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16 January 2025 | 13 replies
Bingo: you will get to see all your competitors, their pictures, their amenities, their descriptions and their PRICING.
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1 February 2025 | 21 replies
(we charge the same Processing Fee as depositing to our bank)4) Pay online using their tenant portal (we absorb the small fee, to encourage this behavior as the internal resources saved more than cover that fee)We understand we have scales of efficiency a DIY landlord won't.
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20 January 2025 | 0 replies
My business partner and I financed the deal for 1272 Lakins Rd entirely with cash, covering both the purchase and all renovation costs.
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16 January 2025 | 8 replies
Ask for its breed, weight, and name, and have them attach a picture.- Make the application part of the lease, with the stipulation that if they've lied in the application or in the lease, they can be evicted.- Tell them they have to provide documentation of the animals service / emotional support (as allowed by your local ordinances), and that they have to provide documentation that the animal is current with its inoculations, etc. as well as its local license before you'll permit the animal in the unit.- Tell them they'll have to provide you with a copy of their renter's insurance naming you as additional named insured, with a minimum of (I use $300,000) liability insurance, also before they move into the unit.It's not perfect, but it's a start toward a tenant transparency.
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16 January 2025 | 7 replies
You are LOSING money because you didn't even raise rents to cover those increases!
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7 January 2025 | 22 replies
At this point, I would recommend having a line of credit to cover these things so you don't have money sitting in the bank doing nothing when it could be put to work.I have 33 units, no debt except for mortgages, and excellent income.
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20 January 2025 | 22 replies
Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.
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21 January 2025 | 11 replies
I would also look at the full picture.
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31 January 2025 | 10 replies
Hey Sean, Thanks so much every day is a day closer to it happening while covering the investment as much as i can.
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27 January 2025 | 35 replies
They are even working on getting me the evicted tenant's security deposit, the missing JANUARY rent since the place is still empty, and covering the cost of my own manager re-listing the property.