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All Forum Posts by: Ethan Martin

Ethan Martin has started 2 posts and replied 6 times.

Post: High Maintenance tenant

Ethan MartinPosted
  • Lender
  • Athens, GA
  • Posts 6
  • Votes 2
Quote from @Nate Pucel:

@Ethan Martin

Seems pretty good except for the breaker issue. If using the appliances in the kitchen causes regular breaker trips then the electrician didn't wire the house to code, unless the tenant is running multiple plug in appliances on your outlets at once. However, every pre installed appliance should be able to run perfectly fine, at the same time even, without issue. If that's not the case, not only should your tenant be upset, but so should you bc your house wasn't correctly wired when built. If your contractor is telling you they designed it this way to protect you, they're ********ting you and doing some CYA because they don't want to tear everything out to rewire that kitchen.

Its still under warrantee so maybe I’ll ask again about that. The appliances run fine, but there are 3 outlets on the same breaker where if you try to plug in multiple items (coffee maker + blender) it’ll trip the breaker. 

Post: High Maintenance tenant

Ethan MartinPosted
  • Lender
  • Athens, GA
  • Posts 6
  • Votes 2

Thanks everyone! Decided to wait 24 hours before responding. Went with this (plagiarized a few of y'all lol).

I’m sorry that the property is not meeting your expectations. I pride myself on being very reasonable when it comes to managing my rentals and giving my tenants excellent service. I wanted to give you a detailed response to each of your complaints, and hope that moving forward we can be on the same page. The reason that we completed the walk through together was to ensure that your expectations were met, and that the property was to your standards.

Floors/Floorboards:

A general cleaning was conducted prior to your move in, but I do understand you did not have the opportunity to do a deep inspection of the floors/carpets prior to move in. I understand that everyone has different cleaning standards. However, the going rate for cleaners is approximately $30 per hour. Requesting $500 in rent credits is not reasonable by any means.

Walls:

These were discussed during our walk through, with each of the marks you sent pictures of being directly addressed. The home is still <1 year old, and a few of these are minor cracks/marks due to settling. There will most likely be more that arise this year while you are living in the property, and I will not be holding you liable for them either when you move out. Also, you and I had both agreed that not only were these marks extremely minor, but that we didn’t even need to annotate them on the walk through check list.

Oven Pan:

You will receive a new one in the mail

Breakers in home:

As previously explained, the construction company that built the home elected to use lower voltage breakers that will trip at a lower voltage. This is an added safety measure to the home, and swapping the breakers would void the home warrantee provided by them. The reason that the breaker in the kitchen (specifically the one tied to the oven, microwave, and fridge) trips easily is due to the higher voltage of the major appliances. This is for added safety to the home.

Air Filter:

This was changed the morning of your move in

At the end of the day everyone has different cleaning standards. I have completed a general cleaning of the property given the time available, and when we completed our walk through none of these concerns were raised. However, I do understand your complaint for the floors/baseboards as you did not have adequate time to inspect. I do not offer rent concessions, but I will make a one-time exception for $250 for March rent in good faith that this will take care of these specific complaints.

If this is not satisfactory we can work out a way to let you out of your lease if you feel that you won’t be happy here.

Post: High Maintenance tenant

Ethan MartinPosted
  • Lender
  • Athens, GA
  • Posts 6
  • Votes 2

Need some advice. I have a tenant who moved in last week. We did a walk through with a checklist and she kept saying how everything was great. House is new construction, less than a year old, and she wants me to take $500 off rent because she has to clean it. Also, I mopped the floor twice and she just moved in, so I’m betting most of that on the floors are from her… 


I know I can be a pushover sometimes, and I think my kindness to her in the beginning is starting to backfire. How would you respond to this? 

Post: Banks for HELOC on Investment Property?

Ethan MartinPosted
  • Lender
  • Athens, GA
  • Posts 6
  • Votes 2

@Karah Collins that’s perfect. Going for my 3rd now.

Definitely going to check them out thanks y’all!

Post: Banks for HELOC on Investment Property?

Ethan MartinPosted
  • Lender
  • Athens, GA
  • Posts 6
  • Votes 2

Great thanks Jody! What was the max LTV on that HELOC if you don't mind me asking?

Post: Banks for HELOC on Investment Property?

Ethan MartinPosted
  • Lender
  • Athens, GA
  • Posts 6
  • Votes 2

Hey all, I have one rental that I bought as my primary residence back in 2019. I'm kicking myself for not opening up a HELOC before I moved out and made it an investment, but you live and learn.

I'm partnering with my friend who is actually the reason I'm a lender now (he's an agent and we wanted to learn both sides of the business before investing). We have a hard money lender for a flip, but need to front 15% ARV. We could do this in a few months, but we have a deal now. Both of us have one rental with enough equity, just not sure how to take it out without selling. The cash flows on both are phenomenal, especially considering we both have $0 in each deal using the VA loan, so that's not an option for either of us.

Long term we want to raise enough capital to begin to BRRRR using our own money.