All Forum Posts by: StacyA McBain

Our first meeting on "The Investor Cycle" was a big success and you're very welcome to the second ever Avid meeting on Wednesday June 17th at 6:30 p.m. RSVP requested. 

Free. Beverages, beer and small bites will be provided. RSVP requested.

The June presentation will include a market update, rental market update and feature presentation by Tony Drost associate broker at Swope Investment Properties and owner of First Rate Property Management in Boise.

Management Matters
Tools, tips, and recommendations from managers, for managers. Best practices aimed at those who hire the pros, those who DIY, those who DIY but shouldn’t. Need to stock up your property management tool box? These takeaways won’t appear online (but you can ask for the documents and resources you need and we may be able to help).

Disclaimers - No pitching, but presenters are agents at Swope Investment Properties and mention of "coming soon" listings (haves and wants) are a part of the agenda.

Please RSVP to me at [email protected] or 208-921-0630 - I'll be out of the office for a few days, but will be able to reply to all inquiries the week of the event. Thank you for affording me the extra time! 

Thanks for your consideration!

Stacy

Our lease stipulates that early termination results in a fee and loss of all deposits. We usually set the fee to the amount of one month rent. Your lease should stipulate what happens in the event of an early termination. If it does not, that might be good verbiage to add for their replacement lease. Incidentally, I also have a clause that offers if the tenant finds their own replacement who meets all of our screening criteria, and if we screen, accept, & sign them in at no vacancy to us, the fee will be waived. If you had any other interested applicants who looked good, it could be worth checking back in with them as well.

Great - following! 

I have a vacation rental in Boise that I rent short-term/1-3 months during the off-season (winter) and even shorter term in summer - more traditional vacation rental style. I have used AirBnB to DIY and a local vacation management company Vacasa. 

I would think that promptly fixing the problem is the solution and that you have gone above in beyond for your tenant. Nicely done. Stuff happens and if you fix it promptly and easily, I don't believe that you owe any consideration (particluarly for a lesser-used function on an oven that took him 15 days to bother reporting and surely didn't cause him real damages). Good will is great to generate with an easy $50, but I'm also hesitant to set any precedence that promotes entitlement. More importantly, I'm reviewing my lease/updating if needed, thank you, @Joel Owens - that is a good idea to ensure timely reporting is included. 

Hi Derek, 

Welcome! You're in the right place (you can interpret that to mean Boise, Bigger Pockets or both :). Although screaming deals are more sparse these days, there's cash flow to be found with the minimum down payment. This makes real estate a worthwhile pursuit, even if you're only here for a year, in my humble opinion.

We'll briefly touch on "managing from afar" in our next Avid Investors meeting "Management Matters." Avid is an Idaho Real Estate Investor's club and you're welcome to attend as well, should you follow @Paul Timmins good advice. The next meeting is June 17th (held the 3rd Wednesday of the month). This is a new club -our first meeting in May, "The Investor Cycle," was a big success.

I'm curious if you would be owner-occupying as well?

Best of luck to you! 

StacyA

Well done! The story, suspense and the success - looking forward to part 2. 

Swope Investment Properties in Boise, ID specializes in residential income properties and applies a numbers-based approach.