up amongst the units.

Best of luck!

Hey @Joel Florek,

Love that you are thinking big!

I'd suggest putting together a presentation that details 1st the benefits to the partners, why they should invest with you (who you are and what skills/chops you have) and how the deal structure would work. Also, have a detailed break down of the potential investment properties along with expenses, income and ROI.

Do it confidently and again gear it towards how you are creating value for them!

Good luck!

Ashley

@Sam Leon

I agree with Nick and Michael. I do think that you have a good opportunity here.  Perhaps the new tenant could stay elsewhere and move in on November 1st.  I'd suggest doing a move out inspection on the 31st and again a move in inspection on the 1st with the new tenant. Let the tenant know that because of the short time frame, she'll move in to the place in as is condition but that you and her can make a punch list of items that you'll fix within her 1st 2 weeks of tenancy.  (That is of course considering that the improvements are easy ones to do while she is living there like patching holes/replacing doorknobs.)

If you did want to accommodate an early move in, perhaps the current tenant would be willing to accept all responsibility for any damage until the end of October... That would benefit her because she wouldn't have any lost rent taken from her deposit and she'd be helping out her friend.

Hope that helps!

Ashley

Hey @Chase Webster,

Welcome to the community!

It's a great way to get into the landlording/rental scene.  My best piece of advice is to make sure you qualify any tenant that you let move in. It's the most important piece of the puzzle.

Best!

Ashley

Hey @Joshua Baker!

Welcome to the community!

I'd suggest taking a look at Patch of Land for short term funding. Using someone else's capital can help you to do more deals and helps to reduce your out of pocket risk that you'll run out of money.  

I do agree with @Percy N. about finding a partnership as flips can be more risky, especially with timing the market correctly.  

Doing a few flips first will certainly help to get more capital to invest in buy and holds.

Best of luck!

Ashley

@Chris Carroll

Hey Chris,

I'd say get quotes for the ongoing costs (PM, insurance) so that you can properly estimate them in your ROI. The PM should be able to give you more information on the vacancy rates in your area for commercial space so that you can properly account for that as well.

Once you close you can make the final call on which providers to use.

Hey @Account Closed! Always great to see you around these parts!

Ashley

I'd love to invite you to my upcoming webinar.  

You'll discover our real life story of how we built a real estate portfolio worth over $1.35M in 8 years with about $35K in our own cash. 

How could some #REfreedom change your life?

Please join us by visiting:  https://goo.gl/Lc59ha

No sales pitch. Just awesome content!

For any of you out there who are wondering how far you might be able to take real estate investing...

I'd love to invite you to my upcoming webinar.

You'll discover our real life story of house we built a profitable real estate portfolio worth over $1.35M in 8 years, with just about $35,000 of our own cash.  

How could some #REfreedom impact your life?

Lastly, I pinky swear not to be some scummy, scammy presenter like you are you might be used to seeing in this space!

@Jay Mitiguy

Sorry I missed the last meeting... Would love to attend the next one.  Is there a date set for that?

Thanks @Account Closed for the mention. : )

Not too bad at all!  Good luck!  : )