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All Forum Posts by: Dave Spooner

Dave Spooner has started 21 posts and replied 812 times.

Post: Podcast Survey! Chance to win $500 gift card!

Dave Spooner
Posted
  • Rental Property Investor
  • Cincinnati, OH
  • Posts 862
  • Votes 821

Just done! 

Post: Do I need eviction notice?

Dave Spooner
Posted
  • Rental Property Investor
  • Cincinnati, OH
  • Posts 862
  • Votes 821

I would get an eviction attorney involved in this. You've already spoken to them and they still haven't obliged plus haven't paid rent. 

Post: Starting a Property Management Company

Dave Spooner
Posted
  • Rental Property Investor
  • Cincinnati, OH
  • Posts 862
  • Votes 821

I would also like to add joining your local REIA association. They have tons of resources that could help you get jumpstarted. I agree with Nathan, books, and podcasts can only do so much.

Post: Renting to 18 year olds

Dave Spooner
Posted
  • Rental Property Investor
  • Cincinnati, OH
  • Posts 862
  • Votes 821
Quote from @Ken Boone:

As a rule we don't rent to anyone under 25, however, we have made exceptions which included some 18 year olds for a stay.  The times I have made exceptions, the potential guests saw the rules and contacted us and communicated with us directly.  The times we felt like we were dealing with mature and responsible people we allowed them to book.  If we didn't get that feeling then we would stick with the rules.  So the times we allowed it, we have never had any issues.  I think you just have to be careful and vet them out through conversation.  Maturity and responsibility do not all of the sudden start with a magic age unfortunately.  


 Yeah I agree with this. 

Post: Look at a Tenant's car when choosing applicants...

Dave Spooner
Posted
  • Rental Property Investor
  • Cincinnati, OH
  • Posts 862
  • Votes 821
Quote from @Nathan Gesner:
Quote from @Alan Asriants:

Their car and behavior may present some red flags, but you should never approve or deny someone based on the condition of their car, their ability to maintain eye contact, or the firmness of their handshake. What if you reject someone for a dirty car and it turns out she's a hard-working single mom that doesn't have time or energy to maintain her car because she works her tail off to pay bills and spend time raising her kids right? 

You're subjective discrimination is likely to get you into hot water with Fair Housing. Your approval or denial should be based on objective criteria that identifies the level of risk a potential renter poses to your property, income, time, or sanity.


 I full agree with this.

Post: What are reasonable bathroom remodeling costs?

Dave Spooner
Posted
  • Rental Property Investor
  • Cincinnati, OH
  • Posts 862
  • Votes 821

The more bids the better. From a knee-jerk response, like most in here, something around 5k-7k makes sense.

Post: What are good interior paint colors for a short term rental ?

Dave Spooner
Posted
  • Rental Property Investor
  • Cincinnati, OH
  • Posts 862
  • Votes 821

Yup like most in here sticking with light cream colors is the way to go!

Post: Tenant refusing to pay share of DWP utilities...

Dave Spooner
Posted
  • Rental Property Investor
  • Cincinnati, OH
  • Posts 862
  • Votes 821

I would evict for non-payment. I'm not sure how this hasn't happened yet.  

Post: Book/Pod Cast Recommendations?!

Dave Spooner
Posted
  • Rental Property Investor
  • Cincinnati, OH
  • Posts 862
  • Votes 821

These are some books and podcasts that have been very influential for me:

- Rich Dad, Poor Dad by Robert Kiyosaki

- How to Invest in Real Estate by Joshua Dorkin

- Building Wealth One House at a Time by John Schaub

- I recently was on a podcast called, Reslient REI with Dan Miklosz

- Real Estate Today podcast with Stephen Gasque, Melissa Dittman Tracey, Bill Thompson

Hope this helps!

Post: A.I. Artificial Intelligence

Dave Spooner
Posted
  • Rental Property Investor
  • Cincinnati, OH
  • Posts 862
  • Votes 821

ChatGPT is definitely the latest craze, understandably so. Some of my team members use it to formulate outbound emails. It's a good way to quickly get a structure of content organized. I wouldn't suggest it word for word but as a good foundation for whatever you're looking to write. I've seen other companies use it to write listings and even answer basic customer questions.