All Forum Posts by: Bob Beach

@Michael Plante  @John Yue  The solution, I've been posting "half of the solution", on other posts, but here it is on a silver plater.  @Jackson Long has been doing repairs and rehabs for me for almost a year. He's not promoting himself in this post so I will.  He and his team are reliable and have consistently been beating the estimates from my PM's, sometime by a little but mostly by quit a bit. I spent years going through Craigslist ads for "handyman" and big box home renovation companies. Now, I give Jacks team the tenants name and phone number and then I go watch tv with a glass of wine. I do not work for Jack or have business with him other than, he repairs my houses and I pay him for the service. 

The A/C project, @Jackson Long was mentioning was for one of our units that never had central air. I wanted to do it right and not a hodge-podge job and was told it would also need a circuit box upgrade.  We'd just had a new (used) central air unit installed in our primary residence and the quotes we got for new units, installed was between $6,200 and $12,000.  Jack and his team worked to get a new unit, installed with box upgrade for in the $4k area, for a similar sized house in the heat of summer.

I've been using this guy and his team for almost a year know.  Dependable and price less than the normal PM folks.

@Jackson Long  He's on these forums so send him a message. 

I would think the cost would depend a lot on the age of the house, previous tenants, trees on the property (they fall on houses), old concrete work, wood rot, plumbing condition, etc...  

  I've had plenty of bad experiences with PMs and rent ready costs.  Do not go to Lubin Properties for anything.  But for the last, almost a year, I've been using the service's from @Jackson Long .  He has teams that can do pretty much anything to a house and much better price than anything I've been able to find, and relaible.  Send him a message and check him out.  

Best of Luck...

@Jason Rhodewalt Yes, in a perfect world, the lower cost rentals would be doing fantastic. One house, we paid $24k for is now getting $850 in rent. But, those dang repairs. One point you made, I didn't think of was focusing on more properties in the future. Which I was shying away from. Considered flipping so we don't have to hold and loose. 

@Teresa Harris I did give myself a deadline of Jan 2022 to make my decision.  Since we did just finish a house and getting a, "I believe", good tenant with excellent rent.  Plus, a new managment company were the past ones were milking us dry on repair costs.  So, 6 months to see how it will go. Maybe sooner.  But, from the replies, I'm leaning a little towards selling 3 for 1.

Thanks for the replies.

  We have a half dozen, low income, rentals scattered around Memphis and considering selling three to buy one, newer, nicer house.  We've built up our modest portfolio in the past 5 years or so and have had good and bad years. Tenant turnover and repairs have taken their tolls.  And, yes.  We had inspections on all houses except one, (I took the word of our property manager that sold it to us).  We feel like all houses have had pretty much everything rehabbed and the newer tenants are showing good "promise" with excellent rents.  But, who knows what's in the future.  But now, we're thinking of selling three and moving the funds to a newer, nicer, better neighborhood house. We have one rental in CA that is a newer house in a good area and has been trouble free for 8 years with the original tenants. 

  Any thoughts on doing this move?  Anyone have the a similar experience?  Some simple math shows, the rent from one (nice, $200k+) house would be less than the total of the three (low income houses, $45k to $100K) but less turnover and repairs could end up with more profit.

We have a handful of houses in Memphis and have gone through multiple property managers.  From good to bad to very bad. Lubin Property, in my opinion is the most dishonest, by no small margin, and I have had good luck with Midsouth.  But Midsouth is very particular on what properties they manage. For rehabs, I've been using a newer company and have had very good experience.  Contact @Jackson Long  .  He doesn't do price gauging for out of state investors.  He's on Bigger Pockets so should be easy to find. Best of Luck

Yes, reply to Jackson Long.  He has been doing work for me for some time now. Reliable, has people for everything and doesn't do the famous "cash grab" for out of state investors. 

I would imagine, Facebook market place would list many rentals.  Or, old school Craigslist? 

Based on what I know, I would look for nothing over the top. like a business suite and tie at a walnut oversized desk. That would tell me, "We charge a lot and make a hefty profit".  I would go for "Business casual"  in a non-professional photo maybe waist up.  I want to see, "welcoming" "friendly", "professional", "smiles", not stepping out of a Mercedes Benz or G-Wagon. Maybe a work truck or 10 year old SUV. Maybe, my individual personality is dictating  what I Iook for.  But, there ya go....