All Forum Posts by: Joshua Biondi

@John Horner this is great! I’ve been looking for a new meetup in Columbus! I’m looking forward to attending and getting to know everyone.

Perez Leanne I've actually just created an account with RentPrep and I plan on using them for tenant screening. I had never heard of cozy.co but I'm definitely going to look into it. I have an attorney lined up for evictions. I work full time, so handling evictions myself isn't an option, I understand that an attorney will be much more efficient anyhow. Thank you for the recommendations!

Jordan Bochner I was looking for an investment property for a little under two months when I got the opportunity to acquire this duplex from a family member on a land contract. I then ended up getting a conventional loan on the property about 6 months later. When looking for an investment property I wouldn't accept less than $150, per door, after factoring cap ex and all expenses, including property management. I manage the property myself, but once my portfolio is large enough I won't, and I definitely want to leave room for sufficient cash flow after property management. The amount I'm putting down on the property also plays a part in the minimum cash flow I'll accept because a decent cash on cash return is important. Again, I'm a newbie investor myself, so I'm by no means an expert. I'm actually in the process of purchasing a 20 unit apartment complex via land contract at the moment, which will put me at 22 units in the first year. I'm both nervous and excited lol. Let me know if there's anything else I can answer for you, although there are certainly those on here far more qualified than myself. Im still learning too, but I'm happy to help in anyway that I can. I wish you nothing but success in the future!

@Laticia Braxton Jeff G. Sebastian Marroquin thank you all for the great advice! This thread has been extremely helpful so far! Jeff G. I actually read your tip about looking at the condition of a tenant's car in the Bigger Pockets Book on Managing Rental Properties as well. It's a great idea that I would have never thought of. Thank you. @Laticia I'll definitely Google some free options and check them out. I've heard lots of stories about tenants using family members as landlord references. I'll certainly be cautious of that. @Sebastian Thank you for the detailed list of helpful tips. I'll definitely be implementing some of them in the near future once I start screening tenants.

That would be amazing! I just sent you my email address. Thank you so much!

Jordan Bochner if I were you I would start now. I currently live in Columbus, Ohio and am renting an apartment for $620 a month. With utilities the total cost $700, which my girlfriend and I split. My total out of pocket, monthly, is about $350. I own a duplex, which I was planning on house hacking, but my tenants pay $650 on each side and they cover utilities. It ended up making more sense for me to continue renting at the moment. One side of the duplex covers the entire mortgage, taxes, insurance, with a little bit left over. If you have $30,000 in savings you're in a great position to get started. I would start now to start building equity, establish a relationship with a lender, and start seeing some cash flow. There's no time like the present. However, I'm no expert yet, this is just my humble opinion. Best of luck!

Michele Fischer I'm definitely going to look into my local rental association, and I'm going to call aaa screening tomorrow to learn more about their service. Thank you for your help! I love the idea of a point system. Is that a system that you created yourself?

I am a newbie investor that is getting my first taste of property management as well. I purchased a duplex in February with inherited tenants and so far they have worked out well. However, I've recently gotten the opportunity to purchase a 20 unit apartment complex on a land contract from a family member. My question is, what is the best way to screen tenant applications? I was told to look into Fabco, and after reviewing the site I'm going to call them to make sure I even meet the requirements to obtain credit reports and qualify for a membership. I would like to be able to view tenants credit, rental, and criminal history if possible. Although, the property is in a C area, so I'm not sure if I'll be able to focus on credit scores all that much. Anyhow, I would love to hear any experience you all have with tenant screening and the application process. Has anyone on here had good or bad results using Fabco? Is there another method that would be more efficient? Any advice or feedback would be greatly appreciated. Thank you!

Thomas S. I completely agree. I don't really care who pays the rent as long as it gets paid.

Bram Spiero I'm waiting to hear back from the uncle but I'm fairly sure that he'll be willing to pay the last month's rent anyway. During our last conversation he seemed to think that he would probably be doing that anyway. There's only one month left on their lease so I think I'm just going to tell her that her name will stay on until the lease is up. I don't really care who pays the last month but I have a feeling her uncle will end up paying it all. If, when I speak to him, he states that he wants her off the lease now, as well, then we'll go from there. I don't see why it would be a problem to keep her on the lease if he's willing to pay the last month anyway though.