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All Forum Posts by: Christina M.

Christina M. has started 0 posts and replied 66 times.

Post: What is your eviction rate?

Christina M.Posted
  • Rental Property Investor
  • PA
  • Posts 69
  • Votes 60

In 28 years we had only two court evictions both in the early years (listed rentals in the local newspaper) and prior to using a Realtor.

Post: got scammed by robert kiyosaki (author of rich dad poor dad)

Christina M.Posted
  • Rental Property Investor
  • PA
  • Posts 69
  • Votes 60

@John Smith

Trust but Verify. People just share their experience how they make it/made it. Take what resonates with you and leave the rest. Rich Dad Poor Dad was a great way to explain a concept(s) - read it 24 years ago (was given to me) and today I still can reference a few things one 'You must mind your own business' another one 'Build Your Team' There may be a few more. I found the CD collection on establishing an Entity - Business Structures very helpful.

If you only learn one thing from each experience I say it was well worth. You are building wisdom based off of real experience. To be successful to make it you must take a negative and find the positive - easy one : read the fine print aka as in the future you will never sign a document or sign up for anything that you do not have complete understanding.

When you point the finger of blame at anyone or anything there's always 3 fingers pointing back at you.

Experience, Knowledge, Wisdom and Appreciation of the Journey.

You will know that you made it or on your way when you look back and are grateful that Robert Kiyosaki early on for a few hundred dollars taught you how to read the fine print.

Post: Death of tenant

Christina M.Posted
  • Rental Property Investor
  • PA
  • Posts 69
  • Votes 60

@Jeremy Cepress

You wait for instructions from the Estate Attorney can take up to a year or more. They Estate Attorney never returned the garage door opener (they sold with tenants car), and the mailbox key. Other locks were keyless. There's a charge in our lease for not returning those items. Also they left a bunch of personal belongings in the storage bin, did some extensive damage (I know it was not the Tenant) when moving out of the unit, did not clean the unit and I charged an Administration Fee. All listed in the Lease Agreement they had a copy. All of the above was deducted from the Deceased Tenants Security Deposit. I returned the balance of the security deposit plus interest. The Attorneys and the People they hired to go through the Tenants things (I am being kind) were just unprofessional.

When you do return the security deposit I suggest a Cashiers Check/Bank Check.

Post: Soundproofing between units?

Christina M.Posted
  • Rental Property Investor
  • PA
  • Posts 69
  • Votes 60

@Stuart Alexander

We used plywood, a layer of cork and LVP with sound proofing back (thick rubber) upper units. Definitely made a difference and we no longer install rugs. You may not need plywood.

Post: What are reasonable bathroom remodeling costs?

Christina M.Posted
  • Rental Property Investor
  • PA
  • Posts 69
  • Votes 60

@Bruce Woodruff

Totally agree. It's ouch! That's the world we live in now.

Post: What are reasonable bathroom remodeling costs?

Christina M.Posted
  • Rental Property Investor
  • PA
  • Posts 69
  • Votes 60

@Bruce Woodruff

Been in this market since the mid-90s and only sharing my experience. I would never comment on an area or market I have no experience.

Professional Contractors in this area would not even be interested in such a small job - they want the large jobs. They add a PIA Fee.

Three years ago had a 3/1 in Philadelphia went through HD for an estimate bathroom remodel $15k no tile, no gut. Simple. We just sold the property as is.

For the Vent the Contractor was correct to say he wasn't licensed. Although our Contractor would have found someone that was licensed or referred us to someone. The Townships in their area are tough to work with and will pull your license in a second. Often neighbors will report or call the Township to determine if permits were pulled.

We pay top dollar for our Contractor his Labor Cost are high but he finishes the job on time and budget. We have learned the hard way and lost over $250k could be more over the years to unprofessional (I am being kind) contractors.

We have been on a waiting list with our Contractor for a couple of months. We are willing to wait. The best Contractors in this area are booked out until September - some through the end of the year. Good Labor is hard to come by.

Materials are a premium and also Labor is just not the actual work - it includes time to purchase supplies, workman's comp, insurance, fees, etc.

I reviewed the post with my husband before reading your reply and he said that sounds correct.

The Professional Contractors name their price take it or leave it - our Contractor tells us stories how people take the low bid then call him back after a year. Asking him to fix or finish the job he refuses the work.

Post: What are reasonable bathroom remodeling costs?

Christina M.Posted
  • Rental Property Investor
  • PA
  • Posts 69
  • Votes 60

@Bradley​ Lobo

For the area that sounds fair for a reputable contractor. Labor only averages about $13k per bathroom and materials cost have increased. Also in that area Contractors are busy never really slows down. Always get multiple estimates.

@Martin Guerrero

In my experience a full disclosure Applicant would have noted on the application about something that may appear negative.

Consider using an Tenant Screening Service that scores the Applicants. Although it's ultimately up to you it provides a systematic ranking/comparison.

Over 20 years ago although I still remember what my Attorney said to me. I had cut applicants a break and it was a disaster and ended up in eviction.

"No good deed goes unpunished"

Post: After giving tenant a discount, received nasty text

Christina M.Posted
  • Rental Property Investor
  • PA
  • Posts 69
  • Votes 60

@Rebekah Meyer

I am going to be very honest at the same time as kind as possible. You acted unprofessionally on many levels and in trying to save money (I get it) you gave your tenants a reason not pay their rent. You bent over backwards for yourself. Here's a professional caring Landlord:

Tenant A/C Unit is not working and to yourself - it's hot, they have children (a baby) immediately purchase new 2 or more new window units. Install window unit(s) make sure they are comfortable. This would have allowed time to get your house A/C working. Keep the window units handy for the next time. Offering $250 is easy and you showed your tenants they are not a priority. It's your property it's their home. Respect them.

Consider getting a HVAC Maintenance contract - our units are serviced twice a year and we would get priority service. As well as you would have had a professional opinion of a potential issue. Preventive, saves money and even have planned for repairs or replace.

Pickup the phone and speak to them in a professional honest matter take some ownership of your poor handling the situation. Some people just it want to be acknowledged, try to fix it, start over and learn from the experience.

Tenant Management and Communications is just as important as Property Management.

Turn it around. If you want your Tenants to be professional then you must lead by example.

Post: Is Rich Dad Poor Dad Worth reading?

Christina M.Posted
  • Rental Property Investor
  • PA
  • Posts 69
  • Votes 60

@Joanna Golden

Yes. Received it as a gift around years 1999- 2000 one of the things that stayed with me through all these years build a team of experts Realtor, Banker, Accountant, Lawyer, Landscaper, etc., and always Mind Your Own Business.