All Forum Posts by: Stan Johnson

@Anthony Greco My suggestion is to read “the book on managing rental properties” on BiggerPockets. This book will have you well versed in all area of managing your property and they also give you documents and websites that will help you. Everything you just asked about is in that book, trust me!

@Johnothan Edward Layne I have 2 SFH's and have become well versed on the law. Read "The guide to landlording" (something to that nature) on BiggerPockets. This book goes into detail on how to evict, collect rent amongst other things. In my opinion, I would just eat the cost since you have not became familiar with everything that comes with managing your property. You will spend so much more if you try and fight. I would also dig through the apartment she left and find any and everything wrong with it (within reason) so I can keep as much deposit as possible. You have 30 days to refund the tenant back her deposit and if you took money out of it, you will need to have a list showing that with the deposit. If this does not happen, she can sue you for the rest of her deposit and you will probably lose if you did not have a tight defined lease and proper documentation. Again, I would suck up the loss, learn from this situation, rerent your property, and become well versed with the landlord tenant laws.

@Joseph Alves Vivint is amazing and inexpensive! I use them.

Hello BP family,

My name is Stan and my husband and I are new to Real Estate Investing. We current have 2 SFC homes and is wanting to expand our portfolio in NC, SC, and VA. We would Love to connect with real estate investors and also obtain mentors. We have been educating ourselves on BP forums, reading articles and listening to podcasts. Please give us a some guidance.

@Randel Doubty I am also new to investing and currently have 2 SFH. I would Love to network to grow our portfolio.

@Tuvia Goldstein

I am a new investor as well and dove in head first. I got my first tenant in 2 weeks but had so much interest. I did all my transactions through cozy.co and also collect rent and manage the property as well through cozy. Get some rental management books off of biggerpockets to assist in broadening your knowledge about investing and management. Depending on the neighborhood, I do 620 credit score and the tenant have make 2.5 times the rent. Typically renters make the deposit equal to the first months rent. I rent out my property for $1495/month but charge $1000 deposit. If the rent was lower than a $1000, then I would do the same amount as the rent. Hope this helps!

I am new to real estate investing and currently have 2 properties under my belt. One in NC and one in SC. I have been reading rental management books and they say to have a book with policies and procedures to ensure you operate your investment as a business. Do anyone have advice on where to start? Any examples or their own book they would like to share?