All Forum Posts by: Austin Farsai

Quote from @Ryan Thomson:

Also here are some efficiency hacks I try to do when screening tenants: 

I have had a ton of luck with apartments.com (they bought Cozy). I list my rooms for rent here and then they put the listing on several of their affiliate sites. I get a couple interested leads a day.

Apartments.com is also where I have tenants fill out a background and credit check, set up automated rent payments, and upload renter's insurance. It's pretty sweet and free for me.

I also have some nice auto messages I use to do the initial "screen" to save my time from the tire kickers and the "is it still available" annoyers.

Here is my first message:

Yes it is! We require a 550+ credit score as well as a current job paystub or a co-signer who meets these requirements. The move in date is December 7th and is a month to month lease at $650/month (not including 50-70 a month for utilities). If all that works for you, when is a good time you can see the house? and what is a good number to reach you?

Here is my second message:

I have a couple questions for you to make sure its a good fit for you. Please answer these then we can go from there: What is your Job? Only you? Pets? Move in date? Estimated length of stay? Any questions for me? --

Sometimes my first message (if they seem more serious and put a little effort into their first response):

I saw your inquiry for my house at {{address}}. It is still available. Would you like to set up a time to see it? Than I go through those two messages above.

Tips:

1. great photos

2. good description. be clear what you require to cut down on wasting your time.

3. Pre-screen with email or text before you waste your time showing the room

 Awesome thank you, I’ll have to incorporate this I appreciate it! 

Hello everyone, I just purchased a property with an already built permitted Adu and was going to rehab and renew the inside of the Adu before renting out. I just wanted to get any insight on how to properly rent this unit out. I currently am looking at getting my landlord insurance and already have homeowners' insurance as well. This is my first and only property so far and was wondering what else I should cover myself with and or do before officially renting out. I was going to use the software rent Redi for the application and background check process, I will most likely manage it myself and or get a handyman that I've known for a while to come through on anything that I can't do myself. I am also testing the waters with this by living in the front house and this being in its own separate unit and if it all goes well, I will be able to do a jradu on the same property and rent out both of those until I remodel the front house and rent out all three and purchase another property. Anything and everything will help thank you.

Hello everyone, I just purchased a property with an already built permitted Adu and was going to rehab and renew the inside of the Adu before renting out. I just wanted to get any insight on how to properly rent this unit out. I currently am looking at getting my landlord insurance and already have homeowners' insurance as well. This is my first and only property so far and was wondering what else I should cover myself with and or do before officially renting out. I was going to use the software rent Redi for the application and background check process, I will most likely manage it myself and or get a handyman that I've known for a while to come through on anything that I can't do myself. I am also testing the waters with this by living in the front house and this being in its own separate unit and if it all goes well, I will be able to do a jradu on the same property and rent out both of those until I remodel the front house and rent out all three and purchase another property.  Anything and everything will help thank you. 

Hey Lisa I am picking the investor route as well and when you ask if mentorship is beneficial it for sure is you just have to do your du diligence on the right mentor. Its well worth it when you can join that mentorships community and network as well because you will get advice from others in that mentorship that overcame challenges that might be similar to yours. Hope that helps!

Hey everyone so I am a first time home buyer and found a great deal as well as an adu attached zoned for more on about 7k sqft lot. I am looking at the property and seems to not have different metering devices. So for now I was going to househack this until I can build more units and add different metering units for water, electrical etc. As for now would I add that to rents apart of "utilities" and how has anyone ran background checks on tenants, and what software, app or other things are you using to have tenants pay rent etc. please help any feedback works. 

Quote from @Joshua Janus:

Hey @Austin Farsai what have you learned so far? Have you read some books or reached out to anyone on BiggerPockets? I am sure there are local investors that would mentor you to some degree. What are your goals and what are you looking to do?

Hey Joshua! so far I have learned the basics of constructing a deal etc finding the 2% rules all that but i'm wondering how much of those rules are written in stone etc. I have read a few books on investing, out of state an constructing your team when you out of state invest, finding realtor, contractor, and property manager to help get a deal done. I have reached out to a few but how would you approach a somewhat mentorship? 

Quote from @Eddie Brady:

Hey Austin. Are you looking for connections to help become a Realtor or to start your investing journey?

Hey how are you Eddie? I am actually looking along the lines of seeing a deal go through etc I have started my realtor journey and will hope to master that the more I get around the industry more. I am looking at investing as well and am torn between the fact if i  should I use a realtor for my investment properties or should I just use my own? Thanks anything helps.

Hey guys so I am a newbie and am currently on my way to take my Real estate license exam. Fingers crossed. With that being said I feel like the issues I'm having is not really having anyone close to me to help out and just spitball ideas. I'm not really sure what to do when just starting out. Who should I reach out to first to make some connections with. Any pointers or anything along the lines of starting out would be greatly appreciated. Thank you!

Hello all I am Austin I am a new investor and wholesaler. I am currently looking to wholesale around the Bay Area and valley but also looking to invest out of state for cash flow purposes. I currently work a full time job in the Bay Area and eventually want to buy my first property here to house hack. The reason I am wholesaling and investing out of state is the capital is much lower to get started. I am hoping to get any feedback or opinions on this and would love to connect with other investors or wholesalers in the Bay Area ! Thanks everyone ! 

@Jaideep Balekar hey that’s amazing what a great portfolio! I’m so curious in I’ve been reading and listening about how many doors people get and I’m wondering at what point does the bank stop giving out mortgages? Did you have to pay a certain amount of the houses you did have off before applying for another mortgage on another house ?