All Forum Posts by: Daniel Smyth

Ok, you asked for it. 

I like the list Valarie had. 

1st of all, you need to decide how much you are willing to pay for cleaning services. 

If you want "White Glove" service, it will take time. And one person may not be enough.

It depends on how clean, is clean, and if a drip of grease on the oven is reason for a new employee.

There is no such thing as wanting it too clean. No such thing as expecting extra work than usual, for the same pay, if things are really nasty. Although,  no cut in pay if the tenants were clean and respectful. 

The list is as vital as any contract. Agree on the price per scope of work, and allow for extra pay when extra work is performed. 

Before and after pictures of each room, show the completed work, and if there is a damage, or cleaning charge to be sent to the tenants. Again, if Velma is scheduled to clean the house or room, and she is there to do the job, she needs full pay. Make it work!

I use the property of friends and partners often. I pay a bit for the maid, even though it's not needed. As we always leave it clean, the maid is happy, and she leaves us a nice report. 

Good luck!

$75, really?

when you sell the house, you pay $75 more. Not an issue. Just refute it first.

@Mike M.

Almost with you here.

Just getting started myself, I will end up doing wholesale deals.

Buying legal representation, because another set of eyes can help in the deal. And the closing of the deal.

In my contracts, with be language that requires clean title before closing. I would next try to find a way to get the title search done before I make my deal. This means my costs will be higher than someone just finding a property. Thus, I would expect a good price on my sale of the purchase contract.

Working on the plan, but safe and sure, is money well used every time, unless you have that money to loose.

Anyone, am I going the right direction?

Thanks.

@Rashad Ellis

I would get to reading a few more things about how to investigate values and hidden dangers first.

The way I see things, WE, if we do what we are advised to do, are doing the job of a buyers agent.

I bought my 2nd home through a buyers agent because of something I read at the time.

I was told that the buyers agent looked into the property and the sellers a bit more, and that they, the buyers agent, were doing what a Realtor cannot do, by law.

Realtor, no matter how nice they make you feel, is bound to represent the seller.

Get a buyers agent.

Or, do your due diligence, and learn by doing.

Good luck to you. Let us know what you do. And how it turns out.

@Robert Vorhies

In your agreement, was there verbiage concerning default?

When I purchased my first home on contract, the contract stipulated that any deviation from the contract was to put me in default, the same as if I stopped paying. Then all deposits and fees paid were lost.

That kept me pretty straight with understanding that contract. Pets were not mentioned, but things like subletting, recording the contract, and doing anything that would cause a suit to be filed on the property were mentioned.

If you have such a default clause, you may have some ability to fine the tenant, and then add rules for animals from that point on.

Perhaps the current contract needs to be closed. A new contract, or lease, could then be signed that allows cats and fees or the like.

Not that you NEED to add fees, but an ignorance of one part of your rules would suggest that others are just suggestions.

Be sure to update us what you decide.

Nice question!

@Jane S.

I agree. Things can go well.

I also raised rabbits. If the needed things are done, all will be fine.

Funny, but I think of some things a bit different when I think of who will clean up the mess. And how much it will cost, when the renter moves on.

I want some little chicks now. Thanks alot for this post. If they only stayed small, soft, and cute....... If you never lived on a farm, NO would be my answer. A favorite saying of mine comes to mind from a scene in the movie The Music Man.

"You gotta know the territory "!

@Thomas J Monson

Check the building and use codes for your property. If the regulations say yes, dont forget to ask the neighbors.

I have raised chickens. Love them birds!

There are issues to understand concerning chickens and raising them.

Understand that your next renter of this property may not enjoy so much of what chickens may leave behind.

Dont expect your current tenant to clean everything up before they leave. This will result in an added expense.

t in an added expense.

@Jennifer Edwards

I am starting a list myself.

Going to different companies with pictures and plans for 3 different types of renovations.

I need to do this so I know the numbers better.

One kitchen will cost more than another.

Setting up general kitchens as a base price, will help me estimate numbers at the home dguring the first visit. The same for bathrooms, living rooms, yards, pool/patio areas etc.

I want to be able to tell an owner or investor a very close price in minutes.

Good luck. Share when you can. I will share as well.

@Kimberly Kesterke

Actually, I never associated myself with being a slumlord, so as the term is used, it does not apply to me. It also does not apply to you, I am sure.

Slumlord, to my definition, is one who rents properties that are in poor shape as a rule or practice.

Just as my skin is very fair and light in color, I dont ever feel the need to apologize for racists, I refuse to apologize for slumlord because I rent homes in different states.

In my book, people are good until they have proven to be otherwise.

Happy New Year!

I am getting a Son-In-Law in a few days. The New Year is looking good.

@Frank S.

Well, seeing that this will be your home, perhaps you should look into a few tools.

While you can shape wood on a radial arm saw, a shaper or router table might be in line.

Check out the used tool places. We have something called Re-Tool here in Rockford.

Pawn shops are good, but cash offers are best and the price marked is always negotiable.

Get a few inexpensive shop tools, watch some YouTube tutorials, and dont forget about the free workshops at Lowe's, Home Depot, and Menards.

You practice, by using sample trim pieces from inside closets. Take your time removing trim.

Good luck with your new house!

By the way, in case I forgot to mention it, find an older plumber yard. You may not find the pieces, but you may be able to get them made.

We craftsmen love to do what we once had to do, before plastic moldings and paint everything ideas.

-Dan