All Forum Posts by: Derek Janssen

Why are you considering renting to them?  Are there no other applicants?  I would not be considering that applicant. 

Congrats man - you’re on a great path. I would argue that you can do it all with SFHs. Since you are living in the area, it’s easy to keep an eye on them. Keep in mind you are working a 2nd job and at some point, living in a construction zone will grow old. I think financing is currently a major roadblock for many. Stay on the grind and the universe will answer. 

It sounds like you’re pretty set on investing in the Austin market (which I’m not familiar with except that my mentor exited that market 2 years ago due to tax increases). Maybe some deals are presenting themselves now. I would recommend writing down goals (short term 1-2 years, mid term 3-5 years, and long term 10+ years).  You seem determined to make things happen. Don’t worry about the bumps along the way - we’ve all had them and it’s part of the human experience. 

No. Had a fridge go out. “Well we can only get someone out next Tuesday.” Then, “Well we need to order the part that’s out of stock”

So they wait you out on expensive items that tenants can’t be without.  (Air conditioners and Refrigerators).  
Not worth the headaches and hassles badgering these people to make good on their commitments. 

I use Patrick Mitchell in San Rafael

I’ve actually gotten an entire appliance set on Craigslist bc the seller was swapping out black appliances for stainless. The appliances were one year old and contractor was just trying to recoup some money. Obviously the market for used appliances is small.

In Phoenix, I found a local appliance dealer called Spencer’s who was great to work with. Here’s what I liked:

- I had the same salesperson throughout the entire process which involved rescheduling delivery twice due to tile not being done. 
- handled the entire transaction over the phone which Lowe’s would not do (they required me to sign something in person)

- comparable prices with better customer service

- emailed me the quotes and specs of all appliances 

- removed my old appliances for a reasonable fee

- I’m supporting local small business like myself not some CEOs multi million dollar bonus. 

+1 @Alan Grobmeier.  Tenants deposit rent directly into my bank or thru Zelle, or another no fee electronic payment system.  Also, if there are multiple renters in a house - put one person in charge of the rent.  Also, I had a tenant who liked to pay the rent in different payments, so I kept charging more to feel my pain.  Like Alan, Excel is your friend, but I use Google sheets - accessible anywhere from any device.  I modeled it after Quicken Rental Property Manager.

My tenants deposit directly into my bank account and I use Google sheets for my balance sheet.  I modeled it after Quicken Rental Property Manager.  Kinda low brow but it works.  Nothing fancy or sexy, but accessible from anywhere, any device.

My realtor does a lot and I have a handyman who is a retiree who does a lot of my work for me.