All Forum Posts by: Jason Bohling

@Scott Mac that’s a good idea, I’m going to do that tomorrow. I’ll have to look up Idaho’s laws this evening.

@Matthew Paul the curbing was for only 70 linear feet, the rest was for sprinklers in just a small backyard. The original quote was $2,000 for the sprinklers, $300 for the curbing, but due to me being a veteran he was giving me a 15% markdown for a total of $1,955. As for the sprinklers, I got multiple quotes and they were all in line with $2,000 +/- $100. I went with him because a close friend whose a GC had been using him (had been going well for him at that point) and referred him to me and the discount helped, coupled with he had an opening within a week of the quote while everyone else was booked solid from then till September.

I will admit that I should have recognized a red flag on the curbing as the other quotes I got had minimum per job charges of $600-650 regardless of linear feet. Definitely a mistake on my part and a lesson I will learn from.

@Bruce Woodruff you know what, in hindsight you’re absolutely right. I’m new to the game, so I’m taking this as a mistake to learn from. I know there’s people out there who’ve lost several thousands, tens of thousands of dollars to deadbeat contractors so I learned at a much lower amount, so I’m grateful for that. However, it still pisses me off, as it’s one thing for me to make a mistake and deal with the consequences but when it affects my family, that’s way worse.

@Nathan G. I hope so, though I’m wondering if it will. He was referred to me by one of my best friends (who’s more family than friend). He’s a GC and was using him on a job, and as of yesterday he’s MIA from that job, too.

@Ryan Wallace I may need to do all 3…it’s a shame some people can’t conduct themselves professionally and honorably.

Quote from @Claudia Del Leola:

Should I be suspicious about receiving a request for rental application from someone who I have not yet spoken to much less even shown the property to? My gut tells me this is highly unusual especially considering the rent is over $4k/month.

No questions, no calls, or request for viewing... all with a move in date in the 1st week of June. I know there have been all sorts of scams popping up in the rental market. Has anyone else experienced this situation?

Given how things are here in my market, I would say it's not unusual at all. The lack of housing here, regardless of type (SFH, MTR, LTR, Multi-doesn't matter) is really bad; saying people here are desperate to find housing of all types is a major understatement, so that would not surprise me. Assuming you have solid screening processes, just follow them and make sure they qualify on their own and let that work it out.

So, I hired a landscaping company here in the Boise area to install some curbing and a sprinkler system in the backyard of my property.  Per the terms, they required half up front, half when the job is completed.  I paid them via check, and long story short there where a lot of no-shows, delays and me having to track the contractor down to find out what was going on...before the job even started.   I fired them and told him to rip up the check as I had put a stop payment on it once I verified it hadn't been processed through my bank.  A few days later, I was contacted by MoneyTree and informed that he cashed the check the day I wrote it (before the stop payment was placed) and that MoneyTree paid him the $1,000 and they would be billing me for it as I am responsible for paying them 'back' essentially.  The contractor who has my my money is, no surprise, ducking and avoiding me.  

So, my question is, does anybody have any suggestions for me or options I may have to recover my money?  Thanks everyone!

Quote from @Colleen F.:

@Manco Snead  the thing is that if regular rents are up furnishing and handling a couple turnovers a year and covering vacancies has to bring in some additional revenue.  Not saying it is the best for you.   I have LTR and am looking as MTR because It might be a good fit.   We have some heat included apartments and the heating cost doubled so some of what you are seeing is in increases is increased costs especially when utilities come into play.

@Jason Bohling  with 4-5 turnovers a year does he make more on MTR then LTR? 

He hasn't given me hard numbers but, yes, he said he makes significantly more. The reason being is the turnovers are more akin to STR than LTR. He's said that he's been fortunate that he's gotten great tenants who pretty much go to work and come home and sleep. He's put in tile and LVP floors so no carpet to clean or replace, the bathroom lights are wired with automatic fan turn-on which prevents moisture accumulation resulting in mold, etc. His turnovers for the most part consist of a deep-clean by a cleaning company and readjusting tv and Netflix settings, maybe changing a couple light bulbs and that's it. Plus he charges a cleaning fee so that covers the cleaner costs right there.

Quote from @Colleen F.:

@Julie Williams I got  the impression that MTR market is seasonal which means you would need to get a higher rate to make the same as a LTR.  Some people here seem to suggest that they can do MTR  year round.  Is that the case?  Do you not have vacancies say in winter?   I think vacancies would be the cash killer in MTR. In our area I expect you would see a summer demand because of population influx and vacations of regular staff, as well as internships but perhaps some of you that do this can comment. 

Where I’m at, there’s a year-round demand for this.  An investor I see from time to time at the VA hospital does MTR and he said he typically has 4-5 turnovers per year and has been booked solid since starting his MTR a few years ago.  This is pure speculation on my part, so check with those that actually know, but it seems like more and more hospitals and clinics nationwide are having to contract out due to a shortage of nurses and professionals so the demand seems to be there.  Good luck to ya!

Quote from @Gerson Santizo:

Hello all, 

I am currently a travel nurse and recently purchased a single family home with a conventional loan. Since I'll be traveling for work most of the time, can I rent out the other rooms in my house with no issue? Of course, Ill be occupying a room for myself. Is there anything I should do before hand? Any advice/expertise would be appreciated!  

Thanks in advance

There shouldn’t be any issue.  Even in the case of an FHA or VA loan which have requirements that you “intend” to live there for at least a year, if you have to go somewhere temporarily for work, there’s no restrictions on that.  For example, I’m a veteran and virtually everyone in the Air Force does a 1 year tour in Korea.  It’s a very common situation for someone to buy a home with a VA loan and wouldn’t you know it, 2 months later they’re in Korea for a year…it’s almost like the higher-ups are waiting for the moment you buy to spring orders on you!  There’s no issue because the relocation is a function of employment.  Plus, you said you bought it conventional, which I believe (double check cause I want you to have the right info) doesn’t have any residency requirements at all; people buy long-distance rentals with conventional financing they never see all the time.