All Forum Posts by: Account Closed

There are so many things wrong with this scenario.

Tenant selection process was clearly very poor.

Contractor seems to have done sub par work. Doesn't sound as though the work was inspected.

Little thought was given to the potential tenant pool.

Sounds likely there may be issues with the lease agreement.

Clearly financing / refinancing was not thought out.

This was a very very short buy and hold - there may be tax implications the investor hasn't counted on as well.

All in all it seems this individual went into this without any consultation, planning or understanding.

I've replaced a lot of these multi-turn valves. Often though it is not just the valves at sinks and toilets but even the main shut off valves and/or the valves at the hot water tank. Generally I like to replace all of these with ball valves.

Thanksgiving has arrived to the west coast. Hope you enjoy your time with family and friends.

Kyle J. the program does allow you to save in other formats. My clients were ale to give me soft copies of reports and docs that I could open in pdf.

Neatworks does work well. Not only does it capture your receipts but it allows you to create reports, track your expenses and organize them. I have clients that use it for their business records and others that like it for tracking their rental costs.

I've done hourly and had flat quotes. I prefer flat rates especially when using a contractor for the first time. I do not pay any upfront money. Contractors get paid as they complete segments of the job based on their quote.

I have several clients that use and love Neatworks,

Be careful not to spread yourself to thin. You'll want to make sure that you have adequate reserves otherwise you can put everything in jeopardy.

This is a great time to buy real estate but growing to fast has its own problems. Which many a business can attest too.

I think this landlord learned a valuable lesson. Probably will consider a different approach next time.

I purchased my first property about 20 years ago along side my then girl friend who has since become my wife. She already had several rental properties and we decided to buy an REO that was a total mess inside though it was structurally sound. I rehabbed the property on my own and got it rent ready in about 4 months. The property cash flows well and has had good appreciation even with the collapse of the real estate bubble.