All Forum Posts by: Jennifer Rysdam

Would you necessarily need to consider the person a PM or could it just be a grounds keeper? The park that I'm looking at purchasing just has a tenant that mows, plows, and would let me know of any issues. I'll open a local bank account and have them all deposit their rent automatically or pay online. Maybe just have the grounds keeper and then hire a realtor as needed for bigger things?? Good luck! :)

@Skyler Walker SmartMove is through TransUnion. Once I review people's applications and feel like I want to continue with them, I'll go on the SmartMove website and send an invitation to the applicant's email address. Then they click, pay, answer some questions, and the credit and background check information is sent to me. It costs them $40. You can also do it through Cozy.co. They are also pretty popular.

@JD Martin Thanks so much for the info. I appreciate it. Who do you use for your electronic signing? Thanks!

@JD Martin When you do the 24 hour turn around, how do you get the lease to them and receive the money? Do you just email it and have them pay online? We are a tight market here and I've had people take my apartment and then back out 2-3 days later because they found something "closer to work". I tell them within 48 hours I need the retainer to hold it but they always take longer because they are out of town or whatever.

@Skyler Walker You have gotten a lot of great information here. I will add that I first review applications and then send them the email for SmartMove. I only have them pay then on the website for the credit/background check because I have approved them to move further in the process. People can get REALLY upset if they are paying you money and don't get the place just because someone better came around. If they don't make it through the application process I just let them know that I have chosen a more qualified applicant at this time and wish them the best in finding an apartment. 

I will also add that Facebook is a really good screening tool as well.

Put the pic on one of those paint apps that lets you try on colors. It's a great picture for using something like that. I think a nice tan or gray might be nice. 

I would ask her advice. Maybe give it a couple more weeks and an open house to see if it goes. Maybe drop the price $5000 for one last chance to get it sold. She'll understand. I used to be a real estate agent and there are some people you spend SO much time and energy on for nothing, but then there are others that are a slam dunk and you feel like you are robbing them. It all balances out. You are in Maine, winter will be here soon and your opportunities to get a buyer or renter are dwindling by the day. This is your business, and in the end you have to do what is best for your business. While your compassion for her hard work and effort will always be appreciated, do you want to heat this thing for the winter? I'm in MN. Getting flips moved is key. I just sold mine a couple of days ago and was already getting nervous about it. She knows that if she works hard for you that you will keep using her services. She'll earn plenty from you over time. My realtor has earned so much money from me it's crazy, but sometimes things don't work out and that's okay too :) Good luck!

Analyze a lot of deals and see what gives you the best cash flow in your area. I have an 8-plex right now and am looking into a mobile home park a few hours from me. The mobile home park will be less maintenance and higher cash flow. It will be a lot more out of pocket for me to purchase though. 
If you are new, talk to your bank and see what you qualify for and then buy whatever works the best for you. If you are single I'd suggest buying a tri or 4 plex and living in it. FHA low down payment and you get to live for free or almost free. Live there for a year and then buy another one and move into it while renting out the old one.
Read lots of books and listen to lots of podcasts. You'll learn a LOT. Good luck!

I have a similar situation to the previous poster. I gave the 30 day required notice and not only did he not pay the rent, he didn't move out either. I filed the 14 day pay or quit (per MN law) and he didn't care about that and said he had a new rental at the end of the month. Then I filed eviction at the end of the month when he hadn't moved out. Apparently he now had bought a house and would be closing then end of THIS month! We finally went to court 2 days ago and the judge gave him 5 MORE days to get out. So here I am with 2 months of no rent, plus I've been unable to re-rent it for next month because I have no idea when he will actually be out and what condition he'll leave it in. 
Just make your decision, per your local/state laws and lease, and stick to it. You'll get SO many sob stories and people will just take advantage of you. I had one a couple of years ago that begged for 2 more weeks and she'd leave it in perfect shape. They left it like a garbage house! No more. It's my business and I need to run it that way. Good luck! It will never go away, but it gets easier to deal with :)

I was just going to suggest the same things as John. Hire an attorney this time and then use the paperwork as a guide for future deals. It's a lot of money to screw it up. Better to be safe than sorry. Good luck!

I don't think you need it. We travel a lot with our camper and even when there is Wifi it's slow. We use our hotspot on our phone instead. Just be upfront about it so that people aren't calling and complaining or giving you bad reviews about it. I think you'll find a certain percentage of people that are HAPPY you don't have it. A good way to unplug and spend time with the family.