All Forum Posts by: Jessica G.

@Derrick E. THIS all day! I think newer investors (myself included) get hung up on seeing how high you can rent out your brand new rental property for. I started too high on my first one and after a week of no applications did the math on vacancy and had to put the ego aside, aggressively lowered the rent to just under market, and had it leased a few days later. It's the LONG game people. 

@Pedro Padierna Dude lower the rent by $50 today and get it rented already. Every single week that goes by, you are losing way more than that. Even if someone signs a lease with you today, they probably can't actually move in for a few weeks after that. I think you are wasting too much time on the wrong things.

You want the worst one in the best neighborhood! Not the opposite. You did the right thing! I struggle with not getting "married" to properties I like too!

@Account Closed I am new to this and not looking forward to the day that we will be in your position. I have two rental properties now, and try to be friendly to my tenants because they are both great. I also believe that being kind and business savvy are not mutually exclusive.

However. My family comes before any tenant. *When* I'm in your position, my goal will be to try to remember who I am doing this for. And remembering the future we are building for our baby boys will make it a lot easier to swiftly do what's necessary to maintain a successful business! Just wanted to suggest reminding yourself of why you're doing this (whatever that why is). Best wishes for however this plays out!

@Nik Moushon Yeah, not trying to argue with you just providing another perspective because I thought that was the point of posting, but either way happy investing! 

I agree with @Emily Simonds, I'm not cleaning out a sprinkler filter on a house I'm renting... especially if that expectation wasn't made clear before I signed the lease. From the landlord perspective I think you picked a property with too much hassle. For what it's worth, we have a property that has really large trees, so no sunlight, which means a terrible lawn, mostly dirt. We have no trouble renting it, and no one has ever even commented on it. 

@Jay Hinrichs I actually agree that it wasn't necessarily unsuccessful and thought about that after I posted.. however I do wish more people would post about mistakes or unexpected negative things that happen. 

@Angelique F. I for one am appreciative of you sharing your UN-success story. We need more of those, and personally think we even need a place dedicated to the deals gone wrong! You learn so much more from mistakes than successes in my opinion. We all know how a successful deal should look, but there are so many things you don't even know to consider when just starting out.

Thanks for sharing!

@Andre Williams To make a different suggestion, what about partnering? There are tons of people that have the time and not the money (the opposite of your situation). 

You should prepare for expenses to be higher than you think and the ARV to be lower than you think. You would have to get this property for a lot less for it to make sense. Especially at that price point, that's too much risk for not enough return in my opinion.