All Forum Posts by: Kyle Hipp

Hi guys, I am in Appleton myself as well. I have a number of rentals and have been doing this for about 11 years now. While I am still on the lookout for deals, I have been focused on my construction business more lately.  I am a member of a couple Local REIAs that meet monthly. They offer some great content and a great way to network. Feel free to reach out if you want to come. One meets the 2nd Wednesday of the month at 7pm and the other the 3rd Tuesday at 6-6:30

if you read the vast majority of mortgage docs there is reference that the bank has rights to inspect. They are rarely exercised however. 

He also has the right to ensure that you maintain the property. I would address your concern recognizing the intent but laying a different procedure going forward

I am in your market as well. I would personally sell. At that purchase price, I do not believe you will get an adequate return. Probably break even once you factor in all the cost

I started investing in real estate 11 years ago. I started with 30 year notes but transitioned to 15 year notes a couple years in for a variety of reasons. I want to make the same return that most folks shoot for on a 30 year note on my 15 year notes. That narrows my focus. I have been focusing on my construction business since retiring from my w-2 job this spring as the sole provider of my family of 4. Over the last couple years, I keep my eyes open but am not dying to find deals. However when I see something that works, I jump. I do not mind sitting on a pile of cash while prices are causing margins to compress. Last fall I bought a nice duplex close to home, made an aggessive offer in a competitive market and it happened to work out with the motivated sellers. I just wrapped up a wholesale purchase details the other day and will close on the 1st. It has been much wiser foe me to be patient and ready to act when the right deal comes along. 

the idea situation is to move the steps, pour a proper base and then reinstall. I prefer wood steps as well however they would not be movable as that would not meet code. 

I pay about $400/w for an energy efficient, double hung, double pane vinyl window with aluminum wrap. 

I am a contractor for the quality of the window, $400/window works for me. I usually recommend this path to my customers as well. I have installed a couple Jeld-qen windows and even their top of the line windows are just garbage compared to these. I habe not seen a decent window at a big box store for a reasonable price. The seals are junk, cheap balances and limited locks, single hung.... 

Picture windows or 2-3 lite sliders are usually $700-$1,000

the vast majority of the time a toilet or sink or tub drain does not clog on its own. The only exception I have seen is old galvanized drain lines that essentially rust closed. However I only charge when I can prove it without question. 

As others have said, if it is a roommate situation, you are exempt from fair housing laws. You can choose not to rent to someone because they are a woman, or gay, or Christian, handicapped, or white. In my state, they just had a case to to federal court because a guy kicked out a roommate who was black after his ex-wife asked him to during their split. He told the tenant he was out because he was black and it made her uncomfortable. His actions were deemed legal

Definetely true that states and countries, even some municipalities in states have different requirements and guidelines for how a security deposit is handled. I know my states laws very well which is paramount to investing which has lead to success over my 10 plus year career. To make a blanket statement is not wise with how much laws vary so the best answer is to look at your states law regarding what a landlord can and cannot deduct from the security deposit. 

For example, in my state we can charge for carpet cleaning but we cannot deduct it from the security deposit if they do not pay it. Many details that folks don't always pick up on.

The actual cost is the $200 fan that the tenant broke that was installed the week prior. 

Your local laws are obviously different than mine. We can charge a reasonable amount for labor given proper documentation. Never had and issue. It is also foolish to just cover costs, not actual damage. So if a tenant breaks my $200 fan and I replace with a $500 fan, they habe to eat that choice, good luck getting a judge to buy that.... 

Wisconsin has slightly more lenient landlord/tenant laws but it keeps common sense in place. Like we do not have to store ever piece of garbage a tenant leave behind if we fill out the proper paperwork... Glad I invest where i do