All Forum Posts by: Mose Gebremeskel

I'd go with in-state to start out. You're closer to your property and can learn real quickly especially since it would be your first rental property. If you do plan on getting more property in the future maybe it would be easier to expand out of state because of what you've learned from this first property. Ultimately, it's mainly up to your goals and strategy.

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I think the weight of the decision is based on what your goals are. Selling it might be best in my opinion bc of the equity.

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Atlanta, Georgia

More than likely you'll disappoint your friends at some point. If you're willing to take it that's fine. I think hiring a pm might be better to take care of that.

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Omaha, Nebraska

I can only show up in life ready and prepared by taking care of myself first!

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Ha pretty funny. Unfortunately, that landlord has gone through the wringer. Agreed with Nathan's comment above. Start out being clear with future tenants and screening processes, then this would be less of a headache.

1 Vote

Quote from @Mary Smith:

I don't think it's a good idea to raise your rent amount based on the amount of applications you're receiving. It could lead you in some trouble. Definitely thoroughly screen your current set of applicants and choose the best for your rental.

Agreed Mary!

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I wouldn't raise the rent after the fact. The tenants who applied for that rent are expecting that amount.

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Hi Justin, good question. I would also look into the 3 different REIA's I listed below. They have events and meetups that might be beneficial in your journey.
- https://www.upstatecreia.com/d...

- https://reiclub.com/real-estat...

- https://charlottereia.com/even...

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Charlotte, North Carolina

I'd have someone take care of that a handyman or a snow removal service that can at least get the snow around 3/4 inch or higher.

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Minneapolis, Minnesota

Quote from @Beau Guidry:

Chris, I own property in New Orleans that I rent on section 8. It’s in your best interest to not try and hold on to a tenant that doesn’t want to live there. Im not saying let them walk away free and clear but maybe try to work out turning the lease into a 6 month term and allow her to recover half of her deposit IF the property is as clean as it was when they moved in. This incentivizes the tenant to to move out at an agreed upon date and leave the property in the best condition possible. I know the section 8 market very well in NOLA and you will not have any problem finding a new quality tenant that will be ready to move in asap.

I was faced with a similar situation with a tenant about a month ago and that was the option I gave her. A week later she realized how hard it would be to find another place (like others have pointed out) and how much money she would lose (half deposit, moving costs, possibly losing voucher) - she ultimately decided to stay. They key is I tried to work with her and give her an option so she wouldn’t feel trapped by the landlord. Reach out to me directly and I can discuss with you in further detail.

THIS! Great advice.

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New Orleans, Louisiana

All Forum Posts by: Mose Gebremeskel

Mose Gebremeskel has started 9 posts and replied 202 times.

Post: Out-of-State vs. In-State

Post: Should I keep my property?

Post: Renting to friends - What's your take?

Post: Who believes being organized and healthy in your personal life?

Post: Does anyone ever feel like this...

Post: Raising Rent Based On A High Amount Of Applicants?

Post: Raising Rent Based On A High Amount Of Applicants?

Post: Real Estate Meetups?

Post: How do you address snow removal for your STR?

Post: Tenant wants to end lease early due to bad area