All Forum Posts by: Jeff G.

I wouldn't pay $35 to apply for an apartment I haven't seen.... would you?

Tell them the criteria, if they say they meet it show them the appt and then if they want to apply they can do so.

Mine are about 50 min away it can be a pain when you are showing a property and have several open houses over the course of the week.  But worth it!

So this question came about from another active topic.  It is off subject so I thought I would post it separately.

If you mandate in your leases that your tenants take care of all lawn care and snow removal do you as the landlord provide the lawn mower?

I have one property that the tenants had their own mower and another that I recently purchased that I left my old mower at and said they could use.  It has me uneasy however that I am opening myself up for liability....

Thoughts?

Congrats Sue.  First one down... now on to searching for #2!!

Congrats Ben

First thing I look for is the BIG ticket items.

How are the windows, roof furnace/AC siding, any signs of water damage if there is a basement is it wet does it have bowed walls, what is the general condition of the electrical system.  Then how much work will it need, are the bathrooms and kitchen in good shape, flooring walls ect.

I look for anything that is going to cost me money the day I buy it or something that is obviously going to be a big expense in a few years.

My first property was 38K  total rent (2-units) is $995 I netted out after all expenses over 8K last year.

Only re-investment in this property was new gutters

Second property is a single family I will close on any day, purchase price $31,500 will need to buy appliances and paint a few bedrooms.  This one will rent for $850/month, I expect to conservatively net out about 400/month on this property.

These are not run down properties, my property I am about to close on doesn't need ANY work.

There are plenty of opportunities out there, you need to put in the work to find them.

CONGRATS

I draw up a new lease and keep everything the exact same if they have caused me no issues.

A lease can only benefit you and if the tenants intend on staying they should have no issues.  

Why go month to month and guess every month if you are going to get a letter of intent to move?

I like the reassurance of a lease for whatever it's really worth.

If the windows are still operational I would say 15 windows is a lot of money to spend that you dont need to at the moment.