All Forum Posts by: Erik Nosich

thank you, my mistake, new to bigger pockets,  I'll move the thread. 

Hey all, I have a situation that I need some advice on. I have an older couple (late 50's) that are themselves, great tenants. Always pay on time, great communication, and keep the place clean. They have an adult son and daughter in law that are there all the time. In February, I confronted them about it, they admitted they were living there, and I gave them a few choices, and they decided the son and daughter would move out. They were gone one month and moved back in. They don't know I spoke to neighbor and the neighbor stated to me that the mother said they had a housesitting job for that month and so they moved back in when that ended. We confronted them today, and the mother stated that her son was in an accident 5 years ago and his doctor said he had to stay with someone to watch him, and he couldn't be alone. The renter further stated that he comes to the house every weekday, stays from 8-8 and often stays the night. She said that they have a lease for a place in the next town over, and she would provide a copy of that. There was no bedding or extra clothing that could be easily seen while we were there. The mother and father are the only ones on the lease. The question I have is what constitutes "living" at a location? What recourse, if any, do I have? Any advice would help. Thank you in advance for your help!

It is my opinion that anytime most people are spending money on something else(think Christmas), is when sellers get motivated. November December and January are fantastic times additionally because it's cold and may require a little more effort. If you live in the north, however, i think it's important to observe what happens during the snow melt. I.e. Flooded basements, ponds created from snow melt in yards, etc.

I'm just looking for cash flow alone, and all my properties are well purchased so I can drop rents a lot and still be profitable, so I am going to hold onto what I have.  I bought a well priced 4 plex that we rehabbed all the units and added an additional unit.  We will be making about 500 a month while living there, then I estimate to make about 1900 after we move to the next one.  

Yes the market is softening. In past years, anchorage had a 2-3% empty rate in rentals, currently they are sitting at around 5%. Weidner properties, who own a significant percentage recently announced that they would be dropping rent prices by 10% to get them filled. That will force the rest of the rental prices down to compete. Perhaps less profit is forcing those that have small margins to sell? I still think the asking prices on the mulitunits are generally too high.

Looks like Ocwen is going down. http://www.bizjournals.com/austin/news/2017/05/08/texas-regulator-orders-ocwen-loan-servicing-cease.html

Pm me and I'll give you his number. His name is Adam Heafner.

Like what Andrew Johnson stated, find out if there is a demand. No demand = no income. My wife and I run two- two bedroom units out of a four plex on a creek. We do this for the summer season in Anchorage. We rent out during the winter. The major thing when you are running a Airbnb, is cleanliness. I have stayed at not so nice ones, and at awesome ones. Some people's definition of cleanliness is different than others. If you hire out the cleaning service, constantly verify a high level of service. That's a huge part of your business.

I have just began to look at this very thing. This is what I found so far: Rentec direct Turbo tenant Cozy (they use checkr) These are also full management software here as well. Good luck!

it is a two bedroom with a futon in the living room, so maximum of 6.  We charge anywhere from 140 - 160 per night, depending on demand.  We have a minimum 2 night stay, and we charge a $50 cleaning fee.  We are priced below market to keep it filled!