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All Forum Posts by: Spencer Gysi

Spencer Gysi has started 8 posts and replied 19 times.

Post: How do you manage maintenance in order to scale up?

Spencer Gysi
Posted
  • Rental Property Investor
  • Pennsburg, PA
  • Posts 19
  • Votes 2

Hi all,

I have 5 units and will have the ability over the next couple years to scale some.

One thing that is holding me back is the time commitment on maintenance between little issues that wouldnt really make sense for a handyman/contractor to do and probably wouldnt take the job anyway to renos/painting/etc between tenants and everything in between.

How do others set up management and maintenance to scale up to 10, 20, 30+ units without using a full service property management company and still having a full time job and not taking away from family at home?

Post: Possible Abandoned Rental Property

Spencer Gysi
Posted
  • Rental Property Investor
  • Pennsburg, PA
  • Posts 19
  • Votes 2

Hi all,

Hopefully you can provide a bit of insight on what i should do in this situation. The situation is that tenants are a month behind on rent, their phones are off so no contacting that way, child services stepped in and after that happened the parents left the property and apparently are staying somewhere but I do not know where they are, it has been 2 weeks since they have up and left the property but all their stuff is still there, and the oil tank is empty.

In talking with child services I found out that somehow there is a potential way to contact them through a tablet that is not theirs at the location they are staying. Fairly sketchy since I can try to relay a message but no guarantee.

My thoughts were

1. to get a bit of oil in the tank to make sure pipes dont freeze and burst

2. Lease end in march so I could go through the process to evict them or I could try mutual termination or cash for keys, the issue is that I dont know how I would get any written communication reliably to them or talk to them myself.

I might contact a lawyer soon just to make sure I am doing everything correctly but wanted to check in here first to see if anyone has any ideas or thinks I should proceed a certain way. Thanks.

Post: Tenant Credit Score Requirement

Spencer Gysi
Posted
  • Rental Property Investor
  • Pennsburg, PA
  • Posts 19
  • Votes 2

@Gretchen P. I know this is an old post but wouldnt weeding through credit results and denying if you dont like what you see be considered discrimination for fair housing? How could this be done in a way to not go against fair housing laws?

Post: Accounting software recommendations

Spencer Gysi
Posted
  • Rental Property Investor
  • Pennsburg, PA
  • Posts 19
  • Votes 2

@Tim Delaney

I have heard that rentredi can be buggy, have you had any issues with that?

Post: Renters Insurance???

Spencer Gysi
Posted
  • Rental Property Investor
  • Pennsburg, PA
  • Posts 19
  • Votes 2

Makes sense, thanks.

Post: Renters Insurance???

Spencer Gysi
Posted
  • Rental Property Investor
  • Pennsburg, PA
  • Posts 19
  • Votes 2

@Greg M. What info do insurance companies usually need to add the landlord as additionally insured? I am having my tenant add me to their liability coverage and they says the insurance company is asking for social, DOB, occupation, etc. That seems too much to include the social.

Post: Tenant finding purchasing side of rental LLC?

Spencer Gysi
Posted
  • Rental Property Investor
  • Pennsburg, PA
  • Posts 19
  • Votes 2

Thanks @Jeremy Pace  I guess im thinking not keeping the buying aspect from the tenant instead of the tenant only knowing the rent "relationship" may create some situation where the tenant knows more about my business than they need to. 

Post: Tenant finding purchasing side of rental LLC?

Spencer Gysi
Posted
  • Rental Property Investor
  • Pennsburg, PA
  • Posts 19
  • Votes 2

Was not sure how to describe this post but here is the question:

If I use XYZ LLC to buy property and have a lead generation website and videos of me explaining items for potential leads, then subsequently rent the properties acquired, would there be any concern with the tenant being able to look up XYZ LLC that they are renting from and find the buying website and my videos on there?

Or would it be better to have the rental name be different than advertising and lead generation name?

Post: New to Bigger Pockets, Personal Introduction

Spencer Gysi
Posted
  • Rental Property Investor
  • Pennsburg, PA
  • Posts 19
  • Votes 2

Hi @Jacob Lapp, I grew up in Quakertown and still live in the general area. Congrats on the multi! Let me know if you have any questions or want to meet up at any point.

Post: What is you virtual PO Box experience?

Spencer Gysi
Posted
  • Rental Property Investor
  • Pennsburg, PA
  • Posts 19
  • Votes 2

Does anyone have experience with using a virtual PO Box/address? How has it worked for you and have you had any issues?