All Forum Posts by: Javier Tejera

Welcome this is a great site, lots to learn. Sort through every section on this site. 

Welcome this is a great site, lots to learn. 

Good Luck there is a LOT of info on this site, take advantage of it.

@Chris A.

Well on the W/D its your call, they are a maintenance issue. If you put cheap and used, expect a call in less than 1 year potentially. If you put nice ones, and they break, then they will expect a nice one back in as a replacement ($$). I would put in normal top loader that's in good working condition and you would not expect issues with. The key is to minimize your maintenance. Some tenants may bring their own? I would advertise it without, and if they ask for it, tell them you can provide a W/D for $XX more per month. Dont get greedy, but make it palatable for them to pay for it. 

Honestly on the refurbished ones, I'm not sure. What I've done is go to the Post Office get their Moving Package (paper form), in there there is a Lowe's 10% off coupon code, you will have to go online and request it, and you will get it in 30 days (not sure on your timing). Go to Lowe's and get the bottom of the price range new, both W & D, and ask the Manager for a 10% discount, you can throw in you are a RE investor and looking to get more W/D's and sometimes I get them to give me the 10% off (not counting or telling them you have a 10% coupon), and at the register hit them up with the coupon, since you have to pay before they bring them up front. Bingo almost 20% off new ones that will not give you any headaches for several years (plus have a 1 yr warranty). Note: for the one that may think this is not ethical, at the register I tell the cashier I got a discount from the manager and I'm applying this 10% coupon on top, when they scan it, it goes through, so "I tell them". I've done this about 4 times.  This costs will be close if not better than Refurbished + potential future repairs... It may cost you a little more now, but will save you headaches in the future. Also spend the money and get Stainless Steel braided lines if you can, they last longer.

Hope this helps! 

JT

Hello Chris and welcome,

I agree with most (not all) the comments, I've been renting for 10 years, no PM. If this is what you want then here are some tips... These are my opinions and have worked for me. 

Definitely Screen, this is worth its time in Gold. Its best to have the property empty for 1 more month than to rent it to a Bad tenant. 

First get several applications and number them 1,2,3 etc.. Have a Showing on a certain date and between certain hours, do not go meet people when they want, otherwise you will waste a LOT of time, they say they come and do not show! You can have 2-3 showings per week. Morning, lunch time and evening (weekend). Not everyone can come at the one time you set up a meeting... 

Make Sure the property is finished! This is very important, have electric on, and water. You can have a friend come and act as potential renter (you can use your imagination here). Treat Everyone the same, in FLA there are State shoppers (like a White female with a Black Male couple) to see if you discriminating. So every one is the same! 

If someone is really interested have them fill-out the app there if they can, and give you the Security deposit now (refundable if they don't pass the Mustard test). It could be more than 1,2,3 people you collect from (don't deposit the check(s)). 

Now I guess it depends if you do the vetting or someone else, but if you are going to call previous Landlords, make sure you call 2 Landlords back, this landlord will give it to you straight, since he/she is not needing to get rid of your new tenants and will talk more candidly. Also, ask them questions to trip them up, like verifying the wrong rent amount. Why you ask? Because you may be calling the "Brother-in-Law" instead of the actual Landlord. Believe me I've seen it... 

When you have selected 1,2 candidates, go to their house unannounced with an excuse you need more info, this way you can see their living style, cars up on blocks in their driveway, cleanliness etc... 

No pets is better, but it depends on the house layout? Carpet, tile? Insurance issues, pet type.... Pets can be a money maker for you if structure right! 

Hope this helps! 

Javier T.

Welcome Chris, this site is great, get your feet wet and jump in, its the best way to get rid of your fears. Make educated decisions on your purchases from the Articles/blogs etc... Learn as much as you can... Go for it.

Hello @Amie Lamb, I would not necessarily shy away from Students. I've had student in one of my properties very close to Valencia College, and yes they can trash the place, but what is trash really? If you have tile floor, the rest is paper (drywall). You can put in some preventive measures like a built-in cleaning lady (monthly) who also acts as your "spy" ;-)

My student house was rented for 4 years, so yes when they moved out it was the equivalent of 4 years worth of move-in & move-out by multiple tenants. 

I will tell you that students (in my experience) pay the rent on time, every month! Why because if there are 3 or 4 of them, the rent per person is cheap! so its easy, besides sometimes its Mom/Dad that pays it. They are also Respectful, since most of them are younger (I guess that depends how old you are? Don't answer that) 

You wan the 2% student housing is possible! 

Good luck,

Javier T.

Hey Tyler, I would steer away from Appliance Direct, they simply do not last. I have gone to the Post office and gotten the handwritten change of address form, in there there is a 10% Off Lowe's coupon. In the past the coupon was there, now you have to fill-in online and you get the coupon in the mail. Then go the store manager and ask them you are making a big purchase and you would like to get 10% off, I've gotten it, and then hit them up with the 10% at the register. Wallah ~20% off. I do pick them up myself and dont pay for delivery, but that's me.  

Good luck

Javier T.

Welcome Leo, I'm also new to CT and done some few rehabs in FL. This site is great, I've been absorbing as much as I can, there is a ton of GREAT info here. 

Thank you all for the warm welcome, I've been searching the site and it is very good, I'm sorry I did not find it sooner. Considering upgrading soon, have to do more research. 

Again thanks, 

JT