All Forum Posts by: Elizabeth Schartman

We do not have LLCs for our 2 properties (mortgage rate would have been a lot higher) and have an umbrella policy with Stillwater Insurance.  We have not had to file any claims, so I can't share this part of the experience, which is important!  Maybe another reader can?

Hello, I am asking for a friend...trying to find a PM for 3-4 single family rentals in Monmouth County, NJ.  I don't have more details unfortunately.  If you know of anyone, or can advise on best ways to find someone with a great track record, I would truly appreciate it.  Thanks!

Thanks Bob and Greg, I appreciate your responses and ideas!  Finally the unit is rented to a tenant that passed our strict criteria so thankfully this is a non-issue for this one.  Cheers!

I've been asked by my PM if I'd consider using RentZap to handle showings.  Has anyone used this?  Seems to be for the Phoenix area but can't seem to find a lot of info online about their liability or reviews, so am not impressed so far.  Thanks for your insights!

Hello, I have an eviction action judgement against a former tenant and wondered if anyone had used a debt collector in the Phoenix area that you would recommend, to help collect the overdue rent and fees outlined in the judgement?  Also curious about what rates are reasonable.  Thank you.

I used Hull Holiday and Holiday as well, through my property manager.  Very efficient process.

Thanks @Bruce Woodruff, you're right - I didn't quite get this.  Appreciate that.

Hi Trent, I'm very sorry to hear what happened.  Something similar just happened to me, but the dollars are much lower.  You may want to check out the thread for ideas.  Best wishes to you as you navigate this to a better place!  https://www.biggerpockets.com/...

Hi Keith, I found mine via MLS. I created a calculation to determine whether the deal was worth pursuing, based on the list price versus the expected rental income. Once I determined how much I wanted to cashflow (based on what was reasonable in the area), I divided the list price by the expected annual rental value (used Zillow rental estimator) and anything that resulted in 13.5 or less made it onto the next step. Next vetting step included figuring out all costs - vacancy rate, repairs, HOA, mortgage, etc. Then, on to the purchase process, making sure to stick to my numbers. Best of luck to you!

Thanks @Joseph ODonovan, I like your approach.  How do you quantify a negative social media profile?  So you see something negative, but you can't really use that to exclude the potential tenant, right?