All Forum Posts by: Jeff Caravalho

@David Oberlander (sorry input name wrong)  No, No, No and yes on attorney.  Using Rentometer and we are about 100 low but didn't want to get greedy in winter.  But yes need to have better feel for this market, thx

@Seth Ferguson that's good to know, but still having a chat w/ Mr. Attorney:)  Thanks everyone!

@Oberlander No,No, No and yes on the attorney.  Using Rentometer and we are  about 100 low on that, but not sure of how it would go in the middle of winter, so didn't want to be greedy, right @Philip Willis?.   But yes I should have a better feel for the market - sheesh!  We are putting it on a 6 month lease and tenant would go in knowing rent will go up in 6 months, on a new lease @Mary M. no apps out yet, some students but not too much.  Definitely weighing risk in winter..@Frank Wong. Yes I'm thinking 80-20 rule on that one...@Dennis M. That's funny, yeah you guys would laugh at the winters out here!

Wow, thanks for the response everyone! really appreciate your input.  @Michael Noto Yes, I bet only 20% of them will be good to go, which is pretty good in the middle of winter...@Nathan Gesner no applications have been filled out yet.    @Matthew John good plan, one of our rooms has no closet, we were going to put in an armoire and call it good, but contractor buddy said he had to put in a real closet on a job to make legit bedroom.  So for now thinking of calling it a 2/2 with bonus room (office or game room or bedroom if desired), leave rent the same for now and require renters insurance, then at the end of a 6 month lease , put in a closet, and raise the rent after that.  Any thoughts on that?  Can I change the ad to say 2 beds and bonus instead of 3 beds?  Or should I just pull the ad and make another?

@Mary M. Yes and yes:)

Apparently I advertised my rental too low because I have 80 people interested in 2 days.    I advertised $1700 but I'm at least $50 low for sure, maybe $100 or even $200.  How should I approach this from a legal standpoint?  Can I just update my add (zillow) with the higher price?  Is it ok to have a bidding war for a rental?  Good problem to have, but I'm not sure of the best way to inform everyone that I'm low and need to increase, or if I even need to.  Mostly legal concerns, don't want to be surprised by a "professional" tenant!  Thx for your input.

@John Thedford Yeah good thing I'm not looking for cash flow out of my gold and silver...don't know anyone who would...

Thank you @George Blower, good stuff, Merry Christmas (if your not in the stock market)!

I think you're right about 10%, 5% at an absolute minimum for me.  But it has to be physical; I guess you could say I'm in a bit of a prepper mode here, mainly because I am severely lacking in that category, and the signals from the financial markets not just here but worldwide concerning debt and demographics are worrisome to me.   So much for the solo401k idea.  Having someone else hold your gold kind of defeats the purpose of having gold in my opinion.  Yeah it may be a hedge, but for me it's for if/when the $&!@ hits the fan... But yes @Dmitriy Fomichenko I am lending money which is great, thx.

Hi @Aaron Kinney, I'm thinking portfolio diversification (bla, bla bla!)  No but want to to take more of a defensive position in the portfolio because I see a bear market ahead to say the least after the powers that be put a 10 year bandaid on an already bad idea, brilliant!