All Forum Posts by: Luke Marsh

@Don Chambers, I would be open to connecting on SEO/SEM strategies. Feel free to reach out via PM.

Personally we use primarily digital methods of advertising, Google Ads, FB Ads, SEO, etc. However, one of the more creative ways of advertising that I have seen grow in popularity over the last couple of years are via your vehicle. I have seen anything from temporary magnets, to complete paintings advertising businesses. 

As a couple other people mentioned, I would recommend having money set aside as a reserve for any unexpected events or repairs. I would also have $10k+ set aside for the reserve before moving on to the next property. Having your financials organized each month via rent roll will give you a great look at the monthly costs as well. You can also have annual or semi-annual costs as part of your financials. There are quite a few different property management software companies that can help organize financials and provide a rent roll option. 

I would recommend getting the fan, it is a cheap cost that can add value for the buyer/renter. 

Hi @Andre Walker. I would recommend digging into some of the resources available on BiggerPockets to get a better number on your estimate, versus the $25 sq/ft and $40 sq/ft estimates. These resources should be helpful. 

https://www.biggerpockets.com/blog/how-to-estimate-rehab-costs

https://www.biggerpockets.com/store/estimating-rehab-costs-ultimate

I have lived in Wisconsin and Indiana, currently living in Kentucky. If I could choose anywhere it would likely be somewhere in the northwest, Seattle or Vancouver. I don't mind the snow, or rain and think those areas would provide some amazing scenery. 

@James L. There are a lot of options out there that can allow you to collect rent payments online via a variety of payment methods (ACH, Debit, Credit, etc.). Appfolio, Innago, and Cozy are all examples of property management software companies that allows you to collect rent online. 

Hi @Reid Williams I agree with Joe, that you would definitely want to go with property #2. Being a beginner I would try to make it as easy as possible. There will be a lot to learn from on your initial property without the major rehab, so I would try to avoid it. Once you have your workflow and contractors all organized, then I would think about taking on a property like #1. 

Hi @Tanisha Costello there are a lot of great resources out there that can help you learn the ins and outs of SEO. Learning about domains, backlinks, content, etc. are all really important.

https://www.searchenginejournal.com/seo-101/

https://mangools.com/blog/learn-seo/

https://ahrefs.com/blog/seo-basics/

Hi @Robert Palladino  I would set overall parameters to follow, if they can't meet them then they cant rent it. Having some flexibility in the criteria for credit score/report history like landlord references is an option. Looking at the other factors like income, background check, tenant history, references, etc. allows a more broad view of the potential tenant so you aren't relying on a single factor. I would personally base the decision on the overall picture.