All Forum Posts by: Gregory Schwartz

@Ashley Wilson The person would help manage 26 units (8 midterm rentals and 18 LTR), they will also assist in leasing listings for my investor clients. We expect 15-20 lease listings this year. Finally they will help as a buyers agent on my REA team 

Im facing this right now as we look to hire a PM / Leasing Assistant for my RE agent business. Thanks for the post! 

BUY THE DIP

Screening takes both time and money. If we fully screened every single inquiry upfront, we'd spend all day screening and never have time to actually show properties.

That said, I highly recommend pre-screening. This means asking potential tenants—multiple times—if they meet your minimum criteria, whether they have pets, and if their move-in timeline aligns with your availability.

By doing this, you can easily weed out 50% of inquiries and avoid wasting time showing a vacancy to someone who isn’t planning to move for another six months.

1. Buy a rental property that breaks even
2. Get a high-paying job $300k+ per year
3. Live off half, invest the rest for 10 years ($1.5m is 20% down on $7.5m worth of REI)
4. Retire

Here’s how I’d approach this:

Keep Rent Increases Reasonable but Strategic:
I try to cap rent increases at no more than 4% annually, as long as that keeps us under market value. In your case, a $100 increase feels reasonable. You're still offering them a deal—if market rent is $2,700+, letting them renew at $2,550 saves them nearly $2,000 over the next year. Be sure to communicate that clearly so they understand the value they’re getting.

The Dog Is a Separate Issue:
You're right to have concerns about the dog. We allow pets but charge a pet fee and are very clear about expectations. I also make it known that if there are any signs of aggression or property damage, the pet may need to go. It’s all about setting boundaries early.

Careful with Tenant Responsibilities Like Gardening/Snow Removal:
I’ve had tenants handle lawn care, but even that can be hit or miss. If they don’t follow through, you’re stuck deciding whether to penalize them or just take care of it yourself. In many cases, it’s simpler to raise the rent slightly and hire out the maintenance. It keeps expectations clear and your property well-kept.

Good luck!

The joys of managing RE. These are a few things I've learned from managing 100+ rentals 

- You need to be in control of the situation: At the end of the day, it’s your house, so don’t let the tenants call the shots. Stay in control.
-Kind but Fair: The lease is a two-way agreement. If they’re not holding up their end, it’s time to move on. Gotta be fair, but don’t let things slide.
-Utilities First: No keys until they’ve shown proof of utilities in their name. Simple as that. I'd change your lease for future tenants.
-Transparency is Everything: Let your tenants know upfront that things like trash and mowing are their responsibility, even if it’s a shared space. And make sure the rent reflects it.
-Handling Complaints: Sometimes, complaints just mean they regret their choice to rent your place. I’ve found that saying, “I don’t think you’re happy here; this is your one chance to break the lease without a fee” usually gets things sorted.

A lot of these lessons come with time, but that’s the game! 😊

26 Doors, $350K

We’ve built our portfolio using owner-occupied house hacking, seller financing, cash-out refinances, private money, and partnerships.

While the cash flow from these properties isn’t quite enough to retire on, we’ve built significant equity through value-add opportunities. Our strategy is to roll profits back into the business, either through capital improvements or acquiring additional rental properties.

The ultimate goal is to have more than enough when we need it, though thankfully, we don’t need it right now.

Hope this helps!

Love house hackers. It shows a level of commitment to your financial future that others arent willing to do. 

It feels weird to interact with your neighbors while also being their landlord. I felt the same way when my wife and I moved into our first house, a fourplex. What we found is that it was just easier for us to be upfront and transparent. It was a lot easier to communicate without having to create this fictional landlord who was collecting rent from us and the other tenants. 

We also set up a DBA and a business checking account for all the rent to be paid into and bills to be paid out of. This made it easy for us to track expenses and way easier on our CPA at the end of the year.

Hope this helps. Good luck 

I've been 85-90% occupied off of Airbnb alone. We dropped FF because of the need to screen each guest and have them pay a deposit, too much work hahah