All Forum Posts by: Jake Kain

As John said, is your price competitive? What kind of prescreening do you have set in place prior to a showing? Are you having them fill out a questionnaire or possibly having them answer your prescreening questions over the phone?

On my first rental I had a ton of interest and was providing each person a written copy of the minimum standards to qualify along with a potential tenant questionnaire. However, it seemed as if this process was doing it's job and scaring off "bad" tenants or it was actually scaring everyone away thinking it was a scam to get information from them (even though it is basic questions, nothing super personal). Anyways, I finally switched up the process all together. I blocked out times I would be available to show the house and told every interested party the same block of time. Multiple people would show up and if they were interested, I had them fill out the questionnaire right then and there and told them I would be in contact with them over the next day or two. This worked out very well and I ended up having 3 applicants within a week of changing things up.

Good luck!

Hey BP! Hoping that I am posting in the correct forum.

My grandmother has moved into an assisted care facility, giving power of attorney/attorney in fact to my parents. Her house is completely paid off and my parents are wanting to rent it out to help cover the cost of her assisted living facility charges. My parents do not have experience with renting out property to tenants so I offered to help walk them through the process. They have been super busy and I have been doing most of the legwork thus far. Am I able to just step in as the property manager for them? It is my understanding, in Arizona you do not need to have a RE license if you are only managing one property and are not receiving compensation from managing that property. I am doing this completely for free, just to help them out and make sure they get a good tenant and everything works out smoothly and my grandmother's expenses are covered. 

I know that in order to run background checks on rentprep, you have to provide documentation for either owning the property, power of attorney or a property management agreement. I just want to make sure I am not doing anything illegal if we create a contract between us, stating that I am the property manager and we can even spell out that I will not be receiving compensation for management.

Any input would be appreciated and if someone has a property management agreement they would be willing to share with me would be awesome.

Thanks!!

@Daniel Leon Welcome to the site!

I think that is one of the biggest questions everyone has when they are ready to start their journey. I think they best thing for you is to continue your education to learn all the possible ways of getting started. The first step is figuring out what types of investing interest you. Then, stick to that, educate yourself and you will find the ways to get started. There really isn't a one size fits all, you have to figure out what strings you can pull that are in alignment with your situation. Example: Do you have any capital? any equity? any friends or family with capital that would look to partner? Can you house hack? etc.

Use the information from this site and you will learn everything you need to help you get started.

I recommend the book in the link.

http://get.biggerpockets.com/nomoneydown/ 

Good luck,

Jake

@Shiloh Lundahl Thanks for the invite! I won't be able to make it this Friday (headed out to California) but I will definitely keep a lookout for the next meetup!

@Derek Buescher Not sure if you saw this post from a couple weeks ago, but I figured I would share. 

https://www.biggerpockets.com/forums/517/topics/45...

Good luck in your endeavors!

@Carlos Gonzales thanks for the story! I've been seeing tons of these around as well and thought about calling just to see what the scam was but now I don't have to. Crazy that these actually hook people..

Good afternoon Ciro,

If you are still looking for an architect, PM me and I will send you some recommendations of architects we like to work with in the Phoenix area on multifam developments.

-Jake

Welcome to BP! This site will be of great value as you take on your RE journey.

I lived in Flagstaff for a couple of years and loved it up there. I am also into gaming and snowboarding! Let's connect, I will send you a PM. 

Welcome to BP! There is a AZREIA millennials subgroup meeting next Thursday. Let me know if you are interested in more detail.

Good morning-

I recently discovered some foundation/structural issues with my primary residence. My girlfriend and I were moving furniture in a room that we currently haven’t much use for. I noticed a pretty significant crack in the drywall, molding near the floor separating, cracks in the stucco and other obvious signs of separation on the exterior wall. I am pretty sure the issue is from poor drainage design caused by the previous owner’s that I should have caught prior to this. The area outside the wall allows water to pond next to the foundation and I believe softening the dirt and allowing that corner to “sink”.

I have some connections through my job with structural and geotechnical engineers and have a friend coming to look at it this week. I also called my insurance and started a claim and am now waiting for an adjuster to call me back to schedule the inspection.

I am very concerned with dealing with foundation issues, especially since as of right now I don’t even know if the insurance will cover it. Has anyone else had experience with this in Arizona? Any words of advice for me?

Thanks in advance,

Jake