All Forum Posts by: Bryan H.

@Jim Wellington yep I got a contractor in there and did exactly that. I just feel bad when I know I will be the one who will be doing the work and not paying them. I work as a contractor and this happens so much that I have considered charging a fee for quotes (Just to cover over-head $20-$40) but I only know what I know and plumbing is not my speciality lol

Thanks @Jake Baker I knew someone would have this idea before me. I agree the timing is not always ideal but I try to buy where I can rent STR, LTR, flip and last resort live in. I try to buy where I don't feel a lot of market shift so I can get consistent returns and worst comes to worst I planned it where I can rent and have cash flow of 400-600 per month. My primary also fits these specifications so if I ever made such a bad deal and couldn't afford to get out of it I would rent my primary and live in it until I figured out a new game plan.

Hey @Jane S. ya I feel you. I run a business doing minor renovations, repairs and maintenance and I will tell you if I had a dollar for every time I heard about a contrctor who did poor work, never showed up or took the money and ran I would be a rich man! It makes me want to keep everything in-house and on payroll compared to contractors plus you build a better relationship with your crew. I DO allow animals and I think I need to add a deposit for them as well. I charge normally $100 for the first and $50 for each after that. As I explained it once one dog might be great and cause no damage but the next tenant's dog might do a ton of damage. Charging pet rent is more like an insurance policy where you pull from it when you need and it builds up over time. I tend to be able to charge more for rent on top of pet rent due to the lack of properties willing to allow pets so all in all I think I am coming out ahead.

@Patricia Taveras Yep did the same thing! I learned my lesson and I am glad I did early and quick before I put it in other properties. I am just trying to learn from others and teach people the best way possible. If we can all make a little bit more on quality materials I feel like it will all be worth it in the end.

@Glen Wiley I try to be the higher end in the areas I am in. I think that it has given us the ability to ask more for rent ($200-400 over market) and we have never had a problem with finding tenants. If I would not be comfortable with my family living in it I won't rent it. Carpet IS nasty. I did flat a first but trust me I learned my lesson and now it is semi-gloss. I think I might have gone overboard with the smoke detectors and should have done builder grade as well. I like to get the toilet up anyway and make sure we don't have a failing wax ring and it is almost the same price to rebuild a toilet as it is to replace it with a cheap one. I still haven't tried the better-than-wax rings yet and wonder if they are better at stopping blowouts. I really hate roof work so if I think I am going to hold for longer than 10 years I want to invest a bit more in something that isn't going to wear out like traditional shingles. I am afraid of old tenants breaking into the property so that is another reason why we use keypads instead of locks. I wouldn't feel comfortable if I thought someone else had a way to access the property other than me so I won't do it to a tenant. Thanks for the response!

@Ying B. I just saw someone who focuses more on section 8 and he said he does carpet because it does not matter what he puts in the house it always gets ruined so might as well use the cheapest option. I don't think I would want to have properties in areas like that. I wonder if it is worth having a higher wear layer or if will it get damaged before it even becomes handy and will need replacing.

@Alecia Loveless I feel like we need to keep some standard colors too. We have used a different color on each house. If we stay consistent than we can use left-over materials for the next house. I like the toilets that use a ton of water because yes it may cost more for the water bill (tenant) but it is way less likely to clog. I feel like low flow will cause you to have to call a plumber a lot more. Our rentals are in lower-income areas as well (D-C) but we try to do the little things like having flat light switches and stainless steel or nickel-plated hardware. We tend to have no problem asking more for rent than most homes in the area and get more stable renters. I want to do section 8 and I will not be doing these little things due to the lack of care for these properties.

@Jim Wellington wow I always put in ceiling fans in bedrooms. I feel like it will help reduce the strain on the HVAC system during hot summers. I have not had any break on me and I buy them for about $70-100 depending on the size. I also add garbage disposals because I feel like the tenants are going to put things down the drain regardless might as well reduce the chance of a clog. I do not give out the garage door remotes out and will reset the passcode to match whatever code they gave me for the door. I also will give them access if there is an app for the door so I can remove them after the lease. Adding handles and painting cabinets is a quick way to make the kitchen look refreshed. Thanks for the awesome response! 

@Andrew Dowling I bet you save a ton of money doing them yourself. Since everyone keeps saying granite I will need to start doing it. 

@Michael Plaks When I say hybrid I was referring to the fact that yes I rented it out but the real reason was for the sale of the house. When I buy a property to hold I look more at cashflow than I do ARV compared to this situation where I am more focused on the resale value and less on the cash flow.