All Forum Posts by: Kendall T.

Lots of great info in all these comments.  This is one of the reasons bigger pockets is so great.  

I really feel that if a potential tenant is rude to you before they move in, it will only get worse  later.

my water heater didn't last nearly 15 yrs in my personal home.  What I was referring to was buying a rental with a pre existing water heater.  If it is more than a couple of years old I personally would like to have peace of mind knowing that it will last, and replacing is easy for me as I am pretty handy. I also put a brand new washer, and brand new Ac units.  I could of gone with used, but taking care of the tenants is extremely important to me.  I would like there time with me to go as smoothly as possible.

 When I was a tenant, I had a landlord who had 2 houses on the same property, the other tenant told her the dryer was tearing holes in the clothes, we also needed a dryer, so she takes the other tenants dryer that is tearing holes in the clothes and installs it in our house.  We really didn't feel taken care of.  

I would rather not deal with service calls, for me personally I can do  use used stuff, but there can be a aggravation factor, and I don't want my tenants to deal with it.

Plant fruit trees/plants in all rental properties, allow tenants to have half the fruit.  

This allows your property to increase in value without you having to pay higher property taxes.  

Once trees are mature you can wholesale half the fruit to a vendor for added income.  

Also gives you a market niche,as tenants will get hundreds of $ in free fruit by renting from you.  

Offer a discount of half off on next to the last months rent if they pay on time every time, (you should of already collected first last and security) and you can do a walk thru of house and yard ( this gives a powerful incentive for them to be good renters and make the landlord experience more enjoyable)

Put vinyl flooring in as it is waterproof, ( unless you really like tile, then do the same type of tile in all rentals and always keep a spare box on hand.

Paint all rentals the same color, so you always know what paint color to use.

If water heater is more than 2 yrs old then just go ahead and replace with a new one, sell the old one on Craigslist and you don't get the 2 am call that water heater is flooding

After rent is collected in dec, then hand them a card with 50.00 inside(if they have been great tenants)

And I would have to say one of the best landlord hacks I know is to really care about the tenants and treat them with respect, and you will be much more likely to receive it back

also keep in mind that most people if not every person in the world has some committed some type of crime.  A background check only filters the people who got caught.

Many people are suffering today from a wrong and immature choice they made when they were younger.  People do change.  I personally would be extremely skeptical of someone who tries to act like mr or mrs perfect just because they have a clean background check.  For my rental area I rented to someone with a bad record and they were grateful to me and have been extremely great tenants always paying on time or before.  These people also put money into my house making it nicer such as mulch and grass seed. 

I also use a rewards system with the rent

Rent 650 per mth

Rent paid on time or 30 days ahead=625

31 days ahead =575

If paid a yr ahead 1000 off

If I can do a walk thou of house and yard and all rent has been paid on time then dec rent is 300(dec is usually the hardest financial time for low income tenants who count on the tax refund check)

I also was generous and gave them approx 2 weeks for free when they moved in

 I know someone who is a felon and has found it really to find someone who will rent to him because of his background, this same person is a great tenant and brings in approx 140k a yr, he has turned his life around after he went to jail, and is now a Christian with a wife and child.  If you use caution you could have a market niche by renting to someone with a blemished record.

you could have a bank check overnight mailed to you, so funds are guaranteed, and make her sign the contract that rent is non refundable, also you could talk to her current landlord (just want to check that the landlord is the actual owner of the house,(property appraiser website) and then you could put the phone number in google to make sure the actual landlords name matches the phone number.  

Another thing is to make sure it has a clear title.  Title insurance is important.  If I had a house to buy for 6k though I would want buy it

I think if you buy and hold it could be good for a rental.  Fix up will cost a lot though, unless you are handy.

 Another option would be letting a reliable handyman/ contractor live there rent free with the stipulation that certain things be fixed up( this option would require expectations to be written down between both parties, and figuring out who is paying for materials.

Another option that comes to mind is to owner finance the land for say 1k down with payments of 300? Per month.  If they quit making payments you could stil resell or hold, buy they most likely would of done work that you would get to keep.  A lot of people don't want to rent, they want to own, but they don't have good credit. So qualifying for a mortgage is hard for them, and this option would help them and you out.

Really good job, thank you foe showing us what your deal was, and putting the numbers and pics out there.

Hi, welcome to BP.  I would recommend on listening to podcasts, and just take action

If it is a long term buy and hold, I would recommend on putting primer on it.  It is better to do it right right the first time.  You will fell feel better when it Is done right