Selling (1031 exchanging) our high equity family owned properties is the best (really only) option that we have for funding our share of new purchases right now and with each new purchase, we are buying nicer and usually larger units in better neighborhoods so I'm trying to improve the quality of our family owned holdings in addition to growing a new business with our new partner.

As a newbie here, my greatest challenge is consistent, reliable, high quality, detail-oriented cleaning.

Just a lot of systems, paperwork organization, and staying abreast of/within the law (required notices, addendums, etc.).3) The screening criteria we use:650 credit score or aboveIncome 3x the monthly rentNo pets (depending on the property)No smokingNo evictions, notices to comply, or money owed to landlords in the past 12 monthsProof of income and financial responsibilityAdditional:First, last, and security deposit due at signing750+ credit score does not require last month rent (helps incentivize quality tenants)Best of luck!

Regular inspections and making sure the property looks great not only helps with tenant retention but also attract quality renters.What about you?

That is a good point, and you might have better luck if renters are able to see the quality of landlord they are going to rent from.

What Qualities Should You Look for in a Borrower Before Offering Private Money Loans?

They are all quality tenants making at least 15k a month and seem very enthusiastic because the unit is fully upgraded with high end finishes and appliances with private garage and backyard.

@Joseph BaenaRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

Plus, you’re often dealing with a lower-quality tenant base, which means more maintenance issues.It’s not for everyone, but if you’re looking for consistent rent and less turnover, it could be worth considering.

Why is quantity better than quality?