All Forum Posts by: Erick Armando Gonzalez

Congratulations on your first rental property! It's great that you're being proactive in ensuring you don't overlook any important details. Here are some things you should consider taking care of immediately and in the short term:

1. Insurance: Make sure you have landlord insurance to protect your property and liability coverage. It's important to have coverage in case of any accidents or damages.

2. Utilities: Transfer the utilities into your name so that you are responsible for them once the tenant's lease expires. This includes electricity, water, gas, and any other necessary utilities.

3. Property Inspection: Conduct a thorough inspection of the property to identify any maintenance or repair needs. It's important to address any issues before they become bigger problems.

4. Lease Agreement: Review the existing lease agreement and discuss the tenant's plans for the future. If the tenant intends to stay, consider drafting a new lease agreement that reflects the updated terms and conditions.

5. Rent Collection: Establish a system for collecting rent from the tenant. Determine the preferred method of payment and communicate it clearly to the tenant.

6. Tenant Screening: If the tenant decides to move out, you'll need to find a new tenant. Develop a tenant screening process to ensure you find reliable and responsible tenants for your property.

7. Financial Management: Set up a system to track your rental property income and expenses. This will help you stay organized and make tax filing easier.

8. Maintenance and Repairs: Create a plan for regular maintenance and address any repairs promptly. Keeping the property in good condition will help retain tenants and increase its value.

9. Communication: Maintain open lines of communication with your tenant. Promptly address any concerns they may have and keep them informed about any changes or updates.

10. Local Regulations: Familiarize yourself with the local landlord-tenant laws and regulations in Cleveland, OH. It's important to comply with all legal requirements and stay updated on any changes.

Remember, it's always a good idea to consult with a professional, such as a real estate attorney or property management company, to ensure you're taking all necessary steps and complying with local regulations.

Hey BP Fam,

As a seasoned realtor with a few years of experience under my belt, I've been consistently seeking ways to boost my lead generation efforts and ultimately close more deals. While I've implemented various strategies over time, I believe there's always room for improvement, and I'm eager to learn from the experiences of others in the field.

I'm particularly interested in hearing from those of you who have been consistently closing deals and have found success in generating high-quality leads. Whether you're working with residential properties, or specializing in a niche market, I'm keen to learn about what strategies have worked wonders for you and what tactics may have fallen short of expectations.

Some specific points I'd love to discuss include:

1. Where have you found the best leads or prospects? Are they coming from online platforms, referrals, networking events, or other sources?
2. What specific lead generation tactics have you found to be most effective in your market? Have you had success with social media marketing, email campaigns, direct mail, or any other methods?
3. Conversely, what strategies have you tried that didn't yield the desired results? Understanding what hasn't worked can be just as valuable as learning what has.
4. How do you nurture and maintain relationships with leads to ensure a higher conversion rate? Are there any tools or systems that have helped streamline this process for you?
5. In today's digital age, how important do you find online presence and branding to be in attracting leads and closing deals?

Feel free to share your insights, success stories, and even the challenges you've faced along the way. I'm open to learning from all perspectives and excited to engage in a fruitful discussion that will benefit us all in our real estate endeavors.

Looking forward to hearing from you all!

Hey BP Fam, 

What would you do? 

Im working with a lady that bought a property last year (January 2023) with her now EX-Boyfriend. Things went south and now everyone wants out! 

Here is details to the purchase:

Purchase Price: $650K 

DownPayment/Cash to Close: $153K

Intrest Rate @ 5.65%

Monthly Mortgage: $4,242.51

Loan Balance: $528,872.47

**Her Ex-Boyfriends is asking for $37K to leave**

Estimated Market Price: $669K

Estimated Monthly Rental: $3,750.00

We have talked about Traditional Sale or Rental, and she understands that both ways will bring her into a negative position. Im looking for other ways to be creative **and she's open to it** (SubTo)? SellerFinance is a no-go

Anything that will not get her to deep ion the HOLE!

Who's on TITLE?: 

1.Her

2.Ex-Boyfriend

3.Cousin

4.(her)Dad

Who's on the Mortgage?:

Everyone except HER! 

**Ex-Boyfriend, Cousin, (Her)Dad**

WHATS THE BEST WAY TO GO ABOUT THIS????? 

Any and every comments are welcome!!!

Who's the best point of contact who can assist with removing someone from title?

Hey BP, I'm researching different STR insurance options for North County San Diego and am wondering what your experience has been.

Hi BP Fam,

There are many different platforms available for advertising your rental, but it can be overwhelming to decide which one to use. 

Do you have any experience with marketing a rental property? If so, where did you have the best success? Have you had good experiences with any particular rental listing sites? 

Thanks in advance 

DM me

Does anyone here have an AirBnB near Disneyland (Anaheim, CA) or have any info on any restrictions? I’m interested in purchasing something small and turning it into an AirBnB, let’s connect 🙌🏼

I’m new to the RE Investing world and would like to network with others in the San Diego Area, or would like to connect with anyone in a different state over the phone, zoom or FaceTime. I’m a Realtor located in San Diego, CA.

Anyone involved in wholesaling in Southern California?