All Forum Posts by: Michael Diossa

Wow. Many people think being a landlord is just collecting rent.

You definitely have the right attitude and I'm sure you have what it takes. One thing a new local PM company has been doing is reaching out to us to work more as potential partners than competitors. This is one easy way to gain the knowledge . I'd say look for a company that is close by but not to close where you might be "taking food off their plate". That way if you ever come by someone but their property is too out of reach for you, you can send them a referral.

Or you could manage this property while working for an already established PM company. 

You'd be amaze how many successful people want to see you win even if one day you'll become a worthy rival.

It's truly frustrating, Will. I appreciate you sharing your experience. While offering attractive terms can be a way for lenders to entice clients, it's the ability to successfully execute on a deal that's paramount. As some have pointed out, many lenders fall short in this aspect despite their initial promises.

We find it easier to charge an additional amount a month than using coins. It really is not efficient if the owner doesn't collect it themselves. We will do it but always suggest that or phone app pay systems installed.

It's advisable to complete any necessary renovations before finding a tenant, as the noise and presence of workers can cause disturbances. However, if you decide to rent out the main house before the renovation, it is crucial to communicate clearly with the tenant about what to expect. Perhaps the tenant's schedule is such that they won't be affected by the work, or they may work night shifts and sleep during the day. Maintaining open communication is crucial in this scenario.

There are two important aspects to consider when it comes to renting a property - health/safety and comfort. While it's essential to ensure that any construction work is carried out in a safe and legal manner to avoid any potential lawsuits, it's equally important to consider the comfort of prospective tenants.

My website features listings that can be accessed where I have included certain essential requirements for interested applicants to pre-screen themselves. This approach helps in filtering out non-serious inquiries, which saves a lot of time and effort.

I purchase and install custom-fit metal 1 blinds for windows from online stores, with an average cost of less than $300 per home and a lifespan of 3-5 years. In case of any damage caused by the tenant's misuse, they are responsible for the replacement.

Without installing these blinds, tenants may resort to hanging unsightly items.

It is not needed, More so if with a business partner.

As mentioned above,by based on what I'm hearing, it seems that you intend to sell this property in bulk. To ensure profitability, it's recommended that you stick to the 65% rule when acquiring the property and then price it at 70% when presenting it to potential buyers.

It is worth examining the trends and projections in these industries and considering how they may impact the demand for real estate in the area.

 Consider factors such as the potential for rental income, appreciation over time, and the overall economic conditions in the area.