All Forum Posts by: Aaron Lands

Oren,

Thank you for your prompt reply.  One survey was done about 2 years ago and the other within the past few months.  The 50 foot lot descriptions are directly from the legal description at the county courthouse.  According to the county aerial GIS map (yes, I realize these are not always accurate), the lot line shown on one side appears to be exactly where the one survey pin is located.  The other lot line (the map shows my side by side 50 foot wide parcels) is in the middle of the neighbors driveway, roughly 10 feet from where the pin is actually located.

 The surveying companies used have each been around for 30 plus years and have a very good reputation so that why I'm not sure of such a discrepancy.  I'll keep you posted.

Hello BP Community:

I had a question in regard to the accuracy of surveys. I own 2 side by side parcels of 50 feet each (100 feet total) in an older section of town and I have neighbors to the east and west of me (we get along fine but wanted to know where the exact pins were located in order to build a driveway and garage). The owners on both sides of me had a survey done by professional surveyors and each pin cuts approximately 3 feet into what I/we thought was my property line. I measured the distance between pins and it only measures 94 feet, not 100 feet. I'm not necessarily questioning the surveys, just wondering if this is common for a lot to be 6% smaller than it's legal description? I own quite a few rental properties in which my structure or a neighbors structure is within a few feet of a property line and now I am wondering if I need to have some of those properties surveyed. Thanks in advance!

Hello Everyone - 

I am primarily a buy-rehab-hold for cash flow investor but I do 1 or 2 flips a year as well.  Often I am juggling multiple projects at the same time.  Fortunately I have never had a break in or theft at a property I was working on.  I do have a big problem, however, with people coming in the middle of the night and dumping their trash in my dumpsters (usually construction debris, but not always).  I have set up trail cams before but I never get a good picture of a vehicle, license plate, face, etc.

I'm really looking for a wireless camera(s) that I can set up temporarily (for a few days to a couple of weeks) at a property that will take and send photos to my phone and/or record video.  I did quite a bit of digging online but the options are overwhelming.  I would appreciate any recommendations from those of you who use cameras for security purposes.  Thanks in advance!

For most of my properties I have utilities automatically switched back into my name when tenants move out.  This helps to elimate service being cut off and then going through the hassle and expense of having them reconnected.  Anyway, I had a tenant whose lease ended yesterday, July 31 (they paid their full July rent).  I discovered that they actually moved to another home at the end of June, which is fine because they still paid June and July rent.  They called and had utilities switched back to me (without my knowledge) at the end of June.  I informed the tenant that they are responsible for paying utilities until the end of their lease, but they refuse to pay.  No biggie, I'll just add it to an itemized list and take it out of their security deposit.  Has anyone else had a similar experience?  Hard to believe that tenants are permitted to switch utilities out of their name whenever they wish and that utility companies allow it to happen without notifying the owner.

Hello,

I check with the county courthouse. Many counties have a website where you can search properties by address. Usually there will be a mailing address for the LLC. For example, if someone were to search my properties they would see the name of my LLC and a mailing address, which happens to be my residence. I have initiated contact with several property owners this way. Good luck!

Welcome to BP! I actually grew up in Mascoutah and own a couple of rentals there. It can be very difficult to find a positive cash flow property in M-town. The property taxes are RIDICULOUSLY high. In addition, the market is pretty hot right now so good deals are hard to come by. The few properties I own in Mascoutah I purchased awhile back from very motivated sellers and they were in pretty rough shape. I've been investing in other states (i.e. TN & MO) and doing quite well. Even in a difficult market you can find a good BRRR property if you are patient and keep your eyes open. Best of luck!

When my wife and I began RE investing 17 years ago we had a difficult time trying to find a realtor who understood RE investing. Few realtors knew anything about investment properties and the few that had "investment" properties were really just accidental landlords. A lot of realtors would claim a property was a great investment but when we asked them what made it a great investment or asked about NOI, projected cash on cash return, etc. we were met with blank stares. This is why my wife decided to get her real estate license.

I would recommend joining your local RE investors association and ask for references.  You are correct - most realtors will claim to know about real estate investing but most don't have a clue.

Hello Jonathon, I use Strano as well.  Overall Andrea and her team do a good job managing my properties.

I am quite a bit further south of you, about 35 miles east of St. Louis.  I've purchased several properties, all with a positive cash flow.  Scott AFB is only a few miles away so I do have quite a few military tenants.  I've tried flipping older properties, but when I figure my costs, time, etc., there isn't a lot of profit to be had.  I've had better luck with newer properties that have been on the market awhile.  Using baseball terminology, I don't hit many home runs, but the singles and doubles add up.