All Forum Posts by: David Tomich

@Jon Holdman is spot on.  I use basically the same approach.  YouTube probably has lots of videos on hanging doors.

Thanks everyone for the welcome.  I actually joined awhile ago, but always nice to be re-welcomed :)

@William Byers  

I don't have any properties for sale but sometimes get the inside scoop on opportunities before they hit MLS or Loopnet. Can you private message me some info on what you're looking for? You mentioned SF and MF, are commercial or development of interest? I know of a good commercial property with development potential. Can also put you in contact with great contractors and tradesmen here if you need to rehab a property.

Deals can certainly be made with a verbal offer.  And it's really valuable to talk with the seller or seller's agent before putting a offer in writing.  Find out what is most important to the seller, and try to get a feel for how motivated they are to sell and if they'll move on their price.  

I'd recommend making the offer verbally after talking to the sellers agent, and following that up with a written offer ASAP.  Some realtors do not take verbal offers seriously, especially if it's a very low offer.

@Damien Clark If asking nicely just won't work, you can report them to the BBB or the local Registrar of Contractors if they're licensed.  From a quick google search, it looks like General Contractors are not required to be licensed in Maryland.  But if they do electrical, plumbing etc they may be licensed.  I think this should be a last resort.  The threat of reporting them may be enough to motivate them.  

Regarding the DYI - Trimming laminate flooring in-place is quite tricky.  If you post pics, I may be able to help.  It will probably require a multi-tool.  Google "makita multi-tool" to see one.  

Was the flooring exposed to water after the install?  That would cause buckling and wouldn't be covered by warranty.

Good luck!

Ouch!!!  Our evictions cost $118.  $72 for the court and $46 for the constable to serve the papers.  We don't use an attorney, but I've been told they run about $200 here in N. AZ.  The Police dept enforces the eviction order without an additional fee if the tenant doesn't obey the court order to move out.  I'd ask the PM to get estimates from other attorneys.  Most will let you know over the phone what their average billing for an eviction is.  Good luck!

We had this happen in a house about 4 years ago.  After drying out it mostly went back to original condition, with only slight cupping at the sides.  If your climate is dry then fans will be enough.  If not, I'd use a dehumidifier as well.  

So I agree with other posters here, but one thing I'd add: You mentioned its a plywood floor - make sure your crawlspace is dried out as well.  Even with a moisture barrier, some humidity gets through and you'll want to prevent mold in the crawlspace.

Good luck!

Definitely agree @Account Closed .  I'm sending out a tenant newsletter with a questionnaire for that reason.  But need to give tenants a monthly cost estimate so they can decide if they're interested or not :)

Thanks @Paul Granneman.  Do you provide wireless to your tenants?  What do you charge?  Our setup cost is around $12,000 for the larger properties.

We're looking into providing wireless internet at several apartment properties.  The setup cost per property is about $12,000.  After the 1-time setup cost, monthly cost will be $200-$300 per property, or $5-$8 per apartment.  Tenants are currently paying $60-100/mo for their own internet service, but some are sharing with their neighbors to bring the cost down.  So, what do you charge your tenants for wifi?  We're thinking around $18 per apartment, but curious what other landlords are doing. 

Thanks for helping!  

PS - If you can recommend a wireless system that works well for apartments (and allows us to restrict login, so not anyone can use it) please let me know!  Smallest property is 20 units, 1 acre, largest is 53 units and about 10 acres.  

Personally, I'd hold onto it and not refinance and to pull the equity out.  But many investors would pull the cash out.  I like minimizing risk, and keeping equity is important there.  But to maximize income you'd probably want to pull your equity out and reinvest it in another property.  Because of the low interest rates it is an attractive time to pull equity out and reinvest.