All Forum Posts by: Manuel Melendez

I'm Evelyn w/ Nestegg Properties (this is a joint account, in case you're only looking at the profile photo). I own multiple rentals in the area and love helping other investors find investment properties as well. So whether your goal is long-term appreciation, cashflow, or fix & flip I'd love to help. Through our own renovations we've found great contractors who can help get the job done too. I'm not very active on here, but please feel free to give me a call/text 734-707-9195 or email me at [email protected]. In case you're wondering, owning my brokerage NestEgg Properties and managing a handful of properties is my full-time job.

Thanks for reaching out! I’ll be in touch this week.

Cheers,

Manuel

0 Votes

Ann Arbor, Michigan

Hey folks,

I’m looking for an agent in AA who has experience with investment properties in the area.

Thanks!

0 Votes

Ann Arbor, Michigan

Hi all,

I’m looking for a point of contact around Ann Arbor, Michigan who has experience with seller financing.

I’m looking to acquire a property in AA to be closer to family, and I’m exploring seller-financed options as well as vacation home options.

This would be my first seller-financed investment, got lots of questions!

Cheers,

Manuel

0 Votes

Thanks Nathan, those are some great options to consider. I’ll think more about the 6 month option, it certainly would be an advantage to get onto a summer cycle

Quote from @Nathan Gesner:

Quote from @Manuel Melendez:

It's common for the rental market to slow in the winter, particularly around the holidays. A couple tricks:

1. Lower your price, but never lower your standard.

2. Offer a month-to-month lease or a 6-month lease. This can attract more potential renters to get you through the winter months, then you can rent it for a full year and get in on the spring/summer cycle.

3. Offer an incentive like a % off their second month of rent. I don't recommend discounts on the first month because you don't want someone moving in cheap and then they can't afford the second month of rent.

4. Increase exposure by marketing on multiple platforms.

5. Make sure your pictures are good, your description is well written, and try to add a walk-through video that makes it easier for viewers to get an idea of layout, neighborhood, etc.

0 Votes

Coastal NC, North Carolina

Thanks Joseph,

I definitely am in an area with lots of supply, that makes sense. We’re asking for one month’s reserve plus a deposit; I hadn’t even thought about Christmas being an issue, but I could definitely see that. It’s not a very high income area, and there’s lots of young single income families just getting started in their military career.

Quote from @Joseph Beilke:

It could be the slow season, or it could be supply and demand. You rent being slightly higher could deter some, but not having any request to see the property sounds to me like you are likely in a higher supply area and with your rent being on the top range you are likely lasted to be considered. I would hold out till Mid January and if I am still getting crickets then lower the rent. Also, what are you asking for up front? If you are asking for 1st, Last and a deposit and it being XMAS you may be losing tenant opinion because of amount of money needed to move in. Considering only Deposit and 1st months rent may help get more looks too.

0 Votes

Coastal NC, North Carolina

Hey folks,

I’ve had my first LTR property in Jacksonville, NC listed for about 10 days now. It’s a townhouse listed for slightly over the average market rent for comparably sized townhomes, which I did because it’s also a nicer example than what’s typical to the area.

So far no takers, and my gut tells me that if dropping the rent by $75 would get me a tenant sooner, that’s better than missing out on $1,075 of potential income due to vacancy.

Does starting out in the slow season likely mean that I need to be less ambitious with rent prices, or is 10 days on the market without a finding a tenant reasonable?

Thanks!

1 Vote

Coastal NC, North Carolina

All Forum Posts by: Manuel Melendez

Manuel Melendez has started 3 posts and replied 6 times.

Post: Looking for an agent in Ann Arbor

Post: Looking for an agent in Ann Arbor

Post: Looking for help with Ann Arbor seller financing

Post: Strategy for finding a tenant in December?

Post: Strategy for finding a tenant in December?

Post: Strategy for finding a tenant in December?