All Forum Posts by: Chad Hale

Sounds like you are on the right track to figuring out the RE puzzle.

Where are you finding a 4plex at 1.1M in San Jose?  Which zipcode(s)?

As the others said, having onsite laundry is a feature/benefit that tenants like.  Think marketing and attracting good tenants.   I keep the W/D rates below the local laundromat but make sure I keep the rental rates near market.  In my market, you'll make much more on keeping market rates than increasing your W/D by 25-50 cents.

I've had good success with WASH Laundry.  Quick to make repairs with minimal work from me.  I do collect the coins since I'm already inspecting every property at least once per month anyways.

Short term rental management rates are going to be a bit higher than a long term rate.

I would expect 15% to 40% depending on the area and company.  I know that's a huge range...  The average is probably around 30%.

Advertise/market in as many places as you can. In my market CL provided most of the leads a year ago, now Zillow is better. Who knows what next year will be? For SFR in good areas, I find a professional sign in the yard providing good leads too.

I use SmartKey locks by Kwikset.  You can rekey a lock in literally less than a minute.  

Initially rent at market rate to a tenant that satisfies your criteria.  There are no guarantees how long someone will stay.  Give yearly rent increases that are just below market rate.  This keeps your rent moving up with increasing expenses and helps retain your tenant(s).

If you are looking for a low to no effort solution, I've had good success renting washer/dryer from WASH.  They also provide all maintenance included in the rental amount.  

Might be quicker/easier to go downtown to the Building Permit offices and ask someone in person?  Have all your questions ready and APN number for them to look up.

I was just there yesterday as a drop in and was done in just a little over an hour.

PM sent

Post on in all available channels.  What is hot (producing good interest/leads/applications) now may be very different in 6 months or a year.  Keep notes on what is producing for reference.

In my market CL was great for quite some time, now Zillow, trulia, hotpads is producing 95% of the leads.  But don't drop the "low performers" either, they may produce the one applicant that you place.  This just happened for me.