All Forum Posts by: Orlando C.

I do what brooks mentioned, I wet my finger on every pass.  Work great, and I think the trick relies on how big you cut the tip.

Just my 2 cents.  The properties I hold are not affected by heating costs, but are in Puerto Rico, one of the highest electricity rates on the US.  On the units that electricity is included, my tenants only have the option of gas stoves and units that tenants pay their bills they can install either or.  In either scenario I do not provide any appliances, reason is that it lessens the chance of receive a middle of the night phone call because the appliance broke or hiring repairmen for that matter.  If the tenant does not have appliances there's always places long-term rental stores.  Hope this gives you an insight.

When I hire a contractor I first and foremost make sure they are licensed and insured. Bad things happen when hiring under the table "contractors". Then I make sure the work order has every detail of what I need including time frames and a set rate. That way if the contractor takes 2 weeks on a 3 week project my and his win. If he takes longer you set clauses about a charge back "fines" for every day over the contracted time. Obviously, stuff like 'Acts of God" might delay your project but it is a minimum risk. This makes sure that you are dealing with a professional and responsible contractor OMO. Sometimes cheap labor could be costlier on the long run, i.e. vacant unit for longer time frames, accidents, liability for hiring unlicensed contractor.

In my market, some landlords provide them and some do not, I tend not provide any appliances. On my opinion tenants tend to have a sense of "home" when they have to provide their own appliances, I do provide them with a truck and driver if they need assistance in moving in. That way tenants will tend to stay for a longer time, and I won't have to deal with broken appliances. Also, on my market the nicer units, usually do not provide appliances, I tend to have my units up notch, so I can attract quality tenants. Just my 2 cents...

I have a bank account, with the major bank in my area (PR) that I use just for rent deposits. Bank name, routing number and account number is included on the rent contract. bank has locations everywhere, have locations that opens on weekends and extended service hours. So, no hassle for me to track them down, no checks to deposit, no cash to worry about, just a quick look on my smartphone and I see the funds. Tenants are advised to keep bank receipt as proof of payment. It has worked extremely well for me. Given, that I've been renting for about a year, but no issues at this time with this approach. Hope it helps!

Just wanted to let everyone know, what I've decided to go and has worked really well for me. I got an account with the major bank in PR, and my tenants must deposit by the 5th of ea month. Tenant has bank receipt as proof, and I have the funds available immediately. No cash, no trips to the bank and/or properties.

My goal is to invest and work as an agent... That's why i'm highly considering jumping in both feet.

Thanks everyone for your replies. I'm looking into some payment books with my local bank that way they can pay at the bank, atm, phone or online. Any thoughts?

Hi, I'm just starting out as an REI and currently taking the RE Broker course to have the license here in PR. Should I jump both feet into a brokerage or part time. I'm currently employed full time. Thanks,

Hello,

I'm just starting out and about to rent my firsts apartments, just bought a 4 unit currently under renovations. I'm just wondering, how do you guys collect your rent?