Sell due to clientele?
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Sell due to clientele? (by NE [PA]) Mar 24, 2019 5:55 AM
       Sell due to clientele? (by RB [MI]) Mar 24, 2019 6:17 AM
       Sell due to clientele? (by WMH [NC]) Mar 24, 2019 6:27 AM
       Sell due to clientele? (by WMH [NC]) Mar 24, 2019 6:29 AM
       Sell due to clientele? (by Ken [NY]) Mar 24, 2019 6:31 AM
       Sell due to clientele? (by Jim In O C [CA]) Mar 24, 2019 6:53 AM
       Sell due to clientele? (by Richard [MI]) Mar 24, 2019 7:21 AM
       Sell due to clientele? (by David [MI]) Mar 24, 2019 7:25 AM
       Sell due to clientele? (by elliot [RI]) Mar 24, 2019 7:53 AM
       Sell due to clientele? (by JB [OR]) Mar 24, 2019 8:23 AM
       Sell due to clientele? (by Robert J [CA]) Mar 24, 2019 8:35 AM
       Sell due to clientele? (by Moshe [CA]) Mar 24, 2019 9:45 AM
       Sell due to clientele? (by fred [CA]) Mar 24, 2019 11:23 AM
       Sell due to clientele? (by Sisco [MO]) Mar 24, 2019 11:47 AM
       Sell due to clientele? (by BRAD 20,000 [IN]) Mar 26, 2019 6:55 PM
       Sell due to clientele? (by plenty [MO]) Mar 26, 2019 7:12 PM

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Sell due to clientele? (by NE [PA]) Posted on: Mar 24, 2019 5:55 AM
Message:

Have you ever sold a property due to the type of tenants it typically draws in? I have a tiny little house that I rent out. The amount of riff-raff that has to be vetted is much higher than normal units. I think due to its size and the price is low. It won't rent if I raise the rent. The thing cash flows like crazy when it's rented though. It just takes a little longer to find a passable tenant than my regular units. --50.107.xxx.xxx




Sell due to clientele? (by RB [MI]) Posted on: Mar 24, 2019 6:17 AM
Message:

Riff - Raff. --184.53.x.xx




Sell due to clientele? (by WMH [NC]) Posted on: Mar 24, 2019 6:27 AM
Message:

EVERYTHING attracts riff-raff but with pre-screening I never meet or talk to them, I just see them flow by in the spreadsheet ;) But our small studios DO get a lot of attention from losers.

They are TINY tiny. My ad title starts with "Starting Over?" The text talks about how you have to creative in your decor to make it work.

My target is older downsizing or just-getting-divorced people with pets.

It works, we get good people in them. --50.82.xxx.xx




Sell due to clientele? (by WMH [NC]) Posted on: Mar 24, 2019 6:29 AM
Message:

But you do have to weed through the chaff. --50.82.xxx.xx




Sell due to clientele? (by Ken [NY]) Posted on: Mar 24, 2019 6:31 AM
Message:

I have but then I am way quicker to sell a place than most anyway.I had a 4 unit in a 1 family neighborhood in a poor city,long walk across a bridge that was very windy,no tenants there have cars it seems and no one would stay past winter after walking across the bridge a few tines,had a nice parking spot but no one could keep a car long term. --72.231.xxx.xxx




Sell due to clientele? (by Jim In O C [CA]) Posted on: Mar 24, 2019 6:53 AM
Message:

My very first rental that I bought in 71 ,I sold it in 89. More of the homes in the area had bars on the windows then didnít have bars on the windows. The neighborhood went downhill along with the tenant pool. SELL. --99.23.xxx.x




Sell due to clientele? (by Richard [MI]) Posted on: Mar 24, 2019 7:21 AM
Message:

Considering that you have a pretty constant stream of new properties available, wouldn't it be better and less frustrating to just sell this place and replace it with a better one?

Plus, we're likely near the top of the current cycle as far as prices go. Many places near where I am have doubled in the past 2-3 years (the lower priced places,that is). It's not a bad idea to take profits near the top and you can always delay taxes with a 1031 exchange or by doing deals in your ROTH IRA.

Personnally, I prefer not dealing with problem people. There are agencies who's purpose is to do this. Not me. --23.121.xx.xxx




Sell due to clientele? (by David [MI]) Posted on: Mar 24, 2019 7:25 AM
Message:

How much longer does it take to fill? Take the cost of the vacancy into account when you calculate cash flow.

"But you do have to weed through the chaff. "

I estimate I get over 100 inquires and only 1 or 2 are qualified . The unqualified ones either prescreen themselves out in their zillow questionnaire or my phone prescreen eliminates them.

It doesn't bother me as it only takes one minute to prescreen them out. Really the only issue is how much longer the vacancy is. But you are posting in March, and here that is still dead time and the true renting period for me is between memorial day and labor day. --50.4.xxx.x




Sell due to clientele? (by elliot [RI]) Posted on: Mar 24, 2019 7:53 AM
Message:

If it bothers you, adds stress to your daily operation, get rid of it.. otherwise, keep it for the good return.. --71.232.xxx.xxx




Sell due to clientele? (by JB [OR]) Posted on: Mar 24, 2019 8:23 AM
Message:

NE, is there anything thing you can reasonably do that would change the perception of the property? Can you give it a facelift inside or outside in a way that might attract some better prospects?

Landscaping, curb appeal, new front door, new front window, new paint, carport, etc... --24.20.xxx.xxx




Sell due to clientele? (by Robert J [CA]) Posted on: Mar 24, 2019 8:35 AM
Message:

I had a single family home for around 32 years. It was a large home, 2000 square feet in a good neighborhood. The first 10 years I had the best tenants, family oriented. Then as the rents went up and the market got more expensive, a simple family couldn't afford this rental anymore so I got "groups" living together. Someone always moved during the first year of the lease and their replacement tenant was horrible, leading to a breakdown and joy of living together.

I was over joyed to dispose of this rental two years ago, leaving those problems behind. --47.156.xx.xx




Sell due to clientele? (by Moshe [CA]) Posted on: Mar 24, 2019 9:45 AM
Message:

" Have you ever sold a property due to the type of tenants it typically draws in? "

No, but I keep the properties that I have because of the good quality of tenants that it attracts.

--47.139.xx.xxx




Sell due to clientele? (by fred [CA]) Posted on: Mar 24, 2019 11:23 AM
Message:

I had a nice little 3+1 in a tree lined street, bought in in the 70's.

Then the 90's rolled in and I asked myself: Do you want to continue and hold on to this house? The street turned into trash lined street.

The the tenant asked me about an option to buy, he also mentioned that he can renovate it with free material thru his job (wink, wink).

I said: why not buy it straight away?

He secured a few private loans and was able to buy it. Then he fixed it up while living there and today the house looks way too good for the neighborhood. He managed to get $575K for it in January 2019 and the new owner just listed it for rent for $3,400/mo (He will be lucky to get $2,400).

--99.59.x.xxx




Sell due to clientele? (by Sisco [MO]) Posted on: Mar 24, 2019 11:47 AM
Message:

Yes I have sold management intensive units. They are good for newbie landlords, but incompatible for higher levels of property management.

NE, we are all limited by time constraints this unit doesnít provide you with anything but problems absent a constant input of your time.

--72.172.xxx.xx




Sell due to clientele? (by BRAD 20,000 [IN]) Posted on: Mar 26, 2019 6:55 PM
Message:

NE,

Lifeís too short to put up with difficult properties,

And itís time for you to take your business to the next level.

Me? Iím in this for FREEDOM!! I do a 5 year study on Quicken to determine the true income provided. Iíve had properties I THOUGHT were good but the numbers showed otherwise.

And I add the hassle factor - in addition to turnover costs which will show on the Quicken report, each turnover gobbles up $1000 of YOUR time and FREEDOM!!!

We had a great executive home we were ďsavingĒ in case we wanted to downsize someday. It was bringing in top rent but every other year was some kind of major repair or costly eviction (BZT - before ZT). Over the past 5 years we averaged only $6/mo profit on this ďgreatĒ house, so the house was worth about $3 a month net income.

We threw in some upgrades and sold it for a $27,000 profit.

Had another small house with turnovers. We made the front ultra cutesy and minor upgrades inside. Costs were minimal because it is SMALL. Rented immediately and she stayed...because itís cute.

BRAD

--73.102.xxx.xxx




Sell due to clientele? (by plenty [MO]) Posted on: Mar 26, 2019 7:12 PM
Message:

Can you pump up the cute? Ikea cuteness? Add a patio so it extends the living space? Ikea closet kits... wifi exhaust fan ( so fun) add some specialness? Pump up the reasona to stay? Add bonus! --99.203.xx.xxx



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