All Forum Posts by: Jared Baker

Hi Paul, I believe it was an update from the system.  Would there be any extra steps needed to be done or just message her back that new info was just received?  I do my applications through apartments.com so less of a chance of me missing something if in researching everyone myself

Hi BP,
I had an possible tenant send me an application last week on Apartments.com.  We discussed the unit and talked a bit and everything looked great.  This morning however, I jumped on Apartments.com to do some stuff and I see that her application was "updated".  It went from no criminal or eviction history to several records on the criminal report and 1 eviction record, and the credit score dropped.  I have already extended her the offer of the unit (prior to seeing this update of course).  Am I now stuck in this situation or can I revoke the offer?  The most recent offense was in 2020, OWI and the eviction was back in 2017.

Thanks for the input.

Hi Sarah,

I think the short answer here is yes, it needs to be fixed.  To what extent is hard to say from here.  If there is a small portion of the roof over the bathroom where the leak is occurring you may be able to replace just that portion, however it might come down to replacing the whole thing.

One thing that I have learned is when getting quotes for work to ask the contractor what will the process be for the repair.  Although you may not know if is the correct process, it will let you compare quickly between contractors and pricing and be able to go back and ask why one contractor is going to do "x" and they are not.  

Nice Eva!!  Do you have any pictures?  That would be great to see!

Hi Cody,

Why do you need to kick them out?  I can understand as a seller you want to make sure you have the most people interested in your property when you sell to get maximum value.  When I bought my triplex tenants were in place and MTM and they stayed there until they wanted to leave.  As the seller you can put look for a buyer that wants to keep them there.  I can image a new investor or even an experienced one would be okay with cashflow on day one, assuming the numbers work out, with a tenant already in place.

Like you mention, I would offer it to the tenants first.  If they are not interested in purchasing then list, but perhaps put in a note with your agent (if that's how you sell it) that you are looking for someone that wants to keep the tenants.  If you are part of any investing groups, perhaps someone would be quick to pick it up.

Looking to start investing out of state (based in Wisconsin here).  Came across a property in Ottawa neighborhood and wanted to know if that is a good area or someplace to avoid?

Thanks for the comments all.  Firstly I do want to say that it is actually a "her", not him, credit where credit is due afterall.
  @Nathan Gesneryou make a good point, however I must say I see many posts about finding a mentor or people recommending finding one, but I would say I see next to none on what is the next thing to do.  It is always said that there is both a give and take in these relationships, so the last thing that I want to do is make it all about me per-say, where I am just going to them with my questions and looking for answers on those.  Or perhaps that is how a mentorship is supposed to work?  Again, since this is new to me I don't want to go setup lunch where I start asking all these questions for getting me started only for it to end there because that is not how it should have been approached.  I would assume there is something that they get out of the deal as well.  Perhaps it is the reward of helping us young folk get started or maybe its something more tangible.  Whatever the case I do want to make sure that I'm not making an assumption about how it should be approached as I have little knowledge when it comes to the mentorship thing.

On a recent podcast they talked about building up rapport with sellers of properties.  Slightly different, but is that where I would need to start here as well?  Not focusing on actually getting my business setup/started, but just getting to know them more over the next few months before I start to dive into getting things going for my business?

I'll put this here as it somewhat applies.

I was recently at a wedding and in the usual mingle started discussing things with various people.  One individual and I started talking and as the conversation wrapped up they said they would love to help guide me along the path of becoming a contractor.

I'm not sure what my next step is from here.  I don't know this person at all, literally just met them at the wedding.  I would love for them to help me along my journey but not sure what is the best approach as I do not want to do something that would derail what could be a great relationship.

Do I set up a lunch to start talking about what are the first things I need to start doing?  Something else?

Hi All,
I'm looking to connect with current owners/investors of small to mid size apartments (12-64 units). My goal for June 2023 is to acquire a small apartment building. Who's in that space that can share some advice on how they got there? Shoot me a DM, would love to connect.

I would also love to talk with anyone in the process of acquiring small/mid size apartment buildings to understand the process and even help out if possible.  

Hi All,

I hear it commonly said that if you are able to make a personal connection with sellers instead of purely being a transaction you can have more success with closing a deal.  

My question is how do you get to network with sellers when there is a broker in the middle.  For example, I have been looking at a few apartment complexes for sale that with an initial run of the numbers look promising.  I believe my next step is to reach out and get some more accurate data on expense and income, but also try to figure out what the seller actually wants and what problem I can solve for them is, but unsure how to do this with a broker in the middle.  I've had several experiences on the residential side where it seems like the sellers agent didn't like the idea of figuring this info out and so I wasn't able to do any negotiations because they were unwilling to have that type of conversation.

All recommendations welcome!