All Forum Posts by: Matt Fisher

I seem to have trouble finding a plumber that's interested in doing rehabs.  If they are, they are flaky or  not  very professional.  I welcome your suggestions  for somebody that is the right mix of reasonably priced professional and interested in doing rehab versus new construction. 

Regards, 

Matt

I seem to have trouble finding a plumber that's interested in doing rehabs.  If they are, they are flaky or  not  very professional.  I welcome your suggestions  for somebody that is the right mix of reasonably priced professional and interested in doing rehab versus new construction. 

Regards, 

Matt

@kevin Sobilo has the right idea. In your market, college rentals are hot-I would think being their neighbor would be a great way to ensure quality tenants.

@Anthony Wick

I had the same trouble this year. We actively looked for short ter renters or people who would consider 1.5 yr lease terms in order to break the midwinter cycle 

FWIW, there was a fair amount of interest in short term due to non-existent short term availability. 

Don't count Iowa City out for longer term renters. Although there are tons of student rentals, there arealso  tons of post-grad students, resident physicians and other faculty and staff (not to mention the non-UI demand) that make great renters for multiple years. 

The cost in IC is a significant barrier to entry, however and the ROI is lower, in general.

You can do maintenance with no RE license.  To show homes and work with potential renters, you must be a broker or work as a licensed agent under a broker UNLESS you own the property, then you can manage it fully.  

Only brokers are ethical enough to show property or to let property owners allocate these aspects to whomever they choose. #itsaracket 

Thanks @Amber Barr.  I don't think I got a single applicant through Marketplace.  Maybe it's a regional (or asset class?) issue? I will say I may need to take another look at which groups I post to.  There are a lot and I haven't gone back to see which are appropriate or not.

I may be starting a duplex build in Omaha this year. My business partners there are investing in SFRs already with great results.

Regards,
Matt

Sweet, Sounds awesome.  Any more on the way?

What does your bank think? Your loan amounts will be inextricably linked to their appraisal. It sounds like you would have a hard time finding comps that would support your costs. Similar homes nearby would be dilapidated and the new construction would be in a different asset class (townhomes vs what you'd like to build-SFR?).

There are cases where a really good lender that knew that market could find a way to get you that loan.  But IME, I like to use my network to help curb my enthusiasm LOL.  If they have to work to get you funding, you're gambling.

Hi @Anthony Vann,  Thanks for your input.  I didn't mention it, but I do use FB too, just forgot it.  I share with my network, but that has seldom (never?) resulted in renters. I also post in Marketplace and that has been a mixed bag.  I do get inquiries, but I can't remember ever getting a renter that way.  I should take better notes!  It just SEEMS that Zillow gets the most interest-maybe that varies regionally or locally???