All Forum Posts by: Kyle Bruns

You could get a deposit only card to give to your tenants. Then they should be able to take their cash to any ATM that accepts cash deposits. I personally haven't used this service, but I think BOA offers this card.

I totally agree with @Matthew Olszak. Another major red flag is when a prospective tenant is in a huge rush to move. When you're getting questions about how soon a person can move in, sensors should immediately go off. With that being said she paid for you to do the background check, if that comes back clean, and the credit check shows she is paying all get other bills, she is probably telling the truth.

I am often asked if my apartments are all electric. Some people like only having one utility bill. Although it's possible most people assume if it's electric heat it's a forced air electric furnace.

I have used Anthony with The Flat Roof Company and been very satisfied with price, service and final product. Believe it or not they only work on flat roofs. 

I worked at Wash U briefly. I looked into this program and talked with some other people about it. It doesn't sound like many people take advantage of this offer. It does show that Wash U is a forward thinking establishment and are making steps to get the area heading in the right direction. I don't think Wash U is having the same student enrollment and retention issues that a lot of other Universities are having. 

I am not very familiar with these areas personally. I am always interested to see neighborhoods in transition. 

I think you are taking the right approach with this up to this point. With no response from the tenant you must escalate to the next level which is consulting your attorney and filing an eviction. You have done everything you can to settle this problem amicably, and should move forward with a clear conscience. I applaud your patience. While we only know one side of this story, I do think you should also follow up with animal control and make concerted efforts to ensure this dog is removed from the negligent owner. After you have done your part you can move on with  a clear conscience. There is also no reason for your family not to pursue medical expenses, and compensations from the attack. 

It looks like the numbers work out for this property. What you should be asking yourself is, are you ready for 8 tenants, and maintaining 2 very large, very old buildings. I'm am assuming there is deferred maintenance that will need to be completed, etc. This type of investment could be very time consuming in the early stages, but once you have the property performing, it can be very easy to manage and maintain. 

I wish you luck in your adventure.

I would try not squabble over the price. I probably wouldn't agree to the price increases either. It may be helpful for you to gently remind him why he is selling the property. If it is sentimental to him, possibly offering to invite him to see the property when the rehab is complete may excite him more about the thought of selling. 

It is not necessarily the weather that keeps people from moving during the winter months. Anyone who has lived in St Louis for an extended period of time knows that you cannot predict the weather with any degree of certainty. You should consider the lifestyle of your clientèle. If you are hoping to rent to college students, or graduate students, you may consider trying to have your apartments toward the end of summer. If you're apartments cater toward families with kids, you should try to have your apartment available toward the end of the school year. My rentals in south city are 1 and 2 bedroom apartments, they never sit vacant for more than 1 month. My tenants are mostly young professionals, the time of year usually doesn't matter much to them.

I am in St Louis. 

I have seen the electric company take them out for non-payment. They always replace it with a clear plastic blank plate though. I have never seen anyone steal a meter. I have seen people use a heavy gauge of wire to jump past the meter to keep the lights on.