All Forum Posts by: Charles Morgan

Here in the desert Southwest I only wish my tenants would put in Astroturf, but I understand that in your area that is not desirable. They definitely need to make sure the gate is secured, that would put you in danger of liability!

Sounds like an awsome deal to me. $25,000 covers a lot of insurance payments. I would do it especially if there is no current damage. (IMHO) If it does settle you get to collect. In the meantime the cash flow will make you happy! Looking forward to updates.

One of my houses is costing me $400 for landlords ins. plus $300 for flood. It is about a $60k property, that is high but if you can still cash flow it may be worth it. Not enough time I guess to get an engineer or foundation person in there?

Quite a problem. Has your insurer already issued a policy?

With the additional complaint about the dryer, I would have to echo the advice to offer to remove them free of charge. :-) 

Set your standards in writing, that should cover you. You can absolutely reject applicants who don't meet your standards as long as you follow fair housing requirements. 

http://portal.hud.gov/hudportal/HUD?src=/program_o...

http://portal.hud.gov/hudportal/HUD?src=/program_o...

Wow! you are making great progress toward your goal. I hope you are pleasantly surprised when you hit your goal sooner than expected.

If there is actually water left after the cycle, you may have a plumbing issue but doubtful. I have also seen a filter get plugged up. I have worked on left behind appliances but if you are not handy advise him to call a repairman.

As a rental I do not pay any utilities. Solar panels on a rental would not cross my mind unless I get paid for having them there. 

I do energy efficiency updates when it is cost effective, for instance if I need to replace a window anyway, or if I am removing a wall, or rebuilding a floor. Safety is more of concern for me than energy efficiency.

Having the most energy efficient home is not much of a draw in South-West Texas. Our heating bills are low. And cooling is usually evaporative so a home that is too tight (air movement) is actually hard to cool.

Do you know a realtor who can pull comps for you? That will give you a better idea of what it's worth. 

I hope you are not letting a bad experience with your first rental and first tenants sour you on the idea. You may want to consider turning it over to a property manager if it's just the headaches that have you down.