All Forum Posts by: Braden Anderson

@Taylor Stamm interesting idea. I like the thought. I’m here in Utah, where solar is big. Following this

Thanks guys for all your input! 

Want to get your thoughts. I just purchased a basement apartment and promptly got renters into it, paying me $1050 a month. When we signed the lease, I said that I would get someone down into the basement to add washer and dryer hookups ASAP to hookup the stackable washer and dryer I bought for the property.

After having a plumber, an electrician, and an HVAC guy come down, I got those installed much later than I was hoping. It was also much more expensive than I had originally been quoted.

Then I purchased blinds for the property and went down there and installed those.

Then we saw that there was water damage on the window sill. I went down to investigate it (while they were on vacation) and realized that there was water leaking, due to no barrier between the foundation and the window. I got silicone and sealed that all up, after ripping out some of the drywall by the window.

Then I replaced the bathroom pedestal sink for a 36'' vanity sink and put in a new faucet and plumbing. Now the plumbing has been leaking. I went down to investigate the faucet and finally decided I was done and am going to have a plumber come and do it right. I told me tenants that I was sorry for all the interruptions and hassle of all of this. I gave them a credit of $150 for the troubles and told them to go get dinner of me. ---- What I'm wondering is, is that normal? Should I have given my tenants a $150 credit for about half a dozen interruptions in the last month? Should I have given them a larger credit? Or should I have given them no credit, because all that stuff is just part of being a renter - dealing with problems that the property faces as the landlord pays for it.

I feel good about giving them a credit, but I want to make sure I'm not being too generous, or if I'm not being generous enough. Thoughts here? What would you have done? I'm not so worried about the expenses of the fixes I've had to do - I've included those in my numbers. I'm more wondering if a renter credit is normal, or too over the top? Thanks!

What do you guys name each of your rental properties? To keep track of them all. For example, right now I only have 2 rental properties in 2 different cities, so I call them Pleasant Grove house and Saratoga Springs house. But if you have 10 rental properties in one city, how do you keep track of what expense go to each and everything else? What do you call them to keep track of them all? Do you call them house 1, 2, 3, 4, etc. or do you name them by the street name (1743 W. and 1036 S.)? Just curious what everyone else is going  to stay organized as you manager your properties.

Wondering if I should buy a new residential (future rental) house after 1 year, or 2. 

I just bought a townhome in March, 2018. I have originally been planning on living in it for 1 year, saving up a down payment, and then buying a new house March 2019, and turning my current townhome into a rental property. Then doing the same thing for the next 4 years. That way, I can acquire a new property once a year, for only 5% down. HOWEVER, I just came to realize that if you stay in your primary residence for 2+ years, you don't have to pay capital gains tax on it when/if you sell it down the road. This made me second guess the above strategy and think about sticking it out here for 2 years, and then buying another townhome. What are the pros/cons to each?? 

I'm brand new to real estate investing. Wondering how you go about purchasing rental properties out-of-state? How did you know market prices? How did you find good deals? What agent did you work with? Can I get some help?