All Forum Posts by: Glenn D.

@Brian Pleshek

I have done a number of rehabs and find that the answer is almost ALWAYS - "it depends" lol.  You have to do a cost analysis.  There are plenty of tub resurfacing methods that work and it can be done.  The line needs to be drawn in the sand as to weather YOU can do it.  If not a pro should be called in and is it cheaper and or better to reglaze or replace.

So my like of questioning would go like this:

1. Did my mother in-law actually do a quality job of cleaning it or can I do better and save it myself? If your mother in-law did a great job they you go to step 2
2. Is it cheaper to replace or repair (reglaze)?  Call a couple pros and ask the question.  I find that often even if I can do it, my question is can a pro do it better, faster for a reasonable price I am willing to pay?
3. Once cost are analyzed pull the trigger.

as easy as 1, 2, 3 lol.

@Michael McKenzie

My pleasure 

@Michael Johnson

I understand the allure of house hacking and renting to college kids.  The big deal is you have to have whatever you want in writing and make sure that everyone reads it, understands it, and abides by it and SIGNS it.  And make sure that you enforce it.  They are after all kids away from home.  Additionally have the consequences in the same document, i.e. If you break these rules you will be evicted in the quickest manner the law allows.

Good luck

@Chris Paxson

Great question in the right place.  Joining a real estate investors group is a great way to network with other like minded individuals.  I say that it is almost a necessity, in the fact that it's hard to do things on your own.  It helps with motivation, gaining experience from others, gaining knowledge and finding and selling deals.  As to weather you should join one that costs a fee.  It all depends on what they have to offer.  I would say that most any of them will let you try it out once or twice before committing and then you can make an informed decision as to weather it's worth your money.

@Michael McKenzie

I am hypothesizing that the owner does want a real estate agent because he doesn't want to pay the 6%(+/-) fee.  So if you bring someone who is using a buyers agent the agent wants to get paid some how, which can be by the buyer.  I am again hypothesizing that the seller will not agree to paying any of the buyers agent fees.  So that being said the deal is perfectly fine as long as everyone agrees to the terms of the sale.

May your hard work find the right opportunity,

Glenn

@April Smith

You have come to the right place to ask this questions.  Often each city or county will have a GIS (geographic information system) web site that will allow you to look up owners of properties.  I love using this, to find vacant house -home owners.  In just a few quick seconds you can find the public information for most anyone.

Here is what I typed in for a Google search:

- "greensboro north carolina gis property search"

and here is what it pulled up:

http://taxweb.co.guilford.nc.us/CamaPublicAccess/

From here you can look up information by Owner/Business Name, Location Address, Parcel Number or PIN.

Let me know if you have any other questions.

Glenn

@Micki M.

That sounds like an awesome idea.  I know that I like to rent properties in military towns and to military people, because you know that (as long as you verify) they will be receiving a housing allowance that should cover the rent.  Additionally if they mess things up and or skip out, you have access to compensation through their chain of command.  BUT that is for US military.  

Regardless, good luck.

Glenn

@Evan Hosler 

Very small world huh?  

@Anthony Angotti also brings up a good point of connecting with your local REI groups. That is very important.

May your hard work cross lots of opportunity.

Glenn

Mindy,

1st of all congratulations on your 1st rental property.  It can be daunting and a lot of hard work, but as you learn, you will become better equipped to handle each hurdle.

So in taking care of high maintenance tenants, my 1st thought is to always remember that they are people and bridges.  So be professional, polite but not  a doormat.  You want to be a good landlord but you are not baby sitter.  

Legally, a lot of what you can or can't do goes per state so I will have to defer to someone with legal knowledge there.  But as for seeking new clients:

1. Screen heavily
2. Go with your gut
3. Put everything you writing.  If it's not in writing it does count.

As for discouraging repair request, you always have the ability to either comply or not.  Of course there are things that as a good landlord you legally and professionally need to do, but if they want something not required in your state than you can deny their request.

Check this out for and overview of Landlord / Tenant Law.

http://www.nolo.com/legal-encyclopedia/overview-la...

Best wishes,

Glenn

Evan,

Welcome to BP.  You are in a great place.  I would say keep doing what you are doing.  Keep looking, talking and getting education but do not forget the critical step - DO something.  LOL, some people read and study but never do.  Real estate investing is a huge success and a great portion of many reach peoples portfolios so it's a smart thing to do if done wisely.  

Good luck - "Luck is the point where hard work meets opportunity."

Glenn