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Sachinfan
Celebrity Bewarse
Username: Sachinfan

Post Number: 36585
Registered: 10-2010

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Posted on Thursday, September 02, 2021 - 6:51 pm:   Insert Quote Edit Post Delete Post Print Post

Entre tatha.. 7 years into it. managing multiple properties.. worked out well for me so far.

Condo vs townhome is always debatable pros and cons for both. deeniki separate post kavaali.

warranty - there is no best company. all are same in terms of coverage. you just do your shopping to find the best price. I prefer 3 year terms but they ask for AC/Heat maintainence receipts.

Handyman stuff - except plumbing everything else is easyfix and easylearn. but I never go to my tenant's house to do their toilets. Having a reasonable handyman at hand is a must.

traditional real-estate sites like zillow redfin daati vere explore cheyalsina avasaram raledu. never rented to a desi so far. may be because of zillow/redfin. desi go for sulekha etc.

rental laws typically are in favor of tenants. but it depends on state. VA is reasonable for landlords as well.
Signature... inka edi decide kaaledu CLIPART--smoke
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Chiru_fan
Pilla Bewarse
Username: Chiru_fan

Post Number: 775
Registered: 04-2017

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Votes: 0 (Vote!)

Posted on Tuesday, August 31, 2021 - 7:20 pm:   Insert Quote Edit Post Delete Post Print Post


Musicfan:

All my friends had bad experience maintaining the first house when they moved to a bigger house and they sold off after trying renting for 2-3 years.



I Did the same thing
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Andhravodu
Kurra Bewarse
Username: Andhravodu

Post Number: 3439
Registered: 04-2017

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Posted on Tuesday, August 31, 2021 - 10:45 am:   Insert Quote Edit Post Delete Post Print Post


Kodibochu:


It was a generalized statement :-) but I do see that Chinese and eastern europeans have the chops to do renting but for us, the setup has to be perfect

naa old chinese colleague brought a rental in Orlando during 2008 downturn for cheap. He has now 3 of them nearby and wants to retire from his job in NJ and do property management for these places in Florida

On other side, my old Andhra friend brought cheap townohme in Florida, brought one more townhome, and now sold all of them after this new valuation and moved to NC mountains
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Kodibochu
Yavvanam Kaatesina Bewarse
Username: Kodibochu

Post Number: 6914
Registered: 04-2019

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Votes: 0 (Vote!)

Posted on Tuesday, August 31, 2021 - 10:34 am:   Insert Quote Edit Post Delete Post Print Post


Andhravodu:

renting anedi enduko manollaki work avadu.




hmm.. Nenu inkaa manolle baagaa chesthunnaaru anukontunnaanu. Naaku thelisina vaalla lo chaalaa mandiki 5 homes to 30+vunna vallu vunnaaru.
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Musicfan
Bewarse Legend
Username: Musicfan

Post Number: 72235
Registered: 05-2004

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Posted on Tuesday, August 31, 2021 - 10:20 am:   Insert Quote Edit Post Delete Post Print Post


Andhravodu:

I think it's because we want to see the money in our accounts




Correct, mainly they want the EMI's and maintenance to be taken care off by the rent and see some additional income in the accounts.

Also they want to not work on weekly basis as they think that is too much to handle.

For my friend who last month sold his house, the complaint was he needs to come to the house atleast once in 15 days. Even though he moved to a house that is 6 miles away from first home.
No reviews yet
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Andhravodu
Kurra Bewarse
Username: Andhravodu

Post Number: 3438
Registered: 04-2017

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Posted on Tuesday, August 31, 2021 - 10:09 am:   Insert Quote Edit Post Delete Post Print Post


Musicfan:


renting anedi enduko manollaki work avadu. I think it's because we want to see the money in our accounts

maa pakkana houses chinese maintenance, they have been doing this for 15 years atleast, and will do it even after we sell our home
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Musicfan
Bewarse Legend
Username: Musicfan

Post Number: 72231
Registered: 05-2004

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Posted on Tuesday, August 31, 2021 - 9:13 am:   Insert Quote Edit Post Delete Post Print Post

All my friends had bad experience maintaining the first house when they moved to a bigger house and they sold off after trying renting for 2-3 years.
No reviews yet
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Kodibochu
Yavvanam Kaatesina Bewarse
Username: Kodibochu

Post Number: 6913
Registered: 04-2019

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Posted on Tuesday, August 31, 2021 - 9:01 am:   Insert Quote Edit Post Delete Post Print Post


Andhravodu:

I got it done within 2-3 days




area ni batti vuntundemo? Minimum 5 days paduthondi naa property vunna area lo. So, never renewed it.

Pedha issues kudaa yemi raaledu ippati varaku..
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Andhravodu
Kurra Bewarse
Username: Andhravodu

Post Number: 3437
Registered: 04-2017

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Posted on Tuesday, August 31, 2021 - 8:58 am:   Insert Quote Edit Post Delete Post Print Post


Kodibochu:

Took choice home warranty for the first 2 years, but never used it. The tenants need the service right away( it is understandable), but it takes lot of time with the warranty companies to get any issue fixed


Been using Choice home warranty for past 2 years. I need to start that they have a court case running on them by state of Arizona

but in my experience, they were always fast in getting things done. Even AC repairs, I got it done within 2-3 days

I pay for the yearly premium plan which costs like 600$. I got calls from them to take the cheap 5 year plan which costs half of it, but I've seen it doesn't cover important things

my friend says to dump choice warranty as soon as possible though. I will do it by Jan-2022
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Kodibochu
Yavvanam Kaatesina Bewarse
Username: Kodibochu

Post Number: 6912
Registered: 04-2019

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Posted on Tuesday, August 31, 2021 - 8:47 am:   Insert Quote Edit Post Delete Post Print Post

Will I go for another rental property in future?

No. Considering my age, my goal is to clear all the debts(mortgage and my daughter's student loan) as early as possible.
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Kodibochu
Yavvanam Kaatesina Bewarse
Username: Kodibochu

Post Number: 6911
Registered: 04-2019

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Posted on Tuesday, August 31, 2021 - 8:43 am:   Insert Quote Edit Post Delete Post Print Post


Entrepreneur:

How to handle a bad tenant? Court order process?




Normally, I pay year fee for legal service(suggested by my property manager). it is some kind of legal insurance. If anything happens like this, the law firm handle the bad tenant. But, I never needed to use it.
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Kodibochu
Yavvanam Kaatesina Bewarse
Username: Kodibochu

Post Number: 6910
Registered: 04-2019

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Posted on Tuesday, August 31, 2021 - 8:40 am:   Insert Quote Edit Post Delete Post Print Post


Entrepreneur:

Which site is good for posting rental ads?




I don't know how my property manger does, but I always get tenants without any issue.

But one of my friends(from MN) used zillow service and he gave a good feedback.
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Kodibochu
Yavvanam Kaatesina Bewarse
Username: Kodibochu

Post Number: 6909
Registered: 04-2019

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Votes: 0 (Vote!)

Posted on Tuesday, August 31, 2021 - 8:38 am:   Insert Quote Edit Post Delete Post Print Post


Entrepreneur:

How to find good handyman's




For my primary residence, I use Thumbtack or Homeadvisor. Most of the times, I got good guys with reasonable prices.
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Kodibochu
Yavvanam Kaatesina Bewarse
Username: Kodibochu

Post Number: 6908
Registered: 04-2019

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Posted on Tuesday, August 31, 2021 - 8:37 am:   Insert Quote Edit Post Delete Post Print Post


Entrepreneur:

How to learn handyman stuff




Since I am with a property manager, they handle all the service calls. Except with tenant(out of 4 since 2015), I am happy with the rest of them. They requested service if they really needed like replacement of water heater etc. One guy used to call for even small repairs.
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Kodibochu
Yavvanam Kaatesina Bewarse
Username: Kodibochu

Post Number: 6907
Registered: 04-2019

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Votes: 0 (Vote!)

Posted on Tuesday, August 31, 2021 - 8:34 am:   Insert Quote Edit Post Delete Post Print Post


Entrepreneur:

Which cities are good now/future?




I don't know. I never intended to buy rental properties for the passive income. As I told before, it just happened to me. But from past 6 years, I have been getting the tenants without any issue in Collegeville, PA.
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Kodibochu
Yavvanam Kaatesina Bewarse
Username: Kodibochu

Post Number: 6906
Registered: 04-2019

Rating: N/A
Votes: 0 (Vote!)

Posted on Tuesday, August 31, 2021 - 8:30 am:   Insert Quote Edit Post Delete Post Print Post


Entrepreneur:

Warranty - Choice vs American Home Sheild vs Select Home




Took choice home warranty for the first 2 years, but never used it. The tenants need the service right away( it is understandable), but it takes lot of time with the warranty companies to get any issue fixed.
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Kodibochu
Yavvanam Kaatesina Bewarse
Username: Kodibochu

Post Number: 6905
Registered: 04-2019

Rating: N/A
Votes: 0 (Vote!)

Posted on Tuesday, August 31, 2021 - 8:25 am:   Insert Quote Edit Post Delete Post Print Post


Entrepreneur:

Starter condo vs starter house



Mine is a single family home with about 2500 sqft.)0.25acres total lot size.
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Kodibochu
Yavvanam Kaatesina Bewarse
Username: Kodibochu

Post Number: 6904
Registered: 04-2019

Rating: N/A
Votes: 0 (Vote!)

Posted on Tuesday, August 31, 2021 - 8:24 am:   Insert Quote Edit Post Delete Post Print Post


Entrepreneur:

Current rental owners/real estate tycoons,




I am not a tycoon and never intended to buy a rental property. But, my wife job move kosam NC ki move ayyaanu Philly suburb nunchi. so., akkada property ni rent ki ichaanu. alaa rental property ki owner ni ayyaanu. will post my experiences one by one.
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Entrepreneur
Kurra Bewarse
Username: Entrepreneur

Post Number: 3732
Registered: 05-2011

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Votes: 0 (Vote!)

Posted on Monday, August 30, 2021 - 8:33 pm:   Insert Quote Edit Post Delete Post Print Post

Current rental owners/real estate tycoons, please post your experiences and lessons learnt

Starter condo vs starter house
Warranty - Choice vs American Home Sheild vs Select Home
Which cities are good now/future?
How to learn handyman stuff
How to find good handyman's
Which site is good for posting rental ads?
How to handle a bad tenant? Court order process?

Thanks!

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