All Forum Posts by: Mark Douglas

Many thanks @Ronald Perich  !

@Kaycee Miller  @JD Martin  Thank you ! 

I keep hearing about the importance of having defined processes/procedures/methods in place for XYZ in your real estate business.  I've only got two units so far, and I'd love to hear from you all about what's worked/not worked for your business, whether it's PM software, ways to pay vendors, keeping track of expenses, handling the accounting, etc. 

What have you found to be the most/least helpful in scaling and maintaining your business functionality?

Are there any programs that will allow the prospective tenant to fill out the application and pay the app fee online?  I've only got one two units so far, and I'd love to go paperless with this part if possible.

@Brien OConnor said.  Painting over drywall is easier than replacing it, just as laying new floor covering is easier than correcting the subfloor damage underneath.  Deferred problems don't just disappear, and someone will end up paying for it.  Sounds like you're doing it the right way :)  

It's move-out day for my tenant, but she isn't ready.  (Still cleaning, packing, etc) 

Is there anything I can/should do to ensure she actually leaves today?  

Do you charge a late fee or pro-rated rent if tenants aren't out the day they're supposed to leave??  I don't want to give her the idea that she can stay over a few extra days to get things together.  I'd already given her a written 30-day notice, with a friendly verbal notice 2 weeks before the 30 day letter went out, so they've had 6 weeks to get ready.  

you may check with @Luka Milicevic or @Devan Mcclish

@Jameson Sullivan  I'm hacking a duplex right now, wishing I'd gone with the 4plex I was looking at instead.  If the numbers/financials work, go for it

@Zach Orange  Nice to meet you man, let me know if you want to grab coffee sometime.  

@Mykael Williamson I think you're right, a lack of inventory drives prices up, beyond the metrics of ARV. One "saving grace" for buyers may be the appraisal. I got a duplex for $95k (appraised value) but had it under contract for $114k. I was going to pay the full asking price because 1) the numbers still worked and 2) like you mentioned, very little inventory to shop around