All Forum Posts by: Mark Derby

That's a nice site. I loved working with Wix. You could probably do without the flow chart of the screening process but your check lists are good. You could probably just list all of your "terms and conditions" (rental requirements) under the last check box and make them say Yes or No to whether or not they agree with your terms and conditions before allowing them to request a showing. Let us know how the automation of it all goes. I'm still small time but planning to expand a bit this year so it would be nice to be able to expand my site to accommodate the automated processes.

I do it on a much smaller scale. http://www.biggerpockets.com/forums/52/topics/1256...

More to help with the screening process but as others have posted, a complex website like you've described will take some management time as well building it and you won't necessarily know it its not working properly and you're missing out on tenants, etc. Most people surf from their phones these days, so you'd have to make it mobil friendly if you're going to rely on it to do all of your business for you. Sounds interesting. Let us know how it works out.

 My strategy is to keep my rent BELOW market value. Lower rent than the competition and a good screening process makes for happy tenants that are less likely to bust your chops over the minor things. Nothing like being called out once a week to oil squeaky hinges and crap like that…

 Any time. I'm not on the site much these days due to my crazy life schedule but will always take time to answer direct questions. 90% of what I have learned to be successful (so far anyway) has been from people on here answering my questions and taking the time to point me in the right direction. Good luck. If you have any questions, shoot me a PM and I do what I can to help.

Mark

 I'm not tech savvy at all. I'd say that if you can put together a power point slide show using Microsoft Power Point, you'd have no trouble at all building your own website.

I used Wix.com to build and host the site, which took me about 12 - 14 hours total. They have tons of online tutorials showing how to do every step. Here's a link to my site http://www.otmproperties.com. I've taken down the interior pics because both units are rented. The copy of the lease is just a standard lease and not the one I actually use. I didn't have time to post the amended lease before signing leases and haven't been back to it.

I fund this pre-screening method much easier than having the conversation on the phone about the rental requirements and screening process,etc. It also opens the door to have that conversation when you do show the apartment to someone since to get to a showing, they have to verbally agree that they've read and have no issues with the requirements.

Good Luck.

Any idea what a typical operating budget would be for a 20 unit condo complex in MA? It's got new windows, 10 YO rubber roof, Brick exterior. Grounds / parking lot are in very good shape.

Is there a ball park per unit formula? I'm looking at a condo and due to the recent repairs, the escrows are under their threshold of 10% and the bank is balking at writing a loan for it.

It's tough to get read receipts for all email "systems" so I always state that this email serves as your official written notice and ask them to respond acknowledging that they received it. It's also in my lease that email with read receipt or acknowledgement of receipt shall be an acceptable form of written notice.

Is it legal to put language in a lease that states the all provisions except for the fact that they are TAW remain in place after the lease expires? Curious what others leases say about this?

Thanks. I've got to think it through some more. If I'd have to cash someone out in 6-12 month, seems like I'd be better off pulling equity out of another property. I can see cashing out on those terms on a flip but I'm looking for down payments for B&H investments.

I should have mentioned that this would be a buy and hold situation only.