All Forum Posts by: Carley M.

If you can are comfortable with the other documentation, and they can afford the rent based on their income, and you're comfortable with their credit worthiness, what's the problem?

@Jarrett C. - Rehab just started last week (scheduling delays by the contractor) but we're on pause because of a required asbestos survey. The program inspects the work and doesn't pay the contractor until the work is completed and inspected. For larger jobs, they assign a project manager. The cost of them administering the construction oversight/payment is rolled into your loan. I've had trouble getting reputable contractors to do minor repairs around the house, so I'm very glad that NACA is involved with the big stuff. I would absolutely recommend using a contractor that is a NACA veteran because the process can be paper intensive. My contractor is handling all of the payment requests, which I would need to process and submit if they weren't already set up to handle it. There are a lot of hoops, but if you know that going in, you can manage your expectations.

Kenisha Chapple I bought a 4 unit through the program. If you want to talk more, send me a PM. Good luck in your search!

I just finished the purchase phase with NACA. I would be happy to share my experience with you. I think it's a great program - and even worth the extra hoops and aggregation (saved me over 30k) - I just wish someone had laid it out for me as far as the actual process, steps, and timelines. I felt like my mortgage person knew less than I did about the program. I kept all my documents electronically so I could resend them whenever they asked for something. I started in Feb and closed in November. Absolutely worth the frustration.

I just finished going through the purchase phase of NACA with a 4 unit in Buffalo, NY. The rehab phase with NACA is just starting.

I use a Google Voice number for advertising unit listings. It still rings to my personal phone, but I know immediately that it's not a personal call so I can decide whether to take it or send it to voice mail. I note in the advertisements that a google voice number is used for privacy reasons so potential tenants don't think the number is a scam (it announces to the caller that it IS a google voice number).  This way, when the unit is no longer available, I can uninstall or disable the google voice app until the next time I need it so that I'm not getting applicant calls long after the ad has been taken down.

I decided not to use a Google Voice number for my tenants to contact me with (for repairs or other issues) because it doesn't allow pictures to be sent through text messages, my preferred method of communication.

I'm only managing 4 units and I live on the property, so while Google voice is a good solution for me, it may not be for a larger property with more units.

Cross posting this ...

I have an adult special needs son. I bought a 4-unit property for him to live in (I occupy one unit as well) and so that when I die, he will have an income stream above and beyond his Disability payments. In order to protect him from losing his benefits, I need to put the house (and life insurance) to pay into a special needs trust for his benefit. I'm hiring a local trust attorney to navigate the legal stuff.

Have you moved your properties into a trust (even if not special needs)? What pointers can you give me? What do I need to make sure is covered? What is the one thing you wish you had known when you set up your trust?

Thank you in advance for your advice!

Welcome to the area! Seems to be a lot of new buffalo people joining!

I just did a search on old BP posts regarding flooring for a potential future kitchen project of mine. I found this great thread that may be useful to you.  @Paula Matli had some really interesting ideas for inexpensive wood flooring that is easy to maintain and repair/replace. Check out page 3 for pictures of her floors. They glued down entire sheets of plywood, scored them to look like planks (this has been an evolving process), and put on 3 coats of poly. The floors look amazing.  Here's the link to the old thread.

https://www.biggerpockets.com/forums/84/topics/80342-flooring?page=3

@Edward Burns I found this old flooring thread and am intrigued by the interlocking/floating tiles. How was your experience with this?