All Forum Posts by: Jerome Morelos

Here is the working Furnished Finder link

https://www.furnishedfinder.com/property/589202_1

@Joey Banasihan I really appreciate your tips and insights! I did take action on your advice and lowered my pricing a bit, as well as the cleaning fees, and making the pet deposit refundable. I work in a hospital as my full-time job and I have to say we’re still in the slow season. It usually starts getting busy around October/November. You are definitely right on having the ability to “adapt” your price.

I am also considering listing it on Zillow Rental Manager. What are your thoughts on that platform for MTRs?

@Mason Weiss That is a great idea! Thank you for the feedback!

Hello, I recently posted my first MTR Property. Any feedback on how I could make my listing better? Thank you!

https://www.furnishedfinder.com/property/

589202_

https://www.airbnb.com/h/travelersretreat23

@Allan Tualla

Hey man, I was in your exact situation a little over a year ago. Acquired my first deal and I have to say, it’s not as bad as you think. We get too caught up in the “What ifs”. The truth is, the more we focus on the things that worry us, the more it magnifies. So, take a leap of faith. Like others have said, you learn the most by doing.

As Michal Jordan said: There are 3 types of people. “Some people who want it to happen. Some wish it would happen. And others that make it happen.”

So take a look at the person in the mirror and ask yourself, “Who do I want to be?”

-Jerome

@Allan C. That’s a good idea. I am not so much concerned about trouble renting the rooms because it’s in a very desirable location!

@David M. I plan on using a 3-5% down owner occupied loan in the future. I guess I just need to show 1-2 years on consistent income.

@Adah N. Great points! I’m going with the MTM lease since it provides both the landlord and tenant flexibility! Thank you.

Hello BP, I have a property that I'm getting ready to rent out. The main house will be a room-by-room rental and the ADU will be a MTR. My question is: Should I use a MTM lease or a 12 month lease? If I do a monthly lease, will that affect my future financing in terms of using the rental income to qualify for future properties?

Thank you for your time!

@Nathan Gesner @Nicole Masters Thanks for the advice! I like the idea of calling the utility company to ask for the average use. I was thinking of doing that, adding 20% on top and include it in the rent. To avoid utility abuse, I could include a "utility cap". Anything over $xxx amount (water +electricity) will be billed back to the tenants. What are your thoughts on that?