All Forum Posts by: Ed Morrison

@Rich Littlefield

"That does not seem fair." 

Agreed.  One of the best pieces of advise we received when starting out with our rentals was to keep the utilities in our name and bill the tenants for those utilities (the tenant pays for all utilities).  We do not see how the homeowner is responsible for the usage of the tenant but we also do not want liens placed on our homes.  So, in this manner we know what is going on and have control over the results.

@Frank Patalano

That would be investing as a passive investor.

Age is holding me back right now. I am 58 my wife is 56. We are setup for retirement right now and this would risk that. My risk tolerance is greater than my wife's apparently because I was ready to do this. I had her read BRRRR and she says no now but was ok with it before reading it (go figure). She's afraid there is not enough time to get it back if something goes wrong.

@Account Closed

Hi Elliott.  Thanks for your response.  We have never based rents on rentometer.  Current rent is based on exactly what you mentioned zillow and craigslist, trulia and some other site my wife likes.  

Your comments are interesting about rentometer. I never heard of them previously to reading BRRR this month. I was under the impression it was more of as standard than what others see it as though and as such was thinking about incorporating it into our rental price determination.

I have 2 rentals within a couple of blocks from one another and in the same sub-division.  One is a 2b/2b the other is a 3b/2.5b.  When I use rentometer to calculate the rental value the 2bd/2b is just under the 75% percentile and not in the red margin.  The 3bd/2.5 bath is almost dead center in the reasonable rent margin.  Zillow says I can charge another $100 per month on this house which would put it at just under the 75% percentile and not in the red margin.

Here are the questions, do pay attention to rentometer rankings to determine your rents?  If so, where do you determine where to set the rent from?  Do you stay out of the red our would put the rents you ask for in the red?  Our market is a good rent market.

Thanks,

Ed

@Hubert Kim@Hubert Kim

@Hubert Kim

@Hubert Kim

@Hubert Kim

@Hubert Kim@Hubert Kim

@ Huber Kim

Thanks for that.  I am following up on Sunday as I have 24 hour to inspect notice I am delivering to them

@Jennifer Rysdam

With the communication we have had since the notice it would appear they are complying.  As I mention to Huber Kim I will be inspecting the compliance on Sunday.

@Jennifer Rysdam

Thanks for the reply.  My research appears to point to the same answer.

Ed