All Forum Posts by: Alex Brookbank

@Dan Shelhamer Probably at LEAST 30 days notice. When you start marketing a rental property that implies you'll be showing the unit. So, if you're going to start marketing the property after you give that tenant notice and before they leave ... they'll have to be willing to let you show the property, or the process could become a real challenge. But they may not want to be accommodating... since you're giving them the boot. The safe way is to give them 30 days notice, they move out by May 16th, you clean and freshen up the property within a week, start marketing it, and will have a new tenant by July 1. But in that scenario you're losing one month's rent. Maybe it makes more sense to see if they will stay if you increase their rent?

@Account Closed good luck!

@Jacob Bindler for renting ... not marketing the actual propetty. The post wasn't very clear.

This is what I have done most recently:

1. Craigslist

2. Zillow + syndicated partners

3. Cozy + ssyndicated partners

Other best practices I've found are to max out the property description, and use lots of pictures - including the good, the bad, and the ugly. Be responsive to inquiries and use an "open house" format not a "private showing". This saves lots of time.

Curious what digital platforms you have found the most useful when marketing a unit? And what are your best practices?

@Jay Helms cozy.co offers online rent payments for free, via checking accounts.

https://cozy.co/features-pricing

@Art Maydan Technically, you are supposed to live there for a year, and have to sign a document stating that you intend to do so. Obviously, life gets in the way and things happen. But at a minimum you must at least move-into the building, or it is outright lying/fraud.

@Jake Thomas exactly

@Art Maydan for investment properties, yes. But not for your primary residence (if it is single family) or if it's a multi family with FHA. Again, not an expert, but those are two exceptions. VA loans are another exception for example .,... but only for properties that you live-in.

Typically, you are correct. For instance, my second property (which was a primary residence) was a triplex, and since I already had an FHA loan on my first property, I had to put 20% down.

@Art Maydan I think it is pretty common actually. You'll need to use a lender or mortgage broker regardless, so you might as well figure that piece out right now and ask them. Your realtor can recommend one, or vice versa. Or you can call local credit unions and banks.

Hard Money Lenders, or you're going to have to raise private money. Since you won't be living in the properties, you'll need non-bank type lending or all-cash. I'm not a flipper, but this is the basic outline. @Carrie Barrette A "live-in" flip is a way to start with little cash. If "we" means you and your significant other.