All Forum Posts by: Katie Fiola Jones

Hey @Darrin Carey, 

That's what I have found to be the case after looking into it more! 

I would love to chat and would love any recommendations you have. 

Thanks 

@Courtney Jones our first property is actually in Indiana! We were recommended to check out Dayton, and I've been doing some research this past month and have been happy with the area and we're looking to jump in over there now! 

Hi everyone, 

My husband and I are looking to purchase our second rental property out in Dayton, OH. Our goal is to purchase something in the next few months. We are looking for a duplex - a fourplex. 

Right now we're searching for some connections out there - realtors, investors, property managers, and contractors. 

Would love to set up a time to chat! 

Thanks! 

Very happy to help! @Nadir M.

Hey @Jason Cook 

Congrats on your first rental property! 

Only because I'm curious - under lessons learned you said "Screen tenants." Did you have a bad experience with your first tenants? 

Hey Andrea. 
I totally understand your disappointment. 

This happens a lot in real estate, so look at this as a learning opportunity! You probably did a great job analyzing this deal, so do it again and find out how you can do it even faster this time around. Once you get good at analyzing it shouldn't take you too long to recognize a good deal in the future. 

It is just all a part of the process. 

I find analyzing deals fun and it helps you stay sharp. 

I hope this helps you get back on the horse! Don't give up. Once you find that deal and close on it - even if it's not perfect - it will feel so great! 

@Nadir M.
I found my property manager through personal recommendations. 
Also, find out how many people are working for them full time compared to how many properties they manage. If they have a small staff but a large amount of properties you can assume that you are just another house to them. The quality of management might not be as great. Find out if they manage other properties near yours, this will let you know if they are in that area often to just do a quick drive by, and also lets you know if they understand that specific area well. 

I also like to know how they deal with writing leases, and how they deal with late rent and evictions. I want to know that they have dealt with these things before so if that ever happens with my properties I can feel good about how they will handle the situation. 

Ultimately, make sure you feel comfortable with them. 

And just a recommendation to you as the property owner - let them do their thing. Once you've picked your PM just sit back and don't hassle them. They are the experts and you should treat them as though they are. So don't go bugging them each month with questions unless there are any true red flags. =]

Hi @Nadir M., 

Congrats on closing on your first rental! 

I would keep it simple and do the first and late after the 3rd. But some people like to collect rent on the day of the month that the property is leased from (ex. Tenants move in on the 15th - you collect rent ever 15th of the month). I think doing it on the 1st is the simplest. 

Definitely post your ad on those two sites. Zillow will then go and post your ad on to Hotpads and Trulia for you. You should be able to find someone to rent it from one of those sites. Also if you have the chance to go out to the property it would be a good idea to put a sign in the yard. Do you plan on being out there during the leasing process? Someone will need to show the property to prospective tenants. 

I have a property out of state and I use a property manager. They list the property, do all the showings, do the background checks, write up a lease, collect the rent for me, and handle maintenance issues.  It makes things easy for me because I don't have to worry about chasing a tenant down if they don't pay rent. Or if something breaks down, I don't have to find a contractor to fix it. I was also a property manager for 3+ years - so I like using them and can see the benefits from them. 

Hope this helps! I'm happy to answer any other questions. 

I was a leasing agent for 3+ years. When I had someone come view a house and I always followed up with them if they showed any interest while viewing the place. If it was just minor interest I would usually just send a quick text letting them know the place was still available and would send them a link where to apply. If it was someone that truly seemed interested and said they would apply I always called those people. 

Or if we had reduced the rent on it or were offering any incentives down the line, I would always send a text out then letting people know. Sometimes they might not be interested for some reason (price, location, condition), but maybe they aren't telling you.

If you are getting a lot of showings and no applications you can assume something is "wrong." Ask for feedback from people - maybe it's something you can fix - price or condition. 

I was a property manager for 3+ years. Once I managed a duplex where the owner of the property wanted the lower unit to be responsible for the lawn care. I tried talking her out of it because I thought a lot of issues could come from it. The issues mainly came in the winter when the lower unit tenants were out of town - the upper unit tenants were very upset when the sidewalks weren't shoveled after a huge storm. 

I currently own a duplex out of state and we hire all lawn care and snow removal out because I don't want tenants to get upset about that kind of stuff. 

I think I would be easiest to do like what @Frank Geiger said - hire a neighbor kid or two when needed. Call them up after it snows or get them on a regular schedule in the summer for the lawn.