Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime

Let's keep in touch

Subscribe to our newsletter for timely insights and actionable tips on your real estate journey.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions
×
Try Pro Features for Free
Start your 7 day free trial. Pick markets, find deals, analyze and manage properties.
Followed Discussions Followed Categories Followed People Followed Locations
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Adam Moehn

Adam Moehn has started 14 posts and replied 142 times.

Post: Only 1 year of address history

Adam MoehnPosted
  • Investor
  • Cedar Rapids, IA
  • Posts 143
  • Votes 29

I had an applicant look at my house for rent and applied on the spot. He had a friend with him that spoke better english that actually filled out the application. He said he moved to the US a few years ago but only had 1 year of rental history on the application. I tried to get him to fill in more address history but he kept telling me he lived with family the first couple years in the US but didn't know the address. I eventually gave up trying to convince him he needed more address history and just took the application as is.

Seems odd to not know where you lived. Would you deny an application over this?

Post: My First Successful Deal!

Adam MoehnPosted
  • Investor
  • Cedar Rapids, IA
  • Posts 143
  • Votes 29

Congrats Thomas. I just recently bought my first rental in Cedar Rapids.

Post: Trying to rent out my first rental

Adam MoehnPosted
  • Investor
  • Cedar Rapids, IA
  • Posts 143
  • Votes 29
Originally posted by @Account Closed:
@Kevin Fletcher,

For ever landlord that charge a application fee there are 100 that don't.

Joe Gore

Really? I was a renter in the recent past and I recall most places wanting an application fee. And some of the people looking at my house have asked what the application fee is as if they were expecting there to be one.

Post: Trying to rent out my first rental

Adam MoehnPosted
  • Investor
  • Cedar Rapids, IA
  • Posts 143
  • Votes 29
Originally posted by @Aaron Montague:
@Adam Moehn

How long is your application? Can they fill it out on the spot? Do you charge a fee for the application?

Make the rental process easy for the prospective tenants.

Get a phone number, ssn, work number and current landlords name. Ask them if they'd like to move in. If you'd like them to move in, take a deposit and filled out application on the spot.

Always find a way to get the contact information, minimally a phone number.

My application is 3 pages with a $20 fee per person. Application fees seem to run about $20-$35 around here so it's on the low end. I haven't tried asking anyone to fill it out on the spot. We at least have phone numbers for all of them though from when they contacted us to set up the showings.

Post: Trying to rent out my first rental

Adam MoehnPosted
  • Investor
  • Cedar Rapids, IA
  • Posts 143
  • Votes 29
Originally posted by @Kevin Fletcher:
@Adam Moehn Potential tenants definitely give me the run around every time that I'm trying to rent my units. Many times they are no-shows for appointments, wasting time and energy. Even the tenants who take an applications seem to follow up only half of the time. If you ask anyone on bigger pocket what the problem is, 9 out of 10 will say you probably need to lower the rent in this situation. I typically wait for for a few weeks before I settle on lowering the rent, but the market generally dictates what you can rent it for. The fact that you have had 8 people contact you in 5 weeks probably means the rent is too high. A simple "For Rent" sign outside of my apartments tend to give me upwards of 6-10 calls a day (Its in a desirable area). You need to do something to advertise more the unit for rent. A good way (not Perfect) to know is by using www.rentometer.com to see if your current rates are competitive.

Oops, I actually started advertising April 1st, not March. That's what I get for having a day job where I'm always doing reporting for the month prior. A yard sign would probably be a good idea, I should get one.

Post: Trying to rent out my first rental

Adam MoehnPosted
  • Investor
  • Cedar Rapids, IA
  • Posts 143
  • Votes 29

I recently bought my first rental property, did some renovations, and now I'm trying to rent it out.

We started advertising March 1st on Craigslist and Postlets. We’ve had 8 people contact us, five of which we’ve done showings for. All seemed interested and took applications. But we haven’t gotten any applications returned yet. We also haven't had any new leads contact us for almost a week.

I guess I’m not sure what to be expecting since this is my first time trying to rent out a place. Is this amount of activity good or not enough? Is it normal for people to take a while to return applications, or is the fact that none have been returned yet an indication that the rent is overpriced or the house has something wrong that tenants don't like? There are plenty of photos in the ads so they should have known what to be expecting when they looked at the place.

Post: New member from Des Moines, Iowa !!

Adam MoehnPosted
  • Investor
  • Cedar Rapids, IA
  • Posts 143
  • Votes 29

Welcome Kelli! I'm in the cedar rapids area and recently bought my first rental property.

Post: Possibly my FIRST rental!

Adam MoehnPosted
  • Investor
  • Cedar Rapids, IA
  • Posts 143
  • Votes 29

Congrats Derek! I'm in the same boat as you. I just bought my first rental property in Cedar Rapids.

Post: Do you test for radon?

Adam MoehnPosted
  • Investor
  • Cedar Rapids, IA
  • Posts 143
  • Votes 29

Do you test for radon when doing an inspection on a house? Why or why not?

I'm in Iowa which has high radon levels. The required paperwork they give you on radon when you buy a house here says that 50%-70% of houses in Iowa have elevated levels. So if elevate radon is "normal" here, then is it really worth bothering to check?

Originally posted by @Bill Gulley:
Adam, okay, you're getting a conventional loan, for your OO dwelling. :)

No I won't live in it. It's for a 1-4 unit rental property.