All Forum Posts by: Mario Cuartas

@Dennis Wayne

Hi Dennis, homes for well under $10k with $700 rents, that is 7% rule status right there. If you don’t mind me asking where are you investing at? I imagine these are predominantly found off market right?

@Ola Dantis

Hi Ola, I agree that you can be the best landlord in the world and still gets stuck with crappy tenants, but I also believe that there are things that landlords can do to mitigate the risks. For example, the fourplex I walked through the other day as a potential investment, had water leaks from the second floor units into the first units, the floor was almost caving in, there was mold everywhere and the property manager was the one that let us in. I guess where I am in shock is that the property manager would know of all these issues and not fix them. For one, if they were caused by the tenant, can’t something be placed in the lease that indicates they are violating the contract if they don’t report these types of issues? Or if they caused them? Shouldn’t the landlord work to protect their investment by fixing the leak immediately after it was identified? Again I agree with you that there is no correlation, but I also feel that some landlords exacerbate the problems by their lack of action and engagement. What are your thoughts?

@Josh C.

Thank you for insights. I do agree with you, but I also think the landlords contribute to some of this with poor management. If the land lord does 3 month check ins and learns that the tenant is neglecting or destroying the property, as long as the lease has verbiage for it, I think the tenant should be evicted before problems get out of hand. Of course bad things will still happen and tenants can still destroy a lot in a short amount of time.

What do you think are some property management tactics and strategies you have used to manage these properties effectively? I have heard some folks that offer a monthly or quarterly deep cleaning service from a professional cleaning company, I have heard great success from this, and although it eats at your bottom line, it protects your asset, is a tenant satisfier, it’s a differentiator among properties, and it gives the landlord piece of mind.

@J. Mitchell Bernier

Thank you. That helps a lot. I never thought about the brink construction piece, but it makes sense as it will hold up to a beating and neglect a lot better. I appreciate the insight.

@Oscar Padilla

I agree Oscar, I think the sketchy neighborhoods seem a lot scarier when looking out state. I think the key when looking out state is to build a good reliable

Team of real estate experts that you can work with; that will greatly reduce the stress and anxiety of out of state investing.

@Matt Leber

Thank you Matt. What are you go to steps to tenant proof a rental?

@Matt Leber

Thank you for sharing your experience with these rentals. Do you manage the properties yourself? If you have a property manager, is it hard to find a manager to take these on? Your experience is exactly what I would aim for on every rental, ensuring a a clean and safe property for anyone to live in regardless of location and income.

@Steve Rozenberg & @Nicholas L.

Thanks for the names of those books. I will definitely check them out.

@Ehab Shoukry

Thank you for sharing your experience. Turning $50k into $100k is not bad at all! That is definitely a huge win. I guess when you gain appreciation like that, putting up with the ups and downs of low income tenants is 100% worth it.

@Steve Rozenberg

Thanks for sharing your experience. What is the name of your book, I want to check it out. Are you still in this space?