All Forum Posts by: Nadir M.

@Jennifer Z. How do I know what kind of formats are used, In a specific market, by applicants to find their next residence?

@Mary M. Yes, one property was listed for $1900 but was bigger and more upgraded. Another listed for $1695 bit more upgraded but one less bath.

Recently closed on a house and just listed for rent. Been listed for rent for four days now and only had one application. Applicant credit score too low so decided to pass. We are approaching the Winter season and it’s obv Thanksgiving week so I figured it’d be slow trying to find a tenant. Current Zillow rent price is $1550 and I listed for $1600. House it a bit dated but in a great neighborhood. One bathroom doesn’t have a shower, just a tub, but master bathroom has a full bathroom. I’ve listed the house on Zillow, Cozy.co, And Turbotenant. Since I’ve listed on these three sites, my property gets advertised on many different sites by default. My question is, do I stay a bit more patient at $1600 and wait until week after Thanksgiving is over then reduce price? I don’t like the idea of placing a for rent sign outside house or listing on Craigslist. Thoughts on both?

So do I keep price, adjust price, advertise house differently...any help is appreciated

Thank you,

@Cara Lonsdale

In regards to Redfin, I didn’t use that site specifically but I did sign-up with Turbotenant and that site advertises my listing on Redfin by default. I feel like I’ve advertised as best as I can utilizing all possible sites. I will ultimately use Cozy.co when I find a tenant and set up payments etc. I don’t expect much action being a holiday week and this time of year. Will stay optimistic and see what happens.

@Mike McCarthy correct. I bought lease from BP. They have most of laws documented in lease. It’s not everything but it’s a great start

@Kristi Mergenhagen

Thank you for the information. I’m sure there is great feedback and learning opportunities

Thank you

Hi Cara,

Going through policies, you brought up many great points of things to include in the listing. Is there a breed of dogs that you will absolutely not accept and if so, how do you proceed with notifying/denying a tenant? I also made sure to include that a minimum credit score of 600 is a must. 

Love the Tenant binder idea. Never crossed my mind. I think that's huge and will also reduce the numbers of times my phone will ring. I definitely need an all around handyman. This is something I'll need to work on asap. 

A problem I find while advertising on Zillow is that when potential Tenants apply for my listing, they apparently pay a $30 fee for using Zillow. This allows them to apply to as many properties as they want within a 30 day period. If I use Cozy.co for the background and credit check, then they'll need to pay the $40 in order to run those reports. So i'm think of keeping Zillow to find a Tenant but also list the property on Cozy.co and run all managment through Cozy.co. What are you thoughts? Why would I want to have Tenants who uses Zillow more now to use Cozy.co. Seems like they'll just ignore the listed due to the added expense UNLESS they're really interested in the property. Does that make any sense? 

I recently bought my third rental property. The other two are currently managed by my PM. My wife and I want to attempt to manage this one by ourselves. Personally, I want to hand it off to my PM but she really wants to gain the experience of managing on her own. This is an out of state deal. Parents live in the state where this house is located. I have a reliable HVAC and plumber. The house is in good standing condition. I wanted to write a post to get some suggestions or advice before attempted to self manage. I’m using Zillow to advertise as well as running a background check. Using Cozi for collecting rent. My lease I bought from BP. What are some rookie mistakes that are made and how can I prevent them?

Thank you,

@Forrest Faulconer

Very true. Holding on to some cash is not a bad idea. The house I’m under contract on right now is a great property, in my opinion, in a desirable area. Would cash flow in a good or bad market. I don’t think it would be a gamble per say. Can’t go wrong in real estate. Everyone needs a place to live

@Adam Apalategui

I’m currently in the process of refinancing two investment properties, my own personal residence, and purchase of a new property with Citi Bank. I would say it’s been quite a ride. Been working with them since late May. Apparently the struggle seems across the board. They lock the rates until they close on these loans so it kept me patient. Not sure if I recommend Citi. I’m sticking with them because I get a discount on rates since my spouse works there.