All Forum Posts by: Michael Robbins

I would start by saving up and building up your reserves.  I like to save at least 3x the rental amount minimum.   This way, when the unexpected happens, and it will happen, then you will be ready.  

After the reserves are taken care of I would look into what could be done to the property in order to generate a higher rental rate. Will new interior paint = $100 more in rent per month, etc...?  

Lastly, once reserves are built up and improvements made to the property (if any are needed) then I would focus on paying down the mortgage and reducing expenses on the property.  

In my opinion the only way it should hit the $400 mark is if the actual faucet fixture is expensive.  This seems high to me.  

I would suggest sending something in writing.....  Recently, I have noticed the door being left open on multiple occasions.  If there is an issue with the door latching or functionality please notify me immediately...... 

You do not want the tenant coming back after an incident has taken place and blame you for the door being broken, not locking, not latching, etc... 

Congratulations!  I like the extended driveway and the house has nice curb appeal.  

I believe its most important what you charge the tenant versus what you end up using the remaining security deposit for.  Take a look at the lease agreement and go over the move out procedure expectations in terms of cleaning and damages.  Also, I would verify your property manager had the tenant sign an inventory and condition form when they moved in.  

I use Immaculate Carpet Cleaning.  They do many apartment communities, single family detached, and work with property managers.  I have worked with them for several years.  Good pricing. 

@Adriana Diaz have you had any showings?  Has your agent given you an idea of days on market for this rental home?  I suggest to start with verifying the home is accurately listed on the mls.  Next, I would make sure the home is 100% move in ready (i.e. no missing blinds, chipped tile, etc...).  And finally, have the home professionally cleaned.  If you have already taken all those steps then it must be a function of price.  Good luck. 

Hi Trevor.  Welcome to BP.  I am happy to provide any assistance.  I have experience in property management, apartment communities, and single family sales.  Reach out anytime.

Thanks

I am still open to investing in Las Vegas.  So long as the property is low on maintenance and in a good area.  I would not buy if I planned to exit the Vegas market in the near future.  But for a long term investment I am all for it.  

I would suggest saving as much cash as possible and paying off as much debt as possible.  When the market turns then invest.