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All Forum Posts by: Scott Garrels

Scott Garrels has started 8 posts and replied 38 times.

Post: Tenant Contact and Rental ads

Scott Garrels
Posted
  • Rental Property Investor
  • Cedar Rapids, IA
  • Posts 38
  • Votes 7
Originally posted by @Paul De Luca:

I received tons of inquiries for my rentals through Facebook Marketplace, far more than what we received through Zillow or Apartments.com. A sign in the front yard is always a good way to generate interest as well.

You don't need to wait until after closing to build your file on the current tenant. You should have their lease and contact information before closing though. If you need to contact them directly I would either make your request through the seller or wait until after closing to contact them directly.

@Paul De Luca, Thank you for this reply.  It is truly appreciated and I will look into FB Marketplace today.  

Post: Tenant Contact and Rental ads

Scott Garrels
Posted
  • Rental Property Investor
  • Cedar Rapids, IA
  • Posts 38
  • Votes 7

Hello BP team.  I am in the closing process on my first tri-plex property where there are two empty units currently.  I am looking for advise on two points.  

First, what is the best way to quickly get ads placed to begin getting calls to fill the empty units?  They are ready to go now.

Second, must I wait until after closing to contact the current tenant to begin building my file on them as well?

Maybe I am being too excited?  Thank you for any advise you can give me to get started right.

Post: Who's buying properties right now?

Scott Garrels
Posted
  • Rental Property Investor
  • Cedar Rapids, IA
  • Posts 38
  • Votes 7

@Paul DeSilva. From the comments here it sure sounds like a lot of FOMO. Just like the stock market right now.

Isn’t anyone concerned that the Unemployment levels are going to slam down hard once the moratoriums are over??

Post: Offer Contigency Optiins

Scott Garrels
Posted
  • Rental Property Investor
  • Cedar Rapids, IA
  • Posts 38
  • Votes 7

@Andrew Syrios Thank you for your reply.  I understand the balance you are trying to find between price and other terms.  Good point to consider how they can put one another in a more risky position as well.

Post: Offer Contigency Optiins

Scott Garrels
Posted
  • Rental Property Investor
  • Cedar Rapids, IA
  • Posts 38
  • Votes 7

@Tom S. Thank you for your reply.  I understand your point here as well.  Appreciate he insights.

Post: Offer Contigency Optiins

Scott Garrels
Posted
  • Rental Property Investor
  • Cedar Rapids, IA
  • Posts 38
  • Votes 7

@Bill B. My apologies for the confusion, but I think you have clarified nicely here.

I was primarily speaking from the buyer perspective that the main concern is to determine the seller motivation then you can properly assess which contingency to adjust or which to be sure are in place.  Thank you for the clarification

Post: Offer Contigency Optiins

Scott Garrels
Posted
  • Rental Property Investor
  • Cedar Rapids, IA
  • Posts 38
  • Votes 7

@Bill Brandt Good point! And is appreciate the response here. So not really a concern of standards but more about what the hot button is if I read between your words, right?

Post: Offer Contigency Optiins

Scott Garrels
Posted
  • Rental Property Investor
  • Cedar Rapids, IA
  • Posts 38
  • Votes 7

So when you submit an initial offer on a property are there any standard contingencies that go along with it?

For example, if you submit a lower then asking offer but non-contingent upon an inspection, would this be an enticement or are there other things that should be considered?

I know there are all sorts of ways to do it but curious if there are any items considered as standard? Thanks for your insights.

Post: Negotiating for Beginners - tips and secrets

Scott Garrels
Posted
  • Rental Property Investor
  • Cedar Rapids, IA
  • Posts 38
  • Votes 7

@Elizabeth Harding

Thank you for your reply.

I will check out the book you mentioned here. Thanks for that tip.

Post: Starting an LLC - who you gonna call?

Scott Garrels
Posted
  • Rental Property Investor
  • Cedar Rapids, IA
  • Posts 38
  • Votes 7

@Nate Marshall Thanks again for the insights here that you have provided.  I do get how this structure provides the benefits you describe here.  It also makes sense for me to organize the various companies in this manner.  I come from an aviation company background and they utilize a similar structure for the various businesses they have as well.

Happy Labor Day to you!