All Forum Posts by: Brett Denner
Brett Denner has started 1 posts and replied 4 times.
Post: Cash flow minimum on SFH
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If you understand your market this question kinda answers itself.
If an average deal in your market would cash flow $200 then you are doing well at $247. If an average deal in your market would cash flow $300 then you may want to reconsider.
Post: Having trouble finding tenants to complete my House Hack
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Originally posted by @James Beckman:
First off, congratulations! Good advice from replies on here (TIL about listing rentals with RE agents - very neat! thank you @Abel Curiel). Nice pictures on your posting, they give a good feel for the townhome and are good quality.
After reading your post, I think I can see why you've had a few showings but no bites. Try rereading it from a tenant's perspective or get a neighbor/coworker/stranger at a coffee shop to read it and give feedback. I've written a number of storage rental listings and I've had the best success when I can clearly state my offer, my expectations, and a clear path to initiate for anyone that is interested.
For example, in the title you state a private room, but in the body it sounds like I'm renting the whole space (it makes good copy for a VRBO). Make it clear that they will have a private room with shared kitchen and common space. As a tenant, give me information upfront - what size is each room? are pets allowed? how long are the lease terms? is there additional storage space (maybe for a fee)?
Offer some details about yourself! You may be entering into a close relationship with the reader, so be honest and open from the start. How much are you around? What are some interests? Do you have any dealbreakers that you want to state upfront?
The expectations are negatives (deposit, credit check, etc.), so bundle them into one and don't equivocate - these are criteria you are not willing to negotiate, so word it clearly and concisely. Instead of:
Potential tenants must be okay with a small, routine application which
check. Additionally, a security deposit will be required.
Try:
I hope this has come across as positive. You have a nice place and you are headed in the right direction - congratulations on leaping. Keep in mind that your time is valuable, and so is the person's reading your post. When you can clearly state your offer, your expectations, and a path to initiate, the candidates that contact you will be higher caliber and more likely to become good tenants. Cheers!
This is awesome feedback, thanks for diving into the listing to tailor your recommendations.
I think you are right about the disconnect between how my listing reads and what the people I've talked to/showed the place to are expecting. After work, I'll take another stab at making expectations clearer.
Post: Getting out of a 12 yr lease in Colorado
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Hi @Mindy Jensenundefined
That makes sense and good pointer to keep it notes. I've initiated an email chain where he replied and said that the plan works for him. Hopefully, it does. But at least now it's in writing, not only verbal.
As for why I'm breaking the lease, several reasons, without going into details.
1. Job issues + expensive lease = shaky situation
2. Family issues (they are out of state as well)
3. Financial reasons, related to 1 + 2 as well as my desire to house hack.
Post: Getting out of a 12 yr lease in Colorado
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Hi, thanks in advance for responding.
I'm currently in month 3 of a 12-month lease and would like to get out of it, however, my lease agreement is extremely short and says nothing regarding how to get out of the lease, only penalties for breaking it.
I've informed my landlord that I'd like to transfer the lease and am willing to help, he verbally agreed and mentioned he would put up + handle the listing. It's been a month and there is no listing up. I've asked multiple times how it's going and he's said that couple people have applied but all were poor candidates. Not sure how to best deal with this passive-aggressive, lying landlord.
I know that in the case of breaking the lease he is responsible for attempting to re-lease. If I take this one step further, provide a 60 day notice, market the property myself, offer to give up my security deposit and supply him with candidates would that cover my a$$?