All Forum Posts by: Jonny Morris

@Jonathan Watt nooooo! Absolutely not advertising. Independent research for myself.

Appreciate the feedback all. Seems like I might have to wheel and deal locally.

Any strategy with Lowe’s? I’m not a fan of their local service.

The website looks too good to be true? It’s about $1600 - $1900 for brand new refrigerator, stove, dishwasher and microwave?

Is this real? :)

www.us-appliance.com

Thank you@Jim Goebel! This is a helpful perspective. It’s single level and I think for sake of a few $$$ this is an aspect it would be worth investing in. Last winter was like a game of thrones episode (felt 10 years long).

@Mike McCarthy there was just a remai heater that I’m assuming ticked along for the house. That went out and we’re going with forced air.

Rehabbing a small 3/1 (975ft) in Montana. Buying a new furnace I read one calculation was 50/60 BTU x sq footage. Anyone in Montana guide me with preferred brands/ ones to avoid? Or what calculations you use?

Afternoon all - 

Short and sweet. If you self manage your properties - what do you charge yourself as a fee 10%/11%? Do you also allocate a signing fee for new tenants with annual lease etc? 

I am aware I can pay myself whatever I choose but...I am refining my 'systems' and would like to acknowledge my hardwork etc in order to keep growing and stay motivated. 

Cheers, 

@Matt K. - this is the wisdom I was seeking. Very obvious now you made the point. 

Thank you. 

Good morning all, 

Tightening up my rental process and developing the tenant screening stage. BP wrote a brilliant and informative article on "Tenant Screening" - which I have mostly digested. My question is really to reach out to the experienced members and hopefully gain an insight into your "systems". 

To clarify...

1) I have interested potential tenants. 

2) I have shared my 'standards' e.g. earn x3 the rent, no evictions etc

3) Set up a viewing for next week.

4) If they like the place, offer my rental application (from the BP site - specifically for my state). 

5) Use SmartMove to screen. 

My question is: 

Which option should I be using? Is $40 standard for an application? The less comprehensive option ($25 - credit based resident score and National Criminal Background Report)

If unsuccessful, what are your 'fair housing' tips/tricks to soften the blow of letting someone know they weren't chosen and you won't refund the $40/$25.

Many thanks as always, 

@Account Closed - What would you do? Or do you do? There is value, if I can access it correctly. Using a GC would be overpaying for this work. 

Dear all, 

Know my numbers, got the deal, closed...planned, written detailed SoW for the project. 

I plan to contract the roof and other aspects of the job however, initially I will be using a handyman for some basic demo, drywall & landscaping on the property. 

My headache comes from the steep learning curve as I have purchased property through my LLC and want to create systems and structures I can replicate.

My question is (acknowledging this will not be taken as concrete legal advice): 

- What do I need to do in order to have the handyman begin work at the property?

* He is insured (I will ask for copy of valid insurance). 

* Owns the business. 

* Explained he previously operated under a 1099 (I would supply him with a W9). 

* I have a detailed Scope of Work.

* I have an Independent Contractor contract for him to complete. 

What am I missing? Any insight and information you can provide will be very much appreciated. 

Thanks,

John Leavelle Morning John! Wow - what a concise and helpful breakdown! Very digestible for me. That’s basically the theory I had running around my head but then locking down a MAO is where I was flexing. Necessary for all parties concerned! Thanks again John...excited to apply this today!