All Forum Posts by: Dong Yan

I have never used it before, may I ask my tenant to pay it directly.

Does it also come with the eviction record or only credit check?

Stella

is bigger pocket's tenant screening service good? I plan to use it , is anybody use it before can you let me know the feedback?

Hi John,

Thank you so much for your input. One of the reasons why I give everything else to the property management except the recruiting the tenants this part is usually I prefer to have long-term tenants to reduce the overhead of high turn around rate. Somehow, I usually know the property management company like to go for higher rent rather than long-term since every time if the old tenants move out and move in again they can charge another recruiting fee. 

What are the background check are you do in terms of tenants screening? Share some good tips with me, thanks a lot!

How about the vinyl floor, which one is better laminate or vinyl?

Stella

thanks everyone for your responses.

Do you guys rent it out by yourself or using property management? I have been always rent it out by myself and than transition to the property management.

Shall I just let property management handle from the begining?

Can any of you refer the cash flow calculator? I did calculate the return on investment by using some tools out there but didn't come across the calculator for the cash flow. 

If the floor are all wear out , shall I replace it with vinyl, laminate or carpet?

Thank you again!

Hi Leone,

Do you check zillow?

I also owned a couple of properties in Santa ana, also looking for the accurate rent comps.

Let me know if you find anything else.

Thank you for sharing!

Stella

just acquired a short sale deal , the purchase price is OK but not really cheap. my attention is renting the house out quickly.

Here is one of my biggest questions puzzled me:

Do I need to remodel the house or just fix it up , which will get me better return?

Your opinion is highly appreciated!

Stella 

Great advice!

Thanks! Right , almost forgot the tax implication.I need to consult my CPA for details.

I did realize flip house need to renovate but how about renting house? Are there any estimate tool available here to check how much return can get from renovating the old house?

Thank you!

Very good questions , I checked the market report from my realtor, seems not much information. That's why not sure how to analyze the situation. My standard of remodel is a bit high ( like to go overboard most of the time)therefore I know  I can't get the proper return with the money I invested.

But also worry about not able to rent it out at the target price I am expecting. In my area a kitchen reno will cost around 10K so that may increase rent about 50 bucks per  month , it will take 17 years to get investement return. so it doesn't make sense at all. The flooring is laminate , no tear at all but looks out of dated and dirty not sure need to replace it with tiles or not?

The cost of repair of the cabinets and repaint is 1500, shall I just go with this option then?

Thank you for your advice!

Just bought a 2 bedroom charming house , the cabinets were in bad shape, the floor were laminate , it is OK but super dirty. not sure shall I remodel the kitchen or just repair and polish to rent it out.

Which will give me better return?

Thank you!

Stella