All Forum Posts by: James Barnhart

@Christopher Liffner

Remember that building, plumbing mech, and electric codes are there to protect people and property. The codes are the bare minimum standards. Since this is

not your residence, but an investment property, you probably are required to use licensed contractors. Most inspectors I met, have worked in the fields, and now are licensed inspectors.

They are protecting their license when they enforce the codes, and will work with you, if you work with them. It's not a bad thing.

@Erin Auman

I used to be a lot more shy than I am now. But, then I learned to be more concerned about others than about myself. And, I always remember Zig Ziglar sayin.g that you can get anything in life, if you just help enough other people get what they want.

So, if you offer to help others, and get to know them, you will probably be pleasantly surprised at the results.

I have a half acre property with a SFR that I have rented for years. That property has a detached garage in the rear, that is about 1230 sq. ft. I never rent the detached garage and I use it for my old cars. The house has it's own garage for the tenants. I always have great tenants and it is never a problem, ever. Respect and communication is key. I always treat all tenants well.

@Max T.

Do you have to give Stessa your bank info? Can you just input the figures yourself, from your bank statements? I would think so.

I am going to try Stessa myself and see how well it works for us.

If you list it on Zillow also, they will automatically add it to a couple of other sites, like Trulia and Hotpads.

You will get MUCH MORE exposure and the phone will ring.   

And, you need to learn why your unit is not as desirable, such as price, location, condition, etc.  Are rentals in short supply there or are there plenty of units available?

Thanks for your ideas.   I appreciate that.

It is a hard thing to decide. We have never had this happen before.  The tenant that made the chip, just moved in a month ago.  Two weeks ago, she told me that she got a nice job offer in another city and was leaving at the end of the month. 

 I have MANY rent applicants, so I chose and screened a great new one. that is moving in tomorrow.   I increased the rent a little, so that worked out fine.  

My wife and I both know that accidents happen, but also, that we all need to be responsible for our actions.  We keep our rentals in the best condition possible.  So, we will deduct $25 and wish her well.  I will touch it up.  

A tenant is moving out tomorrow.  I just noticed that she chipped a big piece from the top front of the porcelain gas range, apparently with her large cast iron skillet.  

We bought that like new range recently from a used appliance center for $250.  What do you think would be the appropiate deduction from her security deposit?  

I can touch it up, but it will still look touched up.  

What do you suggest?

@Joe Splitrock

I Always get a credit and criminal report. The tenants pay for it when they get screened ,by mysmartmove.com. People with

bad credit or criminal reports don't even apply. Some people don't know that they don't have the income needed, but the report shows them and me.

@Zachary Zinn

I would definitely get rid of the credit card debt. You will then be able to save much faster when that debt is gone. And, you will feel better about yourself.

This is a no brainer.

I have found Craigslist to be great.  I found a 20 year old house that was listed there by a flipper/wholesaler  that decided that it was too far away for him to flip himself.    I met him there and he sold it at a good price and It was an easy flip for us, and easy to sell too.  

I also put ads on there under 2 different accounts looking to buy houses.  And, I ask landlords if they want to sell their properties.  I also click on the main "for sale" box.  I ask sellers of many other things such as jewelry, yard sales, or estate sales, if they know of any properties for sale.  Sometimes they do.  I offer to tell them if I run across jewelry, etc. for sale.  

I list my rentals on Craigslist too.  That works very well.

You could do a LOT of things on Craigslist.  This just scratched the surface.  Yes, you know there are some BS'ers out there, but just ignore that stuff.