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24 April 2020 | 1 reply
I wanted to share some of the tactics that have helped us collect over 99% of rents, and would love what you have done to increase collections, so we can all learn from one another.Here it is:- early birds discounts of $50 per month (if someone paid rents in March for April, they received a $50 discount)- flex payment plan - tenants who lost their jobs can make partial payment and the rest of the unpaid rent is amortized over the life of the lease- sharing valuable information with our tenants re the PPP/EIDL loans for small business owners and independent contractors, nearby charities that provide food and necessities, information on unemployment applications, local businesses that are hiring right now, etc.- Walmart gift cards for tenants who have lost their jobs- switching to Rhino to allow tenants use their security deposits to pay rent in exchange of singing on a rental insurance ($5-$10/month)- keep an honest and open line of communications with our tenants, and letting them know we are there for them.How did you handle rent collections?
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26 April 2020 | 9 replies
That could definitely be an issue, though, as 5 bedrooms is a TON of space and a 4-bedroom would get most traditional families through.Thank you so much for reviewing the analysis and the food for thought!
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1 May 2020 | 63 replies
I don't see the food market rushing to have sales at 50% OFF....how about PPE discounts, more like tripled in cost?
27 April 2020 | 7 replies
I used Kaplan and it came with books and online (the package I bought) I was still working a separate full time job at the time.
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27 April 2020 | 3 replies
However, if what you say is accurate on your interest rate's and you have a good LTV then I don't see why you shouldn't try to get a package refinance and save yourself some serious interest and/or pull a little capital out to purchase more.
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29 April 2020 | 8 replies
After all, housing is probably the 2nd most important bill to pay (behind food).
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2 May 2020 | 4 replies
We think we have a site plan, which was provided to us by the City of Atlanta Department of Watershed Management as part of a package of documents they gave us about the project.
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28 April 2020 | 4 replies
There were Lysol wipes for my hands before I entered my thumb print on the notary book.With my package of mortgage docs, I had to walk past the first UPS store that was closest to my home because the line was a street block long and the 2nd UPS store had 3 people in front of me.Rental property number 2 has closed today, the downpayment is wired, and it is now time to get my first major rehab project moving forward in Ohio w/ contractors scheduled to work on fixer upper property to make this rent ready for new tenants.
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29 April 2020 | 5 replies
I offer on the property myself, do all the inspections (and then disclose them all in a package with all repairs), close the deal, clean it, prep it, maybe lipstick a little, and then put it on the market with a 50-page PDF that has everything in it.
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28 April 2020 | 3 replies
Private Garage available for tenants.Location: Downtown Springfield, OH - Wittenberg College (1.1 miles), hospitals, restaurants close byFinancials: broken down on page 8 of package and in following section.Plan: Classic BRRRR method.