All Forum Posts by: Bettina F.

We once found someone's ashes in an urn.  We didn't want to throw it away -- too sad. We gave it to another tenant who was friendly with the one who had done the midnight moveout.  The midnight mover left owing us money, so we knew the tenants were not going to tell us where the mover went.  We left the urn with the friend "in case you hear from so and so".    Grandma never resurfaced, so hopefully she is resting peacefully. 

Actually we use National Credit Reporting and get a full credit report from TransUnion.  Glad what you use is working for you.  How do you verify ID without a SSN?

6 unit multiplex. Easy, peasy. Could easily do triple that. We bought a run down, fully occupied building. As the units have turned over , we did major renovations. The workload is full-tilt, 150% during renovations vs 4 hours a week -lawn moving and book keeping when full. We are three years into owning this building. The first year was hard work. Since we are mostly renovated, we rarely get maintenance calls. We screen very well, our tenants abide by their contracts, and things run smoothly. It helps that we are hands on and visible to our tenants. I think the "number to manage" would depend on the age and condition of the buildings. Multiplex is easier than SFH.

Have your tenants sign the lease the night before, collect your SD and rent, and hand over the keys.  I have done that with fully screened tenants who have paid all move-in fees.  It seemed silly to let the apartment sit vacant overnight when tenants wanted a jumpstart on moving.   I have never had a problem doing it this way, but I screen thoroughly.  Also, you could just change the date on your lease and give them a free day.

If you give keys before the lease signing and collecting money, the danger is that the tenants could refuse to sign or pay, claim tenancy (since you gave them keys).  You would face a long and expensive eviction while they lived rent free in your house for several months, destroying it along the way.

Have your tenants sign the lease the night before, collect your SD and rent, and hand over the keys.  I have done that with fully screened tenants who have paid all move-in fees.  It seemed silly to let the apartment sit vacant overnight when tenants wanted a jumpstart on moving.   I have never had a problem doing it this way, but I screen thoroughly.  Also, you could just change the date on your lease and give them a free day.

If you give keys before the lease signing and collecting money, the danger is that the tenants could refuse to sign or pay, claim tenancy (since you gave them keys).  You would face a long and expensive eviction while they lived rent free in your house for several months, destroying it along the way.

Do you have your system in place to screen tenants?  When we were starting out in 2013, we had to have a home visit to make sure our home office was secure; we had security in place on our business computer, marketing plan,etc.  It took a couple of weeks to get the visit scheduled and for us to be approved so we could run credit checks.  I realize the new on-line systems may make it easier, but there may be an approval process.   In 2013, we were told that the home visit was needed to comply with the revised credit laws since the 2008 crash, and that we were a legit business and not ID thieves.  The last thing you want is an eager applicant, and you have no way to screen them.  I would be spending my time getting an application,  lease and tenant screening systems in place while waiting for the property to close.  

Thoroughly air the apartment out (second floor -- should be able to open windows).  Set fans.  After a day, the fumes will be gone.  Send a letter to management asking to be notified of any future construction, so they can be ready.

I don't think this warrants breaking a lease. Apartment living is not for everyone. They should probably save their money and either rent or buy their own SFH.

I have heard of LLs doing "ghost postings"  -- they post their rental before it is ready and just gauge the number of phone calls they get.  If they are getting lots of calls, they raise the rent in the actual posting-- if no or few calls, they lower the rent in the actual posting.  They don't collect any apps or fees.

I cannot think of a more socially responsible enterprise than real estate investing in general, and the Bigger Pockets community in particular.

Look at the post topics -- for the most part they are questions from young entrepreneurs working their butts off evenings and weekends (after their W-2 jobs) to build a sustainable financial future for themselves and their families.  This group is NOT into handouts -- but it is into freely sharing information so that everyone has an equal opportunity to succeed.  What could be more just than that?  The hard working man or woman who scrapes and sacrifices to get the seed money to start investing, and then works late into the night to finish that flip or get that house "rent ready" IS helping society.  We are maintaining and improving the rental housing stock for all of society.  

Yes, we are motivated by profit -- but there is nothing wrong with that!  Competition will not let us set our rents too high.  If we do not have a decent return on investment we will not be able to continue to upgrade our properties, or fund major capital needs like new roofs.  The stereotype of the "greedy landlord" is just that.  New landlords are far more likely to err on the side of failing to properly enforce lease provisions -- being too lenient rather than being too harsh.   A lease is a legal contract freely entered into by two parties.  What could be more just than expecting both parties to follow their agreements?  

Wealth is merely deferred consumption.  I am probably older and wealthier than many of the posters on Bigger Pockets.  I was born into a middle class family, went to a state school and still work at W-2 job.  I  did not unethically appropriate my wealth.  I grew my wealth by not buying designer handbags, expensive vacations, or eating out  (deferred consumption).  I grew my wealth by investing nights and weekends cleaning rentals, painting late into the night and screening tenants.  Anyone could have chosen this path, if they were willing to put in the seed money, time and effort.   That sounds socially just to me. 

They are illegals.  If you look on the Department of State website, you will learn that legal immigrants apply for their SSNs at the same time they apply for their visas, while they are still in their home country.  SSNs are supposed to be issued within three weeks of arrival to the US. 

I don't know how you run a credit check on someone without a SSN.  My credit check provider told me it could not be done.