All Forum Posts by: Stone Jin

A wise investor once told me that below market rents are like me giving my tenants a gift each month.  I'm still guilty to an extent but have been steadily raising as things come up for renewal.  

Real estate is so localized, asking a broad question like this is hard to answer and no one has that crystal ball.  I would like to say that the hot cities with massive population growth and job growth will experience good real estate growth, and vice versa. :)  

Numbers sound decent, what's your cash on cash return?  Does it meet your requirements?  Make sure you know what you want out of each investment, if the numbers meet your criteria then pull trigger, otherwise keep looking.

Are you trying to run background and credit on a perspective tenant?  Are you planning on self managing?  There are a number of providers out there if you plan on doing your own screening.  I don't use TLO but it looks like any other SAAS software where you create an account, log into a portal and then send whomever an invite to do the credit check and then the website would share that with you.

@Bob Okenwa is correct, stay away from south mountain area, it's a rougher part of town.  I would l recommend the part of mesa by Mesa Community College.  It's close enough to ASU but the prices are not Tempe prices.  Good luck.

@Laura Williams I've also used facebook, however I have 2 dislikes.  1 it seems like the quality of the leads are not as good as zillow and 2 it comes through messenger on my personal facebook profile.  I've only listed 1 property for about 90 minutes before I took it down.  

@Donna Mixon depending on your target demographics a sign in the yard may work best.  There is still a segment of the population that are not tech saavy and a sign in the yard may work better than expected.

Agree with everyone, the market will dictate the rent.  Likely the people that are staying are also taking advantage of the situation as well and they are getting a boon ie higher wages for construction labor.  Rent for what the market will yield forever.

I would think renting a room is no different than renting the whole unit as far as rental applications are concerned.   Just make sure you have your criteria and stick to them.  

  You can advertise on craigslist, I believe they have a section just for rooms.  

I only use zillow rental manager now (trulia, hotpads and zillow).  

You are responsible for the property and not the relationship between the tenants.  I would let the upstairs tenant know that this is happening and let the downstairs tenant know to call the police the next time this occurs.   You should not be in the middle of this because who knows what else has transpired.