All Forum Posts by: Teresa F.

Hi Larry,  www.SocialServe.org (it may be .com) and www.GoSection8.com.  Hope that helps.  Teresa

Hi Arianne,  Helpful or not she did not submit YOUR offer.  I suggest you talk with her and ask if she misunderstood or why she submitted what she did.  I also suggest you speak with her broker.  I would want to know if an agent was not following a client's instruction.  Calling the bank or the listing agent wouldn't be particularly helpful as your agent is supposed to be their point of contact on your behalf.  Your goal is to have your offer accepted, so talk with your agent and her broker and figure out what needs to be done to get this back on the right path.  Best, Teresa

Hi Jonathan -- I always have applications there and I do an open house.  Everyone comes at the same time.  I find this creates some competition and a feeling that if they want it they must move quickly.  

When marketing  I target my ads to the tenants I want , i.e.,  certain professions get a very low security deposit.  

Finally, may want to lower the rental rate and have the tenant pay for the alarm system monitoring if that is an option for you.  That way the "security alarm" is there if they want it but it is not "necessary."   Best, Teresa

Hi Jaelyn,  Great post.  Sounds like Dr. Joe was your speaker.  I would add a few things.  First, expect repair requests during the first two months of a new tenancy.  Just build that into your time and potential expenses.  Second, minimize surprises to your tenant.  All of my tenants know that they will have a rent increase annually.  It is discussed at lease signing and two months before renewal they are informed of their rent increase and asked whether they plan to stay.  Last, if you can't afford to buy in a good neighborhood now buy in the neighborhood that will be good. Our market is pricey.  But if you pay attention to where the local government is spending money you may be able to purchase if an area that  will be much improved later.  Best, Teresa

Hi Laura,  May take a bit more time but will probably be less expensive and "more custom" is to go to places that recycle building materials.  Habitat for Humanity has stores and we have a great store here called Community Forklift.  The materials change constantly and range from brand new, antique, and trash.  Since I despise installing the Big Box 10 for $20 light kits, I try to find some interesting lights from these places.  Another option for brand new would be IKEA.  I helped a friend completely rehab  a kitchen using IKEA and did it for less than 7K.  Best, Teresa

Hi Michael -- Hopefully some NJ folks will chime in.  Two thoughts --  in DC you have to give 30 day notice prior to filing for eviction unless the lease specifically states that the tenant is waiving notice.  You may want to see if New Jersey has some sort of similar law.  Second, check state, county, and local rules regarding pets.  Certain counties in Maryland have breed restrictions.  When an applicant answers "yes" to pets, they get my pet application which requires a picture of the pet.  At lease signing or move in, I want to see the pet.  Best, Teresa

Hi Luka,  my process is similar to Justin.  When a new tenant moves in I expect to hear from them a lot during the first month or two.  Generally small fixes or questions re utilities, neighborhood, etc.  Since you are starting out I want to point out that in most places you just can't "show up" and check on your tenants.  In my lease I need to provide 24 hours notice unless it is an emergency.  Many areas have laws requiring some sort of notice be provided before you enter a property.  Best, Teresa

Hi David,  Always happy to help a fellow investor.  I am a buy and hold investor who left my job as a lawyer to invest full time.  About three years ago I became a real estate broker and opened my brokerage.  Any more specifics, just ask.  Best, Teresa

Hi Margo. Glad to see another neighbor investor. Welcome to BP. Just getting started and already have an LLC set up! Lots of helpful people here and if I can be of help, just ask. Teresa

I would not.  I have a process and part of that process is proof of income.  Teresa