All Forum Posts by: Albert Hasson

I don’t think the media is to blame. There is a palpable sense that the economy is slowing down and the media is picking up on that.

Look at the Atlanta Fed prediction for fourth-quarter GPA, it is down to 1.4%. The four week moving average of weekly jobless claims is at a one-year high. There is now a threat of tariffs on imports of automobiles from Europe which would be  economically devastating to our country.  

 There is plenty of uncertainty out there and this is leading to a slowdown in housing. 

The media seems to be the scapegoat for all our country’s problems......sad

This has happened more times to us than I can count.  Tell them they are responsible for the rent until you find a suitable replacement tenant.

Unless your lease or state laws dictate another course this is what I would do.

This has happened more times to us than I can count.  Tell them they are responsible for the rent until you find a suitable replacement tenant.

Unless your lease or state laws dictate another course this is what I would do.

Yeah, that seems like a lot of work

If you have the time and expertise, more power to you!

I'm sure deals can be found but the median home price on the Phoenix MLS has just this month surpassed the record set in mid 2000's just before the recession

The easy money has been made. Prepare to work hard to find deals.

 Does anybody have any experience with investing in the communities of Buckeye, Avondale, El Mirage, and Goodyear?  

 Specifically,  what has been your experience with the tenant base on that side of town, have you had many evictions, delinquencies? 

Nick, it's your first rental and you are obviously excited about REI, congratulations!!

However, I think you are totally over analyzing this and it sounds like you have just lost a months (or more) rent due to your overly strict criteria.

No amount of research can guarantee a good tenant.  Even a "doggie interview" won't tell you if the dog will scratch your floors and piss inside the house.  This teacher sounds like a god send to me given the C class location of your home.  Sign her up and stop wasting your time.  If you have that much time to kill start researching your next investment.  

To me, one of the biggest variables in this business is how a tenant will treat your property. Over the years, I have had tenants really trash some of my homes. Anything I can do to minimize the number of tenants and thus decrease this wildcard factor is worth it. If that means foregoing a modest rent increase, so be it.

Sue,

You are making two huge assumptions.  One that turnover costs one months rent max and two that it only takes one month max to rent.   Most of my homes are between 1600 and 2600 ft.². I pay $.90 a square foot to paint and roughly $.90 a square foot to carpet.  With rents in the $1800 a month range, it costs me much more than a months rent to turn over a property. It also takes a few weeks to get the work done and very rarely can I rent a property and have someone move-in within a months time of the last tenant leaving. Of course, it would be different if it was a 600 square-foot apartment so I don't know your situation but I believe my advice is sound.