All Forum Posts by: Jonathan Roberts

Also, I would probably want something in the lease agreement

I have a potential tenant who has asked if they could install a security system at/in their unit. Not sure what exactly they want yet such as merely window and door sensors or outdoor camera's as well. My initial thought is that if their is any drilling or modifying or the unit such as running wire, etc. then a licensed and bonded contractor should do the work at the expense of the tenant. In addition, I would need permission and the access code/safe word for the system. 

Any thoughts on this?

Thanks!
-Jon

Thanks for all your replies, I greatly appreciate it! 

Curious what to do with the Vacancy, Repairs, and CapEx monies you withhold/save from rentals? Seems that one would want it readily available when the need arises, but also put the money to work as well.

What do you do with said monies?

Thanks!

-Jon

May pull the trigger on a duplex which has tennants who's lease ends in Sept and Oct. I asked my realtor to inquire about their payment timeliness to guage the tennants. My idea is to leave them as month-to-month for perhaps 6 months then if they are timely on payments, have them sign a new lease, but then it may be a good idea to have them sign a month to month lease right away to educate them on my expectations then another in a few months later at 12 month?

One unit is renting for 600 and I'm ok with it in its current condition, would up the rent after they move out and do some repairs, rehab. Perhaps 625/mo.

The other unit is way under charged at 685 for some reason; 3bed, 1 bath, garage. I would pretty much immediately raise the rent even with the risk of losing that tennant. It would go for at lease 850/mo.

What would you do in this situation?

Thanks!

-Jon

Potential deal: 

Looking at a triplex later today which from the pictures needs its shake roof replaced. This property will be a buy-and-hold which begs the question of whether I go with a bit more expensive metal roof or asphalt shingles. I've read that metal will last possibly twice as long as asphalt though a tad more expensive to install. Most roofs in my area, Cheyenne, Wy, never make it to 30 years and are lucky to make it past 5 years... Any opinions? 

Thanks!

-Jon

Makes sense. Seems to be a lot money coming off the top for something I don't necessarily need at this time. 

Jeff,

Thanks for the information, I am looking forward to meeting other investors in the area.

-Jon

Wondering what management software you all are using and why?  Thanks!