All Forum Posts by: Chaelynne Hernandez

How did you scale to 48 properties so quickly?  Please describe your process.  Much appreciated!

Hi,

  I am just starting out and have my rental on FF.  However, I am getting a half dozen unmatched housing requests for approximately half of the rental price.  I have a 3 BR / 2 BA ranch home for $2,950.  These are single person requestors.  Does one try to negotiate the rental price with the unmatched housing requestor?    Any insight is much appreciated!  Thanks!

For my first property, I went to a local attorney to create my LLC. The cost was $1,200 which included TN $300 fee. The attorney did everything (pulled the federal EIN / state / local city business permits. She put it in a nice portfolio and spent the 1.5 hours going through every document plus my requirements. My personal opinion is that if you ever need an attorney for tenant issues, it would be good to establish that relationship upfront.

PS:  I'm just starting out...so a rookie at best..... 

I'm in the same boat as you - have a good amount of equity built up in my rental but no bank will give me a HELOC because it is not my primary resident. For my bathroom add, I had to go thru the loan route with the contactor who did the work. Does the construction company you are working with give you that option? Hoping for the best!

I'm in the Rehab / Rent Phase of my 1st rental.  Rehab has pretty much commenced here in May.  Currently listed on Furnished Finder / Zillow / Facebook / Craigslist for 30 day+ rental.  Getting quite a few "tire kickers" inquiring but have not advanced to the next Renter Phase of Application and Screening.  

Hi Nathan,

  Yes, appreciate the advice.  I have the screening process standards, TN written lease, and have read the TN Landlord Laws.  If you or anyone else has some pointers, please by all means advise :)

Have read the Brandon Turner series of books - CHECK

Have read the American Nomad and 30 Day Stay books - CHECK

Have just listed on Furnished Finder and completed the verification process - CHECK

Wish me LUCK!   MTR available May 28th!