All Forum Posts by: Joseph Waitkevich

Quote from @Colleen F.:

@Joseph Waitkevich   where is your property?  If it was Mass I would tell you call the cops because chances are they will find a gun violation because it  is practically illegal to have a gun in Mass.   I think though it must be another state and you should try for some local advice by including the city/state of your rental.

It is in Houston, TX. There is a fair amount of criminal activity going on in the surrounding area. The problem is there are several owners who provide housing to these tenants causing problems and these owners just see them as a rent check unfortunately. We are attempting to work with the HOA and other home owners but the HOA management company is very unresponsive. I appreciate your feedback! We will keep working to improve things. 

Quote from @Scott Mac:

What are they seeing that makes them say no.

Gang members, Gang Graffiti (vs tagging), shoes hanging from the power lines, a lot rain ruined flower and candle memorials with weathered photo's of those mowed down in street battles?

Or is it your place, is it just to downscale for the rent you are asking for it.

What if the rent was $250 a month--would they still flee the area, or would they sign on the dotted like.

If it's not price or product, then maybe you are attracting the wrong prospects to the place.

People who eat too high on the hog---birds of a feather--sort of thing.

As a New England financial consultant I'm assuming you are pretty far removed from the possible renters in this area.

If the area is really tough, can you read gang graffiti and discern it from tagging? Do you know why they might have thrown a good pair of sports shoes up on a power line---things like that.

Just my 2 Cents.

Know your demographic....understand what they want, and what they don't want..

 Hi Scott, 

Thanks for your reply, yes we are out of state investors from Massachusetts so we work directly with our property manager who is reporting to us that there several men in this area who walk around with guns which has scared off multiple applicants. We've had multiple shootings in this area since purchase. There were no issues of this when we visited the property in person but perhaps it was due to the time of day we went. Nonetheless, we need to get these units rented and I was curious if anyone had any experience/advice from dealing with similar situations. 

Thanks again!

Joseph 

Hi All, 

my partners and I purchased a property in a less desirable area a couple years ago. Since letting go of some problem tenants we've had struggles renting out the vacant units as potential tenants sign up for unit showings only to leave once they see the area. This stems directly from the tenants in the surrounding units but the problem is, the owners of these properties don't necessarily care about their behavior and just the rent that comes in. Has anyone dealt with a situation like this before? If so, what are some solutions that were effective? 

Thanks in advance for your input! 

Hi all, 

I was doing some research today on good banks to use to open a business checking and savings account for an investment property. I came accross Baselane, wondering if anyone has used it before and what they thought/if they would recommend. Thanks!

I am planning to purchase a multi-family proprerty in the relatively near future which I intend to house-hack. I would like to save up enough for both my down payment and an emergency fund. From experience, what would be a wise amount to have leftover in reserves after any down payment/closing costs? 

My partners and I started out with RentRedi but have had numerous problems in a short amount of time from tenants having trouble navigating and submitting payments to an unhelpful support team as well as long payment processing times (usually takes a week for initiated payments to hit our bank account. 

What are some of the best online rent services that you would recommend we switch to? 

Thanks! 

@Taylor L. 

Thank you for your response, for context. The area itself isn't a bad or crime-ridden community it is simply just a small section that has these activities. The problem really relies in the fact that none of the ammenities that we pay for are available, for reasons I do not know. The members of the community have made it known this is why they are upset and the noise is a result of this because they have no where to go besides in the areas outside the properties on that block. 

Hi Everyone, 

Myself, my investing partners and our Property manager are having some trouble with the management company as well as the HOA board that our property is a part of. We are in a class C neighborhood and have had some problem tenants that we were forced to evict. However, there is an ongoing problem with the members of the community. There is constantly conduct-violating noice, illegal narcotic activity and overall loitering that goes on outside and in the area of our property. The majority of the other owners are very unresponsive and refuse to have direct contact with anyone on our team as we have reached out several times to make a joint effort to provide an outlet for the memebers of our community as the majority of them are disgruntled because the immenities that we pay our HOA monthly for are unavailable. We have also reached out to the community management company as well and they are equally as unresponsive. We are out of state investors and our property manager does most of the day to day work. It has come to the point that those in the comunity who are causing these conduct violations are actually more reasonable than the other owners and the HOA board. There is a lot going on in this situation as you can probably tell and we are currently working on solutions but I thought this would be a good place to go to get some advice if anyone has dealt with a similar situation. Feel free to ask further questions if my description was not clear enough. Thank you!

Hi All, 

I am considering the idea of purchasing a laundromat to generate mostly passive income while I continue to invest in real estate and work full-time. Of course I don't want to jump into something like this without having extensive knowledge on this topic. Does anyone with experience in this have any advice or helpful tips? I would like to learn as much as possible but am unsure at where to start. Thanks! 

I am having trouble replying to specific comments so I will give an update to all. First off, thank you for your replies they are all very helpful. We have made Housing aware of the change of ownership and are all squared away to receive rents from them going forward. We have concluded both with our agent that we are not entitled to any back rent but there should be no issues with future rent. Thank you for your responses and help and best of luck to all of you!