All Forum Posts by: Mike S.

Process them in the order they are received, accept the first qualified tenant and don't process the rest, and refund application fees for those who were not processed and tell them you've accepted another application.  Unqualified applicants get sent an adverse action letter(required if credit was used to disqualify).

Rotary hammers (also called demolition hammers) will make quick work of it. Harbor Freight has them for about $100 for a one time job situation which can be cheaper than renting.  If you see yourself doing this kind of demo a lot, a nicer one can be had for around $300.

Some states you just give them the EPA required pamphlet and put it on your disclosure form, some states you have to remediate it

I've had good success with this.  Once under contract, my agent gets permission from the seller agent and owners.  She lists and starts showing the house up to a month before closing.

It won't affect MLS listings. Zillow makes money off realtors by allowing you to pay to have your name show up higher or on top of contacts on listings. My agent paid $3,000 for a single quarter for a single zip code to be the top contact in that area. She said it was worth every penny.

 My properties are class B, with class A potential if I wanted to spend a little money.  I do 90% of the maintenance myself when it comes up.  I have 8 properties.  I screen, in my opinion, for trouble free tenants.  I have tenants on their 5th year and I don't ever see or talk to them except when I do a yearly maintenance/inspection call.  Other tenants I've had to visit more often for repairs and sometimes it comes all at once.  One calls with an issue and it never fails one or two others will need attention that same week.  Vacancy or turnovers happen on average every 2-3 years per property.  I find that with 8 properties, showing vacant units and occasionally repairing issues and shuttling 2 kids to school, sports, and piano, it's still very manageable.

My opinion is every landlord should manage at least their first property themselves.  Get a feel for how things work.  Screening people will educate you like nothing else.  Screen to a written criteria, never compromise them, never let a sob story override your good judgement and don't be afraid to say no.

 My attorney allows free on the the phone consults with her paralegals and has even gotten on the phone with me to resolve an issue without charge.

 No, by February llinois, Tennessee, New Hampshire, Delaware, South Carolina, and North Carolina by March it's rolling out to Alabama, Georgia, Mississippi and Texas.

It's coming to every state on a scheduled roll out.