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All Forum Posts by: JD Martin

JD Martin has started 61 posts and replied 9110 times.

Post: Remote property access and cameras for self-guided tours?

JD Martin
Property Manager
Pro Member
ModeratorPosted
  • Rock Star Extraordinaire
  • Northeast, TN
  • Posts 9,596
  • Votes 15,405
Quote from @Madelyn Felix:

Thank you, JD. 

In-person showings just aren't efficient. And you can't accommodate everyone's schedule.  It takes longer to lease in-person-and it's expensive.  

I think the evictions are a tenant screening issue more than an issue with self-guided tours vs in-person.  

The way we screen tenants tells us all we need to know 99% of the time.  Our default rate is very low-even with self-guided tours.  


 In that case, I guess I don't understand why you would even want to spend money on any such system. If you've already got 99% of what you need to know under current conditions, what good could some cameras add to that equation? 

Respectfully, I disagree about the screening process. For us, screening takes place from the time we (someone from the office) speaks to the potential tenant, through the showing, and the application process. We don't really incur any significant extra costs by having someone physically show the property because someone's already working, and we batch showings. I would never want to just screen someone on paper. 

Maybe the difference is in turnovers. We only do single family homes, so it's not an apples to apples comparison, but the average national turnover rate is about 40%. 4 of the last 5 years our turnover rate was under 6%, and in the last 10 years we've never had an eviction. If you have a significant turnover rate, then I guess I could see the appeal of remote showings, but I also suspect the lack of personal touch contributes to turnover. 

Anyway, as far as camera systems, I would think a simple Blink system and wifi would work for what you want to do, with something like the Schlage encode for a locking system. I'm not aware of any systems that work without wifi as you'd have to have some kind of cellular reporting system like a SimpliSafe or similar. 

Post: Eviction from rental property

JD Martin
Property Manager
Pro Member
ModeratorPosted
  • Rock Star Extraordinaire
  • Northeast, TN
  • Posts 9,596
  • Votes 15,405
Quote from @Padam Neopane:

Hello Folks,

I need to evict a tenant for not paying rent for 4 months. I am looking for advice from someone who have gone though eviction.  I have been managing property myself. 

Should I hire a lawyer or find a property management company to handle eviction. 

Any suggestion is much appreciated. 


Thanks.


 Depends on where you live and how comfortable you are with DIY evictions. Judging from the fact you have someone there 4 months and still haven't filed for eviction you should probably hire an eviction attorney and a property manager. You're not going to hire a PM to handle the eviction, most likely - no one wants to go through that trouble on the front end. PMs handle evictions as part of their business but I don't know any that sign up just to do an eviction. 

Post: how do i find underground markets to buy real estate

JD Martin
Property Manager
Pro Member
ModeratorPosted
  • Rock Star Extraordinaire
  • Northeast, TN
  • Posts 9,596
  • Votes 15,405
Quote from @Kyle Deboer:

Being a beginner, the only markets that I am really tapped into at the moment are all extremely mainstream (zillow, realtor, etc.) and I see everyone saying I should learn to tap into underground markets but I can't seem to find anyone explaining how... Can anyone help with this?


By "underground" I assume you mean off-market deals. Well, this is harder than it sounds especially when you're a beginner because you know no one and have no track record. So why get so bent on finding diamonds that other, more experienced people with contacts are also looking for? There's almost always something worth buying on the MLS. I've bought a bunch of houses right off the MLS and they've all made me a good deal of money. You don't need to find secret houses; you need to find houses that can be profitable.

Example: about 9 years ago there was a house sitting on the market near me for $100k. It was a 2br 1 1/2 bath and it was sitting on the market forever. I got curious enough and had my agent show it to me. Turned out that the house had been owned by a family who lived there forever and ran a small beauty salon out of the house, so one of the bedrooms had been turned into the hair salon and the dining area turned into a foyer. There were exposed water lines and pipes in the rooms and missing doors. I offered the owners $50k cash and they took it. I spent about 8 hours capping and removing water and sewer lines and putting a couple of doors back in and some plugs in the wood floor and suddenly I had a 3br house. My cost for that work was about $250 and a day of my time. That house recently appraised for almost $300k. Anyone could have bought that house and did what I did; I didn't find an underground house, I just found something that wasn't being used to its best potential. 

Post: How do I budget time

JD Martin
Property Manager
Pro Member
ModeratorPosted
  • Rock Star Extraordinaire
  • Northeast, TN
  • Posts 9,596
  • Votes 15,405
Quote from @Mitchell Gunlock:

Investing feels overwhelming, and I get stuck in analysis paralysis. How much of your free-time goes into research versus actual hands-on work on-site? I’d much rather be working with my hands than sitting in front of a PC


 Honestly, it shouldn't take you a whole ton of time to do research once you know what you want to do. Pick a focus and run with it. If you'd rather be working with your hands, then you sound like someone who is a prime candidate for a DIY rental rehab, for example. So let's say you like the idea of owning a single family rental house. Focus on an area (best ones are usually the ones you know). Now you have your area. How much do houses rent for in your area? How much do they sell for? Is there enough profit there to make it make sense? ETC.

Most people who get stuck in analysis paralysis either don't really want to be investors or are so terrified of making a mistake that they'd rather do nothing. At some point you have to accept that your first attempt may not be perfect, but if you set some guidelines and narrow your focus down to something that's achievable you should be on your way pretty quickly. And remember that time has a good way of healing most RE sins. If you hold long enough you virtually always make money. 

Post: Remote property access and cameras for self-guided tours?

JD Martin
Property Manager
Pro Member
ModeratorPosted
  • Rock Star Extraordinaire
  • Northeast, TN
  • Posts 9,596
  • Votes 15,405

Just curious - why do you want to do this? Do you have so many properties it's impossible to physically show them all?

I know there are PMs that do only self-showings, but personally I think it is a lost opportunity to actually see who is (potentially) renting your property by speaking with them, and also a lost opportunity to sell the property. Real estate is still a people business, and if you don't like dealing with people it's a very hard investment field. The PMs in my town that do remote showings have more evictions and bad tenants than we do, and self-showings is one of their problems IMO. 

Post: Re-subdividing land divsion

JD Martin
Property Manager
Pro Member
ModeratorPosted
  • Rock Star Extraordinaire
  • Northeast, TN
  • Posts 9,596
  • Votes 15,405
Quote from @David Contreras:

How difficult is dividing land that used to be separate, but is now a large lot as a result of a voluntary merger by the previous owner ? 

tldr : A 3 acre lot used to be 6 ~ 0.48acre lots but we're merged together to make 1 big one. 

I've already messaged the county planning division, but wanted to get an idea of what I'm getting into. What is the process like/what's needed ? 

Appreciate any insight 


 Depends on where you are because every state and locality is different. In general, if there's nothing in zoning or the deed restrictions prohibiting the division of the property, it's mostly just getting it resurveyed and presenting the new subdivisions to the local government (county usually) to have each lot recorded as separate parcels. I don't think it will be as simple as trying to just undo what the last owner did; you're going to need legal descriptions of each lot and that generally requires a survey. 

Post: How To Know Who To Take Advice From When You Are Just Starting Out

JD Martin
Property Manager
Pro Member
ModeratorPosted
  • Rock Star Extraordinaire
  • Northeast, TN
  • Posts 9,596
  • Votes 15,405
Quote from @Michael S.:

@Jonathan Greene- good topic.  To add to the above posts, one thing that amazes me on this forum is the number of people who feel the need to give advice on markets that they have no idea on or no experience in.

For example, the number of people who feel the need to chime in about the Huntsville/Madison/North Alabama market who have absolutely no clue about it.  

"Huntsville is great for cash flow" posted by some dude in Alaska for example - I mean, seriously?  First of all, that is absolutely incorrect right now.  Second, why does someone in Alaska feel the need to comment on a city in North Alabama they have no clue about?   

Here's some real examples (with changed names / locations of the posters) to illustrate my point:

"Oh, I lived there 10 years ago" - Fred in Topeka;   yup, irrelevant to the current real estate market.

"I don't own any properties, but Huntsville is a great place to invest in" - Bob in Fresno;  how in the world would you know this?

"You should focus on duplexes in Huntsville for a house hack" - Jane in Montana;  great, except there are an incredibly few duplexes in Huntsville

"Hazel Green is an easy commute from Huntsville and shouldn't affect your rental prospects" - Joe in Chicago.  The commute may be small for a big city, but it's forever for the locals here.  Again, wrong advice.

Don't know the city, don't live there, don't have any properties there?  Then don't comment on the post with misinformation!


 Great addition to the list. It is really, really hard to be an "expert" in anything more than just a couple of cities or areas because there's just not enough hours in a day to really - I mean really - learn your market. I consider myself an expert in one specific market - the one I invest in - reasonably knowledgeable in a few others, mostly ones that neighbor my market and/or I lived there and have some pertinent information to share that's generally right - and beyond that it's just applying general platitudes to every other market which may or may not be relevant. Like you said, advice to invest in duplexes might be great but if duplexes are rare it may not make any sense at all. 

Post: How To Know Who To Take Advice From When You Are Just Starting Out

JD Martin
Property Manager
Pro Member
ModeratorPosted
  • Rock Star Extraordinaire
  • Northeast, TN
  • Posts 9,596
  • Votes 15,405

Great list!

I would add - if you're new, don't get blinded by advice, pitches or anything else because you're starstruck. I don't care if the person giving you advice or pitching you has been on 100 podcasts and has their name on the side of an airplane. Always verify and seek independent confirmation of anything you're being sold or told. There are a lot of people out there that their whole purpose of becoming "famous" is to create a sense of infallibility or trust in the person(s) that are going to be buying whatever from them. There's a bunch of suffering people right now in syndications that to some extent followed this line of thinking - XXX is famous so S/he must know how to run a syndication.

Post: 4.99 Rating for 1K+ Reviews: Guest Experience Tips You Can Use At Your STR!

JD Martin
Property Manager
Pro Member
ModeratorPosted
  • Rock Star Extraordinaire
  • Northeast, TN
  • Posts 9,596
  • Votes 15,405
Quote from @Mark F.:

#2 #2 #2!!! I don't own any STR but been to plenty of them since 2015. I'm so over paying $200 in cleaning fees in suburbia America to have a list of check out instructions. It's not the middle of the woods in upstate Wyoming, chill the f*ck out. We are starting to pick hotels over Airbnbs because they're becoming ticky tacky for our taste and theres no $$$. I can see why your ratings are so high.


 I'd agree with this. The only thing we suggest to our guests is if they are able to start the dishwashwer before they leave it is helpful to our cleaners, but otherwise just lock the door when you leave and have a safe trip home. I've got a long enough history with LTRs to know that generally you don't want tenants doing more or less anything because it's amazing how little common sense a lot of people have, and this translates into not asking guests to do chores because 1) they've paid a cleaning fee, 2) it's a vacation even if it's a home, and 3) guests that do chores might just put dirty towels back on shelves and dirty dishes back in cabinets. 

Post: 4.99 Rating for 1K+ Reviews: Guest Experience Tips You Can Use At Your STR!

JD Martin
Property Manager
Pro Member
ModeratorPosted
  • Rock Star Extraordinaire
  • Northeast, TN
  • Posts 9,596
  • Votes 15,405
Quote from @Garrett Kroll:

Our property management business recently reached 1,000 total reviews across our 18-property portfolio, and we’ve been fortunate enough to maintain a 4.99 average rating across all OTAs.

I wanted to share some strategies we focused on that helped us reach this milestone. These apply to investors, co-hosts, or property managers who aim to create an exceptional guest experience in this competitive industry. All of these required trade-offs though. Our hypothesis was that by having the highest-reviewed properties, everything in the business would become easier.

  1. Paid Cleaners Well: Cleanliness was the biggest factor impacting reviews, so we decided not to take any chances. We invested time in finding the best team and paid them better than anyone else in our market. High pay enabled us to hold our team to higher standards, while also giving us the flexibility to make quick changes if needed (we have several cleaners eager to work with us). While it was tempting to make a margin on cleaning fees, we believed it was shortsighted; it was far easier to charge more per night with great reviews than to pocket that money and deal with cleaner turnover and unhappy guests.
  2. No Checkout Instructions: We believed people were on vacation, and since we already paid our cleaning team well (see point 1), we didn’t feel it was necessary to ask guests to do anything. We highlighted this on all our listings with something like, “No checkout chores! You’re on vacation :)” This change was made about six months ago, and it became one of the most frequently mentioned positives in our reviews.
  3. Well-Stocked Kitchens: In my opinion, this is hands-down the most underrated amenity in our industry. After analyzing our reviews with Chat GPT (something we should all be doing), we found this was the most commonly mentioned item in our 5-star reviews. We ensured every home had a wide collection of quality cookware, spices, coffee, etc. This was so important to our business that we covered the cost of these consumable kitchen supplies for all our owners. In our listings, we often say something like, “A well-stocked kitchen with everything you’d expect to find at home, and perhaps a little more.”
  4. Check-in Follow-Up Message: We found that one specific message set us up best for a 5-star review: the follow-up message. Within an hour of check-in, we send a message like, “Hey Jane, I just wanted to make sure you arrived ok and everything is perfect! Please let me know if you need anything during your stay, or if a detail has been missed.” This showed that we cared about their experience and maintained high standards. This approach requires more messaging though—and the impact of this at a larger scale could be a lot of extra work—but in our view, it was absolutely worth it. This is hospitality, after all.
  5. Personal OTA Profiles: We recognized that guests often wanted to know exactly who they were communicating with, both before and after booking. I believe a host profile with a face and a name also helped us avoid negative reviews, as guests are less likely to criticize an individual than a company. As our portfolio grew, we were intentional about keeping our profile personal rather than corporate. We hypothesized that more people booked from a host with a face and name rather than a company logo, which likely helped with revenue too.
  6. Well-Timed Refunds: When mistakes inevitably happened, we limited exposure to bad reviews by issuing generous refunds right before guests checked out. We chose this timing because 1) there was less chance of additional issues making the refund seem inadequate, and 2) it created a positive impression right before guests were likely to leave a review. In most cases, these guests either didn’t leave a review —which was a lot better than risking a 4-star review or worse.
  7. Updated Digital Guidebooks: Every time a guest shared private feedback, we looked for ways to improve the information in our guidebook. This could involve adding new information (e.g., embedding a link to a ski shuttle schedule) or setting expectations (e.g., noting that there’s no A/C, which is an rare amenity in our climate anyway). Our guidebook is a page embedded within our website, and having the flexibility to make updates quickly has been clutch.

Lastly, and most importantly, these tips won’t make a lot of impact if you don’t have a good product to offer. Loud neighbors, a poor location, and poor floor plan could mean a constant uphill battle to keep guests happy, and likely a lower ceiling for guest review scores.


 What kind of mistakes warranted refunds, and what do you consider "generous"? 5%? 50%? A full refund?