All Forum Posts by: Jake Hedrick

@Matthew Masoud what is your process for furnishing the properties? Where do you get your furniture? Any must have features or amenities in your properties? How did you scale your management- are you managing yourself or outsourcing? How are you finding your deals? What metrics do you use to find your target market? (For example you mentioned you are expanding into NC) thanks in advance. Congratulations on working so hard to get where you are!

Sarah- a little off topic from where’s a good market, but when you analyze the deal, I like to make sure it would cash flow as a ltr.  If I ever had to pivot this gives me another way to make money.  And also, I would over estimate vacancy rate from a long term rental. My partner and I have two properties rented.  One has had 0% vacancy over the past year as the nurses have extended their contract multiple times.  Our second property is a duplex.  Between the two units we are running close to about a 20% annualized vacancy rate.  I love our medical professionals.  We have had an amazing experience with them as tenants.  I wonder for you since you are traveling, if you could look to your home base and find a duplex.  Rent one unit mid term. And live in the other and rent short term when traveling.  Just an idea.  

RentRedi customer support ftw 

1. From your RentRedi dashboard, click the "•••" next to "Rent"
2. Click "Payment Accounts"
3. Next to the payment account, click “•••”, then click "Open"
4. Click "Reports"
5. Click on "Transaction Reports", specify a date range, and then click search
6. Locate the transaction that you want to refund
7. Click the transaction number(should be a blue number link)
8. Scroll down and enter the refund amount in the box and then click Refund Transaction

Approaching the end of our first tenant’s lease.  We have been using RentRedi for tenant screening and rent collection.  Once we walk through and verify all is in good order, is there a way to return the tenant’s security deposit through RentRedi?

Thanks in advance.

*rate increase

Check show BP #448 with Dion McNeely https://www.biggerpockets.com/..

He uses a simple binder to educate the tenant as to what market rents are and help come to a mutually accepted aren’t increase.  I thought it was brilliant.  Haven’t had to use it yet for myself yet, but it’s a good tool to keep in the toolbox.

I’m looking at a 3/2 single family home that has an office in the basement.  Floor plan is as follows: Upstairs has 3 bedrooms and full bathroom.  Downstairs has office, full bathroom, and kitchenette.  Downstairs also has exterior windows and separate entrance.  

For rental purposes can this be rented as two units? What do I need to check to make sure it’s all above board. 

Thanks in advance. 

I am not currently house hacking but years ago we just called it having roommates. 

I think the idea would be you can buy owner occupied with very little down.   You have someone share the housing cost. You save up more money. A year later you qualify for another owner occupied low down payment loan. Get a tenant to replace you in the first house. And get a new roommate/tenant for the second home.  Rinse repeat

Having stayed in many STR units, most have not provided a welcome gift. And I would say it not expected. I appreciate good coffee being stocked in the kitchen as much as anything. If you arrive late and don't have time to go to the grocery store, it's nice to at least start your morning with a cup of joe.

But I will say we stayed at a STR in Missoula where the host left a handwritten note and a small box of cookies. I felt this was an amazing touch. Made me wish there was a 5++ rating. To me it wasn't the value of the gift but the personal touch.

Hello all.  I would like to attend.  See you there.