All Forum Posts by: Lionel Quiambao

Hi all! What speeds would you recommend putting in a medium-term furnished rental? It's a 3 bedroom house and we plan to use technology such as a smart lock, WIFI exterior cameras, and a smart thermostat. That on top of the tenants' usage, what speeds would you offer? And do you have any recommendations with regards to modem / router?

 Oh, gotcha, yea that makes sense. Thank you for the informative responses!

That sounds perfect, thank you! I didn't wanna overdo it and get something like 1 Gb (even though that might make for a good addition to the listing title?), and so was curious if I should get like 300 Mb, 500 Mb, or 800 Mb, but if 100 Mbps is good, I'll aim for that, and maybe throw in the option for the tenant for more speed at an increased rent to cover the additional payment. I believe I read someone doing that on BP. Any thoughts on that?

Hi all! What speeds would you recommend putting in a medium-term furnished rental? It's a 3 bedroom house and we plan to use technology such as a smart lock, WIFI exterior cameras, and a smart thermostat. That on top of the tenants' usage, what speeds would you offer? And do you have any recommendations with regards to modem / router?

I see, thank you for the confirmation!

Hi all, I'm looking to open my tenant pool to all kinds of MTR tenants, but I'm curious as to how to screen tenants received through an insurance claims contract? Do you still screen these types of tenants? I assume the answer is yes, since the tenant(s) is/are still responsible for the property and any damage that may occur. Would you just leave out the income requirement since the housing agency is covering the rent? Also, would their credit score matter in that case? Probably not, but would like some confirmation please.

And I'm curious as to if there are any major differences between screening LTR tenants vs other MTR tenants? Would it all just be mostly the same: general background check (including prior evictions, lawsuits, etc), credit check, income verification, landlord references? Let me know if I missed anything crucial as those were just top of mind.

Thank you all in advance for taking the time to read this and/or give a response!

Absolutely! I definitely will give them more work, but considering this is my first one, I wanna stabilize this as a rental before attempting to purchase a second one. I would like to compensate them by paying a bit extra, but what amount is too little and how much would you say is too much? I was thinking an extra 5k - 15k, but this is my first time, so I'd like to hear your thoughts!

Yes! I covered some of the balance while we waited for draws. And this was a conventional purchase + renovation loan, so I haven't used my FHA 203k loan yet, but it's still been pretty tedious. Would it have been better to use the conventional loan to just fund the purchase price and then funded the renovation another way like hard money? (if I didn't have the upfront capital)

Hi everyone! So I'm under renovations for my first property and I used a conventional purchase and renovation loan, not knowing how tedious the draw process would be for me and my GC, but saw it as the most convenient way to fund the renovations.

Doing our best to communicate with each other to ensure a smooth draw (fill out work completed form, get inspector out, review from both HUD Consultant and lender, send for signatures, 3-5 days of processing). On draw #3, the tediousness of this process, which caused delays, and then an extension form was requested where we would need to explain the delays, was really getting to the both us, and my GC vented to me his frustration about the delays in payment.

He's been really patient and understanding, his team works fast and they do good work. I'd like to know how you guys would reward good GCs. I'm looking to BRRRR this property, and hoping to be able to provide a bonus out of the refinance portion. But I haven't said anything because I don't wanna make any promises until the refinance comes through and until I get your guys' thoughts. Thanks in advance!

Nice, I have family there! Thanks for the tip. I actually built a tool to help me better analyze Furnished Finder listing data, so if you're into MTRs and you're interested in checking that out, let me know!