All Forum Posts by: Marie S.

I want to pay off my bills and close on another multi-family by the end of 2014.

I will hammer out all of the details in the apartment by next week and get to marketing at the higher rate. I will post an update on how it goes.

@Adam Brandt

@Adam Brandt

I'm not too close to Ambrose but not far. I've gotten one college student the entire time I've been here so I'm not getting the university traffic like the places right on Locust. My place is on the bus line. It's a couple minutes west of downtown Davenport, about 5 min. from the Putnam Museum, and less than 5 min to the river.

I would love to hand it off to a property manager but everyone I have contacted cannot handle the load right now. If you know someone, send me a message. I am biased. There is one particularly popular RE company that I will NOT do business with under any circumstance.

I honestly only need someone to show the place during the morning hours. Although, I won't fight too much about giving up control of the day to day stuff as long as he/she continues to use the maintenance people and contractors that I have sought out and with whom I have negotiated for extremely reasonable service charges.

@Bryan Vince and @J. Martin

How much or what do you reward for referrals?

I do believe that people saw me removing old carpet. Maybe they believe that I'm doing some major renovations. I'm just keeping the place in clean working order. Nothing fancy by any means.

@Garrett Grove It is a 4-plex. You don't think it would cause a problem if two tenants in the building are paying 5-10% less than the other two?

I find myself with a unique problem. I recently chose to not extend an inherited tenant's lease. Soon after, several people in the neighborhood have made it their business to move in. For a week or so, my tenants were being harassed to give up my information. So, I posted a sign. I let everyone know that it will be available soon and i will accept applications.

Well now after checking my mail, people are adding letters to their application. In several, they requested to be put on a waiting list if their application was too late. I never published that I had any type of waiting list!! I have never heard of this! Does anyone do this and if so are there possible problems that I can run into doing this?

To be honest I don't understand why there is so much demand for the place. The rent is not low compared to the other rentals in the area. I don't even provide laundry facilities . Is it normal to have a place in high demand in a "C" grade neighborhood?

I am originally from Chicago and am living in Iowa. I'm wishing to be in your shoes. I'm making my moves to hit the big city soon. The Chicago gravy train runs a lot thicker than any city in Iowa. Good Luck in your endevours.

can someone please explain how Fannie Mae Homepath works for investors?

Thanks @Roy N.

I would have never thought about that.

@George Gray

You can't be harsh simply repeating what I said.

@Roy N. This is a rental. That makes absolute sense. How do you water the lawn though?

@ Sam

@Sam Leon That is a lot of technical speak. I don't know the first thing about plumbing. Maybe when the plumber comes he will be able to give a lot more insight on what's actually happening.

I'll update the thread once I know. In the meantime, I will be going to get one of those plumbing for dummies books. (Just to learn the lingo and understand problems... not put my little curious fingers to work. YET)

@J Scott

You're right on the money.