All Forum Posts by: Mark Langdon

Get an umbrella for at least $ 1.0 MM preferably $ 2.0 MM if you can afford it. Let the insurance company lawyers fight for you. Sleep better at night.

You have to do the right thing and replace/fix the item. Then fight with the cleaning companies insurance/withhold payment until a resolution.

Never ask about children or ages unless you want a lawsuit. You can word your rental application to get them to volunteer the info versus you asking them directly. Loosely worded questions such as "Tell me about your current situation ? Tell me about your group ? How many people would be renting ?Can you send pay stubs etc. They would probably volunteer their info to you most likely.

Seems like a no brainer to flip this for the capital and look for the next deal. I wish I could get $50k+. That's great! That's too good to pass up. Save the buy and holds for smaller margin deals.

Let us know what you choose and why.

Not much you can do but try to be reasonable and be there when the tree company comes as you may be able to talk to them to minimize the damage. Call the town to see if they need a permit and make them follow the permit rules. Also I am not an avocado tree expert but you could offer to pay a tree surgeon company to pick them before they fall every year and agree to that to help eliminate the hazard.

I have been on BP for 4 years (oldie) but not actively. Time to get back in the game (renewed newbie) and use this great source and expand my real estate portfolio.

I have a lease expiring in July at $ 3200/month for a SFH in New Jersey ( nice high end neighborhood) and would love to keep them and thinking of when and what I should offer them as a nice incentive. They have been perfect tenants (couple and 2 young children) keeping the place spotless and they never call (home was totally renovated a few years ago from a foreclosure). I have 1 1/2 months deposit.

The rental market seems a little tight so it may not be too bad if they don't renew but much easier of course if they renew. I always am looking to do longer than 1 year leases. I wasn't thinking of raising the rent this time but may if the market stays tight.

Some options I was thinking:

1) Give back $ 400 from their security deposit now as a nice gesture and another $ 400 if they renew. I feel 1 month security $ 3200 would cover it as they are the perfect tenants to date.

2) some sort of 1 time gift card/wine basket/local store gift

3) Offer no rent increase if they lock in and renew for 2 years

Always thinking of a Win-Win situation so leaning towards Option #1 as this costs me no money but gives them up to $ 800 that they didn't have.

What do you all use as an incentive to keep good tenants ? Thanks and love BP !

This sounds great. Time to get back in the game. Count me in

Hi John;

Not sure exactly what your looking for but I am a long time project manager; Rehabber, and Landlord. Contact me if interested.

Mark