All Forum Posts by: Val Csontos

Why would u need a Software? My wife built us something using windows exel. We put in rent-rolls expenses etc and it automatically cross links and inputs/ updates the tax survey documents. ( CPA uses them to update our tx returns)

Years ago we tried several "off shelf ones" but was just waste of our money and time.

There are no real "secrets" just some observations over time :)

Speaking of secrets, may be we could meet one of these days for lunch? I will have some free time starting late next week. I will send you Pm.

regards

@J Scott

I don't know if anyone advised you yet on how to find quality long term Sec8 or Voucher Tenants? Here is how we do it:

As soon as we have found a family/single mom with kids who has their paperwork ready and is qualified for enough rent for our unit, (example.: 3 BR voucher for for our 3 Br house) than the next thing we do is we surprise visit the applicants the next day.

Many of the potential applicant live in slums with slumlord (un) managed properties and would like to improve their lives with a better property and neighborhood BUT what we are looking for in the family is those who maintains the house reasonable clean on the inside. How do they take care of their current place? Obviously if we surprise someone, we will not get perfect place but what really care about: Are the cabinets, toilet bowl, kitchen floor tub reasonable clean? Do they use vacuum cleaner? (some don't because it broke down, but the family have a brand new 50" tv) Visiting the family you will get a sense of how the kids behave in their own comfortable environment.

So out of all the folks came to see your place, say If you visit two family with the cleanest car interiors, (not the newest one, but rather the cleanest interior etc) You will be able to find your "A+" tenant.

Folks who maintain a reasonable good level of clean apartment/house, will most likely take care of your place if you do! And they stay as long as you need them! We had one single mom stayed for 10 years! Just imagine zero vacancy for 10 Years :)

Good Luck to you!

Ps We don't have many Sec8/voucher units, as we mostly have market tenants BUT we have experience with them because they are perfect match for units with odd layouts or for small units!

I does sound weird! I would not do more than 24. I had folks asking me about 36 months lease before, so I told him our policy is not allowing to lock us in for this long BUT i verbally insured him that the home will be available after lease is up with a small increase of 5-10% in rent!

Ps some "Artists" personalities are known to leave the property in the middle of the night/ never to come back again and with out letting you know!!!

Go on Ebay buy his course used, that is all you need! No point to waste your money EACH month for the same info or no useful info at all! Good luck!

Going back to "flickering lights" i had found out about two months ago if the lights flicker or halfway on etc.. and it "bounces" kind of like if the house was hunted, than you have a neutral problem.

In our case the neutral was loose on BOTH end of the cable coming to the meter. The power company did come fast, with in an hour because flickering can and does burn the house down.

How ever it is so extremely rear that even my master electrician friend with 40 years experiance behind him had to think back a decade since he saw one.

I schedule all tenants for Saturday between 1-2 pm! That way i get say 15 calls of whom 10 will say he/she will come and 3-4 will actually show up and 1 or 2 does an application for $30. If that person is not qualified than repeat once twice more! That is it. I will never wait for no shows any more!

Ps This statsiticis for apartment units, for SFHs the numbers are far better, espetially if the member is in the Military!

@Ryan M.

If you have long term goals, and you are buying in solid "bread and butter" areas I would go for two houses.

Just think of it: if your home's values are going up X % per year, with two houses you will double your equity/net-worth!

ps. of course your hassle will go up too!

But more pain = more gain. :)

@Christopher Reynolds who ever could damage your property, that is who i credit check.
Over the years I noticed if some one has great/good credit they almost never damage the property. That is also true even if some one had bankruptcy do to medical issues, BUT prior to that event, that they had great/good credit!.

@Jay C. Even if you can get rid of someone, with the law on your side, experience shows, it does pay to be decent with a resident of your investment property.Just a little civility, could save you thousands in plumbing, electrical, and fire and water cleanup and vacancy costs.......