All Forum Posts by: Ivan Burley

Thank you everyone for the advise. It seems my best option given my currant situation is to leave the window. I'll add the shower panels and seal around the window sill. I'll have to cut the the panel to fit around the window. Rob I like the idea of the marble sill. I may look for a more cost affective way to just waterproof the sill for now.

He is just quoting the work I asked for, he does good work. Thanks Rob, I never thought of that. So the blocks will be wide enough to replace window sill and extend to the exterior of the house?

I recently acquired my first rental investment and after doing some repairs and rehab I am near ready to rent. I added a shower to an existing tub and now the problem is the walls. There are no shower panels and on top of that there is a window in the shower area. I recently read here to remove all windows in the shower. I am already over budget but I want to avoid future problems.

Any suggestions? My contractor says he can remove and close up the window for $400. That will leave me with plywood on the outside of the home, at least initially. I planned on be ready to rent for the first but I think that is out of the question now.

Thanks for the reply Joe. Another investor I came across referred me to a management company here in town as well. I really wanted to go with my friend, 1 for a cheaper option right one and 2 to help her out as well. I was hoping to build a good business relationship between our companies.

This week I am working on getting my LLC started so that I can protect my assets in case of emergency or catastrophe. Is this still the best way to hold properties?

Thank you all for the replies. I understand your viewpoint Rod. Thank you for the shower panel tip. Michelle, my friend being fairly new to the business, she has one other client whom she finds tenants for, I don't believe she will bleed me. If I was to use her company I would definitely need all maintenance ran by me first.

My reason for wanting to use her is to distance myself from the tenant a bit. I will still have total control but not need to deal with the late night calls or pestering calls while at work. I also am in apprenticeship school to become an electrician so my schedule is pretty full. That's not including a wife and two children. I have done a couple of mobile homes prior to this. I love real estate and I am in it for the long haul. I just want to give myself the best chance for success.

Mark, I am still working on the number as to how much to pay the management group on a monthly basis. I have be seeing 10% of the lease agreement is a normal compensation.

Hello everyone. I've been read quite a bit here on BP but this is my first post. I fence toy purchased my first rental home as an owner financed property. Of course once I got into the home (after I evicted the previous tenants) I ran into more problems than I anticipated. I'm nearly finished with the rehab and I am get close to listing.

Being a newbie of course I am sure I overpaid for some labor. I'm pretty handy so I did a lot of things myself leaving the bigger jobs to the skilled. New paint, new base cabinets, added a shower to a tub only bathroom. Which brought another issue. Does anyone know the least expensive way to protect the walls in the shower? Would it be tile or lining? There is only drywall right now. I would like to get the house section 8 ready but there is still work to do I order to pass codes.

My next question is should I take care of this whole process myself or use a property management group in the beginning. I have a friend that has a small company that is also up and coming. She would receive a half months lease to find a renter then a percentage thereafter to manage. I work full time so this may help to stay on top of the property. Is this a good idea?

Thank you for reading my post I have many questions. If there are other investors in Nashville who are familiar with the area please chime in.