All Forum Posts by: Jake Knight

Hi Connor, welcome back!  There is no such thing as a perfect deal.  We work with a lot of investor and sometimes we see to much focus on the spreadsheets and it creates a paralysis effect and they never land deals.  For whatever market you find yourself, just make sure you build a team out that you trust so you can make the most informed decision as possible. Good luck to you!

Welcome Cameron!  You'll find this to be a very supportive place.  Although we don't specialize in buy/flip/sell, we do manage over 1K rentals here in the Central Indy market.  Feel free to use me as a resource. 

Congratulations and well done!  We have also had great success in Madison county, great potential!

We also use tenant turner and formerly used Rently. We plan to stay with tenant turner.  No service we use is perfect and each company uses slightly different models.

We've seen a lot of fraudulant materials come through over the past several years.  It's relatively easy to doctor paycheck stubs and W2s and make it look legit.  Whatever you use to screen your applicants, I would make sure they have these counter measures in place to weed that stuff out.

We charge $25 for one pet and $10 for each additional pet.  This is mostly based on having a dog or a cat.  Charging for a rabbit is really up to your discretion.  We don't charge an additional deposit unless there are 3 or more pets in the home. 

Proceed with eviction, even though they intend to vacate they may not.  You can't go on their word so best to follow legal processes. 

Typically, any lease violation can be grounds for eviction so long as your willing to go through the legal cost and process to follow through with it.  Most small violations are met with notices so they can correct behavior so it doesn't lead to that.  

We typically average all the scores together to get one number.  I also agree that credit score is just one metric to consider.  We've had plenty of really good renters with lower credit scores.  Typically, if an applicant barely meets are criteria, we will charge a higher deposit.  Keep in mind in my market that they are eligible to get the full deposit back - which should incentivize them to take better care of the property.

 Agreed but this can be expensive.  If you can't do this, you can inflate the rent to include utility charges or just do flat-rate billing.  You may just take an average and come up with a fair number.  You'll want to be careful to not price your way out of the area.