All Forum Posts by: Douglass Belt

Nice job Josh on the site! it is more user-friendly and easier to see. I can't stress enough what a gold mine this site is with the forums, and podcasts! Keep up the great job!!

Hi Dylan,

Try looking into the Madison REIA clubs or contact the South central Wisconsin Apartment Association. They may have some ideas that can point you in the right direction. All of my contacts are in large multi-family and probably not what you want. However, if you reach out to either of these groups, they may have some ideas that better suite your needs. Good luck!

Welcome Charles! I too am from Madison and l am looking to start investing in the area (SFH & Multi). I too am looking for financing and/or partner for some local deals. I moved here 7 years ago although it does not seem that long! (still trying to figure out how to effectively navigate the capital square!) Good luck and lets keep in touch.

Hi Tyler,

    Judging from the information about the property, it has potential. That side of the Madison is under redevelopment and could be a good long term investment. It sounds like it is near that capital as well and that could help for recent grads, or those who want to move closer downtown. Right now, there are a lot of young professionals who want to be close downtown and with all the recent new development for apartments, that rent sounds like a good deal. I live in Madison and have been looking at investing here but it is a tough market. There are lots of properties but hard to find ones that make sense cash flow or financially-wise.  If after you do more digging on the numbers, (Taxes, insurance, vacancy rates, repairs, utilities, etc.) and the numbers work, it sounds like a good buy for a long term investor. Good luck!

Good Morning BP-ers!

For what its worth, I thought I would provide an update to the post I had a few months ago about renewing my tenant. Thank you to ALL of you for providing me with guidance and advice!!

I not only ended up renewing her lease, but she decided to pay for an energy audit to see how she can help reduce the energy consumption for the house. She provided me the results as well so I have something on file and can refer too for quick fixes. One key takeaway is that small fixes (offering to pay for new door gaskets, foam outlet inserts, and new weatherstripping) is a cheap fix and pays serious dividends towards good will, etc for the tenant.

In addition to that, we also agreed that she will directly deposit her rent check to my bank account. It is the closest thing (That I can find) to Direct deposit for "Person to person" there is. My bank only does direct deposit for B2B or P2B. This also has been a source of improvement for the tenant and apparently hated mailing her check-so this is easier for her.

In the business world, I have learned that to provide great customer service it revolves around 3 things: Speed, Ease, and Knowledge. The same can be applied to Real Estate Investing. Make things easy for the tenant, be knowledgable, and be fast in responses, and repairs.

Again, thanks to the BP community, I am learning a lot and look forward to adding more properties to my portfolio

Great feedback and thanks! Actually, the house is in MN, and I live in WI so not just "Down the streed." to check out either. Like you Gil, I dont mind good, quick fixes or fixes that are realtively inexpensive but I do not plan on replacing all the windows, etc. Again, thank you all for your feedback!!

I tried searching the forums for this topic and could not find one, so apologies if this has been asked before and I did not see it....

I have a tenant who wants to pay for an energy audit (Includes installation of CFL lights, water heater blanket wrap, low flow showerheads, improved weather stripping, etc.) In additon, they are doing a blower door test to see where the main areas of heat/cool leaks are in the house. I have no issue with this being done and appreciate my tenant wanting to do this and pay for it themself. The audit results are only sent to the tenant (Since tenant pays utilities) My question is this: After the audit, can the tenant hold that audit results against me to leverage new window installation, or somethiing major? By the way, windows are in good shape. Has anyone dealt with something like this before? I have added insulation in the attic, replaced and repaired storm window's, storm doors, etc., but as all homes have to breathe a little (They have to or it would be dangerous to live there) wondering what limits there are. The home is in great shape and never had an issue with drafts, leaks, and have it will maintained. Any thoughts, advice or experience on this is appreciated!

wow, thanks for all the comments and feedback! What a great resource this is for someone to ask a simple question, and get great advice and ideas. Thanks again!!

Good Morning all!

I have a tenant that may be moving out in the next month or so. When she started renting the house, she installed new light fixtures with a ceiling fan in two of the bedrooms. It has been 2 years since she has installed them and wondering if should would want to uninstall them and take them with her, is that legal or would she have the right to do so? she paid for them out of her own pocket and never asked to be reimbursed, however, it is a part of the house now. what are your thoughts? Thanks for the feedback as I am trying to be proactive and get my "ducks in a row" in case this may be an issue coming up. Thanks!

Thanks Joel, Ana, and Kerry for the feedback and great points! Part of the reason I would be interesting in a PM is for the point you made Ana-start going crazy! what kind of details can you share about your experience with PM's? I am interested to hear what mistakes and success stories you have working with PM's. Thanks again!