All Forum Posts by: Ryan B.

Right now my area has a strong rental market. I only do what will make the rental clean and safe,in addition I also do new paint. I just picked up a 3 bed for $27k, put $250 in paint and misc., and rented it out in two days for $550. Total out of pocket was about $4500 including down payment and everything.

The roof leaked in a couple spots, I spent $40 on some roof tar instead of replacing the roof. I could have spent the extra $3k for a new roof at this time but it would not have added any extra to the rent. I am satisfied with saving that money for now and replacing stuff only when it is needed.

I would have made the exact same decision. The two military guys sound like ideal tenants. Let the old lady whine, it was a business decision.

I would do a routine inspection and if there is a dog let the tenants know they are in violation of the lease. If they do not get rid of the dog you will be forced to evict them.

My tax person is also my cousin so I get a heck of a deal. She owns several properties herself so she is familiar with rentals.

Personal taxes for me and the wife, 4 properties, kids deductions, itemized medical expenses, the whole shabang....price went up to $105 this past year.

You are getting the situation taken care of, so I would not reduce the rent. But that is just my opinion some may disagree.

I am the same as Jon, tenant must make at least 3x the rent.

Play tenant. Drive the area you are wanting to invest in and start calling the places that are for rent. Then see how long it takes for the place to rent. If it takes a real long time, they may be asking too much.

Your best bet is to call some local property management companies and see what they charge. It is going to differ from one area to another.

I know in my area, you can get some down to around 5% depending on how many units they are managing for you. There is also one in my area that charges 15% because he is the only one in town that will manage in a warzone.

I make sure my lease says I can show the house anytime I want as long as I give the current tenant notice. Does your lease mention anything like this?

Sounds like you have a nutball on your hands.

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