Author Archives: Matt Tolman

About Matt Tolman

I have been in the real estate and property management business for close to 15 years. I have purchased property for government agency, relocated business and individuals. I personally invest in real estate and manage my own properties. I'm not here to sell you a piece of property but here to help you in the process of renting it out.

Six Kinds Of Tenants, Which is Yours

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There are many different kinds of tenants, some are easier to spot than others.

There are six different kinds of tenants. Some of these tenants will be easier to spot than others. Picking the right tenant is very important in avoiding problems:

  1. The Socialite – This is the tenant who likes to party and can be very difficult to spot.
  2. The Professional Bad Tenant – This is the tenant that after incurring a couple of months of not paying rent get up and move in the middle of the night before the landlord and serve them with papers. Many times these tenants don’t show up in court records because most landlords aren’t going to through good money after bad money. Continue reading →

Investors Now’s The Time

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Real estate investors, now is the time to buy homes in Mesa Arizona

Here is a piece that I wrote for homebuyersearchaz.com. It gives insight in what sellers are thinking now as they contemplate selling their homes.

In the Mesa Arizona real estate market for 2011 we can make a few assumptions that I think most people will agree with.

  • Mortgage rates will probably increase slightly
  • Home prices will stay flat
  • The housing market will not be hot for some time.

So it is clear to see that it is still very much a buyers market and will be so for 2011. So looking for a house right now makes perfect scenes.

You may ask why would anyone want to sell?

There are two primary reasons: First, the seller is distressed and must sell & second, reason is to avoid being distressed.

Today’s buyers are much more demanding, demanding lower prices and better conditions. In the past we could just put the house on the market and it would sell, but that doesn’t work today.

There are 3 possible scenarios for selling your home in Mesa Arizona and the surrounding market they are; aggressive selling the first 90-days, moderate six to nine months and then patient a year or longer.

Selling your home is 2011 requires more planning than has been required in the past and it also requires that homes be in better condition for top price. It will also require that you get more creative, such as offer 6 months of prepared HOA fees.

What ever your reason for selling now is the time to begin marketing you property, but be prepared to wait.

My First Investment Property A Mobile Home

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What I learned from my first investment property as a property manager

Property Management Mobile HomesThe first investment property I bought and managed was a mobile home on a lot. Since I didn’t have any money as I indicated in a earlier post, I used hard money for the loan and cash from a credit card as down payment.

The property was a 1974 Fantan single wide mobile home which I picked up to $30,000. The place was run down and needed about $3,000 to make it livable again. If I had hired the work out it would have cost me about $10,000. Continue reading →

My Story Property Management Story.

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How I got started in property management and what is one of the mistake I made.

Property Management Story and MistakeFrom time to time I’ve been asked how did you get started in property management and do you like it?

The last part of the question, “do you like it” is fairly easy to answer. YES As with anything there are things you like and things you don’t. There are more things about the job that I love than I hate and that is why I continue to do it.

To the first part of the question, “how did you get started”. Continue reading →

Tips To Make Rent Collection Easier

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Having a hard time getting your rent on time try one or two of these tips

Property Managemet Rent Collections

Having difficulty collecting rents in this economy? Setting good rent collections policies is a must and making sure your tenants know them is just as important.

Without a good policy in place your rent collection can get sloppy and your tenants will take advantage of you.

Tips:

  • Have a place for your tenants to drop off the rent. That could be an office, or a postal center. Continue reading →

Go Green & Save Money!

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Believe it or not a landlord by making some small changes can see a larger ROI.

Property Mangement, Mesa Arizona, Going Green

Going green is all the rage right now and many people and businesses are touting it and offering incentives to get you to change out your old and replace it with new.  As a landlord you need to be careful that you don’t get caught up in this craze and spend money you don’t need to.

As a property manager who manages in Mesa Arizona, Phoenix Arizona and in between I’ve got a few suggestion that don’t cost very much and will help to improve your bottom line. In no particular order here we go:

  1. Out door lighting, if you are paying for out door security light switch spot light to SFL spot lights. You can go with a lower watt bulb that puts out the same wattage as before. Continue reading →