All Forum Posts by: Eric Roenker

Thanks all, it does look like an arbitrage play for them.  I was planning on going down the MTR road, but thought I'd ask this community for experience.  

Turns out their follow up is terrible as I called the contact back and left a vm and sms.  No response.

Interesting query came in last night on my rental posting on Zillow.  Someone from Zillycon wants to lease up my property from 1-4 years for corporate clients.  They would use it as MTR corporate housing and would manage the property.  Looking at their website, Zillycon.com, though it looks nice its pretty much bare bone information.  Curious if anyone on BP has any experience with this play.

I just sent out rental increase letters to my tenants at the beginning of the month following the AOA's guidelines for CA.  Using their guidelines, I could raise rents up to 10%.  With the state (and some local) government now setting rules on what we can charge, make sure you are maximizing the yearly rental increase.

Hmm, they didn't ask for my deed when I signed up.  They must have some % they audit to verify ownership.  

Just started using RentRedi for our new rental property that we are renovating and expanding to 4 units.  Our front unit was ready to rent quickly and I just leased it up and received the first month's rent payment via the app.  In my view as a BP Pro, the direct deposit feature is worth switching to this platform from a manual setup.  I have another rental that I manage and the long term tenants pay with a money order each month.  Its true mailbox money that I need to deposit.  Hopefully, I can convince them to convert over to RentRedi also.

Great question!  We are not very innovative in our management side of our fix and flip business.  Google Sheets, Google Drive, and Quickbooks are the main tools we use track budgets and expenses.

I'd love to hear what others are doing.

Wow, lots of tough love going on in this thread.  Long term wealth starts with buying something and holding on for years/decades.  Even if you have to hold on by your fingernails, lol.  This is a thin deal, but if you can make it work during the lean times, it will only benefit you in the end.  If/when we get interest rates back to 3/4%, you can laugh at all of negative-nancy's in this forum.

Good luck Jon!

@Jorge Herrera, a word of caution when identifying contractors in any market, be sure to review their previous work and get true references (talk to existing customers).  My particular experience with contractors in Bakersfield has been quite poor. I'm sure there are good ones in that market, I just haven't found any.

@Arnold B. Guerrero

OMG! that's terrible.  I hadn't thought about asking about continuity of mgmt when interviewing PMs, but I guess its very relevant.

@Sanjeev Advani - I have an SFR under contract at a great price so I'm looking to hold it in a remote-to-me area. Setting up a local team is key to pull this off.

@Tracy Streich - Thanks for the tip!  I just ran a search and received 5 hits.  I'll give them a call.