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All Forum Posts by: Rusty Thompson

Rusty Thompson has started 17 posts and replied 406 times.

Post: Investor Payroll, who's in your wallet?

Rusty ThompsonPosted
  • Real Estate Investor
  • Salem, OR
  • Posts 422
  • Votes 149

@Mike Updegraff

Try thinking outside of the box. Construction workers are often looking for side work. If you can network with enough of them you will always be able to find someone to take care of what you need done.

Post: Investor Payroll, who's in your wallet?

Rusty ThompsonPosted
  • Real Estate Investor
  • Salem, OR
  • Posts 422
  • Votes 149

Mark

Have you considered looking into getting a "handy man" instead of a contractor? I work with 4 different guys. None of them are contractors, but they all do good work. Its a lot cheaper than if I hired a contractor

Post: Having trouble getting a tenant

Rusty ThompsonPosted
  • Real Estate Investor
  • Salem, OR
  • Posts 422
  • Votes 149

Good luck...

On a side note, I had a 30 day vacancy after I had the property posted to Craigslist. I was get really worried that the market had changed and that I was going to have drop the price.
When I went in to adjust things I realized that the person that had posted it had unchecked the contact box. So people could not e-mail me. Once It was listed properly It was rented within the week. Sufficed to say I will be posting the listings myself from now on.

Post: Raising the rent--giving them options

Rusty ThompsonPosted
  • Real Estate Investor
  • Salem, OR
  • Posts 422
  • Votes 149

^^^
I've been told the same thing, if you don't have a schedule-E the will accept a 1 year lease agreement. How this has worked out in practice, I have yet to see.

Post: Having trouble getting a tenant

Rusty ThompsonPosted
  • Real Estate Investor
  • Salem, OR
  • Posts 422
  • Votes 149

Again not knowing your market it's hard to determine what sets your unit apart from many others. What I noticed

- Your comps appear to be high. The majority of rentals in Brooklyn are in the 2000-2400. There are some over 2500, but they seem few & a lot at that price point offer no fee's

- If it has been on the market for 30 days with only 3 showings then it is defiantly priced to high. The season has something to do with it, but in my experience if its priced right season means nothing.

- How big of a rush are you to move it, a 200$ price reduction will be made up by having it occupied one month early (over a year). I would drop the price to $2199 & see if I could move it. If this is the medium (which it appears to be) then you will have a large pool of applicants. In my opinion its a lot more important to get quality tenants than to get a top of market price....

two cents worth, take it for what its worth

Post: Having trouble getting a tenant

Rusty ThompsonPosted
  • Real Estate Investor
  • Salem, OR
  • Posts 422
  • Votes 149

How long has it been listed? 30 days?

It's probably price. What are you asking? I've had a lot of luck by setting my price into the price point just below the equally priced rentals on the market. I.E. 995$ as apposed to $1000.

Thats really funny Lance, though sadly true. I've been trying to convince my sister to buy a house since the beginning of last year. They finally looked into it and found out their DTI was to high, how did they solve the problem, went out and bought a new truck. Oy vey, will fiscal responsibility ever be important.

Post: Dishonest RE Agents? How common is it?

Rusty ThompsonPosted
  • Real Estate Investor
  • Salem, OR
  • Posts 422
  • Votes 149

Congratulations... its a great feeling

Post: BP Conference on the cheap

Rusty ThompsonPosted
  • Real Estate Investor
  • Salem, OR
  • Posts 422
  • Votes 149

There are a lot of great ideas on here. A lot I have never heard of . Justin S. recommending sharing our arrival times so we can coordinate taxi fairs. I thought it was a great idea.
I arrive @ Thu, Mar 22, 2012 6:30 pm

Anyone else landing around the same time and looking to share?

Post: BP Conference on the cheap

Rusty ThompsonPosted
  • Real Estate Investor
  • Salem, OR
  • Posts 422
  • Votes 149

I've never lived in a place that has mass transit. I'm really not keen on getting lost in the city & missing a big chunk of the conference :-). How hard is it to use?