All Forum Posts by: Tyler Kaye

@Dan Perrott the timestamp is a good idea and protects you and the tenant.  

I like that idea.  Thank you for the insights @David Zheng.

@David Zheng I could see that working for some things.  Did you have any trouble with late messages?  Was it easy to keep it organized?

@John Warren my idea is based on a mobile application to connect those handymen and contractors with landlords that want to create a network of communication.  I started considering the idea when I had so much trouble finding good contractors and handymen for a property of mine.  I ended up making it work after a really long time and it delayed a project for me by about three months.  Because I had such a hard time finding good people, I thought about how that could apply to tenants notifying landlords of problems or the landlord communicating needs to tenants or contractors.  If you would like, I can send you more information on my idea.  I would appreciate some input from those who have more experience and time as a landlord than I.

Thank you @Nathan Gesner and @John Warren for the responses.  I ask because I have a few ideas for a product to help with tenant communication and work request deliveries.  I am trying to get a feel for the preferred communication lines and what is being used by low to mid-level real estate investors in terms of number of units managed.

Do either of you use any specific software or applications beyond Google Hangouts?

@Daniel Soyars I think that it can be done and it is a valid idea.  I also think that an incremental approach, or modular development, to the idea would reduce risk and help to build the track record @Alina Trigub is referring to.  I am thinking in the Lean Startup mentality in that aspect.  Although, there is going to be a large amount of capital required to get started depending on how large of a project you are looking to kick it off with.

@Daniel Soyars there are many different ways an association is structured.  They aren't all bad and it really depends on who is running them and how well they are managed.  Anyways, I like that kind of idea and it could be included in the rent of the units, and those units would have access to those spaces.  Furthermore, those management functions could be part of the management company associated with that property.  I think it really depends on how you put it together.

@Daniel Soyars that sounds kind of like an HOA. What would the difference be, other than you and your wife owning the duplexes as well? Thinking from a value perspective, what value would you create for that premium that is the same or above that of an owner's association? I think that in certain areas that could be done without being structured as an HOA. However, it would probably require some kind of membership structure to function properly.

I am curious what the trend is and what works best for those of you who are already a landlord.  For those of you who have been a landlord for some time, what did you wish you had to communicate with tenants specifically for maintenance issues or lines of communication tenants try to open?  For those that haven't been doing this for that long, what do you think is the most efficient means of organizing communications from tenants and how do you transpose maintenance issues to those who are going to be tasked with the repairs?

I am interested in creating a sustainable business and building an efficient team.  My only concern for markets is that the market is sustainable and that it makes sense.  I have a lot of ideas.  Perhaps we can talk some more if you are interested @Daniel Soyars

I had tried to do this in my market about four years ago.  Zoning changes prevented us from making it happen, but my plan at the time was to build, get the units rented, maintain and show positive cash flow for one year or greater and then refinance conventionally to get the cash out, and interest, for the capital investor.