All Forum Posts by: Curtis Mears

@Tina Lee

What temp is the tenant setting the heat at and can the unit maintain that temp. I have had tenants keep the house at 80 degrees. Just doing work in the house was uncomfortable it was so warm. Also, are there large air leaks in the house maybe allowing cold drafts in? Looks like maybe you need to get to the actual issue.

@Bruce Woodruff

Government rules always have the opposite effect of what is intended. Passing a law like this means landlords need to be more strict in leasing requirements, thus less low end rentals.

@Waylon Smith

You may get the 2% in a run down area, but not in most areas. Back in 2016, I was getting around .8% in solid b+ areas. Now, they are closer to .5%. that being said, the properties I bought that were .8% are now closer to 1.1% with the rent appreciation.

@David Travieso

People look to add value because it helps make the numbed work. In some markets, trying to find turnkey properties that cash flow are almost impossible to find. Finding a fixer upper allows the numbers to work.

Some issues anyone can fix. Painting, new appliances, etc can be done by anyone.

@Molly Paprot

You would need to have trusted partners in the local area.

@Gloria A.

You should have a process in place regarding late payment. For me it is, rent is due on the 1st. Legally, I have to give them 5 days grace. After the 5 days, I mail a 10 day notice to pay. After the 10 days, start eviction. If you follow the process, you can always decide to delay eviction but at least you are ready to file.

@David G.

Is there someplace else she can store her bike? Maybe designate an area as bike parking. I guess the main issue is if other tenants are inconvenienced because of the bike. Have you received complaints? Is this really an issue or is it only an issue for you?

I have a potential tenant who is from outside the USA. He has a job lined up with large firm, and also has a new social security number. But, as the SSN is new, there will be no data on him. Also, to trying to call old landlords.probably will not work as they speak a different language. Is there an international credit bureau that does background checks? Or does anyone else have experience renting to expats?

VG now I understand. You do not understand what I am saying because you do not own rental properties, but you have read some books on the subject and know the terms. The vacancies are not a separate line item, as these are historical numbers. Vacancies would be reflected in lower gross rents, not separate line item. As for cap ex, I include them in the Direct expense line item. PITI is also included in my direct expense line item as I already noted. As for debt, I did not address debt as that was never in the original post.

Maybe you could help me out and let my accountant know I make far less than what he keeps telling me. I would appreciate that.