All Forum Posts by: Andy Taylor

I started off with 3 houses on a lot and another house two lots down. Later I was able to buy the vacant lot between for a grand total of about 2.4 acres.

All the houses are in bad shape. I've torn one down and I've prepped another for demolition, but tearing down houses is crazy expensive. That leaves me with 2 houses, both rented but one of them needs to go too.

All this is close to the end of a dead end street. It's usually quiet even though the overall neighborhood isn't great. Across the street is a big embankment, so no houses or land, but there are several three story apartment buildings on that next street. 

Now I'd like to sell.

I originally wanted to put apartments or several houses, but not anymore, cuz I want to do more hiking, biking, and Netflix-ing, and less scheming.

So do I sell as a rental property or as land? I usually use a RE agent for sales, but I'm not sure how to pick one. 

@Scott Passman

Landlords are not being singled out. If this were a forum for dollar store owners, we would be complaining that the government implemented restrictions that we couldn't inflate prices to a "new market level" or we would complain that we are not allowed to sell all our hand sanitizer or bathroom paper to a single person.

The fact is, EVERYONE is impacted by this. If every job is suddenly shut down for two months - by law - people impacted by that law need protection.

It's pretty easy to understand.

My question is: Can you get a rehab loan? If so, I would lean that way over the hard money. It can be difficult to qualify with a bank, but in certain respects, a bank can be easier to deal with.

I guess both are tools in your tool box; there are times to use one over the other.

Meanwhile, be on the lookout for private money -- people who have $50k / $100k / $200k and up in a CD at the bank who could use a better return on their money.

@Bryan Cruz

It's driven up the price of appliances a lot. I need 3 refrigerators and 2 ranges and it's ridiculously expensive. Roughly $80 - 100 increase over a couple of years ago. I'm looking for used ones now.

@Clint G.

Don't forget the cradle to reset the lock when someone messes up the rekey process. It's useful when you don't have a working key.

I like the smart key, but my property manager still lives in 1973, so he manually rekeys everything when a tenant leaves. When he first took over my properties, I asked him to rekey the smart key and he locked out every lock and no key would work.

The cradle prevented me from tossing four good locks.

https://www.amazon.com/Kwikset-83260-SmartKey-Reset-Cradle/dp/B00HWYCVT0/ref=mp_s_a_1_2?hvadid=73461277537225&hvbmt=bb&hvdev=m&hvqmt=b&keywords=kwikset+smartkey+reset+cradle&qid=1558297439&s=gateway&sr=8-2