All Forum Posts by: Clay Smith

I am ditching my $200 monthly Appfolio fee next month and going to Cozy.co January 1st

I will miss the maintenance forms but that is it. Can't wait to simplify this process. I will probably just build a basic maintenance form on my website. Maybe even log tenants in PODIO for quick reference.

Russell has a point. If he is truly a good tenant, just keep up on inspections and repairs. 

Next one is on the 19th. Brett put it on meetup.com. I will be at 3 other events on Nov 18th and Dec 10th (x2) as well.

Do a property assessment (move in inspection). Take photos now. Keep repairs up. Charge tenant for damage. This will make sure he has a deposit he deems worth saving. Gives you the leverage.

Wait until April when he has no more leverage. Give him 30 days notice to vacate or sign a new lease. Do not let him stay next winter. June & July is an easy time to rent again.

Consider writing a lease that allows the tenant to exit early if his job makes him move. IF he keeps it clean, let's you show it before the move, and says positive things to prospective tenants during showings; you will give a full refund without penalty with 30 days notice and end of month move out date. And a fast deposit refund on the day of the move.

Have the buyer do a lease and option with the seller. Tell buyer you want x dollars and have them sign a note. Tell the seller your business associate will be signing and managing everything. Answer the sellers questions. 

To do:

Find a third party payee company to ensure seller/buyer makes payments, pays taxes and insurance.

Seller keeps insurance policy and changes it to accommodate renters.

Buyer responsible for repairs.

Seller is protected by the 8k interest buyer has when they make repairs. Now the buyer has money in the deal.

Go over to J Scott's 123flip.com site and read his post. This site has a system for rehabbing. Get the contracts and documents to start off right. You will thank me.

tonight's KREIA keynote speaker is Mike Fallot. He is a hard money lender. Will loan 90% purchase and 70% repairs.

Hey Erik! Thanks for the bump.

I am seeking CASH BUYERS in the LOUISVILLE, KY area.  If you are interested please complete this buyer form and I will contact you for more information prior to sending you deals.

http://rentkentuckybuyer.oncarrot.com/

  8813 Artis Way Louisville, KY 40291