All Forum Posts by: Marcela Hoag

Pick whichever aligns with your strengths better. You'll have to grind either way, you might as well make it an easier grind. 

Hi Loren! 

Which areas do you focus on? 

Renting by room is a great strategy as long as you know what you're getting into. To manage common spaces, I suggest a) house rules b) hiring cleaners who comes by once per month so no one feels like they're being told what to do. Also helps to provide some communal things like soap, toilet paper, paper towels, etc.

The more effort you put into screening tenants, the better. Each house is going to have its own "feel" and you don't want people coming in who will rock the boat. For example, what are you going to do about people who like to party? Or smoke? Or people who work at night and need the area quiet during the day? There's lots of extra things to be aware of which you wouldn't normally need to deal with. But the extra cash can make it worth it.

Welcome! 

I suggest using multiple channels here like Furnished Finder. You can find people who are willing to rent STR and extend to MTR, which means less work for you, with a similar level of upside. Lots of traveling nurses in the area.

@Nathan Gesner @Anthony Angotti @Eliott Elias @Matthew Irish-Jones

Thank you for all your feedback and advice! Really appreciate it!

Hi everyone,

As my rental business expands, I'd like to ensure we're scaling properly by hiring property managers in the future. My husband and I are thinking of moving out of state, which would make this an absolute necessity. 

My question is have any of you tried alternative methods of compensating property managers, besides the usual % of rent? E.g. Giving a stake in your real estate? Something else to ensure reliable management of properties? I'd love to hear about your different compensation strategies! 

Thanks in advance!

- Marcela

 @Peter Sengsavang -- 

Nice to meet you! I am the top agent at Gideon's brokerage, Pellego. Happy to help you with any questions you may have! Will send you a DM. 

 Hi Mike,

I will be attending this event next week actually! I think it could be exactly what you're looking for. 

https://www.meetup.com/realest...

 +1

I suggest looking at the macro socio-economic factors for each market at a state/city level to narrow down what/where you're targeting, and then, like @Drew Sygit said, really taking the time to understand a specific market. That will 100% help you in finding great deals.  

For instance, here in Seattle, people are pushing out north and south because of how expensive Seattle has become, and the lack of inventory/building space/regulatory burdens. Light rail is beginning to connect everything along the i5 corridor, meaning that property values will rise accordingly in neighboring cities. Remote work also means people are willing to live further out, meaning an influx of money in affordable suburbs that are a fairly distant commute. Etc. etc. 

Hi Mike! 

Welcome! 

My husband and I are investors in the Greater Seattle area. Let me know if you have any questions about getting started!