All Forum Posts by: Tanya S.

@Julian John

I too have looked at those condos. I think the way you get them to be very interesting is not to have the typical unfurnished, one year lease type of tenant, but... Cater to the tenant who is temporarily in the area but needs a furnished place. I couldn't do it because I don't live in the area and couldn't service the turnovers, but you certainly could if you plan to stay close by. 

I think there are quite a few nurses and military folks that come into town for several month stays and that location is great. AirBnB could also be a great option for that particular asset class, as long as your HOA allows temp rentals. Last I checked there were only two places like that on airBnB that I could find for the dates I wanted. Good luck and let us know how it goes!

@Ben B. 

Give @Upen Patel a call and see if he can assist. He is based in the DC area, but working with me on mortgage #5 in San Antonio.

Lance - Vincent and Richard are spot on. My tenants pay all utilities in the SFHs. My duplex has a common water meter, so I pay the SAWS bill. It runs about $75-80/month for the entire property (both units are 3/2.5 with 2-3 adults living in each side). So it comes out to about $40 per unit as Richard explained. It's the only utility bill I pay as a landlord.

Insurance varies depending on the type of coverage you want and the specifics of the property you are insuring. Best to talk to a rep. I have policies with both USAA and Amica, and have had positive experiences with both.

Hi Scott,

I allow pets in all five of my rentals (in VA and TX) and have had no problems. I attribute this to:

- Type of property (all are class A rentals in great locations that appeal to responsible, professional tenants)

- Rigorous pre-screening of pet and owner. A good, responsible owner who has committed to training their dog and ensuring it has proper manners, is much, much more important than the breed for me, so I don't discriminate based on type or size. I will say that it is important to watch the interaction between pet and owner when you meet them, as this will give you insights into whether the owner has spent time properly training their pet (mostly applicable to dogs, as that is what all my rentals have currently).

- Do check with your insurance company as Michele mentioned, however, as they may have some restrictions on certain breeds and you don't want to find out you are not covered if something occurs. 

- Refundable pet deposit. This provides an incentive for tenants to take care of the unit. I don't charge monthly pet rent, generally, as my tenants are paying towards the top end of the price range for my units, and it generally isn't too common in my area. Listen to the other investors in your area as they can let you know what tenants are typically paying in terms of monthly pet rent or deposits, so you are in line with what others are offering in the rental marketplace.

- Generally, I think the only common pet I would be opposed to a tenant having would be a puppy. As cute as they are, even the most responsible pet owner cannot prevent occasional (or multiple!) messes on the floor and/or puppy escape artists chewing or destroying items when their backs are turned for a second. Luckily, all of my tenants have had well-trained, indoor pets that had already lived through their puppy years in someone else's property. 

Finally, I'll just echo that renting to responsible people with pets is beneficial in that they really do stay longer and reduce turnover costs. The first family with two Bassett Hounds that I rented my first sfr to is still there 4 years after I purchased the property. They even asked to install a dog door at their expense, which I of course, approved. And they just signed another 2 year lease. :)

Good luck and let us know how it goes!

Justin Hankins, Caliber Home Inspections

210-559-4374

He'll even do FaceTime if you can't be present for an inspection :)

Yes, Miss @Ana Adler owes BP a progress report on what a rockstar she is! Please tell them how you magically turned one house into three.... :) 

hugs to you, chica xoxoxo

t

Hi Chris! What's your price range, goals, and objective? SA has many areas with different price points and different kinds of properties... What are you looking for - SFR, multifamily?

I could tell you what works for me (like Will P, I also focus on great school districts), but that may not fit with your goals and what you're trying to achieve.

Where in DC do you live, btw? I was living in Columbia Heights before my last move and loved it there. 

Welcome to BP Erin! 

My SA agent is terrific and found me a house I closed on two weeks ago. Send me a PM and I'll send you his contact info.

Excellent! Can't wait to see the show :)

What an inspiring story, @Joshua Dorkin !

It is relatively easy to follow a traditional, ready made career path like the rest of the masses... It requires so much more energy, creativity, sweat, and sheer determination to strike out on the less-traveled path and stick with it despite the many, many challenges and setbacks. 

As someone who has worked in corporate marketing, as a high school teacher, for an overseas nonprofit, and now for the federal government in vastly different career fields, I know firsthand how difficult it is to constantly reinvent yourself every few years in wildly different career fields. You have managed to take your collective experiences and turn those experiences into a flourishing community of individuals who are improving their own lives and the lives of others in their communities, one property at a time.

Congratulations on your well-deserved success!