All Forum Posts by: Stephen Collins

Happy 2018 BP. Wow, it is good to be back, it has been way too long!

What is the latest and greatest emerging technology in the real estate industry? Specifically, a technology that could be utilized/incorporated by a real estate company. 

For example, I was reading about this company called Seeable, they “use high-accuracy mobile mapping techniques to create augmented reality & virtual reality building visualization apps.” This seems like a great way for potential home buyers to “tour” countless homes, before taking the drive out to physically see them. This could save time, money and aggravation.

To put this question in context, I am doing a college project and thought what better place to get a few good leads than the wonderful, professional, and wise members of BP (butter'd up yet? No? Did I mention suave?). I DO NOT expect you to the project for me. I am just looking for a direction to take my research.

Best regards,

-Stephen

I feel like I have "good" tenants and am not too worried about it. This was more for my own curiosity.

As a tenant if I have completed my final walkthrough, signed/not signed the move-out inspection, AND turned in my keys could I not say that any damages found after I left were not of my fault. After all I wasn't there.

My plan was to take my time and really comb over the entire property in detail with the tenant, while taking pictures of everything. I did the same thing with the move-in inspection. I guess the bottom line is their signature doesn't really have any impact on the situation. 

I have my move-in inspection with pictures signed by the tenant. I am about to conduct my first move out inspection. What are the effects if the tenant does not wish to sign the move out inspection acknowledging any damages?

Are there any areas/cities that will not allow you to self manage from a distance? Or require you to do XYZ if you insist on doing so?

If I own property in "location-X", but live somewhere else in "location-Y" and try and act as my own property manager, are there any restrictions?

I understand the headaches that could potentially go with self managing from a distance. This is just for my situational awareness and curiosity.

Thank you.

What type of online rent collection are you using?

I am expecting for my first rental check in the mail any day, it would be great to do this all online instead.

I provided a letter to each applicant that applied. I purchased a book at Barnes & Noble, I believe it was called "NOLO Forms a Legal Guide for Landlords". It broke down the laws of each state. I tailored their lease form for the tennant I accepted, and used their template for each tennant I rejected. I also saved all the rejection letters.

@Jesse T. My family member has agreed to start the project. They are going to build a "straw type" prototype of the website. They will keep track of their hours, and if/when any money is made we will figure out what the "time was worth".

@Anton Ivanov If BP is built on something like Wordpress then I think I will start there. Hardcode can always be written on later on down the road if things take off

THANK YOU EVERYONE FOR YOUR HELP! Our storyboard is being built now and hopefully soon a the prototype. Once I have a semi functional web app, I will be sure to share it here and see what you all think.

@Anthony Peric I have looked at elance and the rent a coder sites. I agree interesting, I am just worried that they would drag the project and meet my needs at a minimum to extend the project.

I found someone in town who I could meet with face to face, if need be that I think can accomplish what I need done.

@Sam Shah & @Anton Ivanov, thanks for the advice. I have found someone who can use a cookie cutter web design to get me going for about $5,000+. It sounds like it will be a mix of Wordpress and some custom code. 

I have someone in the family who is IT savey, and can can help keep these other developers honest and on track to not "over develop" for my needs/wants. I think part of the issue was I was getting quoted for a fully customizable, hard coded web application, and I am just not there yet. I think I will start with something simpler to get going for now.

This is my first post where I have offered advice and not asked for it. So take my answer with a grain of salt.

I am under the impression that you would have to wait 6 months for the “mortgage to season” before you do a cash out refi, or a second mortgage.

Just FYI if you paid cash for the property there is an option where you can refi in the first 6 months, again though it would have to have been a cash purchase. I am sure someone with more experience can elaborate on both of these.

Good luck!