All Forum Posts by: Ken Cooper

I bought my first investment property 4 years ago. It was a turnkey single family in Indiana.  It has preformed ok, but when it turns over, it basically takes a years worth of profits to get new tenants into it.  Since I do not live there, I have to rely on the turnkey provider for all of the repairs needed to get it ready to rent agin.  Thinking of selling it, and  purchasing something closer to home that I have a little more control of.  Any one have experience doing this, or have any advice?

Thanks for the input.  We are asking him to provide more information.

Our tenant wants to move her boyfriend in.  His screening came back with only previous addresses.  There is nothing bad on the report, but it is lacking any type of employment history. Also his credit score comes back as N/A.  Does anyone else think this is strange?

True Kyle, 

The original tenant has been in the unit for a little over 2 years with no increase in rent.  We were thinking about raising the rent, which is at this point under market. It seems like this would be a good opportunity to go ahead and do that.

Thanks for the input.

I have a three unit property in Redondo Beach, CA.  The tenant in the studio wants to move her boyfriend in. I know I should get a credit check on him, and have him added to the lease. The question is how much to raise the rent.

Ken 

@Kenneth Cowan 

I have owned the property for over a year now. There have been no real maintenance issues. Only two small things that total about $150. 

The tenants have at times had difficulty paying on time. They will pay a portion, and then make up the difference later in the month. 

The property management company has done a great job keeping us informed of any issues and handling them. 

Best of luck. If you have any other questions let me know. 

Ken

Update,

After the home inspection we are asking for 15K in credits form the seller.  This will cover the roof and a few other issues.  If they say no and are not willing to negotiate, then we let it go.