All Forum Posts by: Kassandra T.

Hi,

meetup.com has some local groups.

partnerships with travel agents, bars, and so on.

We have a visit anchorage website and that's feeds the furnished rentals. Then every lead I found for relocation people, I saved.

tanext, talk to tip agents. They always have families that need a place to crash in between closings. I got $500 more a month in rent the other day from these tips.

love the story. Love the dedication. In the begining it is like that. Erik and I left 100k jobs with some cash and a resume. Now 7 years later we work for us, have time and freedom, and best of all.....beyond happy!

We love educating and helping others. I believe I saw ya the other day, please stay in touch and went it gets hard, I'm a phone call away.

We have a professional panel of experts that is speaking on "clean house" & "get paperwork in order:" IE, systems, bookkeeping, financial planning,&etc.

Location: Jitters

Date/Time: 04-17-14 @ 5:30-7

Cost: $10 to help pay for food.

Please RSVP on facebook. Seats sale fast.

Facebook: Educating and empowering Alaskan Homeowners

meetup.com:

Educating and empowering Alaskan Homeowners

Posted for Alaska, Anchorage, Eagle River, Wasilla folks.

This is non-profit.

There is no sales pitch.

@Kyle Rice ,

This is a great example for everyone to read.

A- You'll want to set a policy for yourself and use the "rules are....." when speaking. Sometimes thinking of it like a company and you are the employee helps avoid issues such as this one. This makes it a business decision and not an emotional decision. It also sets a foundation with the tenant that you know the rules and you intend to follow accordingly.

B-When a tenant gives 30 days notice incorrectly, sometimes it is best to say..."The rules are xyz..about the notice...however, we can try to re-rent the unit so it doesn't impact your deposit" This is a great way to say the rules, but also say you want to work it out, if it can be worked out.

C- Normally if this was our rental, I know that true violation notices, fines, and 10 day cure notice would always be posted when issues were found. Which creates "Habits" and "level of expectations". So if this was done when the fridge happened, and when every time a violation has accrued, then when they get the notice- it becomes a standard practice and the "norm" to get another one over the lawn.

D- It is good that you sat down and tried to talk to them from the start. Also from the start these were all signs that it would be a rough end. So by posting properly notices and doing a meeting shows how professional, knowledgeable, and pro-active you are which helps eliminate their want to take advantage of you. But doing a meeting only with just verbal agreements is weak. It is like having a parent tell a teenager to follow the rules and they act out and say things like "yes moma dear" with an attitude and the parent is unable to enforce because they get worn out.

Good luck!

Kassandra Taggart

We have a professional panel of experts that is speaking on "clean house" & "get paperwork in order:" IE, systems, bookkeeping, financial planning,&etc.

Location: Jitters

Date/Time: 04-17-14 @ 5:30-7

Please RSVP on facebook. Seats sale fast. $10 to cover food. If we make profit we donate to a charity.

Purpose: No sales pitch. Just want to educate and empower Alaskan Homeowners so they can make informed decisions for their family.

Facebook: Educating and empowering Alaskan Homeowners

Posted for Alaska, Anchorage, Eagle River, Wasilla folks.

I do hear the pros/cons of this program. By speaking up, I'm sure I'll get a "response" accordingly.

However, I think I should speak up as there is more cons than pros posted thus far.

Maybe I'm the one person that can say this but the education was life changing for me. I've been very successful with the knowledge on their classes, online classes, books, and work books. since the training, Erik and I no longer work a JOB and we are out of the rate race. (Passive income greater than expenses)

Yes, my first deal was a credit card. And I made enough to pay it all back plus pay off the class. It isn't the big bad credit card that is the issue. It is all about learning how to use the credit card as a tool...the right tool. When I learned the concept of how much leverage i can use to make a deal, I've been able to take opportunities I couldn't before. Example: I bought and flipped an rv with the bank money and made a quick $10k. Then I used the $10k to start up something else. It is allll about learning the mindset.

Next, we continued to learn about different deals, strategies, How to's and more from different advisers. So in any business there are good stories and bad stories....in my case it was good and I now travel to see family frequently and have freedom. But I had to stomach that $25k class and learn how to overcome fear...and it worked. I will never look back.

Good Day,

I have a few points that you'll want to consider as the answer to this question all depends on your business, market, and risk tolerance.

-What is the market? - Some markets the upfront cash is one month, last month, and the deposit. If this is the case in your market, then this is a red flag. If it is normal- then it is a grey question.

-Type of property? If this is a low end property, it is not uncommon to find multiple tenants that ask this very question. It is recommended to obtain the full amount as the risk of issues are reduced. If this is an upper end unit, then the risk is lower, depending on their background.

-What is your risk tolerance? Depending on the type of experience and savings you have will determine your risk tolerance. If you have little room (financial and with your time) to help balance a possible risky tenant, then follow the rules and wait for the best tenant and you won't regret it. If your risk tolerance is higher, then this might be an acceptable risk level for you and maybe you can charge more in rent/fees for the inconvenience.

-What is your "company policy"? Do you have proper wording in your lease to ever collect the other half? Can you evict for not collecting the other half? In Alaska and Oklahoma, If they don't pay the other half of a deposit, I have a REALLY difficult time trying to collect, and not to mention the stress.

-Can you counter their offer? You can do other options such as should you charge as a rent or as a deposit for the final payment so you can evict for non-payment? Should you ask for a non-refundable fee for doing a payment plan?

-Has the background been pulled? Read the story. Does the story make since? Did the prior landlord say it was true? Why would a landlord let someone move in without a deposit anyways?

-Immediate Gratifications- There are a lot of tenants now that rush rush rush...and they want it NOW and don't know how to wait. Those tenants can be bad cause they will rush and spend their money and forget to pay rent or utilities. So if they show signs of rushing to move prior to saving up their full amount....Then they might be a "Rush" Tenant.

I hope this helps!

Kassandra Taggart

First, I'm a firm believer of the franchise method. go to [REMOVED] to learn about the RPM program. That way you are not just another mom and pop.

Second, it isn't the same mindset. As an investor you want more rentals units in a building. As a owner of a PM business you want quality rentals not quantity.

Third, Pay is based on the market and position. It also depends on the company set up. I have some at min wage...some on salary..some on base + commission. I even outsource some services to another country to keep costs down. Again, it is best on your set up and there is no wrong answer.

@Jason Kaufman

Double check the actual rule in the declaration. To my knowledge the FHA / loan rules on HOA's just say that the rental must be a one year lease (Every HOA is different on the lease term requirements but most are one year).

The only place I've heard of this rule is when using a FHA or VA loan program.

Also, it is based on how many rentals are in the complex. So lets say your client waits the one year, and then he applies for the rental, it is possible he will be on a wait list before he can even rent the unit out.

HOA/Rentals are difficult to have anymore due to loan programs on the HOA and the Buyer...also the Board is forced to rule with a heavy hand.

At least this is how Alaska operates.

Kassandra

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