All Forum Posts by: Philip Johnson

Phillip,

I would list the property Zillow, Trulia and Hotpads to start.  Then also look for facebook groups for the city of the property.  You can use software to handle the prequalification, application and tenant screening and then hire an agent or someone in the area (temp or whoever will handle maintenance, as you suggested) to show the unit.  If you want to learn more from a software standpoint, you can private message me and I can help walk you through the process.

This is very helpful. I live in WA and have one single property for rent in WV. For now I self manage and collect rent. All this info is very good and I’m taking down some notes.

@Philip Johnson there are property managers that offer a la carte services. Or you can list it with a realtor

@Jason D. If you have just the one property and that market is 1000 miles away then I would agree you should hire a property manager.

Most of my properties are a similar distance away and I self manage. The way I find tenants is by making sure the property is spiffy, listing it on Zillow and other websites, putting a lock box on the door and then making sure I am screening the tenants before I let them go into the house. I get identification before I give them the lock code so I know who is going into the house. In my case I have more than one house in the area and so my efforts to commute in and out of the area can be scaled against different houses and staying active in the community. But if I had one house and I have a market where I have one house, I would get a property manager and be done with it. One last thought www.rently.com has a lock box digital program and screening tool you might want to consider if you want to do it your self. Good luck!

Hire the property management company for tenant placement. It gets difficult showing the property without boots on the ground. There are shady people out there. I've heard of the lockbox technique but I wouldn't trust them to stroll around my home without an escort. I also want to have someone available on site to ensure a quick and timely screening. 

List the property yourself via Zillow Rental Manager and get syndication on Zillow/Trulia/Hotpads. Post on Craigslist.

Do you know someone you can trust in the area who you can offer the keys to and pay them for each scheduled showing? Pay someone per visit to do group showings, once a week let's say. 

Have the tenant submit applications directly to you. You handle all the screening process and only pay your person who's doing the weekly showings.

Limits your costs as long as there's someone you can trust who youre' comfortable with.

@Philip Johnson hire a property manager to find and place a tenant. They'll probably charge you one months rent, but then you can do everything else.

I will be making a trip to Los Angeles in early June and wanted to connect with individuals that are currently investing in, or interested in the Indianapolis market! Open to attending meet-ups or networking groups to share some of my market knowledge with others. Any recommendations or advise would be greatly appreciated.

Cheers!