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Watch a Single Family Rental Turn Over: Ask Away

jon.a

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jon.a

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Your competition sucks.
Yup. I couldn't have set that up myself better. We're in a very narrow niche. Small houses at an affordable price. We own about half of the inventory in town.
 

jon.a

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Posted the listing yesterday.
One guy looked with Mrs. jon last night, he passed her gut check. He's supposed to drop his application off today.
6 more are scheduled for a showing at 6pm tonight.
 
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jon.a

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jon.a

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I suppose it's a good thing when the prospect has a better credit rating than the landlord :)

We chose one.

The one with the credit score higher than ours.
He's stopping by tomorrow to sign the lease and pay to rent immediately.
Cost? 4 days rent, about $160.
 

SteveO

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It is nice when the process is this easy! Great job Jon!
 
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jon.a

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Here's how some would had done this...

I can get $1350 dammit, I'm going to get $1350. I'm not giving away $1200 of annual income.

Probable results...
One month or more on the market, at least $1350 lost.
The better qualified candidates rented elsewhere.
Lower down the food chain.
Trashed house, repair and maintenance costs, thousands.
Late rent, pain in the a$$ and bad for cash-flow.
Eviction, takes forever in CA, plus lost rent plus legal fees, thousands.
List again, let's waste more time and money.

We got to pick from the best and chose a great one!
 

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Bouncing Soul

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Your properties were exactly the type we always looked for when we rented. Only bad experiences I've ever had with a landlord were from the "professional" companies, properties like this one always ended up a great match for all.

Would love to read your comments about inherited wealth, we've been working on our trust and it's brought up lots of questions...
 
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jon.a

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Your properties were exactly the type we always looked for when we rented. Only bad experiences I've ever had with a landlord were from the "professional" companies, properties like this one always ended up a great match for all.

Would love to read your comments about inherited wealth, we've been working on our trust and it's brought up lots of questions...
Should I do an AMA on managing trusts?
 

Bouncing Soul

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Should I do an AMA on managing trusts?

Sure- we will not be inheriting anything but bills, but if the bus hit us on date night tomorrow, our kid would be wealthy. Love to hear anything you'd be willing to share.
 

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