All Forum Posts by: Haseeb M.

@Jennifer White

A lot can be learnt here on BP. What I learnt hands on the first year of my MF ownership, no body could have prepped me for it.

From insurance coverage to over rehabbing, I have learned some things the costly way.

Try new things, fail fast and pivot.

@Jases Brown

Believe me, this will not end well.

A lot of us have learned it the hard way. Even the best of the intent will result in dissatisfaction on both sides. The tenant usually feels entitled to more than what he got in return and feels he got short changed.

@Shaquan Webster

We are seeing this question few times a week now.

Recession will be here in ______.

Your guess is as good as anybody else....

@Mani V.

Do what is right for you as a business owner.

If the feedback mechanism does not work with the cleaner there may be a supervision issue. Who is the property manager? Who is the cleaner’s supervisor? What have they done? They should be your partners in this.

Nothing upsets guests more than an unclean room. You should talk to other local owners and get help with this.

@Josiah Sia

Good plan. Allocate cash judicially, sometimes it saves money to finance. Financing also frees up cash to scale.

My $0.02 - Start REI soon. It cannot happen soon enough and it never is too late.

@James C Norman Jr

I agree with @Jay Hinrichs that recessions are non events for rental property owners.

As long as you don’t over leverage and there are no fundamental changes to your market (think the biggest employer closing etc.) you will be okay.

Make sure to have enough cash reserves (or access to them) to help pay for any unplanned events.

@Donte Handy

At less than $50 per set, The Kwikset Smart Key

is a good investment.

https://www.homedepot.com/b/Hardware-Door-Hardware-Door-Knobs/Kwikset-SmartKey/N-5yc1vZc27lZ1z0v4pb

@Sadie Bynum

You have to make a decision at this point, is it worth it with what you now know?

If you are looking for a 25% discount on the price, this will likely not happen. Make them an offer like closing cost credit etc., this might work.

Now that they know the correct sq. footage, they most likely have to disclose this to all future customers and update the MLS.

@David Nacco

Dress like your clients, just a step up. First meeting is more important than the subsequent ones. Good grooming habits can help.

More importantly, take genuine interest in their needs and be patient.

@Logan Causey

Who wants to sell me at 20% discount today so you don’t have to sell at 50% discount in a few months :).

On a serious note, those who made deals in up economy will make deals in the down economy. Most others like the last downturn will be mostly locked out. Banks usually do a pretty thorough job vetting their customers when times are tough.