All Forum Posts by: Alain Chautard

Here the latest communication from my PM: 

The technician told me he couldn't tell where the line of property is, but he took some pictures and the way the fence is facing shows that it was installed by your neighbor, in this case that he owns the fence we still recommend you fixing it or replacing it, because it looks like it might fall apart and could be a hazard for your tenant.

So... They say that I'm likely not responsible but I should still pay for the repairs. Well, if I do, I'd build my own fence but would probably need approval to remove theirs, which they don't seem inclined to do.

I checked the docs and they have nothing on fences. The HOA said they only care about it if the fence is visible from the street, which is not the case here, it's the backyard fence that fell down. Bummer.

 All the PM company seems to do is ask me to approve the repairs so they can get forget about it and move on to something else. But they're not helping much. I have to to do their job at that point, or just pay the repairs and not care about anything.

Thanks for all your answers. Lots of good ideas there. To add some more context and answer some of the questions asked:

1) The HOA doesn't seem to have any rules on that matter (at least according to my PM - they said that they asked the HOA and they don't have any rules for that)

2) Splitting the cost is what I'm trying to do - but my PM is unable to reach out to the neighbor to do so.

3) I had no idea that the fence was not "neutral" and that it belonged to either property, so I'm trying to figure that out next - who owns the fence.

4) The cost of the repairs is $2,000. It's not massive but it's also not cheap, especially because I don't know what happened, and who knows if that fence is going to be down again in a near future? If someone put it down on purpose and went away with it, they could do it again.

Hi. I'm a remote investor owning a LTR property in Houston, TX, while being based out of California. I was contacted by my PM company a month ago about "70 feet of backyard fence that had fallen down".

I received a quote and was asked if I approved the repairs, but I was of course wondering about a few things:

1) Why would I have to pay for those repairs and not the neighbor sharing that fence? Shouldn't the cost be split? I certainly didn't break anything.

2) Does the HOA have a say in this?

3) Also, how did that fence fall down? Did someone break it? Was there a weather event? Should insurance policies be involved?

A month later, the PM company hasn't helped in any way. They couldn't reach out to the neighbor. The HOA doesn't have any rules on that matter.

I still don't see why I would have to pay 100% of the repairs without knowing more about what happened there, who's responsible, and what my options are.

So my question is: How would you handle it? What do you think I should be doing? Anyone else encountered a similar scenario before?

The books are very different. I would recommend reading both. The E-myth Revisited is eye-opening in so many ways, it's a classic!

Thanks for your response. Is rentometer a reliable website to estimate rents? Or is there any other website I should consider?

Hello all,

I want to invest in 6 LTR properties over the next 18 months. I have the cash to do so and I was thinking about using Roofstock or Rent 2 Retirement to purchase turnkey out-of-state properties. I'm in California so out-of-state is definitely my best option.

I read some negative feedback about Roofstock (they do volume and automation vs. quality and real people) and read some good stuff about Rent 2 Retirement but I've tried to talk to them for 3 weeks now and they didn't show up to the calls scheduled using their system, so I feel like I'm in a dead-end with these two options.

I was wondering if anyone knew about other companies or people who specialize in turnkey LTR properties?

Thanks!

Thanks everyone, great answers! 

@Dennis M.: I like the idea of hunting for "For rent" properties. It's definitely easy to see how someone looking for a monthly rent could agree to a owner financed deal. Makes perfect sense.

@Tom S. That's creative, I like it ;-) My take is that in order to get low down payments, using a combination of different financing tricks seems to always be helpful. There isn't one single strategy, but rather a range of options that, when combined together, can work like magic.