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All Forum Posts by: Account Closed

Account Closed has started 8 posts and replied 94 times.

Post: Marketing Your Rental

Account ClosedPosted
  • Rental Property Investor
  • New Castle, DE
  • Posts 95
  • Votes 102

I'm closing on my first rental property soon in Wilmington DE and I was wondering what you guys do to market them. Did you just let your property management company handle it and go from there or where you more hands on? I have a camera setup with tripod so I can take bracketed shots inside the house so the pictures will be taken care of. 

I would like to be more hands on my first rental so any and all advice would be appreciated.

Thank You 

Post: Filling Vacant Rental Properties

Account ClosedPosted
  • Rental Property Investor
  • New Castle, DE
  • Posts 95
  • Votes 102

@Kristin Caras let me know if you need help taking pictures. Wouldn't mind helping someone whos local with quality pics. 

Post: Newbie from Wilmington, DE

Account ClosedPosted
  • Rental Property Investor
  • New Castle, DE
  • Posts 95
  • Votes 102

Welcome @Aaron Goode. Also from UD, good luck and looking forward to hearing about your journey. 

Post: Section 8 Inspections

Account ClosedPosted
  • Rental Property Investor
  • New Castle, DE
  • Posts 95
  • Votes 102
Originally posted by @Patti Robertson:

The HUD inspection checklist is hard for a newbie SEC 8 landlord/PM to use because it doesn't really say what would make an item pass. You'd have to go back and forth between that and housing code. Here is a simple checklist my office uses to give to new contractors when they are getting a property ready for a SEC 8 inspection. We manage over 100 SEC 8 properties and our goal is to always pass inspection the first time. On 100+ year old houses it seems hard to. The inspector always finds something. On houses not 100+ years old it is pretty easy to pass the first time if you follow this checklist and don't just hope the inspector misses the few things you didn't get to. ;)

Good luck!  It is worth the little effort to get the house ready.  Really these are mostly safety and habitability issues that you would want right for any tenant.  The lease length for a good SEC 8 tenant is worth the little bit of paperwork and inspection hassle you go through in my opinion. 

Sounds like you will be renovating this property upon purchase.  One tip is to to forget about carpet.  Most SEC 8 landlords are converting to the luxury vinyl planks - you can get it for as little as $1.39/SF at Floors and More if you have that brand in your market.  It is far more durable than either carpet or wood laminate products.

I wrote a blog about SEC 8 if you want to take a look.

https://www.biggerpockets.com/blogs/9232/blog_posts/55313-intro-to-section-8---your-perceptions-vs-my-realities

 The list and your article we're extremely helpful. Just reached out to my contractor and might give him this list to use as a guide. Thanks for the help. 

Post: Section 8 Inspections

Account ClosedPosted
  • Rental Property Investor
  • New Castle, DE
  • Posts 95
  • Votes 102

Thank You both

Post: Section 8 Inspections

Account ClosedPosted
  • Rental Property Investor
  • New Castle, DE
  • Posts 95
  • Votes 102

Currently closing on a property in Wilmington and I wanted to know if anyone had any experience with Section 8 inspections. Were you able to pass the first time? Anything you wish you knew before going with the inspection?

Anything could help. Should be closing in a month and want to move forward renovating as much as I can right away. 

Post: Evaluating tenant applications and deciding

Account ClosedPosted
  • Rental Property Investor
  • New Castle, DE
  • Posts 95
  • Votes 102

@James MasottiI'd imagine the tenant pool In Compton Village, Wilmington is much different than Hockessin. In that case you want to tailor your tenant evaluations to the people who are applying. Especially if you're doing Section 8 rentals. You can still use certain kind of software even if the tenant pool is not excellent. 

Post: Evaluating tenant applications and deciding

Account ClosedPosted
  • Rental Property Investor
  • New Castle, DE
  • Posts 95
  • Votes 102

What part of Delaware? This makes a huge difference in how you screen. 

Post: Investing In Salem, NJ

Account ClosedPosted
  • Rental Property Investor
  • New Castle, DE
  • Posts 95
  • Votes 102

Hello All,

I'm not in NJ but located pretty close (Delaware). I was curious why there's no discussion around Salem. Is it in a flood zone? High crime? Low population? Again any new information would help, thank you. 

Post: Contracters in the Wilmington Delaware area

Account ClosedPosted
  • Rental Property Investor
  • New Castle, DE
  • Posts 95
  • Votes 102

Thank you @Cassandra Sifford