All Forum Posts by: Janelle Carlson

Looking for additional advice on getting my vacant units rented out before the holidays. Here is a quick backstory: College town, not a super-fast moving rental market, but have had 4 units on the market since July with our property management company. Looking back our prices were too high for that type of unit and time of the year. We have dropped the prices and advertised them as 6 or 18-month leases to have them renew in the prime summer months. PM company has posted to all internet sites (Zillow, craigslist, facebook, etc.) and have offered ads in the paper for a fee of $85 per ad. 

Are there any other tips you would recommend for renting during the slow season, or should we just winterize the units and start strong after the first of the new year? Properties are in Indiana.

What has worked for you guys?

Thanks!!

Hi Kevin, 

I live in Ventura County and there are some areas around here where I have seen some investors succeed. My husband and I do not have enough capital to start out in Southern California so we decided to invest out of state as well. I highly recommend both of David Greene's books to get started and watch the webinars. They really help guide you towards what to look for and what to be careful of. 

So stoked for this. Bought the first day it was released. For sure investing in ourselves, excited for 2019-2020 growth!

Thanks for sharing Eugene! I'm running into similar problems with financing that I just wasn't aware of like the 6 month seasoning period for a refinance. I'm sorry you had to learn the hard way on this one, but I appreciate you sharing so the rest of us can learn from it! I didn't know you that if you pay off your HELOC it closes so thank you for sharing your experience! Good luck with opening a new one. Hopefully, it works out this time around.

Way to go David! MLS and wholesale deals are how I got started. Once that first one goes through get ready for the next as that one is just around the corner. Keep building that momentum!

Hi @Shani Levi! 

Welcome to BP!

My husband and I are first time investors in Simi Valley. We are in negotiations now with a property in Indiana. His family lives out there so that is how we decided on the state. I highly recommend David Green's Book "Long Distance Real Estate Investing". It helped us conquer our fear, give us confidence in investing out of state, and give us direction on where to start. 

We would love to connect with you and maybe grab some coffee or something to see how we can help each other out. The meetups around here are really good too so we could connect there if that works best. 

Good luck with everything! You are starting out in the right place!

Hi BiggerPockets!

I am qualifying a Tenant and I am in the final steps (This is my First time going through the process). I have weeded out a lot of other applicants, and they hit all the qualifications the owner was looking for, and what the Ultimate Tenant Screening Guide recommended. I received pay stubs from the applicant and want to just confirm with the employer. Do I use the 1005 V.O.E. form that is used for lenders (Fannie Mae) or do I use another type that is for property managers. I am a real estate agent and I don't know if I'm allowed to use it. Any guidance would be awesome! Thank you!

Fannie Mae VOE Form 1005 - This is the form I was thinking about using. But I don't know if its overkill.

Just saw this as well! My husband and I live in Simi Valley but are very familiar with the Valencia area. Love to attend the next event! @Richard Bull How do I make sure I can see the next event? We are a newer Pro Member. Thanks!