All Forum Posts by: Mathew Wray

It's been my experience that most of my tenants are looking on the 3rd weekend of the month. I agree that there's a lot of variety possible with different scenarios and opportunities to capture the quality tenants, but if I had to try and narrow it down I'd say, 3rd weekend is the winner.

Congratulations Jessica! Looks like great work to me. When it closes would you be comfortable sharing what neighborhood it is in? You said you blew your timelines...would you be okay sharing how long the project took? I love Portland and am always happy to see a fellow Oregonian succeed! Congrats again :)

Hi Miranda! I think you'll find that lots of people become accidental landlords and end up loving it. Take advantage of this great website and dig around. You'll find both horror and success stories. Luckily there is something to learn from each. If you're in a larger town in Central Oregon it may be worth it to go with a property manager. If nothing else you should at least talk with one to get their impression of your property and the local rental market.

Best of luck!

Howdy Ashley,

I've used Kate Brooke with the Brooke Law Office (

http://www.brookelawoffice.com/) a couple of times and have been happy with her work. She helped me put together my PM contract and I've been pleased with the result.

I agree with approaching the tenant for solutions. It's very possible that she may be willing to make other arrangements. If that's the case I'd prorate her rent for the month (seems to be the right thing to do). The other options are great as well, anything to prevent having to pony up for a hotel for a week. I love the vacant unit idea! As Greg mentioned it might be possible, and worth it, to push the contractor to work faster, maybe offering an incentive bonus for finishing early/working on the weekend?

But you're right, if you can't find any other solution then you'll need to find her other accommodations.

I'm bald too and have had those hair pull-out moments...my advice is to just do what is right for you and your tenant and your investment and you'll be fine!

Mathew

Having Section 8 reps come out and examine the "wreckage" is a great tip that I've never even thought of!

I tend to agree with the others, it seems like a combination of good will and a firm hand in starting over now seems to make sense. Be clear about expectations going forward, that you want a plan to pay you the money owed, and that going forward a shortage in rent will not be tolerated. Since there is already a pattern of missed rents you'll have to be extra diligent in holding firm in the future.

Lyndsey,

I drive by my tenants every other week if they haven't provided me any issues and at least once a week if I have any concerns. As for interior inspections I go inside on a formal basis twice a year, spring and fall when I change the smoke alarm and CO2 batteries. I do this so I know they're working and use it as a chance to have a look around. Also, like Robert, anytime I have a contractor over or work being done I'll meet them and have a look around inside.

The language is set up in my lease already, I can enter the property with 24 hours notice. As long as I give them that you're covered. Robert is right, you don't want to get too worried about the level of clean. Different people have different standards however if you see something that presents an issue (dirty dishes all over the place, trash not taken out regularly, etc.) you should mention it as a pest control measure.

I spent 5 years in the Marines so I've literally endured white glove room inspections (and conducted them), these walk through inspections aren't that! You're looking for obvious deficiencies and damage. My suggestion is to ditch the word inspection and pitch it as a repair walk. Let your tenants know in advance that you're there to help out and encourage them to have a list of things needed. This will let them know that you're serious about taking care of your investment and are not there to penalize them.

My .02 cents :)

Nicolaas,

Thanks for your service! I know that it isn't always easy but it will pay off in more than just pride. You probably lived and learned more about leadership in your time in the Army than most people with a BA in business.

I've learned a lot from reading books but not one particular book if that makes sense. More like a little from a bunch of them. Honestly, your best bet is to set up a keyword alert on Bigger Pockets for Austin and then read through as much of the landlord sub-forum as you can. This website is the best resource I've found out there putting expensive books and courses to shame! There are tons of posts answering questions you didn't even know you had :)

After that, I'd say just do it. Learn from trial and error. Take advantage of your benefits, and let someone else pay your mortgage for you while in school. Sounds great to me!

Good luck

Thanks for posting that link Beth! Interesting read...I've always been a little leery of Hillsboro but with all the high tech companies that have moved in and taken up residence there I'm slowly coming around.

Oregon requires that you accept the first qualified candidate and there is a time and date requirement...but we're definitely a tenant friendly state. Maybe Texas is different.

Michele Fischer I'm really curious about your point system. You should do a post or blog about it. And as long as you're applying the same criteria to everyone and have a clear standard for what a "qualified candidate" is then you should be in the clear. It's a really interesting system.