All Forum Posts by: Derrick E.

It’s a blue state so that’s a hard no from me personally. 

@Drew Sygit are you saying that you can’t start a property management company without being a licensed RE agent working under/through a broker? 

Legally required? No. Should you do it? Absolutely. 

Quote from @Carlena Austin:

Any recommendations for a reliable handyman and/or general contractor to assist with rental properties in Huntington? 

 Yes. Feel free to send me a PM if you are still needing someone. 

Quote from @Travis Timmons:

I view the tenant-landlord relationship as a vendor-customer relationship (even though it is not exactly that). If you can swing it, tell him that you'll pay next month's bill for him as a courtesy. Or do something like a one time, $200 credit...not sure of the exact solution, but be empathetic. It's not your problem, but it sucks for your tenant. I'd kick in some money if it were me - especially since it is a good, long term tenant. 

 Would you chip in for groceries as well? Just curious where you would personally draw the line?

The property next door with gas, is it rented for the same amount? If so, then why not check in to getting gas heat installed? It would be worth it to keep a good paying tenant imo. If its rented for more then you could once again look in to it but let the tenant know how much the rent will be increasing to keep it in line with the rental next door.

Good news is that winter is almost over so you should have some time to think about this before next winter. 

Quote from @Chris Davidson:

@Derrick E. That was a great description, and why you need a boots on the ground person familiar with the area. Appreciate your time. Hope you a productive 2022

Yes sir. Little things can make a big difference. You have to really know an area or partner with someone who does know the area. In some cities there is a major difference from one block or street to the next. Something that outsiders wouldn't know. 

Quote from @Chris Davidson:

Quote from Derrick E:

I know which property you are talking about and no, I wouldn't do that deal if I were you. 

@Derrick E. now you have me intrigued. What is up with this property and would you mind taking the time to explain why this is not a good deal and provide for a good teaching moment. Finally what's the address?

 Simply put, it’s over priced. It’s not a true 8 unit. It’s 4 separate duplexes all on same lot. They have 4 roofs to maintain, not one, which is one of the main reasons to get a multi family. 

The property is located a little bit off the main road and north of the city. If it was West of the city then it would be a different story because west of the city has higher prices because it’s between both Huntington and Charleston. Being north of the city means you are only drawing tenants who work in Charleston so your tenant pool was just cut in half. 

They priced the place as if it was west of the city, and that’s why it’s still sitting on the market. 

@Michael Barido I know which property you are talking about and no, I wouldn't do that deal if I were you. 

Clarissa, feel free to send me a PM with the address if you want to sell it. I would be interested in looking at it.