All Forum Posts by: Roy Nash

@John Warren.  Thanks.  Interesting the Facebook add it delivering an incredible number and probably more quality local leads than the Zillow even.  I would not have expected that.  I am going to look at the other you mentioned. 

@John Warren.  Thanks.  Interesting the Facebook add it delivering an incredible number and probably more quality local leads than the Zillow even.  I would not have expected that.  I am going to look at the other you mentioned. 

I have been using Craigslist forever.  A couple of years ago I had a rental and listed on Zillow and Craigslist with somewhat mixed response from each which I attributed to December as being the listing month.  So this time I did not list on Craigslist at all but used Zillow Rental Manager and Facebook.   The response from both was off the hook.  I could not even keep up with all the interest   Tons of people responded on Facebook but honestly its kind of clunky.  Responses are on Messenger which is a pretty frustrating interface for business to be honest.  Zillow Rental Manager however impressed me quite a bit.  I utilized the integrated application feature which I had never done and I REALLY LIKED that.  So easy so seamless really cut the work so much.  I will for sure do that again next time.  I rented the unit in 1 day.  I would be interested in other suggestions especially if anybody has tried Facebook or Zillow and some others as well.  Zillow Rental Manager just made it so seamless and easy.   Are there even better rental interfaces out there?   Thanks!

@Phil Savio @Bud Gaffney @Nathan Gesner @Ross Smith     My experience was similar to Ross Smith's Experience and Nathan G's experience.   From Start to Finish:   (1) Filled out EIDL form on Line  (2) After about a month $1000 just appeared in my account  (3) after another few weeks Got an email from SBA asking me to verify my identity and eligibility  and approved amount.  Note at this point you can adjust downward from from the approved amount if you wish   (4) About a week later received an email from an EIDL Specialist asking for more info regarding ownership   (5) 2 days after that received yet another request from the same EIDL specialist asking for Schedule E from my Tax Form  (6) That same day received a Generic email from SBA saying my loan was approved and to log in to complete the next step which I did.   This next step was an online signing of the Forms.   (7) Heard nothing more but after about 5 days  the requested money just appeared in my account minus $100 for the disclosed Processing fee. 

 I plan to hold this loan to bolster reserves in case rental collections start to degrade.  This may allow  me to continue with other plans I had prior to Covid including potential property purchases if decent deals come up.    I have had better luck than expected so far with Rental collections but that is already degrading this month and next month may be even worse.    

@ Phil Savio...... Same thing happened for me.  $1000 was deposited in my account.  Then I didn't hear anything more for weeks.  After a while received another email asking to verify my information and tells you how much you are eligible for.  I entered the portal and the whole process took about 5 minutes.   At that time you can change the amount requested to anything below the maximum.   Then about a week later got an email from an EIDL specialist asking for more info.   So it sounds like yours is still in process and mine is too.

I am in #2 but I do hire more complicated stuff out sometimes.  Sorry but mostly its just plain easy to collect the rent and deal with the people.   I have 16 units so its not too overwhelming.   I also work full time at a job.   For how easy it is I can't imagine giving a PM 8% of my take.   

You need to ask the tenant what the problem is.  That needs to be clear before you call a repair person.    It looks like the supply tube to the faucet and maybe its leaking?  It could be as simple as just tightening it which takes about 1 minute!  Anyway hard to speculate by just looking a picture without a problem statement.

here are my Stats so far.   I do believe I will end up at 94% Paid but mostly a little late.  I  have 16 doors.

I like Rentometer and use it frequently.  However I would recommend examining every property in the comparable and throw out the ones that are not actually comparable or similar.   This could include both low and high rent properties.  Then do the calculations again manually after exporting to EXCEL.   This may give you a more realistic number.   For example for some of my C Class Duplexes they are near new developments with A Type Duplexes.   The A duplexes rent for at least $200 to $300 more per unit but Rentometer pulls them into the analysis which skews the analysis high.  I throw these out as they are not comparable.   I also still manually search Trulia, Zillow, and Craigslist for comparable properties.   Then I set the rent at the lower end and so it is almost impossible for the tenant to find a lower rent or cannot recover the cost to move due to the difference.    Seems to work.  I have only lost 1 tenant on the last 30 rent raises in the last 2 years  even though the rent raises were super aggressive  (15-20% in 2 years) due to rapidly acceleration of rents in my area !

You have every right to do the inspection in any case even if in YOUR OPINION it requires a professional.   It a tenant ever threatens to move I will usually invite them to do so.  It almost always shuts them down.  However I also address issues either on my own or with Professionals whichever I deem is most appropriate.  You are the Boss.