All Forum Posts by: Enrico Angella

I wouldn't replace the toiled with a $ 1000 super-powered one. I used one of those to create a second bathroom in an old condo, because I was too far from the main vertical sewing line of the building. They are very delicate and it's another item you have to look for and maintain.

I totally agree with @Nathan Gesner it is a difficult issue, but the tenant is definitely responsible for. I would keep call a plumber to snake the bathroom sewer and charge the tenant for that.

@Waleep Alvi

Such a good question!

I would definitely opt for the shower curtains. The few times I installed shower doors I had to change them every new move in.

As everyone suggested already, I don't think it is good at all to socialize with your tenants, at least from a business stand point.

When I started dealing with tenants, I had that approach of being nice and socialize with tenants. I hadn't read all the books about property management, I was young and naive. 

You can easily imagine the outcome. Less confrontation with tenants, but a lot of unrealistic expectation from tenants about rent staying the same and "flexible" terms on payments. Then at some point I would change my attitude, and do all the things that a landlord or a manager should do, and become the jerk.

I would keep the relationship with tenants as formal as possibile, covid is the best excuse for all of us when we don't want to hang out with someone, and when a tenant is on the phone, if he/she starts talking about his/her personal life, always cut the conversation short, telling them that you would love to talk to them but you're about to go out on a meeting.

I wouldn't personally invest in a deal like that. No inspection prior buying and the whole family drama would be a lot to deal with.

Did you eventually decide to pass on or did you buy it?

@Richard J Reid

Thank you for sharing your experience, I really found it interesting

@Richard J Reid

It’s a slightly old post, but I really liked the question you asked

The biggest challenge for me is definitely finding financing that isn’t over-priced and that makes sense.

Very well said, I totally agree with you @Jacob Pereira

@Elmo Dasalla

Austin inventory is so low right now, any decently priced SFR gets multiple offers within 1/2 days and it is sold over asking price.

It’s just insane how hot the market is ATM.

@Jamie Fankhauser

I’m sure you already read it because it is a classic, but the 7 Habits of Highly Effective People is by far the book that changed my perspective both in my personal and business life.

The underlining concept of finding a balance between getting high results from an asset without neglecting the asset itself is so valid, in my opinion.

Cheers

@Harken Maguire if you're interested in the BRRRR investment strategy and you want to know all about it, you should definitely read David Greene's "Buy, Rehab, Rent, Refinance, Repeat: The BRRRR Rental Property Investment Strategy Made Simple". 

Cheers