All Forum Posts by: James Wilcox

@Ron Tafoya It is common and pretty much the standard (in most markets) in SFR to have the tenant put the utilities in their name and pay all of the utilities. IMO you should always strive to have your tenants pay utilities. Who is using the utilities for electric, water, sewer, ect... during the lease? The tenant or the landlord? Tenants are pretty used to this concept in SFR but you just need to go by what your market commands.

However, in some multi family units it is harder to get all the utilities in the tenants. Particularly water. This can sometimes be solved by getting each unit sub-metered or some sort of RUBS system.

@Tyler Oatts welcome to BP and the REI community. I have heard several good things about your company and you all even manage the house next to mine! Lol small world. We are glad to have you here. Good luck in all your REI future ventures.

IMO no and maybe yes depending on your market. If you have the property in a neighborhood that supports urban farming, sustainable living, ect... having an organized garden could make your rental more appealing to tenants. 

However, from an appraisers standpoint it would likely not raise the value of the property. At least not enough to make much of a difference. It would have to be a rather extensive garden to have any real effect on the value.

I think you would really have to give more details on the condition of the property to even get a guess on how much someone would even consider bidding on a place. It could be in rough shape on the inside but still look wonderful from the street.

@Sasha Litvinov welcome to BP and the REI community! Good luck in all your REI ventures!

@Sujith Kakulamarri congrats on your purchase. Luckly for you the property is in Frankfort, KY. Very landlord friendly when it comes to evictions. Surprisingly (assuming rent is due on the first) these tenants should have already left the property. Sounds like the landlord is letting it slide due to the sale. 

I have a good, quality potential renter that is looking for a place in Richmond, Kentucky or somewhere between Richmond and Lexington. They work in Lexington so access to the interstate is a plus.

Prefers

• No carpet
• Pet friendly (3 small well behaved dogs)
• 1-2 beds and 1-2 baths
• Safe neighborhood
• Clean
• Nicer appliances a plus
• Away from students

This renter has a good consistent job but is looking for $550-600 month including pets. If you have a place that fits this description let me know in a message or in the comments below. Fill your vacancy with a good tenant today!

@Scott Peace welcome to BP and the REI community! You have come to the right place to network and learn everyone you need to know about REI. Good to see you have already jumped into with buying a multifamily. I personally love small multi-familes and it seems we are of the same mindset. Good luck in all your REI ventures!

based on the information doesn't seem bad to me. There are a lot of issues though I would have your attorney and title company be very through with these properties. Also 65k on Reno seems low. 

@Brock Halstead welcome and good luck!