All Forum Posts by: Orrett Lawrence

@Justin Melendez thanks for the information

Justin- thanks

I am in the make for builder and architect to assist me with building my home on my private property in the Wesley Chapel, FL.   I appreciate any recommendation.

While you are at, look into using a dynamic pricing tool/platform so you do not have monitor your daily pricing. If you are not using a dynamic pricing platform, be sure you are monitor your daily pricing and tracking events so you can price accordingly all which takes up a lot of your time. Google dynamic pricing tools." 1% fee"

From my experience, having a property manager is worth it, especially if you don't live in the immediate area of the rental property. I agree the placement cost can be discouraging or a put off and not all PM are equal.  So interview them, look at their ratings and reviews, talk with some of their home owners they work for, if its ok. 

I currently have properties I manage myself and other properties with a PM.  For each approach, I decide which tenant I accept.  You can screen and select your tenant but you need to understand the screening process and what to look for and look at such as, credit scores, credit reports, rental history, income to rent ratio (income 3 times rent rate is my minimum) back ground, creating that worthiness profile.

If you are placing the tenant in order save on the PM cost, its not worth it.  Either you jump in and manage your property or give it to a great PM. 

Great PM has a price but so does cutting corners. 

I do use the credit scores and debt to income ratio. However, regardless of the credit scores I feel safer with 3:1  ratio income to rental rate- is a must.  The clients pays for the credit and background.  

Hello BP community- I am shopping to a photographer who specialized in photographing home for STR. I am looking for someone with experience supporting the STR investors.

Thanks BPs

Orrett

Hi Craig,

Is this a short term rental property (AirBnB type) or normal long term lease property?  

Hi BPsI recently bought a rehab property. Six weeks after closing I received a tax bill for 2017 & 2018. When I called the tax office I was told that the taxes weren't paid for 2017 and 2018. My question is shouldn't my closing agent (law firm) research/ verified and disclosed this information on the HUD statement?

Please share your thoughts.... thanks 

NC investor