All Forum Posts by: Brad Ratushny

This may seem like a silly question, but are garage rental applications standard?

@Michael Seeker, you have an interesting approach to accepting deposits to your bank that I haven't heard. 

"For the tenants that can't or don't want to pay electronically, I tell them to deposit rent to my business checking account ending in x9999 at ABC bank which is enough information to make a deposit but not do anything detrimental."

Are you saying you literally have them go to ABC bank and deposit their rent into Michael Seeker's Business Checking ending with your last few digits and the bank doesn't give them problems or mess up?

@Oren K. and @Justin Fox thank you both for your thoughts.  I'm using my current situation as a way to get better at budgeting and was curious how others are doing it.  Thanks a ton!

Good Morning All,

I was hoping to get your feedback regarding how you look at repairs, make ready costs, and renovations.

My challenge is I've seen the advice to budget for 5%-10% for repairs and maintenance.  When a vacant unit needs $1000-$1500 to bring it up to market condition this 5%-10% is quickly blown.

Am I looking at this wrong?

I second @Shawn Ackerman's comment to share the hard numbers with us so may be able to help more.

I feel with a 10 unit you can expect a certain level of professionalism.  I would not feel bad pushing him for copies of this utility bills.

As for the tenants have you thought of allowing him to label the tenants #1 - #10 so he can share info earlier in the process.  I'm not trying to imply you shouldn't also require the contingency mentioned.

Good luck Jordan.

If I were you I would definitely look at this one further.  It passes plenty of sniff tests.  I'm curious to know where their actual expenses are.  That would help your cash flow.  I assume you are also use a place holder interest rate.  If you can get that down a percent your CF would go us as well.

I'd be curious to know how this plays out for you.   Good luck Garrett.

I just wanted to take a minute and follow up this post from 6 months ago.  I've since become a DIG member and couldn't be more impressed with what they have to offer.  Highly recommended!  Thanks to @Steve Babiakand @Jonathan Emerywho recommended I attend.

Has anyone had experience with "Apartment Preparation or Turnover Services".  I found a few listed, although not in my area and was wondering if there was a different better term to search for.

Thank you very much Jeff.