All Forum Posts by: David Chwaszczewski

Sorry, every first Wednesday.

@Chris Mahar We have a meet up every first Monday at the Golden Coral on Anderson.  Starts at 6:30. Hit me up if you have any questions.

I agree with everyone on this.  You just need to disqualify the applicant and move on.  There is a great chance they will burn you due to their track record. 

Craigslist is crazy.  I have posted my rentals and had people calling me saying they will give me what i am asking if i let them qualify the tenant and pay me the rent.  They were saying they make their money charging more.  I just hung up.    

@Jose V. join your local REIA and start your networking. I would look to see if you can find someone doing this and see if you can offer assistance to them for thier knowledge in return.

@Amil Nunez Also look at your HOA and see if there is a percentage of units needing to be owner occupied Vs. rentals. You don't want to move and then the HOA tells you you can't rent it and then its sell or move back in.

@Account Closed We put in our contract the rent raise at the end of the lease.  I use this as a negotiation tool when lease is up and looks like I am helping them out, in reality if i loose a month of rent and have to get a new tenant i will loose way more then just an increase would get me then next year.

If you decide to raise rent you should keep to an amount that doest make the tenant want to look around and move out.  I think 3-5% increase on properties that collect rent less then 1K will not cause much reason to shop around and cause you  a vacancy. 

If you can find a contractor who will finance their work and material for you give me their number!  Most contractors will want material cost upfront or payment when you get to a certain part of a job.

@Mike Bicho  It all depends on your investment strategy for that deal.  If you are looking for cashflow then 30 yr is your best friend.  

@Quynh Le Congrats!  Looks great.

Not sure i would go so far as to double your rehab budget for the items you missed, I would suggest next time have a home inspections done for around $350 and you could have caught most of the items and been able to budget accordingly.  If you always double your budget you may pass on deals that are good but numbers don't work due to high budget.