All Forum Posts by: Uwe K.

I agree with others, don't make it super fancy as if you sell. You are creating a rental unit.
I see you are in Chicago, maybe there is a HOBO store near you. They have a good selection of kitchen cabinets. I've used basic stock cabinets, they have many finish choices, and they are always the hit.
They recently introduced some "quick ship" line, which is a bit better quality and more style and cabinet choices for the middle market.
And they have custom choices if you still decide to ignore all of us and go overboard :)

I bought similar houses in Milwaukee, WI, same age range. I also find that the quality of craftsmanship seems to be quite a bit better then and things do hold up quite well, considering the age. Of course, all depends on ongoing maintenance over time. I invest mostly in the low-income neighborhoods, and often, once the houses are cheap enough, they are run-down. And if they are duplexes, certain slum landlords over the years did not quite help with their "repairs" and "upgrades". Add a long list of code violations (read: petty stuff, but annoying), and you have your work cut out.
Expect more work at the $10k level (like almost everything), and less work at the $25k level. I've looked at $35k duplexes in nice blue-collar areas with almost no work to be done (plus surprises, of course).
Having said that, most of those properties should cash-slow pretty nicely, despite the required investments to fix up.

I have seen some bad foundations, such as basement walls caving in a foot or more on three walls. Run, if you still get out before it collapses. But I think, after 100 or so years, if there is no major damage now, you will not have much hassle. After all, if they haven't shifted in a 100 years, what are the chances?

Plumbing is usually rusty galvanized with some copper additions and a few repair pieces. You may notice reduced water pressure. If the house has been vacant, there may have been frozen pipes. Never trust the ubiquitous "Winterized" signs, they mean nothing. Bought a winterized SFR where the boiler controls completely broke apart and pipes were leaking on all corners.

Electrical can be a piece meal out of knob and tube, bare wires due to decaying cloth insulation, some Romex, and usually no permits pulled in the last decades. Most will have circuit breakers. But duplexes, for example, may have only 2 or 3 circuits for the whole unit.

I include the following:

- Lease with all addenda (if applicable), incl. info about keys etc.
- Non-standard rental provisions (required here, includes everything that will be charged extra if they do not behave)
- Check-in/check-out sheet
- Lead paint disclosure and that useless brochure
- Smoke detector notice is required here
- Sec. deposit payment agreement, in case they partially pay after move in

I've always wanted to create a general info sheet re. utilites etc., but so far I have always been too lazy, and it does not seem to provide too much value for my tenants.

I was wondering the same thing.
Forgo one week of rent, have the repairs done, then get the full amount for 2 months, 3 weeks. As long as you are 10% higher in your market rent you are fine, but have less hassles and do not need to disturb the tenant.
Also, background check after move in? The guy might be very understanding and eager to get in because he has some issues...

Computer thing challenge: No, some challenges are not good. The "computer thing" is a challenge to most of my tenants, too. That's why I need to have my process work for them instead of making it harder for them. Making it more of a challenge doesn't help me to get people in, it may refer many good potential tenants to the neighbor's place who gives them a paper app that they are comfy with.

Interesting answers. We're all over the board with the times. Nobody has tried the "hand grenade in a paint bucket" method yet? :)

To finally add my two cents:
Looking back at the last project, I haven't timed myself, but from gauging the times between looking at the clock, I think it took me about one hour for the ceiling, incl. brushing the simple moulding. I mostly did one coat here as well, since it's a rental.

Then I painted the trim around doors and windows plus baseboard (if applicable), 2 coats at maybe 1 hour each. No cutting in around the walls, and then if the windows have glass panes I just brush like there is no tomorrow and scrape it off with a razor blade once dry. I found this to be way faster than going at about 1 inch per minute and trying be neat.

Then cutting in plus corners. I think under half an hour per coat. I don't use tape anymore either, but here I actually successfully used that pad thingy with the two rollers that keep the pad from touching the other side. Works quite well once you get the hang of it. Get's a little tricky with a thin or rounded of baseboard, for example.

Then rolling the walls, about an hour to 1.5 hours for the first coat, little quicker for the second coat.

And no, closet not included, that goes extra. Like others said, almost as much time as the whole room.

The most frustrating in this house was actually the living room: It had a swirly texture to it. Looks quite nice, old fashioned, but with up to 1/4 inch thick swirls. Even the 1-1/4 nap roller wouldn't come into all the crevices. And that room had so my little corners and details, and the fireplace with stone inserts that you had to cut in. Freaking nightmare. One coat for just the walls took me at least 8 hours. Needless to say I found there was no second coat needed for this room...

My process is pretty much the same as Jon's. And like Charles, there is a limit on the fee allowed in WI: Max what it costs up to $20. No app. fee allowed, plus I have to give them the credit report.

Apps are processed in the order they come in, once approved they have a certain amount of time to sign the lease, at which time the deposit (or most of it at least) is due. My tenants can usually not afford the first month's rent at the same time, that's due on the first.

Deposits before signing a lease, or earnest money, is somewhat an issue here anyway. I never take them, because they mean nothing: If they do not sign, I have to return it pretty much in full. I am allowed to keep money for damages, such as having to advertise again. That's roughly $0 to repost on craigslist, so useless to go through the hassle taking any earnest money.

Just curious about those who do their own painting. How long does it take you to paint an avg. size room. Let's assume:

- a 10x12 room
- ceiling one color, with a simple piece of moulding in the same color
- walls a different color
- 2 windows, 2 doors, cutting in
- two coats needed
- not including painting baseboards and casing and prepping all done. No primer needed. Brush and roller, no spraying.

I am just finishing up a SFR that I couldn't spray. So I wanted to do a statistically irrelevant survey among BP DIYers.

Here is the thread I meant. Contains actually some other items, too:
https://www.biggerpockets.com/forums/52/topics/77534-rehabbing-for-rental-properties

Steve, I always forget about the the "related" section. But in this case it wasn't included anyway. It's a little bit like the Google video suggestions: You start out watching how to change your brake pads, three "related" videos later you watch an Airbus landing in a strong cross wind... :)

Unless it's your own home, don't bother. cat pee and baby poop stains beats any type warranty.
I remember a recent thread maybe a week or two ago where flooring was discussed here. Have to run and BP search isn't working again, let me know if you don't find it. General trend was towards hardwood and laminate, as a quick summary.

There is quite a number of threads about this with various opinions and suggestions.

I generally don't have an issue with giving out my account number (for legitimate reasons), not sure why people are super secretive about it.
I don't see a real risk especially nowadays where you can watch your account online any minute plus with all the liability protections offered.
Some services you don't have to give out your bank info to the tenant, too.

And no, no reason to not do auto-pay, expect you don't want to to suck up a $3 fee or so (depending on the service chose).