All Forum Posts by: Jeremy Marek

@Account Closed

We carpet the entire unit, living, bedrooms, hallways, except for the kitchen and bathroom (for obvious reasons).

I'm wondering the same

I can give you an opinion, not legal advice. Just about every landlord gives out the lead paint pamphlet and that is enough to cover for lead paint. You also don't specifically KNOW of there is lead paint. You are just guessing, unless u sent samples to a lab. 

As for asbestos, it is safe, as long as it is not disturbed.

I agree. Would not want to bother tenants with strangers storing their stuff and walking in and out of the building . That's what public storage is for 

Just say occupancy , don't specify anything more than that and count each occupant equally, whether it be a child or adult. I'm not a lawyer though,,, but that seems reasonable

 I can tell u the cap rates suck in that area and you can probably find better places to park some money into a real estate deal. 

We bought our first property because of the long term tenants that were in there. After 1 year, half the building had flipped, after these tenants had been there for YEARS. Nothing we did, just timing. 1 went to nuring home (older lady), one bought a house she was saving for for a number of years, and the other got a different job and had to relocate. Nothing we could have done differently, and honestly, I now realize it's not a big deal having existing long term tenants. You never know how long they will be there and it doesnt matter anyway. Just find a good tenant and you will be fine

We bought a 6 flat that had all nice oak flooring. Beautiful stuff and it was a selling point when we bought the building, not knowing it causes problems. I can 100% tell you that it's too loud for most tenants. Nothing is muffled. We are in the process that when each unit is vacated, we install carpet and a thick pad. We are keeping hardwood flooring on the 1st floor though, since it's just the basement/laundry room below. Noise complaints are the most common call we get from that building, and it stops after every unit with new carpet and a nice thick pad installed. It's like magic when the carpet goes in! No more calls about TV on late at night, radio, etc... 

You asked what needs to be done to get the property on sec 8. First, I would ask your potential renter if they actually have a voucher, or if they just went through orientation, or are on a waiting list. After u verify that they are on the program and have a valid voucher, contact your local HUD to get your inspections done. If they find something wrong, they will reinspect or in certain cases let you self certify. Then make sure you have your account properly set up with the housing authority and they have your tenants move in date, so u will get your check from them.

Another vote for kitchen appliances being included. Although it might be somewhat market specific, the vast majority of markets probably include appliances.