All Forum Posts by: Jenni Utz

The first step would be to look at your state and local tenant/landlord laws. Another resource would be talk to your local HUD department. The next option would be take a real estate attorney who specializes in tenant/landlord law to lunch and pick their brain. I would also suggest aligning yourself with a property manager who knows these laws inside and out.

I am a very firm believer in the hvac maintenance aspect of the rental. This has the ability to be a large ticket item if not maintained properly. We even take it one step further and add in our lease an hvac maintenance fee. Included with this fee we ship out the exact filters needed for the property, through a company called Second Nature, to all of our tenants. Nationwide, it has been proven that just changing the filters regularly can save a tenant 15-30% per month on their energy bills. More importantly, regular replacement of air filters has been proven to reduce HVAC maintenance costs by 30% or more for landlords nationwide. If you add that with regular maintenance on the unit, you can extend the life of the unit drastically.  Another thing to keep in mind, is if you aren't properly maintaining the units, and you own/manage a large portfolio, you will be dealing with a lot of unexpected service requests for repairs or replacement at the same time, each year. 

Thanks Jorge, looks great!

If you can't get the cash out, I would hold off on refinancing. However, if your interest rate is higher on your current loan, and you could potentially drop the interest rate to give you a favorable payment, I may talk to the lender about proceeding with a refi. 

I completely agree. That was only one of my points, but I definitely will continue to buy now and even during the potential downturn. That is the prime opportunity to pick up great deals.

If there is water access or a bathroom already in that space, I would make an in-law quarter or small apartment. If you are looking to keep it with the property, I would turn it into a multi-use room- an office, hang out/game room. 

My suggestion would be to hire a virtual assistant first to help with all of the administrative tasks. From there I would hire a Assistant property manager. You can fully automate the showing process, and rent collection. If done right, one full time manager should be able to handle 150-200 doors. 

My suggestion would be to buy two properties. Instead of paying cash for one property, use that money for a down payment on two properties. More bang for your buck!

Being self employed has its pros and cons. In this case, not having a proven track record is one of them. Most banks will want to see at least two years of financial returns from your e-commerce company before they consider that as your income. If you don't want to wait for the full two years, you could bring someone in on the deal with you as your financing solution. 

If you purchase a property in an LLC, you will still need to show financials and that you have a proven track record. In most cases, that is showing your personal financials.

I would definitely invest that money in real estate. If you are able to get a great investment property, chances are the money you make on that deal, could pay your student loans for you. I am a firm believer of leveraging other peoples money!