All Forum Posts by: Eric Pierpont

I'm a newbie and currently house hacking but I couldn't agree more with Cody. Lewiston feels like the slowest gentrification possible. It's crazy how quickly you can go from a decent neighborhood with beautiful architecture to crappy apartment buildings which are crumbling into the ground occupied by drug addicts.

I'll be looking for a PM company in the L/A area sooner rather than later. Has anyone here dealt with Schneider Property Management?

I'll be there. Thanks for putting these events together Ivan!

So let's say the rent roll for the property is $3000 and property management is taking 8%. However I'm making $50 in other income. 

Is the 8% property management fee deducted from $3000 or $3050?

I am currently working on my own rental property analysis spreadsheet. I've been looking at working examples out there and it looks like the property management % does not pull from other income such as laundry, vending, parking, etc.

Is this true? It seems like a gray area to me.

It's not on the Gulf Coast but in Maui I had a great time in the town of Kihei. Maui to me feels like the undeveloped version of Florida but with awesome mountains and so much more to do. You can get from sea level to 10,000 feet in a little over an hour in the car, unreal! I would also love to be a snowbird sooner rather than later.

What's your reasoning for going with VRBO over Airbnb? How do we determine if the HOA will even allow for these hospitality services?

I've been using Cozy for rent collection and haven't had a chance to use it for screening yet. It looks like Cozy has partnered with Checkr for background checks. I found the following on their site:

Paul's process is so well refined and automated. I truly enjoyed this podcast and can't wait for him to come back!

Okay I can see this how this appears to be a money saver at first glance but could end up being a legal nightmare. 

I am currently house hacking a triplex and living in one of the units. I have my own wifi connection and to make a long story short, one of my tenants agreed to shovel snow this past winter for the password. This saved me plenty of money.

The same tenant has already offered to mow the lawn likely because he loves the location, realizes his rent is slightly below market and does not want to be kicked out of the month-to-month lease. I was thinking about offering access to my YouTube.tv account in the service exchange as a catalyst. This would save me even more money.

Should these small service exchanges as such be redrawn in the lease or are they better off under the radar? Any other ideas out there about how to save money related to landlord & tenant service exchanges?

 I think two weeks could easily turn into three weeks and a 7-day notice. I would rather incentivize the payment process versus rent paid whenever and handing out notices.