All Forum Posts by: Chris Donathan

 Thank you! 

 I definitely did not negotiate $0 Markups on maintenance. To be honest I made a mistake of not asking alot of questions when I interviewed them (newbie mistake). They charge $75 for the first hour of maintenance and $75 for every hour after. Regarding this issue, the PM says they can't handle it and that it has to be a contractor. They're really set on using this particular guy. My biggest mistake has been relying too heavily on my PM to handle repairs. They don't care one little bit about mitigating my expenses. Again, I realize it's my newbie mistake. From here on out I'm handling every little thing and contacting repairmen and contractors myself. As soon as I can, I'm giving my PM the boot. Thanks for the reply. 

 I agree it's more of a me issue. I'm a newbie, just started last year. I'm learning as I go. Experience is a brutal teacher but I'm not quitting. I just don't want to make the same mistakes. Once my contract ends I am definitely dropping this PM. I'm beginning the process looking for other PMs. My agent says he can't recommend other PMs except for the company he works for. Thanks for the reply. 

Can anyone recommend a good and fairly priced plumber in Little Rock Arkansas? 

This is our issue and a quote that we received from a plumber:

"Existing sewer line is flexed with back-falling and "belly" exists, holding water constantly causing the back-up issues and is approximately 12-13 feet deep. It is unrealistic to dig up this line for repair. Will track hoe excavate 30-40 feet for installation of new sewer line pipe and will core into existing man hole in back yard. Includes installation of clean out access at the building and any required permits, $3200"

Any thoughts or recommendations?

Thanks, 

Chris Donathan

Hello Little Rock BP community,

I purchased my first 2 rentals out of state last year in little rock, AR. My wife and I were really excited to finally own a home! (Too expensive to own where we live). The only thing that's been really frustrating to me is our property management. Besides charging a lot for repairs ($75 every hour) they have terrible communication. 

On January 10th my PM notified me of water coming into the sunroom. We determined the roof wasn't leaking and the water was coming from rain seeping in from outside. My Pm sent a GC to look at it (for which I was charged) but they couldn't figure it out. After that they sent another out (for which I was charged) and he gave a bid, finally. This was on Feb 7, almost a whole month after the incident. I asked for one more bid as it was a bit pricey. 

It's now March 3rd. All the while my PM has not been forthright with me and seems to be dodging the issue. I feel stuck and I'm worried there's been more water seeping in since Jan 10th. 

Can anyone recommend a contractor to help me solve this issue? 

Thanks, 

Chris Donathan

Hi BP community, 

This was my first year diving into real estate and I successfully bought 2 single family rentals out of state. Now tax season approaches and I'm completely lost and nervous as to how I should file my taxes.

For reference, each sfr is under $140k, and are located in the state of Arkansas. I live in southern California. 

How do I do my taxes without screwing myself? 

thanks! 

chris 

I should have mentioned that my two properties are in Little Rock Arkansas. Don't know how much of a difference that would make. 

Hello BP community,

I'm worried I'm paying way too much for maintenance repairs. I currently own two single family rentals in Arkansas. For maintenance repairs I am using our property management. They charge $75 an hour. Here's a breakdown on a recent job from the management:

"Changed out 1 receptacle in bedroom, was able to get other receptacles back working with troubleshooting. Swapped door knob around. Swapped another set of knobs. New porch light installed, New weatherstripping on front door. New weatherstripping on back door. Majority of the time was spent troubleshooting the receptacles and front porch light. Our service call fee is $75 for the first hour and then $75 for each additional hour."

The total amount was $418 for this job. All they did was install a front porch light, fix some receptacles, and swap some door knobs. This seems unreasonable. How do y'all set up repairs if you're out of state? 

Thanks in advance! 

Chris Donathan

Thanks that helps clear it up. My goal is to build a team there, boots on the ground. I plan on staying away from Knoxville proper, and look outside the city limits. I've looked into pigeon forge/sevierville, and it looks like finding discounted properties is not gonna happen there.

Ben Headrick,

Thanks for the reply!

I was familiar to some degree with the laws there. Just to clarify, is this permit map saying that only certain areas are zoned for commercial/non-owner occupied rentals, or is it saying that you just have to obtain a permit in order to do a non-owner occupied rental? 

I haven't made any offers on any properties yet. I'm currently trying to get in contact with First Century Bank, but with no luck. Their commercial loan guy is pretty busy apparently.