All Forum Posts by: Dustin Karns

I'm in need of some advice. I had a unit go vacant (eviction) on 4/5. I was advised by my management company to cage the AC unit and approved that on 4/6. But, the AC unit ended up being stolen before the cage was installed. I'm not sure when it was stolen, but it was noted on my owner portal on 4/13. So, it seems that my property was vacant and unsecured for 7 days.

I just got a make-ready estimate for the property, and replacing the AC unit is over $4,000. So, a few questions...

Is $4,000 a reasonable price for an AC unit? I've never had to replace one before.

Are there any other options (buying used or a window unit)?

Should my insurance cover this?

Should my management company hold some responsibility in this?

Some other helpful information:

The home value is about $65,000. Rent is about $675/month. And, the home is in Tennessee if that matters.

Any input would be greatly appreciated! Thanks! 

@Ann Howell , @Tim Howell and @Fred Stevenson

Now that these ordeals seem to have mostly passed, would you continue to invest turnkey? If so, would you use maverick to help in arranging your next turnkey provider or would you suggest them to others?

Okay, thanks @Cameron Skinner for the information!  

I'm American, my wife is Korean.  We are getting into our first investment here before the end of the year.  I'm curious, purely from a tax standpoint, is there a benefit to putting the property into my name or hers? I know we have other things to think about when it comes to financing terms and setting up the business.  But, just wondering for tax purposes.  Anyone able to help?  

@Harry Zhou

We actually haven't moved forward yet.  So, I'm not able to share anything specific.

John, I can't believe you're in Kokomo!  That's where I was born and raised!  Small world.  Good luck!  

Hey Robert, thanks for sharing at the meetup last weekend!  We learned a lot.

Thanks everyone for all the great advice!!  

I played Kiyosaki's Cashflow 101 game with her and she was instantly hooked.  She actually beat me the first time, and still often beats me.  Since then, she's been pushing just as hard as I have to get our first deal done.  

Also, we attended a weekend seminar in Indianapolis where we both learned a lot about how to get started. Now, we are both living in Korea and joined the Seoul REI Meetup group here. Learning so much and looks like this summer we will finally be able to get started!!

Yeah, we did do their bus tour when we were home last year. I wish we could get out in the city more and get to know the neighborhoods, but we're living abroad at the moment.

Of the neighborhoods we did see in Indy, Fountain Square stands out to me. Anyone able to give me some more information about that area? Like I said, wish we could drive it and get to know it, but need to rely in others until we get back to the States. That neighborhood seems to have some long term cashflow and appreciation potential.