All Forum Posts by: Derek Scott

@Trey Schwilling are the car wash and self storage numbers reversed?

Hoping that I found the right forum for this… We own several SFHs and periodically have to advertise. I have grown fond of an app called Burner that gives me temporary phone numbers so that my personal cell number isn’t being given out far and wide.

We have a self storage facility under contract and it’s the type that is largely full of commercial tenants and doesn’t have a full time manager or office on site. I am looking for a phone/text solution that is good for the long haul. Burner may actually work for this, but I am not sure I am looking for alternatives before something goes on the new sign.

I have a friend who owns several and he’s used Google Voice to have multiple numbers so he knows which property the caller is calling about. He has been looking for a new solution as well. He likes Google Voice but it gets expensive if you have a lot of lines.

Any recommendations from owners or managers?

@Colleen F. As investors, we need to keep all our options open.

@Colleen F. Yes. Sorry. $220 per house per year. It's a double-edged sword. On the one hand, there is a mechanism to keep the neighborhood from getting junkie. On the other hand, a heavy-handed HOA can be a turnoff. Newer SFHs here are typically in HOAs so you can live with it or buy older houses. I've done both of those. Funny anecdote: even if there isn't an HOA, there can be protective covenants. I bought a 1926 house in a neighborhood where I am restricted from manufacturing or selling alcohol.

Depends on the HOA. So far, we've avoided townhomes and the like where the HOA can assess you for exterior repairs, etc. But assuming SFHs, the HOA can be good or bad. For example, we own two SFHs on the same street in South Carolina. The streets are city streets, so the city will be responsible for road repairs and lighting repairs. There is city water and sewer. No playground or pool or clubhouse, so the HOA dues are pretty low. Say $220 per hour per year. There is some common area to be mowed and a sign. The HOA board is typically reasonable, but they do make people keep up their lawns, wash their houses, etc. So in my case, the HOA works in my favor (property value). Because we own two houses, we get two votes. In summary, I'd avoid HOA where there is a lot of common property (exteriors, pools, roads, lighting, etc.). Otherwise, I wouldn't worry too much if the fees are low. Last note: my leases make reference to the covenants, binding tenants to them. And I give tenants a copy. If the HOA sends a letter about a violation, I can hold the tenant to it. For example, I got a letter a couple of years ago about a basketball goal in the driveway (they have to be put away every day). I was able to tell the tenant to start following that rule.

My 2007 Toyota Tacoma with 310k miles.  Usually pulling my tool trailer.

@John Underwood are any of your connected to BMW? One of mine is and that has me a little concerned.

I only have three SFH, but so far so good. One is received and bank drafts are in progress for the other two. My drafts start on the first and usually clear by the sixth. I haven't contacted any of mine, but I've been doing some planning on my end in case one of them contacts me. I have really good tenants, so I'll try to help them figure something out if they get in a bind. $1250, $1450, $1650.

@Sue K. Our very first was the best. A single lady. Doctor. Two standard poodles. Very clean. Paid on time—bank draft. Made the house look better than when she’d moved in. Stayed three years. Staged the house with her nice stuff and took advertising photos for me before she left.

@Bryan Devitt oddly enough, the guy I hired gave me the contact info for his sub today. I told him the cops wanted the info...