All Forum Posts by: J. Martin

I would NOT convert. Gas is much cheaper to operate. I know prospective tenants who have actually asked me gas or electric because of this. Most people prefer gas also for cooking because it heats up quicker. I am not aware if they are ACTUALLY more dangerous or not, but haven't had any issues (for example, electric burners stay hotter longer, even though they don't look hot - easier to burn a kid accidentally?). Get a carbon monoxide detector for any area with a gas appliance.

To be honest, I've only heard of people wanting to convert from electric to gas, but mostly in owner-occupied houses for cooking purposes..

Some may call me crazy, but with all the boomers retiring and many downsizing, is it crazy to just buy and hold a 2br home? Better rents/ft with smaller homes. Better sale price/ft..

Either way, I would be asking myself what the ROE of the marginal costs of the additions versus the marginal cash flow created by it.. There is also the added value. But I would just add the marginal value as a cash flow way in the future when you plan on selling it.. then discounting back..

Thanks @Ed

@Ed O. undefined ,

I'll take a look. I put some qualifications on the Craigslist posting, which is the most common source of rental listing around here. Then I've been going through VM, calling back to screen from there. I'm going to have my VA at least go through all the voicemails. Maybe have her call them back and "pre-qualify" them also to make sure, plus schedule them during an open house, or private appointment with my handyman. Then get my handyman's take on them and call back best applicants personally.

When you are talking about the website, are you talking about a form on my personal website that they fill in to screen, then call back from the form filled out online?

That would be unusual for the area, and my tenant pool is not the most computer savvy (nor would I be able to quickly troubleshoot any technical issues). But I like the idea in general..

@Adam Hofmann , you inspired me to get a VA..

Any tips on a good virtual phone/VM service? VA in peurto rico.. (not that it really matters! But wanted someone who could speak spanish too..)

I'd like to get a local phone number with a virtual voicemail box, accessible online or by calling in from anywhere, for when I put rental postings up.

I would like my Virtual Assistant (VA) to be able to check the voicemails and record the information for me. So it would need to be accessible from anywhere/anyone with the password. It would be a bonus if the service is free, and if my VA is able to make outgoing calls from that number. Maybe also have calls forwarded from there to a skype address?..

Skype? Google Voice? Some other VOIP service?

@Paul Crowson I have not used them yet, but sparkrent.com allows you to accpet payment for $1 per transaction and is a subsidiary of Intuit - so at least it's not some fly-by-night or under-resourced company presumably..

My tenants use money orders instead of checks though, so I don't know how well this would work for my tenants.. but if they're already paying online, shouldn't be tought at all. You pay the $1 fee..

@Moe C. , gotcha.

@Jennifer A. ,

I tell applicants that due to things like that in the past, I will continue to keep the posting up and market the property until the deposit is received and the lease signed. This makes sure you don't have to restart the process, and motivates the new tenant to act quickly if they are serious about it, IMHO.

Regarding over-improving. I pondered this a lot on my properties because I'm a long-term buy and hold investor. There are definitely benefits in higher rents, lower vacancies, hopefully longer tenancies with a nicely improved place. And you may tell yourself that it's improved the value of your property - which is true if its not worn out by the time you sell it. But if you hold it for a very long time, the present value of any realization upon sale is so small (for many extra improvements), its practically immaterial. So I like to focus on what it brings me today.. it's a constant balance..

Thanks for sharing!

If you don't miund everyone seeing it, but want to call a particular person's attention, you can type @before their name, then click their profile when it pops up at the bottom of the message box when you are typing their name..

@Navon Wallace

You can click "send PM" on the left hand side of their post, underneath their picture. This sends them a private message. (Or send them a colleague request with a message.)

1) Get preapproved (contact a bank or loan broker)

2) Tell them you will refer your friends, and your husband's wealthy work colleagues if they do a good job for you.

3) Newer agents tent to be "hungrier" for new business/connections. On the other hand, they will often have less experience, connections, and market knowledge..

Good luck!