All Forum Posts by: Toney NA

Reading through some of the other threads, I just saw a new one I never thought about - High Speed Internet. Although it could become a costly expense, I think potential and current tenants would respond very positively to free high-speed access. I guess you figure around $50/month (less for others), just another write-off.

Other incentives I've heard people use do include new a/c units, fans, and upgrades in hardware like towel bars and the like.

I hope we can revitalize this thread and hear about other new ones like the fast internet. :groovy:

Jeff, what would the hotel vacancies and seasons have to do with the final piece of the puzzle, a condo complex?

It seems as though that information would be irrelevant if you're converting a hotel into a condo, no?

Hey Ranji! Glad you made it here to Biggerpockets. What kind of company do you have? Is it real estate related?

We love people who get involved in the discussion, and would welcome your input.

Despite your inexperience, you're ahead of many of the people here. How is operating your rental property going? Have you learned a lot being a landlord?

The "Game" can be learned and you're at the place to do it! Good luck with you real estate.

What kind of engineer are you, BTW?

Hi AL. You are at the right place to learn about real estate. While working on your degree, I definately recommend taking real estate classes, especially real estate finance. It is a class you will find invaluable! Otherwise, the people at Biggerpockets are really helpful and are quite supportive. Best of luck with school, and ask away.

Problem is that the laws are different in different states. That's a good reference, but we need to know what state you're talking about.

There is a great feed that should help you learn more about management companies . . .

http://forums.biggerpockets.com/viewtopic.php?t=1187

This should take care of most of your questions.

If you're pricing above market rents to cover your mortgage, you'll have a tough time getting tenants, no matter what time of year you're in. I hate to say it, but that is something you should have considered before picking up the property. That said, what are similar properties going for in the area? You're charging $1695 - where is everyone else?????

Last thing - when looking at properties in the future, consider using the property analysis tool they've got here. It will help determine whether you can afford to support a property given certain financial restrictions (rents / mortgage, etc.) The link is http://www.biggerpockets.com/recritic.html

Winter is a really tough time to find tenants. What incentives have you offered? Are you below other rents in the area? Offering things like free first month's rent is usually a good ploy.

Sorry - can't help you out. I'd like to know where we can find such data on any city.