All Forum Posts by: Chantz Ireland

Hi there Bigger pockets users, Its been a while since Iv posted on here but I seem to be in a battle with myself over what to do in my current situation. 

I have a Triplex that is in the processes of getting all the windows replaced ($8,500) The payment is roughly $200 a month for five years. The building currently cash flows at $400 a month ( was $600 before windows)  The windows needed to be done and now look great.  Now that summer is approaching it is time to get the roof done, I've been quoted on the roof at $9000 which I would have to get another loan for and would then again eat into my cash flow.   My question is.. does It make sense to go out and get another loan to replace the roof and then bring my cash flow down to $200 or even less depending on the payment. This is a buy and hold type of situation with promising out look for the rental market.

I am a brand new real estate investor and already have learned multiple things not to do on my next deal. 

Thank you for your time

- Chantz

@Nnabuenyi Anigbogu Good advice!! Ill look into ordering windows from a building installer and see if i could save some money here.

Thank you!

I bought a triplex last year and an currently renovating the units. The building really needs all new windows, its got old aluminum windows that sweat a lot (Water in the window seal) and it causes mold issues around the frame. I had a guy from "Window world" come out and quote the building, The quote came in at $8,500. I am wondering if I should bite the bullet and get all new windows or if there is an alternative route??

Any suggestions or ideas would be helpful

Thank you

- Chantz

Thank you guys for your input.  As far as from an investor stand point, Does it make sense to get another loan to fix the roof..?  

I've lived in my triplex for about a month now and have two high ticket items that I think should be taken care of asap.

1- The roof is starting to leak and hasn't been replaced since it was built in 1983.

2- All the windows are single pane.

Should I get a home improvement loan to knock those two things out at once..? maybe raise the below market rents to compensate for the new payment, or just wait it out and save until I have the funds to do it by myself..?

I've lived in my triplex for about a month now and have two high ticket items that I think should be taken care of asap. 

1- The roof is starting to leak and hasn't been replaced since it was built in 1983.

2- All the windows are single pane.

Should I get a home improvement loan to knock those two things out at once..? maybe raise the below market rents to compensate for the new payment, or just wait it out and save until I have the funds to do it by myself..?

I am a new owner of a Triplex and am currently living in the middle unit. The other two units are occupied and pay well below the going rents for my area. I could raise it $150 and still have room to raise it more. My question, how do I raise the rents and get them to sign a new lease at the same time without scarring them away..? 

I just bought a Triplex and am now about to collect rent for October. Last month the renters in unit 1 were late. I bought the building from my father and he said that they are late every month and usually don't pay tell around the 10th. This doesn't work for me and would like to figure out how to get them to pay on time every month. 

I texted the renter 4 days ago and reminded him that rent was due on the first. I woke up this morning to a text saying that 2/3 of them occupying the unit don't get paid tell the 9th and will be making there payment then. 

Do I start charging him late fees or let it slide..?  Any ideas would be extremely helpful. 

Ive heard a lot about Whole selling and know the bassic principal behind it.

Someone other than me finds a good deal, gets it under contract then sells the deal to me with a finders fee attached. 

My question is, Where do I look at houses that wholesalers have under contract? 

Is there a web site or meetings...? 

Anything helps! 😀

Just closed on a Triplex last week and am required to move into one of the units. The tentant that is in the unit I will be occupying in 3 months is on a month to month lease from the previous owner. My question is how do I go about serving this notice, are there any secrets that'll help this process go more smoothly?

What type of notice should I serve..?