All Forum Posts by: Hyram Ramirez

Hello @Steve Porter, that is a very good subject and I too have been on the hunt for an app like that. Have you found one? IF so, which one is it?

Hello @ Brian Camey, I think the best option would be to first of all do the screening first to see what might show up, then I would make a decission from there. Now as far a prepaid lease, if and only if the screening doesn't look to bad the I would probably do a 6 month lease prepaid and then go month to month. Just please, please, please screen thoroughly and of course go with the gut.

Thank You @Stephen Brown! I will definitely write the utilities transfer agreement in the lease. I am a firm believer of not paying for utilities if I'm not the one using them. I am planning on providing washer/dryer as it is convenient for the tenants, but what would be a fair charge? I don't want to get into your numbers ,but I simply wouldn't have any idea of a fee for that item. A laundry mat in my area is charging 3.75- 4.25 per load on washer and 1.25 for dryer. I would obviously not charge for load but just trying to get a fair number to include it in monthly rent.  

Thank you @Brad Hammond! Yes I agree that every region is different. I have done some looking on other renters in my area, but I just sort of wanted to get a feel for what other regions include. Kind of searching for ideas to stay competitive while also adding to my rental income. Thank you for the tip on pet fee as well. I was just going to do a flat rate for the whole lease, but it seems more cost effective doing a calculation per month. Great advise and once again, Thank you.

Hello BP, So Last week I posted about a potential Investment Property. Well Good News is that I am under contract and loan is in process for my first buy and hold property!!! I will need to do a little bit of rehab, but it will be ok. So now I am trying to get some help with land lording. I Know that I have to screen my tenants thoroughly. The property is a 3/2 house and will be listed for rent @ 1600/month. I know every market is different, but I was wanting to know things like, what should be included in rent? How much security deposit should I charge? Do I pay any Utilities? Should I include free WIFI? Alarm Service? Do I provide washer/dryer or do the tenants? Do I maintain lawn or tenants? Pet Fee? Should I rent out 20'x20' storage shed in back? If so How much? Any advice helps. Thanks

Sorry I should've said more details about property. So ARV will be about 170k. But, this will be a buy and hold type of property and I should be bringing in 450 dollars/ month cash flow once it's rented out. I don't plan on selling it once it is purchased but if I were to sell I would profit about 30k. I was just wondering if it was worth doing the repairs and investing 10k after it is purchased or is that to much to put into a rental property.

Hello every one, so I'm fairly new to investing and I am in process of buying my first Property. So, the property was originally listed at 145,000. We negotiated down to 135,000 before inspections. Well inspections came back with cosmetic items but it also came back with some big Items (needs roof, water heater/lines, ac ducting needs to be replaced, and termites were found in shop in back. The seller is offering to pay for everything but the roof but the sell price will stay at 135k, or the other option he offered was no repairs at all with sell price of 128k. What should I do? I do have roofers giving me estimates today.