All Forum Posts by: Marian Smith

Thanks for the reply. I am sure the MLS doesn't tell the whole story with rentals. A lot of people use Craigslist and even just yard signs. I guess I can judge the temperature of the market by just looking at how long properties have been available--mostly for less than 30 days. So maybe the average of 11 properties rented per month is not demand driven but supply driven.
I was wondering if there were a rule of thumb, sounds like there isn't.

What is a balanced market in sf rentals? I have been reading that a 6 month supply is "balanced" for sf sales. Texas has currently a 4-5 month suppply for sale so is now entering a sellers market, supposedly. I looked back over the last year and in my zipcode about 11 houses rented per month. There are less than 30 for rent so a 3 month supply. Is that a "landlord's" market or are the ratios different for sf houses? Sf houses compete with apartments, obviously, so does one use the apartment vacancy rate to assess relative scarcity of available sf rentals? Thanks.

Agree with the above. A 20 year+ property manager around here says he and no one he knows does 4-plexes. Too much work (they're always in bad areas). So he says if you want a 4-plex, be prepared to be pretty hands-on. I would assume it would be similar advice for a larger multifamily in lower income/section 8 type areas.

I would think slate would be fine on a bath floor. It is used on roofs. Porous tiles can be a problem in showers evidently, with water somehow wicking through to the substrate--even that seems unlikely to me, seems like it would be a grout or caulk problem. But the tile guys blame natural stone tile.

I have come up with 87% of list. That may be just bidders biddding 87% to beat anyone who is bidding in the "minimum" 85% range--if it is commonly thought to be 85%. I used the MLS data.

Thanks. So you don't disclose it? The database says this guy served 5 years and is moderate risk. Victim 17 yr old, but he was 30+ ---and that doesn't mean younger are not at risk.

I keep putting myself in the place of a tenant and I am disgusted everytime I look at the house. Oh, well. The mother's pretty old, maybe she'll sell and move to assissted living.

I love the flat screen idea. I buy and rent, but I would put a flat screen over the fireplace if I were flipping. It saves space so the living room is bigger. Black Friday...good time.
That said, nickle hinges, door knobs and light fixtures really look nice. They're at eye level. I had to change out the outlets on my last house because they had been painted over multiple times (what the hell?) and it wasn't cheap--materials were. Changing the plates would be a no brainer with painting.
If my flips were taking too long to sell, I would take a page from the builder model homes. They try to make the homes memorable. Beige with white trim is so common, I would paint an accent wall in the living; or paint the kitchen "Pottery Barn" sage or the hall bath pale metallic silver with a shimmery, trendy shower curtain. Cheap, easy enough for buyers to change, but the right colors will appeal to alot of buyers. (Unfortunately, I don't have "the right colors", but at HD I found a beautiful Martha Stewart green that almost looks beige in indirect light. I used it once and plan on using it again.)

I would never allow someone to smoke in my house. The smell permiates everything.
A 20+ year property manager here recommends not allowing pets. Lots of landlords do. I just showed a rental house that had just been repainted and refloored. Why? Tenants with 3 dogs for 2+ years.

I just found out the lady across the street has a son who is a registered sex offender living with her. The current tenants haven't said anything but I am wondering what I will be up against when the tenants leave? The property is in the bottom price range for the area, which should help. Any guesses on how much longer it will take to rent or if I will have to lower the rate?

Thank you both for your opinions. I know I will never rent it if the owners are out front-- two 40-50 yr. old brothers living at home with their mother. One has long hair and usually doesn't wear a shirt. They tried to interest me in a bike frame for 5 bucks last time I was there.