All Forum Posts by: Eric Mason

I do.  I have 4 duplexes in the City of Monroe.

I'm in Monroe as well.  The market is still strong in my eyes.  There's still opportunities for cashflow deals and i'm not seeing a decline in prices.  Connect request sent.

I purchased two multi-family properties from an individual and both needed some foundation work.  The seller took some money off of the asking price on top of the price we negotiated and placed some other money in escrow in the event I had the work performed.  The escrowed funds covered roughly 40 percent of the repairs (I knew this going in).  The work was completed and I drew the money from escrow.  How do I account for this come tax time?  I will be using a professional, but I'm just curious.  Rough numbers are 22k for repairs and 8k in escrow.

I'm wondering if anyone has a form where tenants can rate their experience with individuals we send to settle issues.  I recently had an experience where my handyman was able to get more info on issues than I was.  I've just purchased this property.  My tenant is timid and feels like a burden if she brings up issues. She's been there for 7 years and never brought up anything with the previous landlord.  I asked my handyman to dig a little deeper and sure enough she opened up to him about some very minor issues.  She's very grateful and so am I for different reasons.  Anyway, I realized i need to encourage tenants like this to voice small issues before they become big.  I explained that when she brings up these issues she's protecting my investment and thanked her.  It got me thinking a good practice would be to send a questionnaire to rate their experience may be useful. If you have a practice to find out issues on your property i'd like to hear about it.   If you have a "rate your experience form" i'd love to see it. 

After years of analysis paralysis I finally purchased three duplexes in Monroe MI.  I've joined my local Landlord Association and i'm saving for my next property. I live just four miles from Toledo in Temperance MI and am looking to connect with local investors as well as members on Bigger Pockets.