All Forum Posts by: Kim Meredith Hampton

Hi @stuartfox, would be happy to meet to discuss areas, rents, and fix up costs on any properties that you are interested. We manage homes in the Orlando, Tampa and Melbourne markets. We have a strong network of properties that can be purchased that are off market, with tenants and cash flow. In addition, we have licensed and insured Gc's. fix up crwes for anything and everything

Thats a difficult one here in the Orlando marketplace. The price points have went up significantly over the last couple of years. Pine Hills area may have a few, but not the nicest area, but the rental market here is very strong, so your return would be good too. We also have the other Southern end of Orlando in the Kissimmee/St Cloud area where the prices are lower, rent prices good, but the tenants can be rent challenged at time!! The northern end of Orlando is Sanford, where their seems to be a gentrifaction of the area near downtown Sanford

agree with @tayenguyen

Because I give the vendors volume work, I get them for $99, and that is passed on to the tenant as an "admin fee". We really don't make any money on this, but I find that the third party is extremely helpful when it comes to disputes, and we all know how the tenants like to say that it looks better than when they received the property. Helps alleviate a lot of those issues 

I have my properties professionally inspected several times a year, and the majority of the cost is bore by the resident, but more beneficial for the owner. Everyone (tenant and owner) are given a copy of the inspection( very transparent),

Your maintenance personnel or team should give you a heads up whenever they visit the property to perform any work. 

We have just started charging "pet rent " on a monthly basis. I have seen anywhere between $10-$25

Give notice to vacate, this is not how you want to start out on your first property. Check your law with regard to proper notice. If you want her to leave right away, then possibly offer to give her cash for keys if she doesn't seem to enthused to leave.

A lot of month to month leases   Go in accordance with how she was paying her rent (month to month) , then thirty days notice

Please make an effort in the paper and thru social media. Did you have an application with whom to contact in the event of an emergency? 

Every state is different with regard to abandoned property and death.

Would be helpful if they had a will and who gets what, etc... never let anyone take any items unless you have documentation 

I'm not sure what's the law is in California, but in Florida we can not terminate utilities at all for any reason. Please be careful with that situation.

Best thing to do is pay the bill, then after them after they are evicted, make sure to get a judgement. I have had people come back years later and pay when they wanted or get approved for a loan 

ANother thought is to have a small increase in the second year

I have actually a different view of this. I actually have found that most Realtors trying to also do the PM, are just trying to protect their clients relationship, so they dont lose them to anyone else and actually know very little to nothing about all of the pitfalls and statutes that govern PM. This is actually a detriment to the investor, most of them are only looking out for themselves. I believe that a Professional PM, is worth their weight in gold! Please be careful and do some due diligence and see how many houses they manage, do they hold the escrows, how do they run applications, perform maintenance, how do you receive your monthly proceeds, the list goes on and on....