All Forum Posts by: Kevin Harrison

I think you are spot on with the lessor idea for the kitchen. Adding an island is an excellent use of that space, definitely need new counter tops, new doors on the cabinets, also I would spend just a little more and make sure all the appliances are at least the same color. It gives the place a much higher end appeal. That's my personal opinion at least, nothing says no one cares like having 3 different color appliances.  

yes you can offer them a new lease and if they do not want to sign it just give them a 30 day notice of non-renewal. But remember that if they do not renew then you will have to turn that unit, just make sure you are ready for that cost. Also it may be more profitable in the long run to only bump their rent part way to market if you can get them to stay and save that money that turning the property would cost you.

It all depends really. if you are satisfied with your returns and are nearing retirement then there is no harm in keeping them. That being said you can definitely get much better returns for your money, but this will take time and some work.

The real questions are, are the properties local to you? If they are then are you planning on staying local as well? If yes to both these questions then even eaiser to stay with what you have. If no to the second question then do you have management set up? how much will that cut into your monthly CF. I could keep going but these should get you thinking in the right direction.  

Hard money lenders will typically set their own rates with little to no room for negotiation unless you have developed a relationship with them. You can always and most people typically do use HM for the acquisition and then get a bank loan at a better rate later to pay off the HM lender.

BTW having someone come out and clean the air vents will only cost about $300, ask your landlord for that and your issues are solved. Please do not forget that you moved into this unit and signed the contract which I'm sure stated "As Is" condition.

I use Mehbolm, they charge 10% of gross, 50% of first month for finding a tenant and only $100 to renew a tenant. The only issue I have with them is that it is hard to get someone on the phone, BUT this will answer an e-mail in a flash. I have been using them for about 3 years now and have only had one big issue with them but that person is no longer working there.

You can require it but it is almost impossible to ensure that they do it or keep it unless you are listed as "additionally insured" but most renters are not going to want to do that. The plus side to requiring it is that is something does happen to their property and they try to come after you for it all you have to do it tell them to claim it on their insurance. If they didn't get the insurance then it is their problem. Note that this is not bullet proof but it does add an extra layer of protection.

Yeah but if we don't bump the posts every now and then they will die. Then new users on the sight will not get a chance to see all the great knowledge and entertainment contained in them.

@Nicholas Moffett, you are the type of tenant I am terrified of. Most of the ones who are trying to scam you are pretty easy to sort out. You on the other hand look great on paper and can probably do one hell of an interview. Its not until you move in and have a signed lease that your LL will realize what a nightmare you are.

As others before me have said, just ask to move out. Any LL worth his salt will jump at the chance to not have to deal with you whining and complaining about things that you don't even have any verifiable proof of.

Following for entertainment value.  

Figuring out that a quality product in a quality are may not make as much money every month but provides for much more consistent and hassle free returns. No chasing down rent, minimal having people break things or trash your place, minimal actual broken anything and tenants who let you know when things do break.

screen screen screen!