All Forum Posts by: Mark Fedorov

You don't have to make it perfect to rent out. As long as it is safe, rent, get the income, regroup when the lease expires.

Downtown WB should be avoided.

The times that I have gotten SWEEP fines, they pulled identifiable evidance from the trash and sent that pic in with the fine, I passed it along.

It is almost always worth it to go after them. Just let them know if they don't pay you they are going to get an eviction judgement on their credit report, put your time to go to court on that balance. 

This one may be too tough to manage from 1 hour away, perhaps you should get the management company now, and then learn from them how to manage, and kick them out after a year or tow when you are comfortable.

I am thinking of branching out in the PM world in Scranton. I have facilities and people there, DM me if you are still looking.

Yeah I am in Allentown and Scranton, my vacancy % in Scranton is less than 1%.. in Allentown it is 0.. tenants don't move. If you need help in Scranton shoot me DM.. I have people a facilities there.

It depends on what your other options are, and also depends on the risks inherent on your modeling which got you the 14%. .. what is your vacancy assumed (5% hopfully), how much are you assuming for capital replacement? Is the assumption of your labor cost in line with the rates of the market you are in?

.. never be enamored by a number, worry about the assumptions that got you that number.

So my update: I made a relationship with a small local bank, I have all my rents go though them, I am probably one of their larger business customers. They gave me a large plastic bag what holds 50 lbs of quarters (it is some sort of security bag), I weigh out 50 lbs of quarters, fill the bag, drop them off at the bank about 3 times a year, they credit my account $1,000. They told me that they would ship the bag to the federal reserve and it would be counted there and any adjustments to the count would be taken off my balance (that has never happened), they also said I am the only customer they allow to do this I don't know if that is true, for all I know when I leave they have the 3 tellers that are sitting around roll them in paper... in any event I dump the quarters in a bucket every week and every two or 3 months I break out the scale and fill the bag and drag it to the bank.

I also paid $1500 for a MUCH better, new change machine. that DOUBLED my though put AND allowed the quarters to turn into bills.

I have a duplex that I have owned for 22 years, I lived in there in the 90's I know it well, it is an easy place to manage but I have to sell it (my son is off to college next year). It has tenants, I have had one month of vacancy since 2012, I would prefer to sell it without an agent, however I worry that there will be dozens of investors wanting to walk through the place, disturbing my tenants, making them antsy and the investors then low ball or otherwise do not generate reasonable offers.

What is the best strategy for making sure the potential buyers are serious before letting them in? 

Lots of pictures on a web site?  As for proof of pre-qualification? Open house type tour?

Any advice is appreciated.

Mark