All Forum Posts by: Jonah Hartsburg

I have not seen gutters increasing market value aside from potentially removing one item from an inspection report. But they certainly tend to help a property keep market value by preventing damage. There's a balance in everything, and I'm sure you're asking this, as you should in the decisions of your property, if the return justifies the investment. I'd recommend adding them when you can. At the basics of home preservation, water intrusion has to be mitigated. And in my situation further north, we have freeze-thaw cycles that compound these water erosion issues.

There are valuable resources both on this platform in older forums and online that outline the fundamental pros and cons of smart locks for rental properties.

I think the more important question before deciding which is best is to analyze how it would fit with the management strategy of the property. If you're self-managing, it should be simple to keep track of codes and make sure you have backup keys/batteries available if there is an issue. If the property will be managed by a PM, I'd decide with them according to what fits best in their processes. The last thing anyone wants is for the manager's handyman to drill out your $150+ smart lock simply because he didn't have the correct code when dealing with an urgent matter. 

@Kevin Sobilo nailed it. 

In terms of presenting a notice of non-renewal, I've found it effective to initiate a friendly yet direct conversation before formally delivering the document. Providing a notice exceeding 30 days can also be beneficial, allowing tenants more time for financial preparations and securing a new residence. It's not necessary to disclose personal reasons for the property's future use; instead, you can explain that new plans require it to be vacant. However, as Kevin mentioned, it's important to be prepared if the tenant decides to holdover the tenancy beyond the specified period.

If you're wholesaling the property, inquire with the seller about the property's acquisition history. This can provide insights into whether it was obtained through a tax deed. However, for confirmation of insurability for a warranty deed, rely on the expertise of the title company. They can provide the definitive information you need.

Thanks for easing my curiosity! I get it and am hoping someone with practical experience can share insights. My studies have been theoretical at best and mostly involved pre-sale developments in the Philippines. However, when I explored that avenue, the projected returns seemed more promising locally, where I also have a better understanding of the market.

Hi Vontarius - Sorry, even though I don't have actionable experience in pre-sale developments to help, could I ask why Dubai? I've read articles with lists of general highlights but would be intrigued to hear why you are personally looking at Dubai as a market of choice. 

I can see where it initially looks like that, but the fee is negotiated directly with the partnering leasing agent separate from Hemlane's fee. Hemlane's complete package includes the "connection" with the leasing agent. 

We have collaborated with Hemlane to do a lease-up for an OOS investor. Through that experience, we didn't get the full picture of their services outside of leasing, but we were able to get a general idea. I appreciated that their pricing packages were customizable to what you need as a combination of their PM software, maintenance coordination, leasing services, and/or delinquency assistance. For an OOS investor managing with just their services, I imagine you'd need their full package which didn't seem significantly cheaper than hiring a local PM. I thought the main advantage would be the ability to micro-manage your portfolio, customizing your vendor list according to each property and coordinating with a dedicated leasing agent.

I appreciate your insight. The entrepreneur additionally alters, invents, and projects ideas to create consumer demand. As an extreme example to prove a point, I'm guessing most people in the 1700s wouldn't have believed that our primary means of casual communication would be a small rectangle with a glass cover that travels in our pockets wherever we go. Now for the majority of us, it feels awkward when we don't have our phones nearby.

The direction of all economic affairs is in the market society a task of the entrepreneurs. Theirs is the control of production. They are at the helm and steer the ship. A superficial observer would believe that they are supreme. But they are not. They are bound to obey unconditionally the captain’s orders. The captain is the consumer. Neither the entrepreneurs nor the farmers nor the capitalists determine what has to be produced. The consumers do that. If a businessman does not strictly obey the orders of the public as they are conveyed to him by the structure of market prices, he suffers losses, he goes bankrupt, and is thus removed from his eminent position at the helm. Other men who did better in satisfying the demand of the consumers replace him. ("Human Action", Ludwig von Mises)

Do I offer what I enjoy or what the customer wants? 

Typically our business ideas begin out of a passion for what we do or an enjoyment of the product we offer, yet the key application here is that finding comfort in the nature of our services without adapting to consumer preference comes at the cost of lost potential profit. Yes, at a scale of financial success, a business owner can switch from 100% entrepreneur to part consumer and choose not to adapt to the market while still maintaining market viability. However, if we're searching for profitability as a primary means to achieve some personal goals, we have to focus on the unmet needs (perceived or actual) of the consumer.

Profitability isn't necessarily the result of degrees, titles, popularity, or passion. You must be an orchestrator of resources who solves needs in the market. 

Agree? What key elements are missing here?