All Forum Posts by: Erik Anderson

Your first deal should be close to you. 

What's the closest "affordable" location to you? I really think the closer you can be. The better. At least starting out. At least while you learn. 

That is a very good point about future rent increases. I don't know what his market rate rent is for that property. Perhaps is a bit too high. Might it be smarter to offer a slightly lower monthly rent in exchange for a tenant who feels more content. Maybe who even knows they are getting a good deal. In the long-run this could reduce turn-over, maintence costs, vacancy and the need in the first place to have to offer $500 discount off the first month's rent. In my scenario I think it's possible the landlord may come ahead. 

There's many good replies. Another thought to add. Instead of $500 off the first months rent, have you considered lowering the rent by $40 dollars per month? Renters may prefer paying 40 less per month rather than the one time $500 discount. 

Does anyone in the St. Cloud, MN area have a recommendation for a good and fair exterior house painter?

Congratulations!

Awesome, great job!

Live at home for very cheaply for a couple more years. Even on 40,000 income, if your expenses are low you could probably save half that or more per year. Two years of saving $20,000 and you'll have $50,000 when combined with what you already have saved. 

People with high credit scores are more financially savvy. I have an excellent credit score. What do I do when I am looking to buy something? What would I look for if I was looking to rent a place?

I'd look for a good quality property at a good value. I'd also look for a good quality listing. 

So, what I do is I list my properties slightly below market rate. Nothing drastic, but slightly. 

I also have a very professional listing, with good quality pictures.

People who are more financially savvy will notice these things. 

My belief is this: I'll make more money in the long-run with my strategy. 

The high credit folks on average take better care of properties, cause less headaches, and of course have higher performance with on-time payments. If they see value with the property they stay longer as well. 

I see folks more concerned about getting a specific dollar amount of rent than getting the right tenant in their property.