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All Forum Posts by: Shannon Slade

Shannon Slade has started 1 posts and replied 119 times.

Post: Refrigerator in the unit

Shannon SladePosted
  • Forney, TX
  • Posts 119
  • Votes 101

I will never provide a fridge.  I have seen the tenants tally up their groceries inside the fridge (ribeyes, porterhouse and baby back ribs), so nope, I have too many mouths to feed at my own house. 

If tenants can afford rent then they should be able to afford their own washer, dryer, fridge!!  If they cannot then they might need to look at a less expensive home.

One thing I will offer is to increase their rent and I will buy them a fridge(used fridge), but it is their fridge and if it quits then its on them to replace.  I will amortize double the price over 12 months.

Good luck

Post: Leaking roof - insurance claim?

Shannon SladePosted
  • Forney, TX
  • Posts 119
  • Votes 101

How old is the roof?  Estimate age?  How many shingle tabs missing?  Missing flashing can be tricky to replace and make water tight if you are not experienced. (YOUTUBE a roof repair)  Age of the roof, percentage of shingles missing and do I have a ACV/RCv policy will determine if I call the Insurance man.  If you are handy and can save some money over your deductible, I would just do it myself.  Just got done doing this myself on a duplex.  

The other thing you need to think about is how much damage the leak is causing in your attic and Sheetrock on the inside of the home.  Your insurance man will pay for this as well.

Post: Dallas rental market cools down?

Shannon SladePosted
  • Forney, TX
  • Posts 119
  • Votes 101

We haven't noticed here on the east side of Dallas that things are slowing.  Rented out two houses this past month with a 25 potentials and weeded down to two tenants in two days each home, while raising the rental price.  Hope it picks up for ya'll!!

Post: Do you accept Section 8 Tenants

Shannon SladePosted
  • Forney, TX
  • Posts 119
  • Votes 101

Nope, don't want to support this broken program.  One person has the voucher with a live-in friend with a job, making more money than an honest family.

Post: First rental property

Shannon SladePosted
  • Forney, TX
  • Posts 119
  • Votes 101

What @G. Brian Davis said!!  Also do not consider what you will charge for rent!  Get the facts talk with a realtor and check Zillow, etc for actual rent prices in your area. 

Costs will definitely eat into your bottom line if you're not careful!! 

Figure out these details then pull the trigger if it makes sense.  Good Luck

Post: LED Lighting (fixtures)

Shannon SladePosted
  • Forney, TX
  • Posts 119
  • Votes 101

I just started putting in the LED bulbs on the last move out.  Good to hear folks are getting plenty of life out of them.  Over the last 10 yrs of investing we haven't had tenants stealing globes, I wonder if this will change now that we added the  LED's!!

Question, Does anyone have problems with tenants stealing the bulbs when they move?  

Post: Rental Kitchen rehab advice needed

Shannon SladePosted
  • Forney, TX
  • Posts 119
  • Votes 101

Lowe's sells a stain that will go over the existing finish(with very light scuffing) for the cabinets.   Maybe change out the ceiling light trims.  Kitchen looks real nice!! 

@Donna Salmiery Bank acct is free and my tenants think its great for payment.  Also Landlord never see's their information.   Thanks @Steve Bracero

Post: How is the Market in Your Area?

Shannon SladePosted
  • Forney, TX
  • Posts 119
  • Votes 101

Time to sell or rent out in North Texas

Cozy

Deposit at my bank

check

cash- I hate to meet tenants to collect rent but I will meet them every now and then to take cash so they are not late, at my convenience.