All Forum Posts by: Andrew Acuna

Mindy Jensen episode 109 with Scott Smith by far! This changed my mindset about set up! Love it!

Well, I’m back! I recently decided to take a break from the forums and finish up the podcast. Back in may I started on episode one and yesterday listened to the most recent one! In that time I’ve acquired a new 4plex bringing my total to 8 units and I have learned an invaluable amount about systems and how to run my real estate business. I’m excited to start generating off market deals as I believe this is my next step. Thanks so much to Josh and Brandon for the amazing resource BiggerPockets has been in my life!

I've had a few vacancies and all have gone smoothly. Recently I had one when I acquired a new 4plex and it's taking a lot longer and seeming like I have a lot less interested. I'm wondering your take on how you fill quickly. I'm currently considering dropping rent, but it doesn't sit super well with me as this has not been a problem in the past. What do you think?

William S. I'm the owner. But I don't really fear conversations or awkward moments. I take a friendly but stern approach to landlording. I have policies in place and I stick to them, but I NEVER make it personal. It really is preference in my mind, I may change some day but that's how I do it now!

Peter Kim you can do it yourself. I fully disagree with Robert Gilstrap you simply need some education. My first step would be to download your state laws and read ALL of them. BP is a great resource for leases and docs, but I would have a lawyer look it over. I use cozy for collection. I NEVER touch money check or otherwise. Spend some time reading and you can do it, if you have any amount of drive you'll be fine. Property management is not worth it in the beginning- that said you should still budget for it.

Steve DellaPelle I don't mean this to sound harsh, But not collecting a deposit is an awful idea. If you're okay being out that amount of money just take it off the first month of rent (I would personally not do either). The most attractive thing is a beautiful well cared for property. Second to that have professional photos taken and take the time to leverage all the online postings (Zillow, Craigslist, etc).

Ryan Phillips I would add that you should have a cost sheet for every possible turnover item, down to changing a light bulb (I charge $5). That way you can easily answer these questions in the future. Can you get another quote for floors?

Camron Cottam some lenders are quite dramatic

Camron Cottam Chinmay J. I'm with chinmay it's not grey whatsoever. If I live in my 4plex what I do with the other units is my business. I've been very upfront with my lenders and it hasn't been an issue. If any lender is making it an issue they're just being a stick in the mud.

Jd Martin Chris Shuptar I do the same thing as JD. It's spelled out in my lease that way. I think it's a very fair way to do things