All Forum Posts by: Mike Hoefling

So this may sound like a crazy question, I have listed my property for rent at what I thought was market rate rent however that does not seem to be the case as of now. In 12 hours of having it posted I received 16 phone calls and set up 6 appointment showings. Calls and emails are still coming in steadily. So it seems that the rent I posted it at is too low, but I did my research and thought I had it listed for the market rate, I actually thought I would have trouble getting it rented because I may have posted the rent a bit over market rate.

Is there anything I can do to raise the rent that I have in the listing at this point or have I passed the point of no return?

I am looking for a Real Estate agent in the Kansas City, MO 64152 area to sell a Single Family house that I own. Can anyone provide me some recommendations on realtors in the Kansas City, MO area?

The house is a 1500 sq ft. 3 bedroom 2 bath house on a cul-de-sac 0.25 ac.

After the recent weather we had in Massachussetts I had a small leak in one of the apartments in my multi-family. Does anyone in the Worcester, MA area know of a roofing contractor or handyman that you could recommend for me?

For more information it was a leak from the ceiling that hardly filled the bottom of a small bucket, so its not a terrible leak I just want to take care of it before it gets worse.

@Donald M. I use Southbridge Savings, but you can use any MA bank make sure it is and account that you are the owner of. You just want the bank to know that you are the Landlord so the tenant cannot withdraw on it.

Kyle Cabral I would use one of the RHA forms that have been proven in Massachusetts housing court. http://www.formsforrealestate.com/forms_rental.php Also I would recommend reading this book "The Massachusetts Landlord Survival Guide" by Philip S. Lapatin. I have read this book and it is a great source of information. If you have any specific questions PM me. Mike

Do you have a bill or invoice from the city showing the amounts charged over the last 6 months? Can they provide you with one? One of my thoughts would be, is there a leak or did the tenant leave the water running?

Back to the charging of the application fee. My understanding is that the 'applicants' are not 'tenants' so you would not be charging a tenant this fee since they are technically applicants and not tenants. Just my 2 cents.

@Anthony Gayden It looks like I will have to wait 2-3 years until I have enough capital to get into another.

@Gualter Amarelo Haha, I listen to so many podcasts and they are always like I buy property for $30k or a 3-4 unit for $100k and I am like not in my market. Maybe they will do a podcast for someone investing in a more expensive area like ours. And you are absolutely right, I need to start attending the local REIA meetings. For the next few months I am working in Los Angeles, CA so all I can do is save my money.

@Gualter Amarelo

Thank you for the link to that article. I think in MA we would spend a bit more for multi-families than in that article ($100k) but I get the idea. Right now I just don't have enough to get into my 2nd multi. I would be willing to go into a deal with another investor but I have not started to work with anyone yet. I recently took a class to get my real estate license so I could potentially sell RE on the side to until I have enough capital.

I would be willing to owner occupy if the downpayment was less however I have not found a lender who would go down from 20-25%.