All Forum Posts by: Joe H.

@Scott Weaner I second Rentec. It is solid and if setup correctly allows tenants to pay online and you to perform background checks from paper applications.

@Danielle McClelland I wanted to start earlier but I didn't have the cash or income. At 35 I bought 2 fourplexes.

@Dan Heuschele I use month to month as well but I have simply not renewed, with proper notice. Your method sounds interesting. Do you ever have undesirable tenants who pay your new above market rent?

@Sylvia B. I switched my 8 units to non locking lower handles and keyed outside deadbolts and it makes things much easier. The only lockout call I've gotten is from a tenant who lost his keys while away from home.

@Max T. For me the biggest benefit to landlord locks is the single master key that opens every unit.

@Gina Dobbs

I've got fourplexes in Albuquerque. Rents aren't keeping up with sale prices right now, so be careful what you buy. Both of the properties listed around $220k are overpriced in my opinion. I get $450-$500 for recently renovated, 1 bedroom units in the International District and those are only getting $537-$556 for 2 bedrooms. That style of building usually has separate gas/electric metering per apartment, so the landlord pays water/sewer/trash.

On the topic of your agent not wanting to make an offer, have you asked your agent to prepare an offer? Or did you ask her opinion of whether your offer would be accepted? If you want to send an offer at $200k, tell your agent that. If she wont prepare the offer, go to the listing agent and tell them you want to write an offer at $200k.

It sounds like you have a typical retail agent, who is never going to want to write an offer less than 97% of list price. You are unlikely to offend the real estate investor who currently owns the fourplex with a low ball offer. They might ignore you, or counter at full list.

@Daniel Dietz I don't do the depreciation in rentec. I do keep track of mortgage interest paid as well as all cash money expenses. My CPA had no complaints about the report from rentec although my mortgage interest was slightly off from the tax forms sent by my bank. Overall I like it. Tenants can enter their own work orders on the portal and we can respond to them and allocate costs easily.

@Bobby Stead I use rentec to do all the bookkeeping for my real estate. I give the reports from rentec to my CPA.

I've got 8 units and I use Rentec Direct. I have it setup where we can do background checks in the program as well as accept electronic payments. It was a little challenging getting those things working, but overall I like it.

I live in Albuquerque and 6565 Americas Parkway NE, Suite 200 is a Regus virtual office.

Also $10,000 to $30,000 is a significant chunk of money. I don't wholesale, but that would be enough for a downpayment on a property here.