All Forum Posts by: Andrew C.

Have any other investors had negative experiences with Smart Asset Realty? I may be going into litigation with them and I'm looking to connect with other investors who might be interested in joining together to help save on legal costs. Please message me privately if interested. Thank you!

Sorry Milwaukee, WI.

I'm an out-of-state investor and I'm not too much of a handyman so I'm not sure about prices but I just wanted to get a sanity check from those with more experience. I had my property management company turn over a unit for me recently and I'm just wondering if I could lower my costs by using a local handyman next time. I don't mind paying people for their work but I just want to know what's reasonable and what's not. Please let me know what you all think.

I recently paid $3850 for this:

Garbage removal
- Minor garbage removal can be done by tech
Alarms
- 1 combo needed
- 1 combo needed in basement
- 1 smoke alarm needed

Maintenance
- Check all doors for proper closure and catch
- Complete punch list
- Remove blinds and hardware
- Remove old alarms and brackets
- Install door stops as needed
- Remove old cables from walls
- Remove plastic and tape from windows and doors
- Remove shelving from back of hallway closet door
- Install sliding closet doors in back left bedroom (one door in kitchen)
- Replace back left bedroom door 30” (hole)
- Remove storage rack above toilet
- Scrape and caulk bathtub

Plumbing
- Install aerator on kitchen faucet
- Install shower head

Electrical
- Replace lightbulbs as needed
- Install light cover in kitchen
- Install light cover in front bedroom
- Install missing outlet cover in front bedroom
- Install light cover in back left bedroom
- Attach light cover in hallway
- Install GFCI outlet in bathroom
- Attach light cover in back right bedroom
- Install blank handle on back right bedroom

Painting
- Remove all unused hardware from walls and trim
- Remove old door bell box from hallway
- Remove security box from wall in back right bedroom
- Paint all walls (Amazing grey)

Flooring
- Carpet worn and stained (618 Sq Ft.)(Remove carpet only)
- Living room 12x16
- Hallway 3x25
- Front bedroom 11x12
- Back left bedroom 9x11
- Back right bedroom 10x12

Plus another $240 to remove staples and tact strips due to the carpeting. I left the floors as hardwood (except the kitchen where I spent another $940 on LVP).

Are there any out-of-state investors who can recommend a trusthworthy handyman? Please DM privately or reply publicly. Thanks!

 I was using Stout Properties but now I've switched to LREI.

Are there any out-of-state investors who have done flips who can recommend a contractor? Please DM privately or reply publicly. Thanks!

Hi all,

Please go easy on me I'm more of a long-term investor but I wanted to dip my toes into the AirBnb pond by taking on my first property:

House = $20k

Septic = $7.5k

Well = $10k

Septic Plan = $1.5k

Building Permit = $1k

Site Work / Driveway = $5k

Concrete Foundation = $15k

Plumbing / Electrical = $15k

Furnishings = $10k

Pond = $5k

Land = $50k

Total = $140k

There are AirBnb's in the area renting for $100 / night and at that rate I would have to rent mine out every day of the year for 4 years straight before I breakeven.

Can anybody help get the numbers to work?

Thanks!

 Thanks - I'm searching on NAPRM.org for new PM's. Do you have any that you recommend in Louisville?

Thank you both for replying. It's a 3 bedroom 1 bath located in downtown Louisville and it was listed for $1195 for a month but I reduced it to $1095 and it's still been vacant. It's open for Section 8 so I am accepting govt tenants.

What can I do with the property management company to make sure they're doing everything they can to get a tenant?

I'm an out-of-state investor relatively new to the Louisville area. I recently closed on a tri-plex in the downtown area and one of the tenants moved out and my unit has been sitting vacant for about 3 months now. The unit has been turned and everything has been updated. Is this normal for the Louisville area? Any advice on how to manage the property management company to track leads better? Any advice would be appreciated. Thank you.