All Forum Posts by: Jason Cobb

@Asury Johnson. Just a little trick to help you out. If he is in the Army, then send correspondence not only to him but his Commanding Officer as well. When the CO finds out what he's been doing, they will be more than willing to intervene. When the JAG calls, simply refer them to your attorney.

Hello, 

Is there a known method or rule to determine the average annual cost of elevator maintenance and inspections?   Age, model, make= $$/year  

Property has one elevator and I am currently researching this due to not having prior exposure or need to know.  Previous owner would provide past 24 months maintenance records, however, I am a longer term investor and need the real numbers over a ten year period.  

Location:   Central Illinois

Thank You for any insight, -J. 

I have a 12 unit property and both myself and my wife have caught persons in the act of illegally dumping.  We contacted a Zmodo installer.  Paid for the system and installation, put 6 cameras up around the buildings, installed internet into the buildings with a direct line from the phone box.  I can view any of my six cameras on my cell phone at the touch of a button.  Have solved two criminal cases and caught the garbage man dumping out a television onto the ground and leaving it.  Hard to argue against video.   Not one camera is aimed into a bedroom window or towards a bedroom window.  I also know when services arrive/depart; meeting contractual obligations.  Trust, but verify. 

Side bonus, when I mow or do maintenance, the wireless router/modem allows me full internet access on my phone without using 4G Data to death.  (I rock out to 80's hair bands when mowing or cleaning....and yes, I'm serious.)  

Having been a police officer for over 16 years...true believer in video.

Allen, 

Congratulations! 

Getting a taste of a small victory often, is very rewarding and can lead you to many more. Keep up the good work, be diligent in your efforts and you will succeed again.  

Mr. Linval T. gave you great resources to learn from for wholesaling.   Learn first and talk with as many people as you can.  

Share your victories often,  Congrats again!!

Over the last two years, property insurance for my 12 unit has increased a cumulative 33%.  No additions, no massive gain in value, no claims.  Shopped around, previous agencies re-quoted my building with even larger increase.  

My area is not growing rapidly, no large increase in valuations, no increase in costs to build/maintain and little job growth. 

Are the insurance agencies price fixing?  I have looked at this objectively from every angle, so far, the probability of price fixing is the only viable answer.

How can they all increase rates around 33 to 38% in two years without a justification of price values, costs to re-build, etc.?

If anyone can explain this phenomena, I am all ears. 

Thanks, -J. Cobb

Grace, please research and read your State laws and Federal laws governing this issue. Each state is different.  Lease laws are different.  Additionally, case law decisions for or against a law within your state are published, yet difficult to find or interpret.  Consultation with an attorney that has experience is always best and worth the money.  Good Luck, -J. 

The single greatest source of real estate investing's shared knowledge, experience, mistakes, success, failure, and fellowship.

Jeremy, I had the same problem in my home; bad smells, water standing, etc.  This is always a step by step procedure.  Just like the others said; fix gutters, drain away from foundation.  Any ground near foundation that slopes towards the house; re-grade.  I had further water intrusion and installed 4" perforated piping along the footings, which was graded to drain into a sump basin under the house.  I wired in an electrical box (outdoor GFCI) and connected a sump pump. We re-installed thicker water barrier material from wall to wall.   The remote hygrometer reported less than 45% moisture.

It beats complaints from others about a "musty or moldy" smell. 

Something to consider is a Turtl box for outdoor access to crawl spaces (lockable).

We installed one and do not regret them, allows plumbers access to crawl space without going through tenants home.

Good luck, -J.

Allure Vinyl planks. In apartments, SFR's, my home. The product is worth the money and effort. Won't use anything else.

Right now the trend is the incoming freshmen seem to flock to the class A properties, within two years they are moving to smaller rental units. They seem to realize the costs are eating them up and they look for the smaller apartments which costs less to live in, and are still very nice and close to campus. A recent rumor was that the Class A properties can only max out at 65% to 85% capacity each year. The SFR's which 5 to 8 students share are going vacant year after year. The students just don't want the hassle. I have no problem getting year round contracts with older students, working adults, and especially grad students who know how to manage money and understand the value of reducing debt projections for coming out of college.

Would love to expand in this niche, just don't have the down payments....