All Forum Posts by: Jon Smith

Jon with Simple Property Management. Happy to have a conversation!  616-329-6318. 

Pretty simple when we have this happen.  We have to go off of what the background/credit check says.  So if our vendor for background and credit checks reaches out to us and confirms identity stolen, then we would keep going with the application.  Stay consistent for fair housing.

Hi Suzanne-

I would suggest checking out google, reading reviews, and looking at different websites to see the top few that you think will provide value.  Then give them a call or fill out information on their website to chat with them.  There are many different types of managers out there.  Some may be set up to handle a more "hands off" landlord and some are set up for a more hands on experience.

I agree- be patient.  Anything on the market, especially for single-family homes, you are in competition with other investors and owner-occupants.  Owner-occupants can pay more since they are not looking for a "return on investment" per say.  Run your numbers and stick to them- note that maintenance costs are still high, so pay careful attention to your numbers.  I think it also has to do with your goals.  Some investors don't care about cash flow; they want a nice asset that, for the most part, pays for itself over time- and some are looking for immediate cash flow.  Immediate cash flow is tough right now when buying on the open market.  Take the emotion out of it, know your numbers, and stick to them!

What is it priced at?  We average less than 30 days on the market, but some homes are more challenging to rent than others.  If you are not getting a ton of leads, it's overpriced, in my opinion.  We are also getting a ton of terrible applications.  Our minimum credit score is 600, and 75-80% don't pass that standard.  We are also 3X income compared to rent and of the 20-25% that pass our credit, very few are passing the income right now.  It is getting better, but I think this year will not be like the good 'ol days when everything was flying off the market within a week.

Take a look at what is on the market around you and be honest about what homes are better or worse than yours.  Looks like the average in the area is $1,700-$1,800.

Do not lower your standards.  Evicting residents is not easy and quick.  It's more important than ever to find residents that qualify.

Hey John- feel free to reach out to me with any questions.  We are in Grand Rapids, MI.  Thanks!

Hey @Andy Rousch - If you were to put the tenant's in charge of lawn care DO NOT supply the mower.  If the tenant cuts their fingers/toes off or they blow their back out pull starting the mower, you will get sued.  Reach out to me if you are looking for a manager, we work with a ton of great realtors that help you buy the investment property and then we manage it.  It's very seamless.

Hi Jorge

We specialize in single families and duplexes in Grand Rapids. Please reach out if you would like to chat!  Jon