All Forum Posts by: Curtis Mears

@Moss Siridajnawanan

I have gotten price reductions, but only after an inspection found an issue that was not known. I don't ask for discounts for issues that are disclosed or known. I ask for discounts if an issue was unknown but found by inspection.

Here are the numbers in more detail. I do not have all individual line items broken down, just the summary.  I could get the individual numbers if people are interested. I had 12 properties, but sold 2 a year ago because prices were insane. The numbers are averaged over the properties going back 5 years. All the numbers are annual.

Gross Rent $18,210 (increased to $20k for 2022 due to rapid rent increases in 2021 and 2022)

Direct Expenses (includes maint, ins, tax, HOA Fees, and depr) $6,916

Indirect Expenses (Telephone, Travel, prof fees, etc) $351

Net Income (Rent-Direct-indirect) $10,944

 Ner after all expenses except depreciation.

@Curtis Mears

Sorry, I forgot to pull out some.other income. My average per year is about $11,000 per property. This is for 10 sfh 3 bedrooms and 2.5 bath properties averages over 5 years.

@Tim Bee

I average about $13,000 per door per year before depreciation.

@Peter Christensen

Follow the process. In my state, they are allowed 5 day grace period. After that, I send a 10 day notice to pay. That gives her 15 days and let's them know you have a process that sets the rules. After the 10 day, then it is up to you whether you start eviction on all 3 of them. If you follow the process, at least all options are open for you.

@Allan Smith

I know friends that keep the sliding door open to cool the patio. Some people do not care about the expense. As for renters, make them pay for the electric, then they start to care.

@April C.

I have brought several properties without an agent. I have an attorney I use and he is able to cross the t's and dot the i's.