All Forum Posts by: Joshua D.

I live in pa so this is a bad month for us with late payment. I usually txt the tenant saying property management said your late and whats your plans on the 2nd. How to handle? Or do you just put a notice to pay or quit on the 4th 5th or 10th and give couple days and not say anything and just slap notice to quit on door. Whats the best way to handle this? We email to but u know not everyone checks emails. We have 20 units and wanna grow to 100 most sfh’s. Also in are lease we dont have to file a notice to quit. Any help would be greatly appreciated on how to handle this?

When do you decide to sell or rent your property? I went over my portfolio with a friend that is a big business mens accountant around the area. Hes also into real estate and had him look over my portfolio and numbers and debt stuff. He said dont sell unless you need to?

I will post are website url on bottom of page. But how we have it set up, how does it look with the steps with everything? We have been doing awhile and has worked but lately has seemed that to charge people $35 to look at property have been a turn off and they dont wanna pay to just look. But in book on rental properties they do it and other companies do and has helped us mostly because so many people would schedule to see the property and never show up. Just seems lately has been the deal breaker with so many people. But i think its also the time of year where we are at. So we post on all real estate websites and then most of time forward to are site to apply and what not. Any Tips or suggestions would be greatly appreciated.

www.werenthousesfayettecounty.com

So for anyone doing are work or are full time maitnenece guy. He does the work and bills us after the job is done. Should i have him bid it out and then have him do it. OR whats the best way to do this? I would like fast turn around on properties and what not. Would be nice to give people incentives to get projects done faster. Any suggestions?

What do you think the average net worth for a retired person is? How much do you think for ages 20-30,30-40,40-50,50-60,60-70 ?

@Joshua D. Bump

How do you go about doing inspections? Do you email the tenant to notify, and if so, what is the language that you use? We have several tenants who have junk outside the house, which makes me think they likely aren’t taking care of the inside of the house. What is your process for scheduling and carrying out your inspections? We don’t want to disturb our good tenants, but recognize the need for inspections. Thank you!

@John Leavelle

Yes im working on getting a line of credit off the property now or paying my heloc off and turning this into a new one being the old was was 75k the heloc is a different bank then the lines of credit i usually get my lines of credit from. Im gonna see who will give me the best terms. What do you think?

@Joseph Lopez

Me and my wifes goals are rentals and to take advantage of the cashflow and refinance and keep that ball rolling. Hoping for appreciation. Taking advantage of the depreciation tax right off and and all the advantages of rental properties. 

@John Leavelle

I used my open line of credit off of previous properties. My closing costs was in the numbers and 15 year with balloon payment and can take that out another 5 years if i want to. My bank i deal with doesnt offer 30 year amortization. I pay myself a little but put right back into business.

No I do not need to do repairs to get to that arv. But my bank is saying they would only give me 120k or 100k back out of it. They have a new way of calculating numbers for it now for it to be a rental. Whats the best way to approach this? usually i get 80% of the LTV with lines of credit. But for some reason they changed stuff recently.