All Forum Posts by: Jonathan Feliciano

In @Brandon Turner 's The Book On Rental Property Investing, Turner touches upon the art of negotiating a deal.

He suggests "instituting a penalty whenever the other party asks for a concession."

How and when do you institute penalties? Are penalties an official thing you put in your letter of intent? Or is it more like an unofficial thing, i.e. waiting a week to respond to the seller's concession?

Looking forward to reading your responses.

In @Brandon Turner's The Book On Rental Property Investing, Turner touches upon the art of negotiating a deal.

He says to "always get the last concession" when negotiating a deal for a property. The reason behind this is "if the other party realizes that every time he asks for something, he will need to give something, he will naturally shy away from asking for more."

What do you do when the seller denies your "last concession"? Do you walk away? Do you let them get the last concession? Do you offer an alternative demand? 

Is it really that important to get the last concession?

Looking forward to reading your responses.

Wow! Thank you everyone for sharing me your knowledge! You’ve all given me a newfound understanding of rent vs ownership! Thank you!

For a while now, I've been hearing from multiple real-estate investors that "families make the best tenants"; they're more likely to keep the rental property in good condition and they tend to rent for a longer period of time, usually several years.

But what I don't understand is why do some families rent---and not buy---a property for themselves? I feel like it would make more financial sense to buy a property you plan to live on for several years. So, why rent?

I'm curious to hear what you guys have to say about this.

Hello,

How do you find out your market's vacancy rate?

I heard the best way to do so is by calling a local property manager or landlord. Have any of you done this before? If so, how did you initiate that conversation?

@Joe Villeneuve @Kenneth Garrett

Thank you for your responses.

Let me rephrase my question:

Who are the type of people that come to you to rent and live in your properties? 

For example, are these renters people that are parents with kids? Are they students going to college? Or does this not matter?

Hello,

So recently, I started learning about creating a target market for your business.

As I was learning, I got curious and asked myself "What would be the target market for a real estate investor who's business is renting out single-family homes?"

It would be incorrect to say that anyone can rent out a home. It needs to be more specific.

Can you share with me your target market: the people most likely to rent out an SFR? Please be specific by including demographics and psychographics.

Looking forward to reading your responses!

Thank you for your feedback everyone!

Hello,

I would love to hear from those that bought an SFR and transformed it into a multi-family rental property, i.e. a duplex.

Can you share your story on that transformation?

What made you want to transform it? Is it because you wanted to house-hack, force appreciation, or a different reason?

How did you transform it? Did you do it yourself or hire contractors?

Hi everyone!

I would love to hear from those that bought an SFR and transformed it into a multi-family rental property, i.e. a duplex.

Can you share your story on that transformation? 

What made you want to transform it? Is it because you wanted to house-hack, force appreciation, or a different reason?

How did you transform it? Did you do it yourself or hire contractors?

What challenges did you face along the way? 

Was the transformation worth it? How successful was your investment after the transformation? Would you do it again?

Looking forward to reading your stories!